Noida, 4th September 2018: As per the latest real estate news, RERA act, which has been put into practice to solve the issues faced by the homebuyers and the realty sector, on Friday led the Noida, Greater Noida and Yamuna Expressway Industrial Development Authority (YEIDA) to provide details of 500 home projects in which homebuyers have filed complaints looking for justice. This process was pending for a while before the officials decided to proceed with it. However, it won’t take actions against the cases which are pending in the Supreme Court.
Following RERA, a total of 3,336 complaints have been found that are yet to be addressed. Of those 3,336 pending complaints, 80 percent are from Noida and Greater Noida region.
RERA member Balvinder Kumar gave a pro forma to fill particulars of each builder so the bench can start to tackle the grievances of homebuyers from September 4 at the Greater Noida office.
After meeting with the Noida Authority’s CEO, Mr. Alok Tandon at the Sector-6 administrative office, Balvinder Kumar said that they want details of every Housing project as per the pro forma so that they can find the essential information. This info will be used at the time of managing that particular project. They will concentrate on the reconciliation of each project in the initial phase to deliver flats. If the reconciliation procedure does not function, then they will issue orders.
He also said that there are a total of 500 housing projects in both Noida and Greater Noida for which the homebuyers have registered complaints. Until date, RERA has dealt with around 1,400 complaints, and the recovery process is underway for some instances.
The Real Estate (Regulation and Development) Act or RERA has been passed in 2016 by the Parliament with the goal of protecting the interests of homebuyers and boosting investments in the real estate sector.
The Uttar Pradesh housing and urban planning department on October 27, 2016, notified UP Real Estate (Regulation and Development) Rules, 2016, to make way for the formation of this Real Estate Regulatory Authority.
As per the real estate news India, Last week, a Delegation of UP-RERA visited Maharashtra to examine the manner by which the homebuyers’ issues were solved there since it was one of those innovative states concerning property growth. Kumar said that Maharashtra RERA had 2,000 complaints regarding the housing projects. The RERA intervened in the issue and attracted the homebuyers and developers on the same table for discussion. They resolved the claims and delivered 1,800 projects. They have decided to adopt the same method to provide the projects in Uttar Pradesh, he added.
Officials of UP-RERA and Noida Authority held a meeting to discuss the delivery process of the houses and homebuyers’ grievances through reconciliation. RERA CEO, Chairman, and Member, Alok Tandon, Rajive Kumar, and Balvinder Kumar respectively attended the meeting. The UP-RERA bench will become functional from September 4 in Greater Noida.
Author: Somdeepa Bhattacharjee
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