UP-RERA amends regulations, allows complaints in unregistered projects; caps transfer charges
Expert Insight
Bhavya Ventures Expert View:
UP-RERA changed the rules. Now you can complain about unregistered projects. Good move. Too many builders were taking buyers for a ride. No registration, no accountability. We saw this in Noida, Greater Noida and Ghaziabad. Many projects were stuck, buyers were suffering. Now, at least they can complain.
Transfer charges capped. This is big. Builders were charging crazy amounts for transfer of property. 2-5% of property value was normal. Now, it's capped at 1% or Rs 5,000, whichever is less. Good for buyers. But, let's see how it's implemented. We know how builders work. They'll find ways to charge extra. We've seen it with GST, with RERA itself. Still, it's a step in the right direction. Buyers need protection. UP-RERA is trying, but they need to do more. Ground reality is different. Builders still have too much power. We need more stringent rules, better enforcement. Buyers need to be aware of their rights. We, as brokers, need to guide them. It's not just about selling property, it's about being honest, transparent. That's what we do at Bhavya Ventures. We tell it like it is. No sugar-coating.
UP-RERA changed the rules. Now you can complain about unregistered projects. Good move. Too many builders were taking buyers for a ride. No registration, no accountability. We saw this in Noida, Greater Noida and Ghaziabad. Many projects were stuck, buyers were suffering. Now, at least they can complain.
Transfer charges capped. This is big. Builders were charging crazy amounts for transfer of property. 2-5% of property value was normal. Now, it's capped at 1% or Rs 5,000, whichever is less. Good for buyers. But, let's see how it's implemented. We know how builders work. They'll find ways to charge extra. We've seen it with GST, with RERA itself. Still, it's a step in the right direction. Buyers need protection. UP-RERA is trying, but they need to do more. Ground reality is different. Builders still have too much power. We need more stringent rules, better enforcement. Buyers need to be aware of their rights. We, as brokers, need to guide them. It's not just about selling property, it's about being honest, transparent. That's what we do at Bhavya Ventures. We tell it like it is. No sugar-coating.
Expert AI Insights
Q: Can I complain to UP-RERA about an unregistered project?
Yes, now you can. UP-RERA changed its rules to allow complaints about unregistered projects too.
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