The Allahabad High Court has ruled that applications for real estate project registration with the Uttar Pradesh Real Estate Regulatory Authority (UP RERA) must be processed within the mandatory 30-day period. If no decision is taken within this timeframe, the registration is deemed approved. This decision came while granting relief to Larsen & Toubro (L&T), whose project registration application was delayed beyond the statutory deadline.
Importance of the Ruling
The Court emphasized that the 30-day deadline is crucial for ensuring transparency and timely approvals in real estate projects. It highlighted that any delay could hinder the developer's progress, leading to unnecessary project holdups. By deeming the registration approved after 30 days without a formal decision, the Court reinforced the legislative intent behind setting strict deadlines in the Real Estate (Regulation and Development) Act, 2016 (RERA).
Impact on Real Estate Developers
This ruling is a significant relief for developers, as it prevents bureaucratic delays from obstructing project timelines. The decision ensures that real estate developers can move forward with their projects if RERA fails to act within the mandated period. This decision upholds the legislative intent of speeding up the regulatory process and preventing unnecessary delays in the real estate sector.
Conclusion
The Allahabad High Court’s decision underscores the mandatory nature of the 30-day deadline under the RERA Act, which is vital for maintaining efficiency in the real estate sector. By reinforcing developers’ rights to timely registration, the Court has sent a strong message about the need for regulatory bodies to adhere to legal deadlines, thus fostering a more transparent and accountable real estate approval process.
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