The Uttar Pradesh Real Estate Regulatory Authority (UPRERA) has appointed a consultant to conduct in-depth analysis of stalled projects, especially disputed ones in Noida and Greater Noida, and suggest solutions to resolve them, Chairman Rajive Kumar said.
The move will benefit homebuyers, Kumar said. The consultant will submit a report next month and UPRERA, in consultation with the state government, will decide on a course of action. He said UPRERA has taken many steps to complete stalled projects and provide relief to homebuyers. Most of the measures were taken in collaboration with stakeholders including homebuyers and promoters.
There are a large number of disputed or distressed real estate projects in Noida and Greater Noida. Thousands of homebuyers have invested in such projects, many of which are incomplete, and they have been waiting for their flats as they pay home loan instalments and rent.
Kumar said that as part of the relief measures, the regulator has taken up more than a dozen projects in collaboration with homebuyers and promotors. Two such projects have moved on to reach occupancy certificate stage, he said.
“We have, from UPRERA’s side, onboarded a consultant to go into an in-depth analysis of the projects in Noida and Greater Noida area and come up with possible solutions so that homebuyers can get their houses expeditiously. We expect to get that report next month and then, in consultation with the state government, we would be making the appropriate decision,” Kumar told.
Kumar said a software developer will soon be appointed for UPRERA digital version 2.0. He said UPRERA has been a pioneer in the use of technology and that’s why it has able to handle about 40,000 cases till date. He said UPRERA was the first to come up with e-courts in January 2020 and its complaints section was online from day one.
He said UPRERA has almost 38 percent of the country's complaints. Almost 75 percent of the complaints in Uttar Pradesh are from the National Capital Region, which includes New Delhi and certain districts of Haryana, Uttar Pradesh and Rajasthan.
More than 47,000 complaints were registered and 42,000 disposed of by UPRERA from May 1, 2017, to December 31, 2022, according to data from UPRERA. In 2022, about 7,050 complaints were registered and 9,600 resolved, the highest number disposed of. About 46,400 complaints were against promoters, 500 complaints against allottees and about 200 against agents.
