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U.P. RERA orders refunds with interest for allottees u/s 31; ongoing projects must register u/s 3.

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Full Text of the Document

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....U.P. RERA - Refund of the investment made along with interest to allottees under Section 31 of of The Real Estate(Regulation and Development) Act, 2016 and The Uttar Pradesh Real Estate(Regulation and Development) Rules, 2016 - From the scheme of the Act 2016, its application is retroactive in character and it can safely be observed that the projects already completed or to which the completion certificate has been granted are not under its fold and therefore, vested or accrued rights, if any, in no manner are affected. At the same time, it will apply after getting the on­going projects and future projects registered under Section 3 to prospectively follow the mandate of the Act 2016 - SC....

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