UP-RERA Enhances Project Registration and Dispute Resolution for Homebuyers
NEW DELHI: Uttar Pradesh's Real Estate Authority Chairman Sanjay Bhoosreddy, addressing a real estate conference in Noida, highlighted the ongoing efforts to streamline the process of project registration and dispute resolution between builders and homebuyers. The property market in the state has been witnessing growth, with a significant number of project registration applications coming from various districts.
Bhoosreddy emphasized the importance of transparency and efficiency in the real estate sector. He stated, 'We are trying to make the system as transparent as possible and streamline it within our available resources.' Real estate developers are required to register their projects to start marketing activities and sell their inventories.
The conference was organized by the property news portal Realty & More. Bhoosreddy noted that UP-RERA is the smallest RERA in the country but handles the largest area and the highest population. The authority is responsible for 75 cities, which previously included only a few districts such as Gautam Buddha Nagar, Ghaziabad, Meerut, Lucknow, Agra, and Kanpur.
In 2024, UP-RERA sanctioned the highest number of projects, with 261 projects registered. Out of these, 62 were in the Delhi-NCR region, while 199 were outside NCR. Bhoosreddy expressed optimism that more projects would be registered this year, with applications coming from across the state.
The Chairman mentioned that there are currently over 4,000 real estate projects registered under UP-RERA, many of which are large-scale with a significant number of units. UP-RERA is compiling data on the number of units and proposed investments in these projects.
Bhoosreddy also discussed the authority's efforts to issue RERA registration numbers within 30 days of receiving applications from developers. He urged builders to upload documents in the correct format to avoid rejections. 'We are trying to make the process transparent and user-friendly, both in terms of complaint disposal and registrations/extension,' he said. He emphasized that timely completion and delivery are crucial for building goodwill and the reputation of the real estate sector.
Bhoosreddy highlighted the importance of the real estate sector in the growth of the Indian economy. 'Completion is the essence of a real estate project, and timely delivery is the biggest factor that builds goodwill and the reputation of developers and the sector as a whole,' he concluded.
