UP-RERA Introduces Standardized Offer of Possession Letter Format for Fairness
The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has taken a significant step towards ensuring transparency and fairness in real estate transactions. To curb arbitrary practices by promoters in issuing possession letters to allottees, UP-RERA has introduced a standardized format for the letter of offer of possession. This model format is now publicly available on the RERA portal.
Sanjay Bhoosreddy, chairman of UP-RERA, emphasized that the offer of possession should only serve the purpose of handing over possession and should not include any binding conditions for the allottees. He stated, “We have made available a model offer of possession on the portal, and any other format of letter will not be considered valid.”
Promoters are now required to issue offer of possession letters to allottees using the standardized format available on the portal. These letters must be sent to the allottees’ registered email and residential addresses by post, and they will also receive an SMS notification on their respective mobile numbers.
The core intention of the offer of possession letter should be to invite the allottee to take possession of their unit. If any construction work is pending in the unit, the promoter must clearly mention the remaining finishing work and the expected duration for completion.
It has been specified that any liability mentioned in the offer of possession letter should be within the scope of the agreement for sale and must be legally justified. Additionally, letters using terms like demand notice, final demand notice, or similar language will not be considered as valid offer of possession letters.
Promoters are required to send offer of possession letters within two months of receiving the OC/CC for the project. At the time of possession, allottees must also be provided with a copy of the OC/CC certificate issued by the development authority.
This move by UP-RERA aims to streamline the possession process, reduce disputes between promoters and allottees, and ensure a fair and transparent real estate market in Uttar Pradesh.
Read more: Stilt-Plus-Four Buildings: Haryana’s Ban on Fourth Floors
for more updates follow us on instagram
