The UP-RERA Authority has ordered to revoke the registration of these existing developers whose projects have been standing-out for more than one year.
The UP-RERA (greater Noida) has proposed to create a stress fund to complete such pending projects. The same shall be put before the board of Lucknow for deliberation and thereafter it shall be sent to the UP Government.
UP RERA has imposed a fine amounting to Rs.1 Crore on ANSAL API for the non-compliance of orders passed by the authority.
One of the first projects to be deregistered by UP-RERA and the subsequent proceedings will decide how well RERA will be in implementation.
The principal secretary of housing and urban planning and the interim chairman of Real Estate Regulatory Authority (RERA) went to the Ghaziabad Development Authority
Supertech plans to sell its assets to raise money for its real estate projects. The Real Estate Firm has various real estate projects based in Delhi and NCR
The government has shown grave concern regarding pendency in the real estate sector and announced a government-funded stress fund for unfinished projects.
As compared to RERA in other states Karnataka RERA has been disappointing since the day it got enacted. Builders and homebuyers both remained unhappy for many reasons.
Many builders in Noida and Greater Noida get ready to offer the possession of units to buyers despite the pendency of the Occupation Certificate.
The Uttar Pradesh RERA Authority keeping up with the spirit of the Real Estate Regulation and Development. That 7th Conciliation Forum of NCR was held by the Uttar Pradesh Real Estate Regulatory Authority recently wherein for the first time a settlement was achieved between the developer company Supertech and 14 Homebuyers.