GREATER NOIDA: In a first in India, the Uttar Pradesh Real Estate Regulatory Authority (UP-Rera) will subsequent year introduce a star-rating machine to mark the quality of a housing project as well as the credibility of its builder. The regulatory body has additionally shortlisted 10 projects in the dual cities, which it would de-register in 2019 and interact exterior agencies for of entirety.
UP-Rera member Balwinder Kumar told TOI the projects might be divided into five-star, four-star, three-star, two-star and one-star classes, depending on what the developer guarantees to ship and its credibility in handing over the same. The star-based machine will segregate the most efficient builders and their projects from mediocre and odd ones, in keeping with him.
“The star-ranking machine will also give patrons the readability on where they can invest freely and where they should be careful. So typically, if UP-Rera provides a project a five-star mark, it's going to imply we've got checked the former projects of the builder and its track document in handing over them. We would have checked the funds the builder has to complete the present project as promised at the point of sale,” Kumar said.
UP-Rera has already drawn up an inventory of 10 projects which are actually being examined for attainable de-registration in 2019. “We have the mandate to de-register a minimum of 10 builders in 2019 so that we can take over the projects, get a 3rd birthday party on board and facilitate of entirety. The builders of those projects have failed to ship on time, and we will take this subject on priority basis,” Kumar said.
UP-Rera will also henceforth dissuade patrons from looking for refunds whilst riding the projects to of entirety. “Our two major activities to this point were to help patrons exit projects in case they wanted the same. And the second used to be to push the builder to ship. However, if increasingly patrons are given refunds, builders can’t entire their projects. So subsequent year, we will center of attention more on supply,” Kumar said.
UP-Rera member Balwinder Kumar told TOI the projects might be divided into five-star, four-star, three-star, two-star and one-star classes, depending on what the developer guarantees to ship and its credibility in handing over the same. The star-based machine will segregate the most efficient builders and their projects from mediocre and odd ones, in keeping with him.
“The star-ranking machine will also give patrons the readability on where they can invest freely and where they should be careful. So typically, if UP-Rera provides a project a five-star mark, it's going to imply we've got checked the former projects of the builder and its track document in handing over them. We would have checked the funds the builder has to complete the present project as promised at the point of sale,” Kumar said.
UP-Rera has already drawn up an inventory of 10 projects which are actually being examined for attainable de-registration in 2019. “We have the mandate to de-register a minimum of 10 builders in 2019 so that we can take over the projects, get a 3rd birthday party on board and facilitate of entirety. The builders of those projects have failed to ship on time, and we will take this subject on priority basis,” Kumar said.
UP-Rera will also henceforth dissuade patrons from looking for refunds whilst riding the projects to of entirety. “Our two major activities to this point were to help patrons exit projects in case they wanted the same. And the second used to be to push the builder to ship. However, if increasingly patrons are given refunds, builders can’t entire their projects. So subsequent year, we will center of attention more on supply,” Kumar said.
UP-Rera to star-rate projects for quality
![UP-Rera to star-rate projects for quality]()
Reviewed by Kailash
on
December 29, 2018
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