UPRERA to builders: Register by Aug 15 or pay penalty
The watchdog body, however, has decided to give a 15-day grace period to the developers to register their projects keeping in mind the delay in the launch of its website (July 26) to facilitate online registration.lucknow Updated: Aug 02, 2017 15:34 IST
The fledgling UP Real Estate Regulatory Authority (UPRERA) issued its first diktat to builders: register your project by August 15 with the authority or be ready to pay a penalty. The diktat comes a day after the deadline to register expired on July 31.
The watchdog body, however, has decided to give a 15-day grace period to the developers to register their projects keeping in mind the delay in the launch of its website (July 26) to facilitate online registration.
Principal secretary, housing, Mukul Singhal, who has been appointed interim chairman of UPRERA, said: “Promoters and developers, who register their ongoing projects by August 15, will not have to pay any fine. Subsequently, a penalty of 1% cent till August 31, 5% cent from September 1 to 15 and 10% from September 16 till 30 of the estimated cost of the project will be levied on those who apply for registration.” With the Yogi Adityanath government yet to notify the new revised rules, technically, a large number of builders and developers still do not come under the ambit of UPRERA under Uttar Pradesh Real Estate (Regulation and Development) Rules, 2016 notification dated October 27, 2016.
“We submitted the revised rules to the government panel on the subject more than a month ago,” said an official on condition of anonymity.
Sources claimed a section of the bureaucracy was dragging its feet on the issue.
“Some officers still feel that registration should not be made mandatory for projects which are already more than 60% complete,” an officer said.
Special secretary, housing, Amitabh Prakash, who has been appointed secretary, UPRERA, however, denies any go-slow on the new rules.
“Though I have just taken over charge, you can rest assured that the new rules will be notified very soon, maybe in a day or two,” he told HT.