UP-RERA grants nine month completion extension to 45 projects
Real Estate

UP-RERA grants nine month completion extension to 45 projects

The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has recognised 115 projects that will be granted a nine-month extension for completion, out of which 45 projects had already been granted an extension.

UP-RERA has recognised 115 projects that will be given a nine-month extension for completion, with the regulator monitoring the construction activity.

The application is invited from developers by the authority, along with an affidavit that it will finish the projects within the extended registration period.

For the project's completion, the developers had to submit requests along with a financial plan.

As many as 45 applications had already been given an extended period of nine months for completion.

The move is anticipated to give relief to over 30,000 homebuyers who are expecting the flats' delivery.

Chairman of UP RERA Rajive Kumar said that the projects are being identified that can be completed, with a little push and support.

After receiving applications, the authority is conducting a physical inspection and analysing the financial status of the projects.

The original registration or extended registration of projects ending on or before 31 December 2021, in the National Capital Region (NCR) region, six months for non-NCR areas - are being given priority.

Now, many developers will be able to replan their handovers, and sufficient safeguards have been given for preserving customer rights, say experts.

In the case, the promoter is not in a position to finish the project within the additional period of extended registration, it would be required to enter into an memorandum of understanding (MoU) or agreement with the Association of Allottees (AOA), UP-RERA said.

For additional time for project completion, the promoters have to approach the authority by the terms and conditions decided between the AOA and the promoter.

Image Source


Also read: UP-RERA rejects registration application of Supertech projects

Also read: Rohtas Plumeria Homes project completion gets UP RERA nod

The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has recognised 115 projects that will be granted a nine-month extension for completion, out of which 45 projects had already been granted an extension. UP-RERA has recognised 115 projects that will be given a nine-month extension for completion, with the regulator monitoring the construction activity. The application is invited from developers by the authority, along with an affidavit that it will finish the projects within the extended registration period. For the project's completion, the developers had to submit requests along with a financial plan. As many as 45 applications had already been given an extended period of nine months for completion. The move is anticipated to give relief to over 30,000 homebuyers who are expecting the flats' delivery. Chairman of UP RERA Rajive Kumar said that the projects are being identified that can be completed, with a little push and support. After receiving applications, the authority is conducting a physical inspection and analysing the financial status of the projects. The original registration or extended registration of projects ending on or before 31 December 2021, in the National Capital Region (NCR) region, six months for non-NCR areas - are being given priority. Now, many developers will be able to replan their handovers, and sufficient safeguards have been given for preserving customer rights, say experts. In the case, the promoter is not in a position to finish the project within the additional period of extended registration, it would be required to enter into an memorandum of understanding (MoU) or agreement with the Association of Allottees (AOA), UP-RERA said. For additional time for project completion, the promoters have to approach the authority by the terms and conditions decided between the AOA and the promoter. Image Source Also read: UP-RERA rejects registration application of Supertech projects Also read: Rohtas Plumeria Homes project completion gets UP RERA nod

Next Story
Products

Next-Gen Seal

Type 8628VL is a next-generation mechanical seal for multiphase ethane and ethylene pipelines. Featuring dual non-contacting seal faces with spiral groove technology, it ensures superior reliability, efficiency, and environmental compliance under volatile pressure and temperature conditions, validated by peer-reviewed research.Company Name: John Crane Website: https://www.johncrane.com/ ..

Next Story
Products

Smart Kitchen Chimney

KAFF’s NEWBURY 90 DC chimney combines sleek grey tempered glass design with a powerful BLDC motor, 8-speed gesture/touch controls, multidimensional extraction, LED lighting, filter-less Smart Auto Clean technology, and a 12-year motor warranty delivering elegance, quiet efficiency, and long-term reliability.Contact: KAFFWebsite: https://shorturl.at/WKUkh ..

Next Story
Products

Premium Coverage

Nova 125 Premium Gypsum Plaster by Walplast offers 25 per cent more coverage at 125 m² per tonne, ensuring faster application and a flawless finish. With high whiteness, strength, crack resistance, and eco-friendly natural gypsum, it delivers durable, efficient, and sustainable wall solutions.Company: Walplast  Website: https://www.walplast.com/ ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?