The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has recently assigned unique QR codes to approximately 1 lakh registered real estate projects in the state. These QR codes link directly to detailed project information on the UP-RERA portal, allowing homebuyers to access essential details including land documents, project layouts, timelines, and amenities by scanning with a smartphone. This move enhances transparency and empowers buyers to independently verify project details, avoiding reliance on potentially misleading developer information. Developers must now include these QR codes in all documents and promotional materials, ensuring a more informed and secure property investment process.
The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has taken a major step towards empowering homebuyers and increasing transparency in the real estate sector. This innovative initiative involves assigning a unique QR code to every one of the estimated 1 lakh registered projects in the state.
These QR codes act as a direct link to the project's details on the UP-RERA portal. Homebuyers can access essential details about a project with ease by scanning a code with their smartphones. This digital tool provides immediate access to a comprehensive range of information, including land documents, approved layouts and maps, and project specifications such as the number of floors, unit sizes, and available amenities like a swimming pool and gym. It also includes crucial timelines such as start and completion dates, and bank account details to ensure the proper management of project funds. Additionally, buyers can review details about promoters, co-promoters, and registered agents for transparency. The code offers access to quarterly progress reports (QPRs), allowing buyers to monitor construction progress, as well as Occupancy Certificates (OCs) or Completion Certificates (CCs) to confirm the project's legal authorisation for habitation. Other necessary No Objection Certificates (NOCs) are also included to demonstrate compliance with environmental and safety regulations.
Prior to this initiative, homebuyers often relied solely on information provided by developers or real estate agents. This could lead to situations where crucial details were omitted or misrepresented.
The new system from UP-RERA empowers homebuyers with the ability to independently verify all project details. This newfound information empowers them to make informed decisions before investing in a property, potentially saving them from financial risks or unexpected delays.
UP-RERA has made it mandatory for developers to include the project QR code in all documents shared with buyers. This includes essential documents like booking forms (typically costing around ?50,000), allotment letters, and Builder Buyer Agreements (BBAs), which can involve significant financial commitments. Additionally, the QR code must be prominently displayed in all promotional and marketing materials, such as advertisements, brochures, and online listings. This ensures that the same advertisement promoting a project also becomes a source of verification for the information presented.
The introduction of project QR codes by UP-RERA is a significant step towards a more transparent and informed real estate market in Uttar Pradesh. By empowering homebuyers with the ability to independently verify project details, UP-RERA aims to create a more trustworthy and secure environment for property investment. This initiative is expected to benefit not only homebuyers but also responsible developers who can showcase their commitment to transparency and attract buyers with greater confidence.
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