Mutual Fund

Rera to hear pleas on unregistered projects

Apart from four regular sittings, the bench of Uttar Pradesh Real Estate Regulatory Authority (UP-Rera) will hold two special hearings every week to address the of buyers against unregistered real estate. The decision was taken by UP-Rera officials in a meeting with Noida and Greater Noida authorities on Wednesday. There are over 550 such complaints lying with the authority. Non-disclosure of an ongoing real estate project is a violation under the Act. Developers of such projects could be up to 10% of the total cost on first offence and jailed for subsequent offence. There are 554 complaints lying with UP-Rera, which have been filed by buyers of such projects that are not registered with us. While initially we were getting about 20-25 complaints per day, now the number of complaints has risen to over 50 a day and to meet this increased demand, we will be sitting in Greater Noida four times a week, Singh said. The total number of complaints made with UP-Rera so far is 8,211. Of these, 2172 have been heard.

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