UP-RERA Streamlining Real Estate Project Registration and Dispute Resolution

New Delhi, May 30 (PTI) Uttar Pradesh's Real Estate Authority Chairman Sanjay Bhoosreddy on Friday said it is making efforts to streamline the process of registration of projects as well as dispute resolutions between builders and buyers.

Addressing a real estate conference at Noida, Bhoosreddy said the property market in the state has been growing with the application of registration of projects coming from many districts in the states. Real estate developers need to register projects to start marketing activities and sell their inventories.

“We are trying to make the system transparent as much as possible. We are trying to streamline within our available resources,” the Chairman said. The conference was organised by property news portal Realty & More.

Bhoosreddy said the UP-RERA is the smallest RERA in the country, with the largest area and the highest population in the country. “We have 75 cities to handle. Earlier, there were only a few districts, which were Gautam Buddha Nagar, Ghaziabad, Meerut, Lucknow, Agra and Kanpur.

Last year, 2024 when we had sanctioned the highest number of projects which is 261, around 62 projects were in the Delhi-NCR, and around 199 projects were outside NCR,” Bhoosreddy said. Now, he said the applications are coming from across the state. Bhoosreddy said the UP-RERA will hopefully register more projects this year.

The Chairman noted that there are more than 4000 real estate projects registered under UP-RERA, but the projects are larger with a significant number of units. Bhoosreddy said the UP-RERA is compiling the data of the number of units and proposed investments in these 4000 projects.

He said the authority is trying best to give RERA Registration number in 30 days from filing of applications by developers. He asked the builders to upload the documents in proper format to ensure that their applications do not get rejected.

“We are trying to make it transparent user friendly, both in terms of the complaint disposal and registrations/extension (of projects,” Bhoosreddy said. Time is the essence of a real estate project, he said.

“Completion is an essence in a real estate project, and timely delivery is the biggest factor, the best essence in a real estate project, because that builds your goodwill, and that build the general reputation of the developers as a whole and the real estate sector as a whole,” he said.

Bhoosreddy noted that the real estate sector has an important role to play in the growth of the Indian economy.