UP-RERA gives some relaxation to builders

The real estate Regulatory Authority (RERA) of UP, has given extension of validity period for registration of real estate projects in the state by 3 months.

Two apex body of real estate developers the Confederation of Real Estate Developers Association of India and the National Real Estate Development Council had demanded for six months extension.

Earlier, The Maharashtra Real Estate Regulatory Authority had extended the validity of registration of projects by three months, effectively pushing back the deadline to complete the projects.

“In view of the dislocation of the construction activity under the real estate projects, the CREDAI and NAREDCO have requested the authority to extend the completion date of the projects as done by some other state RERAs. The authority appreciated that there has been, firstly slow dislocation in the construction work because of the need for social distancing and movement restrictions and secondly absolute stoppage of the work with national lockdown towards the end of the month of March and therefore the Authority decided to extend by three months the date of completion of the projects with the date of completion between 15 March 2020 and 31st December 2020,” UP-RERA said in a statement.

The revised registration certificate of such projects will be issued separately and send to the concern promoters.

The developers body has also demanded to delay recovery notices issued to builders by at least six months, in light of the Covid-19 crisis that has crippled the sector.

UP-RERA has also decided to defer the hearings of all the complaints listed till 3rd May 2020 to suitably dates to be communicated to the parties later on. It has also decided to conduct the hearings of the complaints through video conferencing after 3rd May 2020 or when the lockdown conditions are relaxed.

“Under this arrangement the authority will be scheduling 10-15 complaints before each of the benches at Lucknow and Gautam Buddh Nagar after intimating the parties about the revised schedule. Detailed guidelines of online will be uploaded on the website of the within 7-10 days,” UP-RERA said.

Authority has also decided to allow the Promoters to update the quarterly progress report of the first quarter of the year 2020 by 31st May 2020. The date of any other statutory compliances pending at the level of the Promoter has also been extended till 31st May 2020.

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