Real Estate (Regulation and Development) Act, 2016 has been created with an object to establish Real Estate Regulatory Authority for regulation and promotion of the real estate sector and to ensure sale of plot, apartment or building, as the case may be, or sale of real estate project in an efficient and transparent manner and to protect the interest of consumers in the real estate sector and to establish an adjudicating mechanism for speedy dispute redressal. In furtherance of the aforesaid object, a statutory provision in the Act has been made for establishment of the Appellate Tribunal to hear appeals from the decisions, directions or orders of the Real Estate Regulatory Authority and the Adjudicating officer and for matters connected therewith or incidental thereto.
Uttar Pradesh Government has notified Uttar Pradesh Transport Appellate Tribunal to functional as Uttar Pradesh Real Estate Appellate Tribunal on 24.01.2018 vide notification no.1501/8-3-17-65 Vividh-16 T.C-1 Lucknow. On 22.09.2018 Uttar Pradesh Government has appointed Members/Chairman of Uttar Pradesh Real Estate Appellate Tribunal vide notification no. 1558/8-3-18-65 Vividh/16 T.C. Lucknow & 1559/8-3-18-65 Vividh/16 T.C. Lucknow. On 30.03.2019 Uttar Pradesh Real Estate Appellate Tribunal was notified vide notification no.365/8-3-19-65 Vividh/16 T.C.-I Lucknow.
OBJECTIVE OF REAL ESTATE (REGULATION AND DEVELOPMENT ACT) 2016
• To regulate real estate sector for its harmonious growth and development.
• To facilitate the growth and promotion of a healthy, transparent, efficient & competitive real estate sector and regulate real estate sector for its harmonious growth and development.
• To bring transparency in the dealings between the promoters, buyers, agents etc.in real estate sector.
• To ensure that the real estate projects are completed in time and agreement are entered between promoters/developers and buyers on the basis of equity.
• To resolve disputes relating to the projects expeditiously.
• To enforce the provisions of law and the orders of the authority and Appellate Tribunal.
• To Create a transparent and robust grievance redressal mechanism against acts of omission and commission of competent authorities and their officials.
• To encourage investment in the real estate sector including measures to increase financial assistance to affordable housing segment.
• To facilitate amicable conciliation of disputes between the promoters and the allottees through dispute settlement forums set up by the consumer or promoter associations.
JURISDICTION
Jurisdiction of U.P. REAL ESTATE APPELLATE TRIBUNAL, is entire state of Uttar Pradesh.