The Aryavarth Express
Agency(Uttar Pradesh): The Uttar Pradesh Real Estate Regulatory Authority (UP RERA), on a recent Saturday, issued a directive to real estate promoters, stressing the importance of using the official names for their projects as they appear in the maps approved by local authorities and recorded with RERA. This step is taken to eliminate confusion for individuals looking to purchase homes.
On March 16, UP RERA released a crucial directive concerning the approval of project maps by development authorities and the naming conventions that promoters should adhere to for their projects. The authority provided specific instructions to both development authorities, regarding the approval of maps, and to promoters, on naming their projects.
According to UP RERA, it is mandatory for promoters to register their projects under the names that are listed on the approved maps. This requirement also extends to the names of towers and blocks within the projects, which must align with those on the sanctioned maps.
The necessity for such directives arose from discrepancies noted between the names of projects and their towers as registered with RERA, and those on occupancy certificates (OC) or completion certificates (CC). These inconsistencies made it challenging for UP RERA to determine the completion status of projects and to process applications from promoters for the closure of project accounts.
Furthermore, it was observed that some promoters marketed their projects under different brand names than those registered with RERA, leading to confusion among potential and current homebuyers. To resolve these issues, RERA has now insisted that projects be marketed under the names with which they are registered.
Occasionally, development authorities approve maps in the names of entities other than the landowners. However, under the RERA Act, promoters must hold title over the project land, and the map must be sanctioned in the landowner’s name. Development authorities are thus required to sanction maps in the names of the landowners and ensure that the project and its sections are registered with RERA under the same names as stated in the sanctioned maps.
Sanjay Bhoosreddy, the Chairman of UP RERA, called on planning authorities and promoters to follow these new guidelines closely. These measures aim to streamline the real estate sector, ensuring transparency and trust among homebuyers, by alleviating the confusion caused by inconsistent naming practices. Compliance with these directives is expected to address the concerns of allottees and other stakeholders effectively.