The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has issued 1,985 Recovery Notices to builders in last 2 years. This is to pay Rs 595.25 Crores as compensation to the homebuyers.
The Judicial work started on 4th September 2018 after the formation of UP RERA and a total of 28,020 complaints have been registered in last 2 years. 20,740 complaints are from NCR and 7,280 from Non-NCR parts of the state. Total complaints which has been disposed off are 16,136 from the NCR and 4,893 from the non-NCR.
Orders passed by RERA includes 5,036 Refund Orders and 7,242 orders for Grant of possession with Compensation.
Efforts of RERA have brought accountability & transparency in the Real Estate Sector.
The Monthly Average for Registration of new projects was 20 in 2018, 20 in 2019. 12 Projects on a monthly average have been registered till now in 2020.
Till now RERA has audited 247 Projects and Show Cause Notice have been issued for the Cancellation of Registration for 11 projects out of which the Registration of 3 Projects has been Cancelled.
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