Latest news with #UPRERA
Time of India
7 days ago
- Business
- Time of India
‘UP RERA issued 5,700 RCs since 2017, recovered Rs 1,410 crore'
Lucknow: The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has recovered Rs 1,410 crore against 5,700 recovery certificates issued since it started functioning in 2017, according to chairman Sanjay Bhoosreddy. Additionally, around 1,650 recovery certificates were mutually settled between promoters and allottees. UP RERA also facilitated resolution in 8,500 cases involving refunds and possession, valued at Rs 3,320 crore, through execution proceedings and conciliation forums in Lucknow and Greater Noida. In total, claims worth Rs 5,180 crore from 15,850 allottee-complainants have been discharged—either through recovery, mutual settlement, enforcement proceedings, or conciliation. The authority continues to play a pivotal role in safeguarding homebuyers' interests and ensuring accountability in the real estate sector.
Time of India
17-06-2025
- Business
- Time of India
₹128 crore returned to over 350 homebuyers this year: UP Rera
Lucknow: The Uttar Pradesh Real Estate Regulatory Authority (UP Rera) has claimed to have recovered Rs 128 crore from promoters who failed to complete their housing projects and deposited the amount into the bank accounts of around 376 homebuyers so far this calendar year. With this, UP Rera has, to date, transferred Rs 1,360 crore into the bank accounts of approximately 5,500 homebuyers who never received possession of their homes. "So far, we have issued over 12,900 recovery certificates (RCs) worth Rs 3,900 crore, predominantly in the national capital region (NCR). We assure every complainant (homebuyer) who has approached Rera that justice will be delivered. Either they will get their dream home or their money back from the promoters," said chairman of UP RERA, Sanjay Bhoosreddy. UP Rera has also facilitated settlements in approximately 8,500 complaints worth Rs 3,320 crore, involving both refunds and possession of units, through conciliation forums set up in Lucknow and Greater Noida. Additionally, around 1,650 RCs worth Rs 500 crore have been settled mutually between promoters and homebuyers. "We have tightened the noose around promoters who were exploiting loopholes in the system. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 2025 Top Trending local enterprise accounting software [Click Here] Esseps Learn More Undo Now, if any promoter fails to comply with or contravenes any order or direction issued by UP Rera, they will be liable to pay a penalty for each day of non-compliance," he added. In total, UP RERA has received 57,626 consumer complaints and successfully resolved 50,025 of them — about 86.81% of the total. The top five districts in terms of consumer complaints are Gautam Buddha Nagar, Lucknow, Ghaziabad, Varanasi, and Meerut. Lucknow: The Uttar Pradesh Real Estate Regulatory Authority (UP Rera) has claimed to have recovered Rs 128 crore from promoters who failed to complete their housing projects and deposited the amount into the bank accounts of around 376 homebuyers so far this calendar year. With this, UP Rera has, to date, transferred Rs 1,360 crore into the bank accounts of approximately 5,500 homebuyers who never received possession of their homes. "So far, we have issued over 12,900 recovery certificates (RCs) worth Rs 3,900 crore, predominantly in the national capital region (NCR). We assure every complainant (homebuyer) who has approached Rera that justice will be delivered. Either they will get their dream home or their money back from the promoters," said chairman of UP RERA, Sanjay Bhoosreddy. UP Rera has also facilitated settlements in approximately 8,500 complaints worth Rs 3,320 crore, involving both refunds and possession of units, through conciliation forums set up in Lucknow and Greater Noida. Additionally, around 1,650 RCs worth Rs 500 crore have been settled mutually between promoters and homebuyers. "We have tightened the noose around promoters who were exploiting loopholes in the system. Now, if any promoter fails to comply with or contravenes any order or direction issued by UP Rera, they will be liable to pay a penalty for each day of non-compliance," he added. In total, UP RERA has received 57,626 consumer complaints and successfully resolved 50,025 of them — about 86.81% of the total. The top five districts in terms of consumer complaints are Gautam Buddha Nagar, Lucknow, Ghaziabad, Varanasi, and Meerut.
Hindustan Times
30-05-2025
- Business
- Hindustan Times
Verify from our website before buying property: UP RERA to homebuyers
The UP Real Estate Regulatory Authority (RERA) has cautioned homebuyers to verify from the UP RERA before investing in a real estate project. Issuing an advisory on Thursday, the UP RERA urged homebuyers that they should collect all the information related to the promoter and the project in question. All relevant information related to a project approved by the UP RERA is available on its portal, said RERA. The homebuyer should be aware of the land of the project, the map of the project, other clearances or approvals of the project and specifications of the project, added RERA. 'It is also important for them to know about the credibility of the promoter, his reliability and his financial status. The UP RERA has provided all information about promoters on its portal,' said Sanjay Bhoosreddy, chairman, UP RERA. 'The homebuyer should go to the homepage of the RERA portal, click on 'Registered Projects' in the search link on the home page. A list of promoters and projects will open in front of him. On this page, he should search by giving the name of the promoter or the project or the registration number of the project,' Bhoosreddy added. He asserted that consumers could benefit from the RERA's regulatory work only when they themselves remain vigilant and do not invest in haste or on the basis of incomplete information. It may be pointed out that in a bid to strengthen transparency in execution of project and check misappropriation of funds, the UP RERA has made disclosure of funds collected from homebuyers mandatory for promoters to ensure transparency. The regulatory authority took the decision after getting complaints that promoters were not depositing funds received from allottees into designated 'Collection' account. After coming across several complaints related to misappropriation of funds by promoters, the UP RERA has warned stern action and legal consequences for violators. According to the Real Estate (Regulation and Development) Act, 2016, promoters are mandated to keep 70 percent of the funds received for project development in the projects' 'Separate Account' and use them exclusively for construction work. As per guidelines issued by UP RERA, every promoter must provide details of three project accounts, Collection, Separate and the Transaction accounts, on the UP RERA portal.
Time of India
30-04-2025
- Business
- Time of India
Bribery allegations: UPRERA sacks 12 employees
Lucknow: The Uttar Pradesh Real Estate Regulatory Authority announced on Tuesday dismissal of 12 members of staff on various positions, citing integrity concerns, whilst implementing enhanced internal monitoring measures. The announcement follows recent arrest of a UPRERA accountant by an anti-corruption bureau team, following a homebuyer's complaint in Greater Noida regarding bribery allegations . UPRERA chairman Sanjay Bhoosreddy confirmed the implementation of rigorous internal surveillance systems to ensure staff accountability and transparency. The authority now requires "an affidavit of integrity" from all personnel. The dismissed staff included three junior engineers, one assistant accountant, four computer operators, one help desk employee and one peon and action was taken at both, Lucknow headquarters and Greater Noida's NCR regional office. To enhance security measures, the authority installed CCTV cameras across RERA offices, with senior officers monitoring staff and visitor movements. Additionally, one case has been forwarded to the Uttar Pradesh Bar Council under the Advocates Act, 1961, demonstrating their strict stance against misconduct. Established in 2017 for homebuyer protection, UP RERA operates with a minimal workforce, maintaining effectiveness through regular training and performance assessment protocols.
Hindustan Times
29-04-2025
- Business
- Hindustan Times
12 UP RERA employees sacked over doubtful conduct in a year
In order to maintain integrity and transparency in its work, the Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has sacked 12 employees over the past one year due to their doubtful conduct, officials said. There are three junior engineers, two law clerks-cum-research assistants (LCRAs), one assistant accountant, four computer operators, a help desk employee and one peon among those sacked, officials said. According to UP RERA chairman Sanjay Bhoosreddy, an affidavit of integrity is also taken from every officer and employee in RERA. The number of officers and other staff in UP RERA is very less, although the nature of work is sensitive. The regulatory authority also provides training to all employees to improve their skills. According to the officials, CCTV cameras have been installed at all rooms in the RERA office and the movement of employees and visitors is also monitored by senior officers. Following the policy of zero tolerance towards indiscipline and misconduct, RERA has also sent a reference to the Bar Council of Uttar Pradesh in one case for action under the Advocates Act, 1961 The RERA headquarters is in Lucknow since 2017 and the NCR regional office in Greater Noida since 2018. RERA was established to fix the accountability of developers of real estate projects and to protect the interests of consumers.
