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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 Supreme Court on Monday asked Chief Secretaries of all the States and Union Territories to respond to the queries raised by the Central government on the implementation of Real Estate (Regulation and Development) (RERA) Act, 2016 rules in their jurisdiction.