UP-RERA sets standard format for possession letters

13 Jun 2024 CW Team

To prevent arbitrariness by promoters and eliminate disputes between promoters and allottees regarding possession letters, the Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has made a model format for the letter of offer of possession publicly available on the RERA portal. Sanjay Bhoosreddy, Chairman, UP-RERA, stated, "The offer of possession should solely serve the purpose of taking possession. Thus, we have provided a standard model offer of possession on the portal, and any other format will not be valid."

Promoters are required to issue possession offers to allottees using this standard format, ensuring no binding conditions are imposed. Once the OC/CC of the project is obtained, possession letters must be sent to allottees via registered email and residential address by post, with notifications also sent via SMS. The primary intent of the possession offer letter is to invite the allottee to take possession of their unit. If any construction work remains, the promoter must clearly outline the remaining work and the estimated completion time.

Any liabilities of the allottee must align with the sale agreement and be legally justified. Letters using demand notice, final demand notice, or similar language will not be considered valid possession offers. Possession letters should be sent within two months of receiving the OC/CC, and a copy of the OC/CC certificate issued by the development authority must be provided to the allottees at the time of possession. (Source: ET Infra)

Real Estate

02 Apr 2026

Indian real estate attracts USD 1.4 bn institutional investments in Q1 2026: Vestian

Institutional investments in India’s real estate sector touched USD 1.4 billion in Q1 2026, marking the highest first-quarter inflow since 2022, according to Vestian. While investments fell 62 per cent quarter-on-quarter due to an exceptionally high base in the previous quarter, they rose 74 per cent compared to the same period last year, reflecting sustained investor confidence despite rising geopolitical and macroeconomic challenges.Commercial real estate remained the key driver of investment activity during the quarter, accounting for 80 per cent of total inflows, sharply higher than 38 p..

VECV crosses 1 lakh annual vehicle sales milestone in FY26

VE Commercial Vehicles (VECV), a joint venture between Volvo Group and Eicher Motors, has surpassed the 1 lakh annual sales mark in FY 2025–26, recording its highest-ever commercial vehicle sales performance. The company said it sold more than 100,000 vehicles during the year, marking a major milestone aligned with the original vision of the Volvo–Eicher joint venture.The strong performance was supported by demand across categories. Light and Medium Duty (LMD) trucks contributed 47,789 units, accounting for 46.1 per cent of total sales. Heavy Duty (HD) trucks recorded 26,867 units (25.9 pe..

Rodic Digital & Advisory partners SatSure to deploy EO intelligence in public sector

Rodic Digital & Advisory (RDA), the strategic advisory and digital transformation arm of Rodic Consultants, has signed a strategic cooperation Memorandum of Understanding (MoU) with SatSure to jointly pursue opportunities in India’s public sector. The collaboration aims to integrate high-resolution Earth Observation (EO) data and geospatial AI into government workflows to strengthen monitoring, compliance, and operational decision-making across key sectors.The partnership combines SatSure’s Earth intelligence capabilities with RDA’s expertise in government digital transformation and ..