The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has redesigned project registration certificates to now include digital signatures and QR codes. This provides easy access to key details like project name, promoter, and timelines via scanning the QR code on certificates prominently displayed at project sites and offices. The certificates also highlight conditions like escrow account usage. UP-RERA aims to increase transparency and empower home buyers by making all registration information readily available through the accessible QR scanning technology on certificates and promoter platforms.
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The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has redesigned project registration certificates to now include a digitally signed format and QR code. This updated certificate contains key project details such as the name, promoter information, registration number and date, anticipated start and completion timelines, and addresses for both the project and promoter.
Importantly, the certificate also highlights the mandatory conditions for registration. This includes the obligation for promoters to deposit 70% of funds collected from home buyers as well as project financing into a separate escrow account. This money can only be utilized for construction costs and acquiring the project land.
UP-RERA has directed promoters to prominently display the printed certificates featuring QR codes in their office and project site marketing office. This ensures that prospective and current homeowners can easily view details from a distance by scanning the QR code on their phone. All certificate information such as land and approval documentation as well as quarterly progress reports can then be accessed directly from the authority's website.
The chairman of UP-RERA, Sanjay R. Bhoosreddy, states this new digital certificate feature is aimed at increasing transparency and empowering home buyers. Promoters have been advised to also include the QR codes on their websites, advertisements, brochures, displays, signage and social media pages. The goal is to make key project details readily available through this accessible scanning technology.
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