Rajasthan RERA extends deadline for realtors to submit progress reports
Real Estate

Rajasthan RERA extends deadline for realtors to submit progress reports

The Rajasthan Real Estate Regulatory Authority (RERA) has extended the timeline for developers for the online submission of quarterly progress reports (QRPS) of their listed projects.

In an order announced on Monday, RERA mentioned that without any delay in penalty or processing charges, the last date for submission of QRPs for all the previous quarter and for the quarter ending on March 31, has been stretched to 30 June 2021.

Last year, the authority had exempted real estate developers from submitting a quarterly report of projects on the regulator’s website till March 2021, granting relief to the developers amidst Covid.

The order additionally declares that if QRP for any quarter, including January- March 2021, is not presented by June 30, it will draw a penalty under section 61 of the Real Estate (Regulation and Development) Act 2016 for infringement of relevant provisions. Delay processing costs will lead to delay in the submission of QRPs.

As per the obligatory provision, the developer must upload updates on the RERA website for the project at the end of each quarter on status update of every building, flats/apartments, internal infrastructure, floor and common areas development. Other details that include data on approvals, bank account details, revision in plans, licence issues, permissions for the projects also must be presented in the public forum.

Since January 1, Rajasthan RERA has started an online facility for submission of QPR of registered projects. Following that, no offline records were to be accepted.

According to the rule, the quarterly report has to be presented within 15 days at the end of the quarter. All those developers who had submitted offline QPR for previous quarters had to submit it online for the earlier quarters as well, stated an official.

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Also read: Maharashtra to extend deadline for property registrations soon

Also read: SC strikes down WB’s HIRA law on real estate regulations

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