To discuss the flawless implementation of the Real Estate (Regulation & Development) Act (RERA), Mukul Singhal, the Chairman of Uttar Pradesh RERA called a meeting with buyers, developers and officials from Noida, Greater Noida and Yamuna Expressway of Gautam Buddha Nagar. In the meeting, the Chairman informed that the UP RERA has received almost 900 complaints from buyers out of which 600 are from buyers who hail from GB Nagar.
In order to improve the real estate sector of the state, MR. Singhal announced that the government has appointed nodal officers who will be collecting the details of all RERA registered projects in their zones. The nodal officers will also look into the matters relating inconsistency in the project completion and flaws in the declaration of possession dates.
To save the buyers from the ill deeds of real estate developers and promote transparency in the real estate sector of the state, the Uttar Pradesh Real Estate Regulatory Authority has also prepared a draft provision of “Agreement for Sale”. The authority will soon submit the draft agreement to the cabinet for necessary approvals.
According to the draft sale agreement, the registration of a real estate unit should be done on the basis of carpet area instead of super built-up area, said the UP RERA Chairman clearing the confusion over the issue related to the registration on the basis of the carpet area.