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UP RERA’s virtual workshop for Varanasi promoters, stakeholders

12 June 2020: In an order to create awareness, outreach and ease of doing business among promoters from Varanasi region Uttar Pradesh Real Estate Regulatory Authority (U.P. RERA) organised a virtual workshop on Friday. The workshop was chaired by UP RERA Chairman Rajive Kumar and attended by Technical Advisor VB Singh and other senior officers. The two hours long workshop’s objective was to highlight the important duties and obligations of a Promoter, the project registration aspects, project registration process flow, the benefits of project registration, about Miscellaneous QPR Documents, separate project account and many more critical parameters of U.P. RERA.

In the opening remarks, Authority Chairman Rajive Kumar said, “The virtual workshops will be an attempt to sensitize the promoters of the different region about the duties of a Promoter, the project registration checklist, the project extension process, separate project account and many more important points which every Promoter should keep in mind in respect to U.P. RERA. We will have different workshops dedicated to Promoters of a particular region of the state for their capacity building”. The Chairman informed the Promoters that the Authority has decided for all registered projects under the jurisdiction of U.P. RERA for which the completion date or revised completion date or extended completion date as per registration expires on or after 25th March, 2020, the registration and completion date or revised completion date or extended completion date is automatically extended by six months due to outbreak of COVID-19 pandemic which is a calamity caused by nature and is adversely affecting regular development of real estate projects by invoking “force majeure” clause. Hon’ble Chairman further added, “With a view to resume the hearing of the cases, the Authority also initiated the virtual hearing from 18 May onwards.

We are getting very positive response as complainants find it very convenient to participate in terms of safety and time saving from commuting. Since 8th May, UPRERA has also started RERA Samvaad to address the problems of home buyers and other stakeholders through video conference. Many promoters are also participating in the Samvaad to discuss their issues or concerns with the Authority”. UP RERA Chairman then had an interaction with the Promoters listening to their grievances and discussing their issues. A participant and promoter from Varanasi Shri Nitesh Bahal said, “The webinar was really fruitful. We would like to have the recording of it for our future reference”. The workshop was conducted in two parts. In the first part, the promoters were informed and made aware about the objectives of the RERA Act, the applicability of RERA, the important duties of promoters, briefing them about the timely project compliances, etc.

The promoters were pleased to know some of the latest initiatives of U.P.RERA such as Grading System for Project/Promoters, the Conciliation Forum and its success, the importance of Agreement for Sale and importantly the Real Estate Project (Maintenance of Separate Bank Account) Directions dated 5th June 2020 which has been uploaded on the UPRERA portal. The second part was consisting of Technical aspects such as the aspects of Project registration such as Process Flow, checklist, dimensions, etc. The Promoters were also informed about the process of re-application of rejected project applications, the Project compliance and its importance such as timely submission of Quarterly Progress Report (QPRs), provision of uploading Completion certificate, about Miscellaneous QPR documents, project extension part and how to edit for a registered project. At the end of the workshop, an Open House session was held where promoters asked queries such as if there are any format of the escrow account name, where can we apply for an extension of six months due to COVID-19, how can a Promoter update new escrow account, project extension details and many more queries.

The Technical Advisor of U.P. RERA answered the queries and clarified the doubts of the promoters. He informed that the guidelines for Real Estate Project (Maintenance of Separate Bank Account) has been uploaded on the website and can be referred for any queries. He also advised the promoters to send their queries in writing to U.P. RERA for more clarity on their issues.