Real Estate Regulatory Act|RERA Uttar Pradesh- RERA REGISTRATION

RERA Rules in Uttar Pradesh are notified on 27th October 2016. There are a lot of rules which were diluted in Uttar Pradesh which was supporting builders due to which many buyer association approach government to make it pro buyer act. Based on the request Aditya Yogi cabinet promises to change but still, there is no update from the authority on the status of implementation.
In Uttar Pradesh charges for broker registration under RERA will be Rs. 25,000/- as individual registration and Rs. 2, 50,000/- for other entities. RERA in Uttar Pradesh will be applicable to both ongoing and new launch project. RERA fees for promoters will be based on the type of the project i.e. Residential, Commercial or Mixed land use.

Definition of ongoing projects Penalties for non-compliance Payment schedule Norms for escrow withdrawal Clause for structural defects
Diluted Diluted No clarity in the notified rules In Line No clarity in the notified rules
Includes ongoing projects with conditions: excludes projects where:
services have been handed over to the local authority for maintenance
• where common areas and facilities have been handed over to the association or resident's welfare association for maintenance
• all development works have been completed and sale/ lease deeds of 60% of apartments/plots/houses have been executed; and 
• where all development works have been completed and application has been filed with the competent authority for issue of completion certificate.
Compounding of offence clause included to avoid imprisonment; 10% of project cost as penalty   70% of the amount realised by developers to be deposited in a separate account; but no clarity on withdrawal mechanism