Lucknow, Sep 1 (SocialNews.XYZ) The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) will soon make it mandatory for developers to tag the maps of their projects with the Geographic Information System (GIS)-based master plans in 13 major cities across the state.
This move is meant to check whether the upcoming project is on a bona fide site as claimed by the developer and not on government or any illegally occupied land.
The regulatory authority will also set up a mechanism in collaboration with banks to make sure that a promoter uses 70 per cent of the fund for completion of the project. This provision will also be for stalled projects that are restarted by UP RERA.
Disclosing the regulatory authority’s plans, newly appointed UP RERA chairman Sanjay Bhoosreddy said in a statement, “Safeguarding the interest of homebuyers is the prime concern of UP RERA. We have come across complaints where developers have fudged their project plan.”
“The state government has made the GIS-based master plan compulsory for all development authorities. Now, (UP) RERA will make it compulsory for developers to tag their project plan with the cities’ master plan. This will help (UP) RERA to find out whether the project is coming up on genuine land or not,” Reddy said.
“Homebuyers cannot make out whether the project is coming up on proper land or on an illegally occupied government land,” he added.
UP RERA is also helping in the completion of a large number of stalled projects.
“UP RERA is also helping developers to complete projects that are stuck due to various reasons. In such cases, UP RERA will make sure that the developer uses 70 per cent of the fund for the project and not for any other purpose,” said Reddy.
“In association with banks, we will make sure that the developer transfers the fund earmarked for completion of the project in the bank account that has been opened for this purpose,” he added.
UP RERA has topped the country in disposing of the maximum 43,930 complaints in the last five years, which is around 40 per cent of complaints addressed by all regulatory authorities across the country.
In the last five years, the UP RERA received 50,900 complaints out of which it resolved 43,930, the UP RERA chairman said.
Out of 2,056 ongoing housing projects, 1069 projects (52 per cent) are in eight districts of NCR, mainly Gautam Buddha Nagar, Ghaziabad, Meerut and Hapur.
Of the 987 (48 per cent) ongoing projects in 67 are in non-NCR districts, 399 (19.4 per cent) are in Lucknow.
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