In an effort to streamline operations in the real estate industry, UP-RERA (Uttar Pradesh Real Estate Regulatory Authority) has digitized several processes. This move comes in adherence to the norms that the government of Uttar Pradesh has come up with. This is a welcome move for the real estate industry. As a direct outcome of the measure, the burden of regulatory compliance would be significantly reduced.
As per the UP Real Estate (Regulation and Development) Rules, 2016, an action plan is in place to digitize 10 forms. Out of this, seven forms were already online. These could be accessed through the official website of UP-RERA. This leaves three forms that are yet to be digitized. On July 16, these three forms were made online, as per the inputs of the authorities.
The processes that have been made online include the registration application in Form A for real estate projects and the application for registration extension in Form E for real estate projects. Other processes that have been digitized include Form C, where real estate agents can obtain registration certificates. In Form K, the process of registration certificate renewal for agents has been digitized. Besides, promoters can now avail the online processes to get the accounts audited each year. Therefore, the real estate operations can take place faster now.
The authorities have also set up e-courts to minimize the issues that homeowners face during the pandemic. These courts are presently in place at Gautam Buddha Nagar and Lucknow. Out of the 12,918 complaints that have so far been registered through these e-courts, 12,150 complaints have already been successfully resolved. With the digitization of the operation processes in real estate, all the players are likely to benefit in the coming months.
