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Property Related Laws Uttar Pradesh Department of Housing and Urban Development Real Estate (Regulation and Development) Act, 2016

UP RERA has issued Guidelines for the Promoters

29-Nov-2023 | 14288/UPRERA/2023-24

Uttar Pradesh Real Estate Regulatory Authority (UPRERA) has issued Guidelines for the promotors for smoother transactions between the authority and promotors. The key highlights of the guidelines are as followed: 1. Promoters to provide to RERA the details of any of its responsible directors, who has been authorized by the board resolution of the company. In correspondence with RERA, the name and designation of this authorized director will be mentioned. 2. Promoter will provide the e-mail of the bank related to the project at the time of registration of the new project. Information about registration will be sent to the lead bank as well as the bank related to the project. In this regard, detailed guidelines have been given regarding opening of collection account, separate account and transaction account of the project. Following these will speed up the work of new registration. 3. Promoters must ensure that the mobile and landline numbers related to the project are in working condition and knowledgeable personnel are deployed on them, who can provide proper information to the consumers. 4. In projects where completion certificate has been uploaded, late fee will be payable for the QPR which has not been filled before uploading the CC. It is noteworthy that under Section 37 of the RERA Act, the authority is governed by the RERA Act, U.P. RERA provides powers to issue guidelines for proper implementation of the provisions of rules and regulations. Violation of these guidelines is punishable under Section 63 of the RERA Act. Kindly refer to the attached document for detailed information.

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