The Uttar Pradesh Real Estate Regulatory Authority (RERA) on February 02, 2024, issued the Standard Operating Procedure (SOP) for Settlement
At the time of implementation of the orders passed by the benches, a compromise agreement is submitted by the complainant and the promoter and a proposal is submitted for disposal of the complaint or cancellation of the execution proceedings.
The following standard procedure is prescribed: -
• Regarding the agreement presented before the benches: -
o A settlement agreement will be prepared and submitted by the promoter, complainant or other interested parties on non-judicial stamp paper of Rs.100/-.
o The agreement will be notarized.
o The settlement agreement will be signed by both the promoter and the complainant.
o Agreement signed by the promoter himself or his authorized signatory Will be done. The authorized signatory nominated by the promoter is the promoter, director or MD. The agreement will be signed by one witness each from both parties.
For more details, please refer to the document below.
[Notification No. 1755 /U.P.-RERA/Admin/2023-24]
