Latest news with #SanjayBhoosreddy
Time of India
31-05-2025
- Business
- Time of India
UP-RERA streamlining process of projects registration, dispute resolutions of homebuyers
NEW DELHI: Uttar Pradesh's Real Estate Authority Chairman Sanjay Bhoosreddy on Friday said it is making efforts to streamline the process of registration of projects as well as dispute resolutions between builders and buyers. Addressing a real estate conference at Noida , Bhoosreddy said the property market in the state has been growing with the application of registration of projects coming from many districts in the states. Real estate developers need to register projects to start marketing activities and sell their inventories. "We are trying to make the system transparent as much as possible. We are trying to streamline within our available resources," the Chairman said. The conference was organised by property news portal Realty & More. Bhoosreddy said the UP-RERA is the smallest RERA in the country, with the largest area and the highest population in the country. "We have 75 cities to handle. Earlier, there were only a few districts, which were Gautam Buddha Nagar, Ghaziabad, Meerut, Lucknow , Agra and Kanpur. "Last year, 2024 when we had sanctioned the highest number of projects which is 261, around 62 projects were in the Delhi-NCR, and around 199 projects were outside NCR," Bhoosreddy said. Now, he said the applications are coming from across the state. Bhoosreddy said the UP-RERA will hopefully register more projects this year. The Chairman noted that there are more than 4000 real estate projects registered under UP-RERA, but the projects are larger with a significant number of units. Bhoosreddy said the UP-RERA is compiling the data of number of units and proposed investments in these 4000 projects. He said the authority is trying best to give RERA Registration number in 30 days from filing of applications by developers. He asked the builders to upload the documents in proper format to ensure that their applications do not get rejected. "We are trying to make it transparent user friendly, both in terms of the complaint disposal and registrations/extension (of projects," Bhoosreddy said. Time is the essence of a real estate project, he said. "Completion is an essence in a real estate project, and timely delivery is the biggest factor, the best essence in a real estate project, because that builds your goodwill, and that build the general reputation of the developers as a whole and the real estate sector as a whole," he said. Bhoosreddy noted that the real estate sector has an important role to play in the growth of the Indian economy.
Hindustan Times
30-05-2025
- Business
- Hindustan Times
Verify from our website before buying property: UP RERA to homebuyers
The UP Real Estate Regulatory Authority (RERA) has cautioned homebuyers to verify from the UP RERA before investing in a real estate project. Issuing an advisory on Thursday, the UP RERA urged homebuyers that they should collect all the information related to the promoter and the project in question. All relevant information related to a project approved by the UP RERA is available on its portal, said RERA. The homebuyer should be aware of the land of the project, the map of the project, other clearances or approvals of the project and specifications of the project, added RERA. 'It is also important for them to know about the credibility of the promoter, his reliability and his financial status. The UP RERA has provided all information about promoters on its portal,' said Sanjay Bhoosreddy, chairman, UP RERA. 'The homebuyer should go to the homepage of the RERA portal, click on 'Registered Projects' in the search link on the home page. A list of promoters and projects will open in front of him. On this page, he should search by giving the name of the promoter or the project or the registration number of the project,' Bhoosreddy added. He asserted that consumers could benefit from the RERA's regulatory work only when they themselves remain vigilant and do not invest in haste or on the basis of incomplete information. It may be pointed out that in a bid to strengthen transparency in execution of project and check misappropriation of funds, the UP RERA has made disclosure of funds collected from homebuyers mandatory for promoters to ensure transparency. The regulatory authority took the decision after getting complaints that promoters were not depositing funds received from allottees into designated 'Collection' account. After coming across several complaints related to misappropriation of funds by promoters, the UP RERA has warned stern action and legal consequences for violators. According to the Real Estate (Regulation and Development) Act, 2016, promoters are mandated to keep 70 percent of the funds received for project development in the projects' 'Separate Account' and use them exclusively for construction work. As per guidelines issued by UP RERA, every promoter must provide details of three project accounts, Collection, Separate and the Transaction accounts, on the UP RERA portal.
Time of India
30-04-2025
- Business
- Time of India
Uttar Pradesh RERA removes 12 employees over integrity issues
NEW DELHI: Uttar Pradesh Real Estate Regulatory Authority ( UP-RERA ) has dismissed a total of 12 employees of different categories in the past years on the basis of doubtful integrity and conduct. These include three junior engineers, two LCRA, one assistant accountant, four computer operators, one help desk employee and one peon. Recently, the anti-corruption team arrested an UP-RERA accountant while accepting a bribe from a homebuyer. Sanjay Bhoosreddy , chairman, UP-RERA said, "An affidavit of integrity is also taken from every officer and employee in RERA. CCTV cameras have been installed in all the rooms in RERA office and the movement of employees and visitors is also monitored by senior officers." The authority also provides continuous training to all employees to improve their skills and discipline and monitors their work. Following the policy of zero tolerance towards indiscipline and misconduct, the authority has also sent a reference to the bar council of Uttar Pradesh in one case for action as per the Advocates Act, 1961.
Time of India
30-04-2025
- Business
- Time of India
Bribery allegations: UPRERA sacks 12 employees
Lucknow: The Uttar Pradesh Real Estate Regulatory Authority announced on Tuesday dismissal of 12 members of staff on various positions, citing integrity concerns, whilst implementing enhanced internal monitoring measures. The announcement follows recent arrest of a UPRERA accountant by an anti-corruption bureau team, following a homebuyer's complaint in Greater Noida regarding bribery allegations . UPRERA chairman Sanjay Bhoosreddy confirmed the implementation of rigorous internal surveillance systems to ensure staff accountability and transparency. The authority now requires "an affidavit of integrity" from all personnel. The dismissed staff included three junior engineers, one assistant accountant, four computer operators, one help desk employee and one peon and action was taken at both, Lucknow headquarters and Greater Noida's NCR regional office. To enhance security measures, the authority installed CCTV cameras across RERA offices, with senior officers monitoring staff and visitor movements. Additionally, one case has been forwarded to the Uttar Pradesh Bar Council under the Advocates Act, 1961, demonstrating their strict stance against misconduct. Established in 2017 for homebuyer protection, UP RERA operates with a minimal workforce, maintaining effectiveness through regular training and performance assessment protocols.
Hindustan Times
29-04-2025
- Business
- Hindustan Times
12 UP RERA employees sacked over doubtful conduct in a year
In order to maintain integrity and transparency in its work, the Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has sacked 12 employees over the past one year due to their doubtful conduct, officials said. There are three junior engineers, two law clerks-cum-research assistants (LCRAs), one assistant accountant, four computer operators, a help desk employee and one peon among those sacked, officials said. According to UP RERA chairman Sanjay Bhoosreddy, an affidavit of integrity is also taken from every officer and employee in RERA. The number of officers and other staff in UP RERA is very less, although the nature of work is sensitive. The regulatory authority also provides training to all employees to improve their skills. According to the officials, CCTV cameras have been installed at all rooms in the RERA office and the movement of employees and visitors is also monitored by senior officers. Following the policy of zero tolerance towards indiscipline and misconduct, RERA has also sent a reference to the Bar Council of Uttar Pradesh in one case for action under the Advocates Act, 1961 The RERA headquarters is in Lucknow since 2017 and the NCR regional office in Greater Noida since 2018. RERA was established to fix the accountability of developers of real estate projects and to protect the interests of consumers.
