UP-RERA Boosts Transparency in Real Estate with QR Code Initiative
The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has introduced unique QR codes for approximately 1 lakh registered real estate projects to empower homebuyers and increase transparency in the sector.
Real EstateUp ReraQr CodeTransparencyHomebuyersReal EstateJul 28, 2024
These QR codes act as a direct link to the project's details on the UP-RERA portal, providing homebuyers with easy access to essential information about a project. By scanning the code with their smartphones, homebuyers can access a comprehensive range of information, including land documents, approved layouts and maps, project specifications, and timelines.
Additionally, buyers can review details about promoters, co-promoters, and registered agents for transparency. The code also offers access to quarterly progress reports, allowing buyers to monitor construction progress, as well as Occupancy Certificates or Completion Certificates to confirm the project's legal authorization for habitation. UP-RERA has made it mandatory for developers to include the project QR code in all documents shared with buyers, including booking forms, allotment letters, and Builder Buyer Agreements.
This ensures that homebuyers have access to verified information, enabling them to make informed decisions before investing in a property. The introduction of project QR codes by UP-RERA is a significant step towards a more transparent and informed real estate market in Uttar Pradesh, benefiting not only homebuyers but also responsible developers who can showcase their commitment to transparency and attract buyers with greater confidence.
Frequently Asked Questions
What is the purpose of the QR code initiative by UP-RERA?
The purpose of the QR code initiative is to empower homebuyers and increase transparency in the real estate sector by providing easy access to essential project information.
What information can homebuyers access through the QR code?
Homebuyers can access a comprehensive range of information, including land documents, approved layouts and maps, project specifications, timelines, and details about promoters, co-promoters, and registered agents.
Is it mandatory for developers to include the QR code in documents shared with buyers?
Yes, UP-RERA has made it mandatory for developers to include the project QR code in all documents shared with buyers, including booking forms, allotment letters, and Builder Buyer Agreements.
How will the QR code initiative benefit homebuyers?
The QR code initiative will empower homebuyers to make informed decisions before investing in a property, potentially saving them from financial risks or unexpected delays.
Will the QR code initiative benefit developers as well?
Yes, the QR code initiative will benefit responsible developers who can showcase their commitment to transparency and attract buyers with greater confidence.
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