UP-RERA Streamlines Real Estate Project Registration and Dispute Resolution

New Delhi, May 30 (PTI) Uttar Pradesh's Real Estate Authority (UP-RERA) Chairman Sanjay Bhoosreddy has announced that the authority is making efforts to streamline the process of project registration and dispute resolution between builders and buyers. Addressing a real estate conference in Noida, Bhoosreddy emphasized the growing property market in the state, noting that applications for project registration are coming from many districts.

Real estate developers are required to register their projects to start marketing activities and sell their inventories. Bhoosreddy stated, “We are trying to make the system as transparent as possible, utilizing our available resources.” The conference was organized by the property news portal Realty & More.

UP-RERA is the smallest RERA in the country but has the largest area and population to manage. Bhoosreddy highlighted that the authority handles 75 cities, which initially included only a few districts such as Gautam Buddha Nagar, Ghaziabad, Meerut, Lucknow, Agra, and Kanpur. In 2024, UP-RERA sanctioned 261 projects, with 62 in the Delhi-NCR region and 199 outside NCR. Now, applications are being received from across the state, and Bhoosreddy expects more projects to be registered this year.

Bhoosreddy mentioned that over 4,000 real estate projects are registered under UP-RERA, with a significant number of units and proposed investments. The authority is compiling data on the number of units and investments in these projects. Bhoosreddy emphasized the authority's commitment to providing RERA registration numbers within 30 days of receiving applications. He urged builders to upload documents in the proper format to avoid rejections.

The Chairman also highlighted the importance of transparency and user-friendliness in both complaint disposal and project registration/extension processes. He stressed that timely completion is crucial in real estate projects, as it builds goodwill and enhances the reputation of developers and the sector as a whole. Bhoosreddy noted that the real estate sector plays a vital role in the growth of the Indian economy.

In conclusion, UP-RERA's efforts to streamline project registration and dispute resolution are aimed at fostering a more transparent and efficient real estate market in Uttar Pradesh, benefiting both builders and homebuyers.