Noida Dialogue

An initiative of Democratic Outreach for Social Transformation, DOST

Rera paperwork slowed down new projects: Builders

April 26, 2019

NOIDA: A long list of compliances that require detailed information about a project a builder wants to launch, land records and allied permits might have slowed down the application process for registration with UP-Rera, Credai has said.
The builder body has claimed that many developers who have secured land and are constructing residential or commercial projects in Noida, Greater Noida and Ghaziabad are now taking at least four to five months to put together the paperwork needed to register with UP-Rera. It said a single-window system might help smoothen the process.

“There’s a long list of compliances a builder needs to secure to get registered with Rera and as the builder needs to put everything together before applying, there’s a slow down in the process. Nevertheless, new projects are being launched and soon they will get UP-Rera permission,” said Subodh Goel, secretary, Credai-Western UP.

Some of the documents needed for application include, photographs, IDs and contact details of promoters, details of the promoter’s enterprise, authenticated copy of approvals, development plans, audited profit and loss statement along with income tax returns of the enterprise for last three fiscal. Authenticated copy of legal title deed and proforma of allotment letter are also required.

As per a UP-Rera document, 53 projects in UP are pending with it for approval, although 2,610 projects have come under its ambit since September 2018 when it came into force. At least 488 projects are yet to be registered. “We’ve cleared all projects that came to us with necessary compliances. As a rule, we clear a project within a month. Projects that do not have adequate documentation are sent back and builders are asked to return with full documentation. So, some get restricted,” said Balwinder Kumar, member, UP-Rera said.

Goel said: “What the builders now need is an easy way to secure compliance so that Rera registration becomes easy.”
An Anarock research report said that for residential projects, there has been a 9% dip in launch at NCR in the first three months this year, compared to the last three months in 2018. The number of launches for Noida this year is 740 units. It was 700 in 2018. In Greater Noida, the number decreased from 610 in 2018 to 590 this year. Ghaziabad recorded 350 unit launches in the last three months of 2018. There were no launches this year. Between October and December 2018, 1,660 projects had been launched.


Source : The Times of India