Page 50 - RERA Performance Report 2020

50 U.P. RERA PERFORMANCE REPORT 2020

I remember when during our visit to Maharashtra RERA a member of the Maharashtra
RERA had asked me about the background of the chairman and the members of U.P. RERA
and who after listening to my answer had remarked that U.P. has not restricted itself to just
one set of expertise and experience. The Authority, over the short period of just three years,
has been able to fulfil almost all its mandates and working on new strategies and solutions
and has set some new short- and long-term goals for future.

The real estate sector is one of the most important areas of the socio-economic life of the
country. The sector accounts for 6-7 percent of the national GDP and is the second largest
employer in the country. The new India, especially urban and aspirant India, will need a
blooming disciplined real estate sector for its housing needs. U.P. RERA has to meet so
many aspirations of various stakeholders, however, for the sake of convenience of the
readers, we shall be restricting ourselves to the following only:

• Regulation of the real estate projects and monitoring of separate account of the projects
• Adjudication of complains
• Execution of orders
• Constructive interface with all stakeholders
• Redressal of public grievances
• Policy initiatives

Regulation of the real estate projects and monitoring of separate account of the projects

U.P. RERA initially provided facility for web-based registration of the projects and the real
estate agents, and subsequently the facility for updating quarterly progress reports and
application for extension of registration was provided. The Authority realized from the very
beginning the sector was beset with huge challenges. The Authority could not ignore the
incidence of a large number of extra-ordinarily delayed incomplete projects and a large
number of allottees waiting for their houses.

The Authority is working on diversified strategies to tackle such issues. These include the
audit of the projects of the errant promoters, empanelment of reputed audit firms,
empanelment of reputed third party construction consultants, inspection of the lagging
projects by RERA technical cell, scrutiny of portal compliances, scrutiny of all relevant
materials in Project Management Division (PMD) and consequent legal action based on the
report of the PMD. U.P. RERA is also proposing to engage an agency for drone survey of the
real estate projects so that it is aware of the actual status of the project and make timely
interventions.

As per the provisions of section 8 of the Act, the Authority, both in cases of revocation of the
registration or the lapse of the registration of the project, is required to consult the state
government in every case when it assigns the task of completing the remaining
development work to the AOA or the competent authority, as the case may be. The U.P.
RERA in order to streamline the facilitation of work under section 8 of the Act, had proposed
a policy to the government for proceeding in all such matters. The state government has
issued the general policy guidelines to be followed in all such matters. This will facilitate
quick action towards the completion of the project.

The policy guidelines issued by the government, inter alia, provide for a quick audit of such
projects and the formation of a project advisory and monitoring committee under one of
the members of the Authority from the stage of inviting the proposals from AOA to the
completion of the work in the project. So far, the audit of 244 projects has been got done
and, based on the findings of the audit and the inspections, action under section 7 of the
Act has been taken in respect of 30 projects.