The up government on Tuesday decided to extend the deadline for registration for builders under the Real Estate (Regulation and Development) Act (RERA),until August 15, after which it will apply a graded penalty till September 30. The decision was taken by the state cabinet. This will allow builders who could not register themselves and their ongoing projects to do so. Giving details of the changes, interim RERA chairman and principal secretary Housing, Mukul Singhal said developers who have not been able to register on the UP RERA portal till Monday, can now do so without any penalty till August 15, after which graded penalty would be enforced. From August 16 to August 31, registrations would entail 1% penalty, from September 1-15 a penalty of 5% would be charged and from September 16-30, a penalty of 10%.
The total number of projects registered on the UP-RERA portal are 1725, with Gautam Buddha Nagar (Noida) having the maximum number of registrations at 652, followed by Lucknow, which registered 308 and Ghaziabad at 298 projects. A state government official said the total money received from the registration process is Rs 3.38 crore. “While developers have deposited Rs 2.91 crore as registration fee, Rs 46. 75 lakh came as agent registration fee and Rs 15,000 as complainant fee,” he said.
As the UP government had launched the website on July 26, builders had raised the issue that the delay in setting up the portal would make it difficult for them to beat the deadline of July 31 and has asked for an extension.
Source- Financial Express
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