UP RERA slashes builder fees to ease flat transfers for homeowners
The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has introduced new rules to cap builder charges on flat transfers across the state. These changes aim to prevent excessive fees and bring more transparency to property transactions for thousands of homeowners and their families. Previously, builders in Uttar Pradesh often demanded high fees for flat transfers, sometimes charging between Rs 200 and Rs 1,000 per square foot. The new regulations now set a strict limit on these costs.
For transfers to legal heirs or family members after the death of an allottee, builders can charge no more than Rs 1,000 as a processing fee. Legal heirs must provide documents such as a death certificate, succession certificate, and no-objection certificates from other heirs to complete the transfer. When transferring property to a non-family member, the maximum fee allowed is Rs 25,000. Additionally, builders are prohibited from creating fresh sale or lease agreements in such cases. These measures are designed to stop arbitrary charges and simplify the transfer process.
The updated rules are set to provide major financial relief to flat owners and their families. By capping fees and requiring clear documentation, UP RERA expects to reduce disputes and improve fairness in the state’s real estate transactions.
