Uttar Pradesh RERA becomes care-of address for revolutionary changes.
Steps towards more transparency in the real estate sector.
Fresh sensational commands.
The Uttar Pradesh RERA route is unique among other RERA authorities in the country. Many revolutionary changes have already been made towards protecting the interests of the buyers. There is a constant push for more transparency in real estate transactions. Recently, more revolutionary changes have been initiated. It not only brings more clarity and transparency to real estate transactions but also ushers in new changes that redefine the relationship between developers, agents, and buyers.
Compulsory training for agents; certificate courses..
One of the key directives issued by UP RERA is that all real estate agents should undergo compulsory training and certificate courses. This decision was taken to enhance their professionalism in this field. This applies to all newly registered agents as well as agents already registered with UP RERA. Rera believes that by implementing mandatory training, the service standards of real estate agents will be increased, and they will have the necessary knowledge and skills to effectively serve the buyers. This gives agents a thorough understanding of real estate laws, regulations, and ethical practices. This helps protect the buyers. This creates trust between agents and clients. As a result, the credibility and transparency of the industry will increase.
No more super area..
Another key point in the orders given by UP RERA is to stop the super area. UP RERA said that the conventional method of selling apartments based on super area is not correct. It has been clarified that there is no justification for Super Area under the RERA Act. It concluded that all transactions, purchases, and sales must be done based on carpet area. It states that carpet area is the actual area of a unit or apartment, and transactions should be made on this basis. This sensational decision is expected to be more encouraging for buyers.
Centralised document submission system…
To improve operational efficiency, UP RERA has mandated the submission of project documents in a centralised manner to speed up various processes. Developers and agents have to send the documents related to project registration, extension, etc. to the UP RERA head office in Lucknow. The decision is aimed at reducing the delay in sending documents to the regional office in Greater Noida. Due to this, the applications will be resolved faster.
Guidelines for mutual solutions…
Recognising the need for structured settlements, UP RERA has issued detailed guidelines for mutual settlements between home buyers and developers. It has decided to implement settlements on non-judicial stamp paper worth Rs. 100. These settlement documents, notarized by the concerned authorities, along with the signatures of both parties, will be uploaded on the UP RERA website. UP RERA hopes that these settlements will be validated.
