UP RERA - Registration Process, Fees & Charges

In India, before RERA came into force, the real estate market was wholly unorganised and scattered; real estate transactions were not regulated, and manipulation in buying and selling was a headache for the ordinary people and the government. To solve all these issues, in 2016, the Indian parliament passed the Real Estate (Regulation and Development) Act (RERA) to regulate this unregulated and scattered market, protect buyers from any manipulation, and grow this sector rapidly. 

RERA was first introduced in 2013. The Act was first implemented in 2013 and went into effect on May 1, 2017. Although it is a Central Act, implementing RERA depends on the specific state, as real estate property is a state issue. RERA is a state-specific law. The Uttar Pradesh Government drafted and issued its RERA regulations on October 27 2016, and officially launched RERA's website on July 26, 2017. UP RERA website on July 26 July 26, 2017.

Why did the RERA Act pass?

The RERA Act was passed in 2016 by the Indian parliament to organise the Indian real estate sector and to boost it to have further rapid infrastructure development as well as to monitor the whole transaction happening around it so the government can quickly assess if there is any illegal transaction taking place or not. The Act required the establishment of a Real Estate Regulatory Authority across different States (like UP RERA) as the regulatory body charged with handling customer complaints.

It made it mandatory for every state to establish its own RERA authority to cater to all the solutions for the buyers and sellers and simultaneously become a mediator between real estate transactions; RERA was supposed to solve the grievances and make a fast grievance redressal system. The RERA Act also mandated that all developers and real estate promoters register their projects and themselves for more openness.

What UP does RERA do?

UP RERA ensures complete transparency in every project; the details are disclosed to ensure everything is going well. Ensure that all the real estate project details are registered within the state. To register all the real estate agents. To make a system that can solve the issue rapidly. Create an Appellate Tribunal to handle appeals expeditiously. Make suggestions to the government on the real estate sector.

RERA Rules in UP

1. Each state must set regulators and Appellate tribunals per RERA to resolve disputes between builders and buyers. These bodies will regulate commercial and residential real property transactions.

2. Developers must disclose all relevant details, including approvals from the government, plans for projects and layouts, land title status, the completion date and so on. To UP RERA and the consumers.

3. Builders, developers, and real estate brokers must be registered under RERA. They are also required to have any project with more than 500 square metres and 8 apartment units registered before launch.

4. It also makes sure that builders finish their work within the timeframe. If a builder delays the completion of a project, they will be held accountable for the cost of an interest rate that is the same as a client's loan EMI.

5. Promoters are required to store 70% of the money they collect from buyers in an additional reserve account to cover building expenses.

6, The Act provides a standard contract of sale between sellers and buyers.

7. Promoters and developers who do not comply with the Appellate Tribunal's rules may face fines of up to 10% of the project's expenses and could be imprisoned for up to 3 years.

RERA agent registration fees in UP and Other Charges

How to Register Projects under Uttar Pradesh RERA

Step 1: Visit the UP RERA official website
Step 2: Click 'Registrations' in the menu bar and then click 'Projects' from the pop-up menu.
Step 3: Select the type of user, i.e. Promoter or Agent. Enter your User ID/Email ID and Password along with the Captcha code.
Step 4: Click 'Login' to be redirected to the project registration webpage.
Step 5: Fill in the required details and upload the supporting documents of the project being registered.
Step 6: Complete the registration process by paying the registration fees and clicking on 'Confirm'.

Steps to Register as a Real Estate Agent under UP RERA

1. Visit the UP RERA website and click on the Registrations tab, then choose Agent
2. Fill in your information: Name, father's name, phone number, email address, PAN, Aadhaar number, etc.
3. Upload scanned copies of your PAN card, Aadhaar card, and photo.
4. Provide bank account details like account number, bank name, and IFSC Code, and click Save and Pay.
5. Pay the registration fees using credit card, debit card, NEFT RTGS or UPI.

Steps to Register a Complaint under Uttar Pradesh RERA

1. Go to the UP RERA website
2. Click on Complaints and select Register Complaint
3. Choose how to log in by Email or OTP. If you're new, click Register
4. Fill in your details and create a password
5. Log in and click on Register New Complaint
6. Answer simple questions about your complaint
7. Provide information on the party involved and the project
8. Click Next to finish registration

Conclusion

In the above article, I have explained the significance of RERA, how it works, and its rules to regulate; RERA is essential to maintain transparency in the real estate sector, and its regulations and importance should be known by everyone who wants to buy a real estate property, it will save you from any fraudulent that may happen with you.