The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) on Wednesday directed promoters in the state to provide project registration certificates embedded with QR code to existing and prospective homebuyers.
UP RERA said it has recently redesigned the certificate for registration of projects. The certificate is now digitally signed by the secretary and has also been assigned a QR Code, as per a statement.
'Promoter to deposit 70 per cent of the amount realised'
"The registration certificate includes relevant details of the project, including its name, name of the promoter, registration number with details of month and year, its duration, including the start and completion date, the project and the promoter addresses," it said in a statement.
"The QR code is also loaded with the important conditions of registration like the obligation of the promoter to deposit 70 per cent of the amount realised from the allottees and all the moneys raised through project finance, in a separate bank account for being utilised only to cover the cost of construction and that of the project land," the RERA said.
UP RERA has directed the promoters to print the QR code loaded project registration certificate and display it at a prominent place in its office and the project site marketing office so that it is visible to prospective and existing homebuyers of the project from a distance, it said.
Transparency and Standardization
"The homebuyers can scan the QR code of the certificate using their mobile phones and see the details of the project, including details relating to the land, approvals, quarterly progress report, etc, on the web portal of the authority. The project registration certificate is being issued in Form-C," it added.
UP RERA Chairman Sanjay R Bhoosreddy said the objective of the authority is to usher an era of accountability, transparency and standardisation in the real estate sector and to ensure the protection of the consumer rights by keeping the allottees informed on all the aspects which are important to them as homebuyers.
"We intend to make the new feature on the registration certificate an instrument for the transparency and for empowerment of homebuyers. We have advised the promoters to imbibe the QR code on their websites, promotional advertisements, brochures, standees, hoardings, and social media pages," he said.
