UP RERA imposes penalty on over 1,000 projects
Real Estate Regulatory Authority (UP-RERA) has imposed a fine on over 1,000 projects for not updating quarterly progress report on its website.
Uploading QPR periodically on 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.
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 has imposed penalty of Rs 2 lakh per project on 732 projects and Rs one lakh per project on 356 projects.
The authority has advised promoters to ensure that QPRs of past quarters have been filled before filling latest.
In case of due QPR of past quarters, they have to pay delay charges.
The projects having completion certificate and being uploaded on the portal, need to pay delay charges and update QPR till the time of CC is obtained.
