Since its establishment in 2017, the Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has issued recovery certificates (RCs) worth Rs 3,105 crore to benefit 8,575 home buyers. This follows the failure of real estate developers to deliver homes, as stated in an official press release by Pramod Kumar Upadhyay, the secretary of UP-RERA, on Wednesday.

Unfortunately, only a quarter of this amount has been collected by the state’s revenue department. UP-RERA reported that Rs 630.70 crore has been received by 3,421 complainants, while recovery certificates worth Rs 338.17 crore have been resolved in 1,185 cases involving promoters/developers and home buyers.

The regulatory authority has received approximately 50,900 complaints so far, with around 43,930 complaints filed by distressed allottees resolved. This means that the number of complaints filed accounts for about 39% of the total complaints in the country, while the resolution rate stands at about 40%.

To handle this flood of homebuyer complaints, UP-RERA introduced e-courts in February 2020. Since its launch, over 27,100 victims have utilized the e-Court module to file complaints, and the authority has resolved over 20,700 cases.

Currently, UP-RERA is integrating Artificial Intelligence and Machine Learning technologies into their official website. This integration aims to streamline the complaint filing and resolution process, ultimately reducing the time it takes to issue judgments or orders. The enhanced website version is expected to be completed by the end of this year.

Additionally, UP-RERA has registered more than 3,470 real estate projects, including 125 new projects in the current financial year until August 2023.

Breaking down the numbers, out of the total registered projects, 2,056 fall under the ongoing category and were registered before May 1, 2017. The remaining 1,414 projects are classified as new projects. Notably, 52% of these projects (1,069) are located in the National Capital Region (NCR) districts, such as Gautam Budh Nagar, Ghaziabad, Meerut, and Hapur. The remaining 48% (987) of ongoing projects are in 67 non-NCR districts, with Lucknow housing 399 of them. Projects registered before May 1, 2017, are considered ongoing projects.

Among the 1,414 new projects, 37% (530) are situated in NCR areas, while the remaining 63% (884) are in non-NCR regions. Many of these new projects are emerging in cities like Jhansi, Bareilly, Moradabad, Agra, Mathura, and Vrindavan.