The platform, called conciliation and dispute resolute (CDR) cell, will allow interested homebuyers and promoters to initiate a conciliation process and arrive at a mutual decision without going to court.
The Real Estate Regulatory Authority (Rera) in Uttar Pradesh has reminded developers and buyers about the payment module for projects. According to UP-Rera Act, developers are not allowed to take more than 10% advance payment before the sale agreement is executed. The sale agreement should include project details, payment dates, and possession information. Additionally, developers have been directed to sell units based on carpet area only, not super area.
The directions came after the regulator witnessed that many of the promoters were not filing the QPRs of their projects in time and some of them filed the subsequent QPRs without filing the pending ones.
Not updating quarterly progress reports of projects amounts to violation of the relevant provisions of the RERA Act, UP RERA Chairman Sanjay Bhoosreddy said.
"If any person is facilitating sale purchase in unregistered projects through advertisement or by any other means that is a violation of the Act," said the authority.