UP RERA imposes over Rs 2.43 cr penalty on two promoters for failing to upload progress reports

Lucknow, Mar 9 (PTI) The Uttar Pradesh Real Estate Regulatory Authority has imposed over Rs 2.43 crore penalties on two promoters for failing to upload mandatory quarterly progress reports of their registered projects on the authority's web portal, according to an official statement issued on Monday.

The action was taken after the promoters failed to update the required reports despite several reminders and notices issued by the authority.

In the first case, a penalty of Rs 16.25 lakh has been imposed on the promoter of the Arpita Infinity project in Lucknow for not updating the project's progress report on the portal.

According to the statement, the project began on July 10, 2024, and is scheduled for completion by January 31, 2027. However, the promoter failed to upload quarterly progress reports (QPRs) for four consecutive quarters despite repeated notices from the authority.

After examining the matter, Uttar Pradesh Real Estate Regulatory Authority (UP RERA) imposed a penalty equivalent to five per cent of the project cost of Rs 3.25 crore.

In the second case, the authority imposed a penalty of Rs 2.27 crore on the promoter of the Ganpati Smart City project in Lucknow for similar violations.

The project, which started on September 30, 2024, is scheduled for completion by October 24, 2026. The promoter failed to upload QPRs for three consecutive quarters even after receiving several notices from the authority.

Following an inquiry, UP RERA imposed a penalty amounting to five per cent of the project cost of over Rs 45 crore.

The authority said the quarterly progress report is a key requirement under the Real Estate (Regulation and Development) Act, 2016, to ensure transparency in real estate projects.

Under the provisions of the Act and the Uttar Pradesh RERA Rules, promoters must upload details related to project progress, number and type of units booked, status of approvals and overall construction updates on the authority's portal within seven days of the end of each quarter.

UP RERA also advised homebuyers and prospective buyers to check the QPR status of projects before investing or paying further instalments.

Commenting on the action, UP RERA Chairman Sanjay Bhoosreddy said the authority is committed to ensuring transparency, accountability and the protection of homebuyers' interests in the real estate sector.

"Updating the QPR on time is a statutory responsibility of every promoter and an important tool for maintaining transparency in project progress. Promoters who fail to comply with the provisions of the RERA Act and the authority's directions will face strict regulatory action," he said.

The authority has directed both promoters to deposit the penalty within 15 days through a bank draft in favour of UP RERA, Lucknow, and to upload all pending QPRs on the portal within the same period, the statement said. PTI KIS BAL BAL