The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has introduced a standardised model format for offer of possession letters to prevent arbitrariness by promoters and resolve potential disputes with allottees. Promoters must use this format, available on the RERA portal, without adding any binding conditions, and send the letters within two months of receiving the Occupancy or Completion Certificate. This initiative aims to ensure transparency and fairness in the possession process, protecting the rights of homebuyers.
The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has established a standardised model structure for the offer of possession letter in order to eliminate any disputes between promoters and allottees and to prevent promoters from acting arbitrarily when issuing possession letters to them. The RERA portal now provides public access to this model format.
Sanjay Bhoosreddy, chairman of UP-RERA, emphasised the importance of the offer of possession being solely for the purpose of transferring possession. He stated that the offer of possession should be meant only for the purpose of taking possession. Therefore, a model offer of possession has been made available on the portal, and any other format of the letter will not be valid. This move aims to standardise the process and ensure clarity and fairness in the communication between promoters and allottees.
It has been explicitly clarified that promoters must use the exact format of the offer of possession letter provided on the RERA portal. Promoters are prohibited from imposing any binding conditions on allottees through the offer of possession letter. This measure is intended to safeguard the rights of allottees and ensure that the terms of possession are transparent and fair.
Once the Occupancy Certificate (OC) or Completion Certificate (CC) of a project is obtained, promoters are required to send the offer of possession letters to the allottees. These letters must be sent in writing to the allottees' registered email addresses and residential addresses via post. Additionally, allottees will be notified through SMS on their registered mobile numbers and phone numbers, ensuring they are well-informed about the possession process.
The primary purpose of the offer of possession letter is to invite the allottee to take possession of their unit. If there is any unfinished construction work in the unit, the promoter is obliged to clearly specify the remaining work and the estimated time required for its completion. This transparency ensures that allottees are fully aware of the state of their units and any pending construction work.
If there are any liabilities on the part of the allottee, they must be within the scope of the sale agreement and legally justified. The use of demand notices, final demand notices, or similar language in the offer of possession letters is not permitted, as such letters will not be considered valid offers of possession.
Promoters must send the offer of possession letters within two months of receiving the OC or CC. At the time of possession, a copy of the OC or CC certificate issued by the development authority must also be provided to the allottees. This ensures that allottees have the necessary documentation to verify the completion and legality of the possession process.
By implementing this standardised model format for the offer of possession letters, UP-RERA aims to eliminate disputes and ensure a smooth and transparent possession process for all stakeholders involved. This initiative underscores UP-RERA's commitment to protecting the interests of homebuyers and promoting fair practices in the real estate sector. The authority's proactive measures are designed to create a more reliable and trustworthy environment for real estate transactions in Uttar Pradesh.
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