The Uttar Pradesh Real Estate Regulatory Authority (UPRERA) on July 13, 2026, issued the 12th amendment to the Uttar Pradesh Real Estate Regulatory Authority (General) Regulations, 2019.
The following has been stated:
• The authority has amended Regulation 47 (Administrative Charges and Standard Fees) by inserting provisions relating to the Collection, Management, Transfer and Utilisation of Interest-Free Maintenance Security (IFMS) Deposits. Under the amendment, promoters are required to collect IFMS amounts from allottees at the time of execution of sale/lease/sub-lease deeds and maintain such deposits in a separate designated bank account with a Scheduled Bank. The collected IFMS corpus shall be invested in the highest interest-bearing fixed deposit based on quotations obtained from banks.
• The amendment prescribes IFMS rates based on the type and size of projects, including residential projects (EWS, LIG, MIG, HIG, luxury and ultra-luxury housing), plotted housing projects, commercial projects, and plotted commercial projects. The rates vary from ₹20 to ₹100 per sq. ft. depending on the category and specifications of the property.
• Further, the promoter shall transfer the entire IFMS corpus to the Residents Welfare Association (RWA)/Association of Allottees at the time of handing over common areas, along with a detailed transfer statement containing unit-wise collections, deductions, expenditure records, and an audit trail. The promoter/RWA shall utilise IFMS funds only for operation, maintenance, repair and replacement of common areas, equipment and common services. The RWA shall maintain separate accounts for IFMS funds and get the utilisation audited by a Chartered Accountant, with the audit report placed before the AGM/EGBM within three months of finalisation. The amendment shall come into force from the date of publication on the Authority’s website.
[Notification no. - 7098 /U.P. RERA/Regulation/2026-27]
