In a significant move aimed at enhancing transparency and reducing confusion among homebuyers, the Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has mandated that promoters must use consistent naming for their projects across all official documents and marketing materials. This directive, issued on March 16, requires that the project names on maps sanctioned by development authorities and those registered with RERA remain the same.
The decision comes in response to discrepancies observed between the names of projects and towers as registered with RERA and those mentioned in occupancy certificates (OC) or completion certificates (CC). Such inconsistencies have made it challenging for UP RERA to verify the completion status of projects and process applications for the closure of project accounts.
UP RERA's statement highlighted that promoters were marketing their projects under brand names different from those registered, leading to confusion among potential and existing homebuyers. To rectify this issue, promoters are now required to ensure that the names of projects, including towers and blocks, align with those recorded in the sanctioned map and RERA registration. The authority also addressed a common issue where development authorities sanction maps in the name of entities other than the landowners.
According to the RERA Act, promoters must hold title over the project land, necessitating that maps be sanctioned in the name of the landowner. Development authorities are urged to sanction maps accordingly and ensure that project registration applications with RERA include identical particulars to those in the sanctioned map.
Sanjay Bhoosreddy, Chairman of UP RERA, has called upon planning authorities and promoters to adhere strictly to these guidelines. This initiative is part of UP RERA's ongoing efforts to solve problems faced by allottees and stakeholders in the real estate sector. By ensuring consistency in project naming, UP RERA aims to eliminate confusion among allottees regarding the actual condition of projects, thereby fostering a more transparent and trustworthy real estate market.
This directive is expected to significantly impact how projects are marketed and registered in Uttar Pradesh, bringing much-needed clarity and confidence to homebuyers navigating the real estate landscape.
