The Uttar Pradesh Real Estate Regulatory Authority (UPRERA) has appointed a consultant to conduct in-depth analysis of stalled projects, especially disputed ones in Noida and Greater Noida, and suggest solutions to resolve them, chairman Rajive Kumar said.
The move will benefit homebuyers, Kumar said in an interview with Moneycontrol. The consultant will submit a report next month and UPRERA, in consultation with the state government, will decide on a course of action.
He said UPRERA has taken many steps to complete stalled projects and provide relief to homebuyers. Most of the measures were taken in collaboration with stakeholders including homebuyers and promoters.
There are a large number of disputed or distressed real estate projects in Noida and Greater Noida. Thousands of homebuyers have invested in such projects, many of which are incomplete, and they have been waiting for their flats as they pay home loan instalments and rent.
Kumar said that as part of the relief measures, the regulator has taken up more than a dozen projects in collaboration with homebuyers and promotors. Two such projects have moved on to reach occupancy certificate stage, he said.
“We have, from UPRERA’s side, onboarded a consultant to go into an in-depth analysis of the projects in Noida and Greater Noida area and come up with possible solutions so that homebuyers can get their houses expeditiously. We expect to get that report next month and then, in consultation with the state government, we would be making the appropriate decision,” Kumar told Moneycontrol.
Set up in May 2017, UPRERA is tasked with protecting the interests of homebuyers, bringing in transparency and ensuring speedy resolution of disputes between homebuyers and developers.
Digital Upgrade
On the new digital initiatives by the regulator to facilitate homebuyers and other stakeholders, Kumar said a software developer will soon be appointed for UPRERA digital version 2.0. He said UPRERA has been a pioneer in the use of technology and that’s why it has able to handle about 40,000 cases till date.
He said UPRERA was the first to come up with e-courts in January 2020 and its complaints section was online from day one.
“Registrations, extension and execution of projects are now online. We are now looking for UPRERA digital version 2 so that the whole database can be integrated and it facilitates all our stakeholders in their work, especially the buyers. So we expect in the next couple of months we would be able to launch version 2, for which the study is completed and the process of on boarding the software developer is now starting,” Kumar said.
Asked if the regulator needs more teeth to deal with cases more effectively, Kumar said there is always scope for improvement.
“This Act came about six years ago and since then a lot of things have been stabilised. Lot of orders from the Supreme Court and the high courts have come, which have clarified the provisions and it’s a young act and there is always scope for further improvement,” Kumar said.
He said UPRERA has almost 38 percent of the country's complaints. Almost 75 percent of the complaints in Uttar Pradesh are from the National Capital Region, which includes New Delhi and certain districts of Haryana, Uttar Pradesh and Rajasthan.
“Thanks to the RERA team, we have been able to be on top of this situation and 90 percent of these complaints have been disposed of,” he said.
More than 47,000 complaints were registered and 42,000 disposed of by UPRERA from May 1, 2017, to December 31, 2022, according to data from UPRERA. In 2022, about 7,050 complaints were registered and 9,600 resolved, the highest number disposed of.
About 46,400 complaints were against promoters, 500 complaints against allottees and about 200 against agents.
Also Read: Uttar Pradesh RERA leads with 41% share of consumer dispute resolution
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