In a landmark achievement, the Uttar Pradesh Real Estate Regulatory Authority (U.P. RERA) has issued registration certificates for 37 new projects in September 2024, marking the highest number of registrations in a single month. Among these, 27 projects are residential, 7 are commercial, and 3 are mixed-use developments.

Distribution of Projects by District

The majority of the new projects are concentrated in Ghaziabad and Lucknow, each featuring 7 developments. Gautam Buddh Nagar follows with 6 projects, while Mathura has 4, and Jhansi and Prayagraj each have 3. Additionally, Meerut and Agra each have 2 projects, and Bijnor, Gorakhpur, and Moradabad each have 1.

Guidelines for Transparency and Compliance

As part of the registration process, U.P. RERA has instructed promoters to prominently display the registration number, unique QR code, RERA website, and project collection account details in all advertisements and promotional materials. Promoters are also required to display an A3 size copy of Form C at their offices, site offices, and construction sites, ensuring easy access to information for potential buyers.

Investment and Development Impact

These projects will span approximately 593,041 square meters of land, with an estimated investment of around ₹7,198 crores aimed at developing 11,281 residential and commercial units. The emphasis on transparency aims to build trust among stakeholders and facilitate informed decision-making for homebuyers.

Regular Progress Reporting Mandated

To maintain accountability, U.P. RERA has established a mandatory quarterly progress report (QPR) system for promoters. This ensures that buyers and other stakeholders receive updates on the actual progress of construction and development, allowing for assessments of whether the promoters are meeting their development goals.

Enhanced Accessibility for Homebuyers

Homebuyers can easily access project information by scanning the QR codes provided on promotional materials. This will direct them to the project page on the RERA portal, where detailed documentation, including approved maps and layouts, can be verified.

Commitment to Transparency in Real Estate

Shri Sanjay Bhusareddy, Chairman of U.P. RERA, emphasized the importance of transparency in the real estate sector to boost stakeholder confidence. He congratulated the promoters of the 37 new projects and reiterated the necessity for clear communication of project-related information. This initiative is expected to have long-lasting benefits for the regulation and growth of the real estate sector in Uttar Pradesh. Promoters are encouraged to adhere strictly to the facts and approved plans when selling units, ensuring timely project completion and compliance with sales agreements.