After a series of inspection of different housing projects, last month in Noida and Greater Noida, Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) officials have confirmed that around 40,000 flats are all set to be delivered this year. According to the officials, all these projects are already registered with UP-RERA and are almost in completion stage.
The team has inspected around 50,000 projects last month. However, these projects were being developed from the last five to seven years and they are nearing completion.
Giving more information on the above, RERA member Balwinder Kumar said, “These are various projects by builders who are registered with the Uttar Pradesh RERA. We are keeping a close watch on the progress of their construction so that the developers meet the latest deadlines,”
Many builders were found as defaulters by RERA agency due to non-completion or over-delay of projects. “We have taken some stringent action against them like scrutinizing their project etc,” Kumar added.
On September 4, 2018, Western UP bench of UP RERA came into existence due to increasing number of cases from this region. Till today, they have registered 9,601 cases, of which 2,512 cases were disposed off till December last year.
The officials have recovered approximately Rs 50 crores from registration of agents, projects related complaints and editing of maps of the housing projects.
In order to ease the problem of home buyers on the selection of a project, UP RERA has also decided to give a star rating to the developers as well as housing projects on the basis of their quality. It will provide clarity to the buyers on which project to invest or which not to invest.