Promoters are advised by the UP Real Estate Authority to provide current status reports within 15 days.
By Bricksnwall | 2024-01-13
the normal course, QPRs must be submitted no later than 15 days following the
end of the relevant quarter.
Pradesh Real Estate Regulatory Authority (RERA) has issued
directives to the promoters of all registered projects to post up-to-date
quarterly progress reports (QPRs) of their projects, including the backlogs, on
its website within 15 days.
of UP Rera, Sanjay Bhoosreddy, stated that many promoters are not submitting
their QPRs on time, and some have submitted their subsequent QPRs without
submitting their outstanding QPRs.
contravenes the Rera regulations and amounts to a transgression of the
pertinent Rera Act provisions and UP Rera's directives to the relevant
promoters," stated Bhoosreddy.
He went on
to say that it has been decided to let the promoters submit their projects'
outstanding QPRs by January 15, 2024, along with the QPR for the
October?December 2023 quarter.
normal course, QPRs must be submitted no later than 15 days following the end
of the relevant quarter. As a result, UP Rera changed the way that QPRs can now
be filed on the website. Going forward, promoters will only be able to file current
QPRs?including the one for the quarter ending December 31, 2023?after filing
any outstanding QPRs and paying the associated late fees.
According to officials, the goal of these guidelines is to guarantee that promoters fulfill their responsibilities and to increase industry openness, which will strengthen the relationship of trust between promoters and home purchasers.