UP RERA has approved 10 new real estate projects across Lucknow, Noida, Agra, and Ghaziabad, totaling an investment of Rs 1,278 crore. The projects will add 4,498 residential and commercial units, aiming to meet growing demand and support urban expansion.
UP RERA has capped the flat transfer fee for legal heirs of unregistered properties at Rs. 1,000. For non-family members, the fee is capped at Rs. 25,000. This aims to curb exorbitant charges by developers and simplify the inheritance transfer process.
UP RERA urges homebuyers to purchase properties based on carpet area, not super built-up area, to ensure they pay only for usable living space. The authority emphasizes that legal provisions mandate disclosures and sales based on carpet area, which can be verified on the UPRERA portal.
Uttar Pradesh's real estate regulator (UP RERA) stated that over 1.15 lakh residential and commercial units are available for sale, countering claims of a supply shortage and advising buyers against hasty investment decisions.
UP RERA has introduced Regulation 47(c) to cap processing fees for flat transfers, setting maximum charges at Rs 1,000 for family member transfers (including inheritance) and Rs 25,000 for third-party transfers. The regulation aims to prevent builders from levying arbitrary or excessive fees during property transfer processes, providing significant relief to homeowners in Uttar Pradesh.
