For the purpose of urging authorities to adhere to strict deadlines to meet the deadlines, the Uttar Pradesh Real Estate Regulatory Authority (UPRERA) declared that the possession of a flat must be given to purchasers with all the amenities they require when they are unable to obtain the Occupancy Certificate (OC) has been extended beyond the time limit. 99acres analyzes the implications of the ruling and what the implications are and how UPRERA is faring in the resolution of homeowner's grievances.
The Uttar Pradesh Real Estate Regulatory Authority (UPRERA) released an order stating that property owners will receive possession if there is an Occupancy Certification (OC) remains in the process to be approved beyond 7 days. The authority will take the case into consideration as to be approved.
What has been the effectiveness of UPRERA been in settling homebuyer dispute?
According to UP-RERA reports, the authority received nearly 47,000 complaints in the period from 2017 through 2022. the body addressed nearly 90% of them. More than 75 percent of the complaints came from people in all of the National Capital Region (NCR), i.e. Noida, Ghaziabad, and Greater Noida.
It also stated that the 45,000+ complaints are towards the builders, while 500 complaints were filed against allottees, while around 200 complaints centered on real estate agents. To shed some light on the issue, homeowners claimed they believe that UPRERA has the ability to demonstrate an impressive number of complaints resolutions due to the fact that it will consider cases resolved when an order has been made. Since the agency does not have the power to issue directives the orders it issues are typically ineffective, which is a reason for homeowners' displeasure.
What exactly does the RERA provide about possession of property?
To be aware that Section 11 (4) (b) of the Real Estate (Regulation and Development) Act, 2016 (RERA) requires the promoter to get an Occupancy Certificate or the Completion Certificate (CC) at the appropriate authority depending on what the situation is. When the developer has submitted an intimation by the developer concerning the accomplishment of the project the authority is required to make a decision within 7 days and notify the shortcomings to the developer should there be there are any.
What is UPRERA's position regarding the issue?
According to Abrar Ahmed, former Secretary of UPRERA The property must be equipped with the essential amenities like electricity or water, sewerage as well as other internal infrastructure such as roads, as well as the certificates for electrical security and structural engineering, fire safety and lifts installation and safety certificates. If these certificates along with the completion certificates are submitted and the file is not rejected within the next seven days the authority will consider the file as an approval deemed to be given. The authority will also instruct the promoter to sign the sale deed or sub-lease agreement and transfer possession of the property to the owners.
What is the homeowner's reaction to this decision?
Although the decision may be in the best interests of homebuyers who've been waiting for possession of their homes however, it allows developers to cover up their mistakes. First, receiving the CC/OC within seven days appears difficult. However, if authorities fail to comply in error, the likelihood of improper examination are very high. homeowners will have no choice other than to accept the property or else be forced to make payments for interest.
With UPRERA seeking to offer an expeditious resolution for aggrieved parties, the agency may need to reconsider its decision-making process, as quick decisions might not be wise.