CREDAI and Naredco have been demanding one time restructuring of developers outstanding loans with financial institutions to prevent bad loans and making them eligible for fresh borrowings
Projects in the state have a combined inventory of 100,000 units valued at Rs 1.50 trn, mostly in Noida and Greater Noida
Under Section 63 of the RERA Act, if the replies are deemed to be inappropriate then penalty of 5 per cent of the total project cost will be levied on them
Rules state that if RERA does not issue possession certificate or raises concerns, the builders can start giving possession to buyers
UP Real Estate Regulatory Authority (RERA) has engaged Remote Sensing Application Centre (RSAC) for inspection of construction sites within 10 km of the Lucknow Development Authority (LDA) limits