January 15, 2024: The Uttar Pradesh Real Estate Regulatory Authority (UPRERA) has directed the promoters of all registered projects to file upto date quarterly progress reports (QPR) of their projects, including the backlogs on the authority’s website within 15 days, according to media reports.
As cited in the report, Sanjay Bhoosreddy, chairman, UPRERA said that while reviewing the progress of the projects, it was seen that several promoters were not filing the QPRs of their projects in time and some of them have filed the subsequent QPRs without filing the pending QPRs. He said that was against the requirements of RERA and amounted to a violation of the relevant provisions of the RERA Act. Thus, the authority decided to allow the promoters to file the pending QPRs of their projects as well as the QPR of the October to December 2023 quarter by January 15, 2024.
According to the RERA rules, each promoter of an ongoing realty project must file the QPR on the regulatory authority’s official website. This enables investors and homebuyers to get regular updates online. The QPRs must be filed within 15 days of the closure of the given quarter.
Accordingly, UPRERA has modified the facility for filing of QPRs on the web portal and hence forward the current QPRs, including the QPR for the quarter ending on December 31, 2023, can be filed only after the pending QPRs have been filed by the promoter after depositing the late fee.
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Harini is a content management professional with over 12 years of experience. She has contributed articles for various domains, including real estate, finance, health and travel insurance and e-governance. She has in-depth experience in writing well-researched articles on property trends, infrastructure, taxation, real estate projects and related topics. A Bachelor of Science with Honours in Physics, Harini prefers reading motivational books and keeping abreast of the latest developments in the real estate sector.
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