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UP RERA Not to Accept Mutual Settlement Agreements Without Notarized Affidavits

1335346 up rera 1

Lucknow/Gautambudh Nagar: U.P. RERA has decided to lay down the manner of execution of mutual settlements to make it more effective and credible instrument of settlement of disputes. It has issued detailed directions on February 2, 2024 in this regard. 

During the proceedings of adjudication of complaints or execution of orders, the promoters and the allottees quite often file mutual settlements and request disposal of the matter on the basis of such settlements. U.P. RERA has noticed that the parties do not adhere to the established norms for execution of settlements and in some cases parties have also denied such settlements at later stage. Thus the need arose for such guideline.

It has now been made mandatory that the mutual settlements between the promoter and the allottees shall be executed on non-judicial stamp paper of Rs. 100 and shall be notarized, it shall be duly signed by the promoter through his authorized Director or the MD or the CEO and the allottee, it shall bear the signatures of one witness each of the parties. The terms and conditions of the settlement must be unambiguously laid down and must not be contrary to the provisions of applicable laws or existing the public policies. 

U.P. RERA will ensure the verification of the settlements in its Benches or the office, as the case may be. If any of the parties does not appear for physical verification of the settlement, it will be required for such verification through e-mail and further proceedings will be conducted on the basis of such verification. If a party does not submit its reply to the e-mail within the stipulated time, it will be deemed that the party has consented to the settlement on its free will.

The settlements submitted by the promoters during the execution proceedings of the orders will be uploaded on the web portal of UP RERA and the other parties will be required to verify the settlement on e-mail. Further proceedings will be conducted based on such verification only.

Sanjay R BhoosreadyChairman e1694859207465 1 edited

Sanjay R. Bhoosreddy, Chairman, U.P. RERA said that the execution of settlements on the basis of the established procedure is in the interest of both the allottees and the promoters and these directions had become necessary because of filing of defective settlement deeds in so many instances. Once the parties have executed the settlements as per the directions of RERA, they will not have liberty to deny the same at a later stage in U.P. RERA or in some other forum. In fact, the settlements will be largely conducive to the successful conclusion of proceedings. It was further state by Bhoosreddy that U.P. RERA is committed to continuous policy and procedural improvements in the conduct of its affairs in the interest of the stake holders.

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