UP-RERA issuing Strict Guidelines to help Homebuyers take action against Defaulting Builders

16,Dec, 20  |  BY ADMIN    |   UPDATES    |   0 COMMENTS

The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) is coming out with a set of Standard Operating Procedures (SOPs) for home buyers. These SOP are a set of guidelines to be followed by homebuyers if they find out any builder is not honouring the orders of the Authority . Soon the SOP List will be uploaded on UP-RERA Website.

At the moment there are 65 defaulting developers in the state. UP RERA has passed many Orders in favour of lot of homebuyers but defaulting builders have not bothered to comply to the orders.

UP-RERA is looking for an auction house backed by government to trade off the properties which has been secured from defaulter builders for refunding to the buyers, though only 4 builders have disclosed their assets out of the 65 defaulter builders so far.

Many builders have ignored the orders of UP-RERA, compliance deadlines have been reinforced on builders and the regulator claims to be have started making individual follow-ups to see that each order is enforced. Each registered builder has a dashboard on UP-RERA Website on which they update their compliance details. Soon regulatory will reinforce some measures so that the remaining builders comply with the orders.

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