UPRERA
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UPRERA i.e. the Uttar Pradesh Real Estate Regulatory Authority is soon going to open a single-window system to offer multiple facilities to the citizens and developers in one go.

Rajiv Kumar, UPRERA Chairperson said that the system will get operational from mid-September.

Both the residents and the developers will be at an advantage as they will get maps sanctioned easily while filing a complaint will also become easier along with this NOC for projects and secure progress reports can also be fetched easily under the single window system.

He also said that presently the authority is working on the software and all the details about the single window system will be shared on the portal. The residents will be able to lodge complaint in case they are duped by the builders or the possession is being delayed along with asking for promoter’s details.

Earlier in the board meeting that held in July, the authority tabled the proposal to create stress fund for the completion of stalled projects as they invited suggestions and discussion on the same that will be forwarded to the state government.

The homebuyers are demanding to form a stress fund help to developers like Jaypee, Amrapali and more as they are facing a financial crunch. The Amrapali group has 30,741 stalled flats while Jaypee has over 22,000 stalled flats.

Both, the Union and the State Government are yet reply to on the formation of stress fund.

Balwinder Kumar, UPRERA member informed that the proposal is ready and the same will be reviewed by the board in Lucknow. Being a RERA authority we want to balance the situation by protecting the right of homebuyers as the law takes its due time to take actions against the developers. He also said that the authority will mediate to complete the Projects.

He further said that the authority wishes to get financial assistance to complete the stalled projects as huge funds are required to construct the same. Also, the homebuyers cannot make payments and the banks do not lend loans on mid-stuck projects.