UP RERA new rule: What flat buyers should know

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has introduced a new rule that will require developers in the state to obtain digitally certified project progress reports from architects, engineers, and chartered accountants before filing their quarterly reports. This change aims to increase transparency and reliability in project updates for homebuyers and other stakeholders.

Under the new system, the professionals will submit their digitally signed certificates directly through the UP RERA portal, eliminating the need for developers to file additional scanned copies of certificates, photographs, and videos. The process will follow this sequence: first, the architects, engineers, and CA certify the project's progress, then they submit their digitally signed certificates through the UP RERA portal.

Only after receiving these certified certificates can developers file their quarterly progress reports.

For homebuyers, the primary benefit is expected to be more reliable and up-to-date information about project progress. The digitally submitted certificates will help the regulator ensure the accuracy and transparency of the data available on its portal. The new system will also aid in tracking project progress and setting quarterly targets under the upcoming RERA 2.0 system.

RERA 2.0 refers to the new web portal being developed by UP RERA, which is expected to be operational soon. Once the portal is live, developers will no longer need to wait for RERA 2.0 to be launched to benefit from the digitally certified project data for setting quarterly targets and monitoring project progress. However, during the transition period, developers will continue filing their QPRs through the existing UP RERA portal, with help desks set up to assist with the new system.

These help desks and a detailed standard operating procedure (SOP) will support developers and professionals in adapting to the new certification and reporting process.