UPRERA extends registration of projects by 6-9 months due to 2nd wave
Noida: The UPRERA has taken a decision to allow nine-month further extension for registration for the real estate projects that have original registration or the extended registration ending on or before 31 December in NCR part of Uttar Pradesh and allow six-month in the non-NCR part of the state.
The decision has been taken in view of the 2nd wave of COVID-19 pandemic. There are some conditions or riders put by UPRERA for the extension. The extension of the project registration will go through rigorous monitoring by UPRERA. The extension will be allowed subject to the condition that the extension “would be without any prejudice to the lawful rights and claims of the homebuyers vis-à-vis the promoter”.
UPRERA has put another condition that these extensions will be given only in case of real estate projects with original registration or extended registration that ends on or before 31 December 2021.
Further, if the completion of a project is after 31 December 2021, the promoter of the project will be asked to fast-track the construction and complete the real estate project within existing period of registration, the authority said in a media release.
The NCR part of UP comprises mainly of Noida and Ghaziabad.
Interestingly, the RERA registration of at least 76 projects has lapsed in UP without completion. The builders of these projects are not even complying with the orders of UP-RERA. The total number of projects whose registration has lapsed could be much higher as the author is carrying out review meeting with debelopers of these projects and the process is going on. So far, review meetings have been held for only 76 such projects.