Summary of this article
Buyers should first ensure that promoter has valid title over land on which the project is proposed to be constructed. Land should not have any disputes, encumbrances or legal proceedings against it.
Check the sanctioned building plan and layout sanctioned by the authority.
Buyers should also check if any complaints have been made against the promoter and in respect of what.
As property investments continue to rise across Uttar Pradesh, the Uttar Pradesh Real Estate Regulatory Authority (UPRera) has urged homebuyers to exercise greater caution before purchasing any property. In the new advisory for buyers to stay alert against fraud, delay and litigations, the authority has mentioned the checks each buyer should do before buying property.
The Authority has also encouraged buyers to leverage UPRera’s online portal to know all details about their desired projects before investing, and, thus, help them make well-informed decisions in a transparent manner.
Steps To View Project Details On UPRERA Portal
Buyers can check for the legitimacy and status of every registered project on the UPRera portal by simply following the steps below:
Visit the UPRera portal
Click on the Registered Projects tab.
Search the project either by Project Name or by Registration (PRJ) Number.
Click on the Blue Eye icon against the project name to view the project details page.
To view basic details about the project, such as Project Start Date, Completion Date, Registration number (Form-c), promoter name, etc.
Click on project details to see all information uploaded by the promoter about the project, such as development details about the project, project bank details, land details, documents uploaded, etc.
Buyers can now make their decision by referring to this authentic information. Homebuyers may also reach out to UPRera’s helpdesk numbers 9151602229 and 9151642229 for assistance.
Checks to Perform Before Investing in Property
1. Land Title and Ownership
Buyers should first ensure that the promoter has a valid title over the land on which the project is proposed to be constructed. Land should not have any disputes, encumbrances or legal proceedings against it. Ownership details of land uploaded on the portal bring transparency to the authenticity of the project.
2. Sanctioned Map
Check the sanctioned building plan and layout sanctioned by the authority. Ensure the project being offered for sale/ construction is exactly what has been approved. In case of discrepancy between what is being sold and the approved plan, legal troubles and future modifications are sure to happen.
3. Match With Inventory Details
It is advised that homebuyers check the unit they are being offered (whether it's a flat, plot or commercial space) with inventory details uploaded on the portal. This will validate that the unit is registered on the portal and is up for sale. One way to avoid duplicate/fake sales of property.
4. Project Bank Account Details / Collection Account
Under Rera, promoters are required to deposit a minimum of 70 per cent of the amount collected from buyers into a project-specific collection account. Buyers can check the same to ensure that the money paid by him/her is used only for the construction of that project.
5. Quarterly Progress Report (QPRs)
Promoters are required to update the progress of their projects on the portal as and when any work is carried out. This is done by uploading Quarterly Progress Reports (QPR) of projects on the portal. Buyers can check these QPRs before buying a property to know the construction status of the project and how far the promoters have stuck to the said timeline.
6. Complaints Filed Against The Promoter
Buyers should also check if any complaints have been made against the promoter and in respect of what. If the number of complaints pending against the promoter is more, it should be a cause of concern.
Speaking about the advisory, UPRera Chairman Sanjay Bhoosreddy said, “While UPRera is committed towards providing transparency in real estate transactions by leveraging digitalisation, we also urge homebuyers to not take any decisions without complete information. We hope that this advisory will help buyers take an informed decision and prevent them from falling prey to fraud.”
Buyers should refrain from trusting advertisements or making decisions based on client visits. Whereas these are just influencing factors used by developers and agents, authenticated information about the project can be known only on the UPRera portal.
