Noida, Nov 9 (PTI) The Uttar Pradesh Real Estate Regulatory Authority (RERA) has slapped penalties on over 1,000 promoters for not updating the achieved targets on their projects.
Uploading quarterly progress report (QPR) periodically on the UP RERA portal is one of the key responsibilities of the promoter that enables the consumers of real estate sector to access progress of the project on regular intervals.
The initiative is need of the hour to improve transparency and credibility of the real estate sector, the official statement said.
"While reviewing applications of extension of registered projects, the Regulatory Authority noticed that promoters have not uploaded QPR of many quarters.
"Apart from this, promoters of 732 projects have not filled targets and promoters of 356 projects have not updated targets on the portal," UP RERA Secretary Pramod Kumar Upadhyay said.
"Neither setting nor updating targets affect status of QPR which is contrary to the RERA Act. Hence, UP RERA has imposed penalty of Rs 2 lakh per project on 732 projects and Rs 1 lakh per project on 356 projects," Upadhyay said.
The UP RERA has advised promoters to fill details of QPR cautiously and ensure that details of past quarters have been filled before filling latest.
In case of due QPR of past quarters, they have to pay delay charges. Then only they will be allowed to fill QPR of current quarter.
Further, only after updating all QPRs on the portal, the promoters will be allowed for extension of project registration, it advised.
The projects having C.C (completion certificate) and being uploaded on the portal, need to pay delay charges and update QPR till the time of CC obtained.
Also, they have to be careful while uploading CC and avoid uploading unnecessary document on the portal, the UP RERA said.
In case of CC obtained, promoters must commence the process of project closure, it added.
Upadhyay said promoters must ensure their responsibility as per the RERA Act, which is important for consumers.
"Updating QPR on portal is one of them which are completely connected with project completion. All promoters must focus on this part and assign knowledgeable person for this to ensure its implementation and avoid penalty," the Secretary added. PTI KIS DRR