The Uttar Pradesh State government is launching the Real Estate Regulatory Authority (RERA) website on Wednesday which will maintain records of builders and will accessible to the public.
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The government is taking this step to regulate the Real Estate industry in the state which has been growing at a steady pace over the past few years.
The main aim of this website is to eliminate the threat of builders who take up the money from their clients but fail to deliver on their promise — sometimes due to financial reasons and at other times due to disputes over the property.
Prospective buyers will now be easily able to verify details of the builders including their previous experience and registration number.
Mukul Singhal, Principal Secretary (Housing) said the website has been developed to ensure that people do not have to take rounds of offices to verify builder details and that at a click of a button they can have complete information on the builders from who he or she is planning to buy a property.
As soon as a builder or developer enters the required data about their company, a unique identity number will be issued immediately. Till now, this whole process would have taken at least 45 days.
The officials of the Housing Department said that after an initial delay the state was ready to implement RERA with immediate effect.
Builders and developers can register themselves by July 31. The government is doing this to get rid of red-tapism in the process of such registrations but the builder community doesn’t seem too pleased by the new RERA website of the UP government.