UPRERA Expresses Displeasure Over Non-Registration Of Properties By Prayagraj Development Authority
Uttar Pradesh Real Estate Regulatory Authority (UP RERA) Chairman Sanjay Bhoosreddy has expressed strong displeasure over the non-registration of properties belonging to nine allottees of the Alaknanda Project by the Prayagraj Development Authority, despite the UPRERA order and the issuance of a completion certificate (CC) in January 2024. Consequently, the chairman has referred all...
Uttar Pradesh Real Estate Regulatory Authority (UP RERA) Chairman Sanjay Bhoosreddy has expressed strong displeasure over the non-registration of properties belonging to nine allottees of the Alaknanda Project by the Prayagraj Development Authority, despite the UPRERA order and the issuance of a completion certificate (CC) in January 2024. Consequently, the chairman has referred all nine matters to the RERA adjudicating officer to ensure the registration and execution of the work under the Civil Procedure Code (CPC).
Additionally, the Chairman of UPRERA has directed the release of recovery certificates for the payment of interest to the allottees from 2016 onwards, to compensate them for the prolonged delay caused by the promoter's inaction.
Furthermore, the Chairman emphasized that the non-registration of properties by the Prayagraj Development Authority, despite UP RERA's order and the completion certificate, is not only objectionable but also economically disadvantageous for the authority.
He highlighted the importance of government authorities proactively ensuring the registration of properties in the names of the allottees. Delays in registration and possession result in increased financial burdens due to interest payments.
He further mentioned that UP RERA's role is to provide relief to the allottees as per the provisions of the RERA Act. This proactive approach by UP RERA aims to uphold transparency, accountability, and the rights of homebuyers in the real estate sector, ensuring a more reliable and trustworthy real estate market in Uttar Pradesh.
Press Note UPRERA/24/May/2024