The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has issued stern warnings to approximately 400 real estate projects across the state. The projects, which have failed to upload essential land records and project maps on the RERA portal, now face the possibility of being placed in an “abeyance” list.
This action could severely impact their ability to attract new buyers, as the projects would be flagged as non-compliant. The UP RERA, in its effort to ensure transparency and accountability in the real estate sector, conducted an extensive review of all registered projects. The review revealed that numerous projects, particularly those registered during the initial phase of RERA implementation, have not adhered to the mandatory requirement of uploading critical documentation.
Despite continuous reminders and warnings since 2018, the promoters of these projects have failed to comply with the regulatory requirements. The regulatory body emphasised the importance of these documents for prospective buyers, allowing them to make informed decisions based on verified information regarding land ownership and project approvals. The absence of such documents on the RERA portal raises concerns about the credibility of the projects and the risk of potential fraud, which could leave homebuyers vulnerable.
During its 152nd meeting, held on July 30, UP RERA officials underscored the need for strict compliance. The chairman of the meeting highlighted the misleading nature of advertisements by these promoters, who often cite only the RERA registration number without providing adequate information about the project’s approval status. This practice could mislead uninformed buyers into investing in projects with unverified credentials, further emphasising the need for stringent regulatory oversight.
The UP RERA has now put these promoters on notice, warning that failure to upload the required maps and land records will result in severe punitive measures. The authority urged buyers to exercise caution and avoid investing in projects listed as “abeyance” until all necessary documentation is duly provided. The authority’s actions aim to foster greater transparency in the real estate market, ultimately safeguarding the interests of homebuyers and ensuring that they have access to accurate and complete information before making investment decisions.
