Fwd: [NEFOWA] UP RERA

[Rahul Agarwal]

Today honorable UP CM launched #RERA portal

www.up-rera.in

Following are key points of bill

1) All projects ongoing/new/upcoming projects (if not received completion certificate) are part of it.

2) All builders and brokers must register themselves by 31st July failing this will attract 10-20% penalty.

3) If not registered then they can't sell property.

4) Delay penalty is same bank interest rate paid by buyers or rather which builder charged to buyers. (Builder will cry as mostly they took 18-24% delay penalty.

5) Builder can not changes layout plan etc midway 

6) Builder can only sell real carpet area. (Super Area concept gone)

7) Buyers can raise their grivences online and within 30 days they will receive clarity/solutions 

8) Builder can not sell Open Parking it's non salable and property of RWA

9) All commercial property if that is part of project must be handed over to RWA. (Wow factor of law)

10) Builder is bound to rectify errors for a period of 5 years from date of delivery.

11) Builder can't ask money other then agreed sum.

12) Any violation of rule by builder can attract fine/jail/both 

In short law is notify and it's real tough to builder. Now it's upto us to get most benefits from it. 

Note: For details please download FAQ documents from website.

#Be_awake_Stay_United

Thanks

Gopi Raman Alok

Team Nefowa