The Uttar Pradesh real estate regulatory authority (UP-Rera) has directed developers to submit their quarterly progress report (QPR) in next 15 days or face action.
While reviewing the progress of the projects on Thursday, Sanjay Bhoosreddy, chairman, UP-Rera, observed that many promoters are not filing their projects’ QPRs in time, and some of them have filed the subsequent QPRs without filing the pending QPRs.
“This is against the requirement of UP-Rera and amounts to violation of the relevant provisions of the RERA Act and directions of UP-Rera by the promoters concerned,” he said.
The chairman, thus, directed the promoters to file the pending QPR (before October), and of October to December, 2023 by January 15, 2024 failing which penalties will be imposed against the project in question.
The RERA rules mandate that each promoter of an ongoing realty project has to file the quarterly progress report on the portal of the regulatory authority. It helps the investors or the homebuyers to get regular updates online. The rules require the report be filed within 15 days after the quarter ends.
Bhoosreddy said that henceforth the current QPRs, including the QPR for the quarter ending on December 31, 2023, can be filed only after the pending QPRs (before December or October QPR) have been filed by the promoter after depositing the late fees.
Meanwhile, the developers want the deadline be extended since it takes time much more time to arrange certificates from multiple departments and upload them.
Through a letter, the Confederation of Real Estate Developers Association of India (CREDAI) has demanded that UP-Rera allow them at least two months to file QPR on its portal about the ongoing projects.
“…it takes 20 days to get the certificate from good and service tax department and other departments involved in the process. Fifteen days is way too less because we cannot arrange many certificates in 15 days required to be uploaded along with the progress report,” it said.
It has also been requested that the UP-Rera stop imposing penalties for delays in uploading the QPRs in cases, said Dinesh Gupta, secretary, CREDAI, Western UP chapter.