News
UP RERA Makes Mandatory For Promoters To Prove Their Title On The Project Land
Lucknow/Gautambudh Nagar, March 22, 2024: UP RERA, on March 16, 2024 has directed the promoters to ensure that they have legal title over the land on which they are applying for registration of the project. In case, the project land is not in the ownership of the promoter but in the ownership of some other person or persons, the promoter must have the consent of such land owner for the development of the proposed project and must have a registered joint development agreement to this effect with the land owner, says the Authority order. RERA has also directed the promoters to file an affidavit to the effect that the project land is free from encumbrances and to disclose the same if there is any encumbrance on the land of the project.
This was stated by Sanjay Bhoosreddy Chairman U.P. RERA that the provisions of RERA are very clear that the promoter shall obtain the C.C./O.C. of the project and transfer the title of the unit to the allottee by way of a registered sale deed or sub-lease deed, as the case may be. It was further clarified by him that it is established law that only a person having title over the land or property has right to legally transfer such land or property to a buyer. So, RERA had to issue these directions in order to ensure the protection of the rights of the consumers and to facilitate the conveyance deed in their favour without any legal impediments.
It also poses problems before U.P. RERA in deciding the application for registration of the project if the promoter does not have the legal title over the land or alternatively he does not have the written consent of the land owner and a registered joint development agreement with such land owner.
-
News3 weeks ago
GRAP 4 curbs in Delhi-NCR: Real Estate Sector Reacts to Construction Ban
-
News3 weeks ago
Mahindra Lifespaces announces continuing partnership with Sumitomo Corporation for its Industrial Clusters business
-
News4 weeks ago
Supreme Court Intervenes in NCR Housing Project Delays, Seeks Details
-
News4 weeks ago
Noida, Greater Noida Residential Market Soars; Sales Up 34%, Transaction Volume Up 6% in July-September 2024: Square Yards Report
-
News4 weeks ago
Suraj Estate Developers’ PAT Surges by 88% in Q2 FY25 & 97% in H1FY25
-
News2 weeks ago
Faridabad Real Estate Market On the Upswing
-
News4 weeks ago
Sushma Group Partners with Bayside Corporations (BCS) to Boost Sales of Premium Kasauli Projects
-
News6 days ago
No rate cut from RBI, but industry leaders stay positive