Quarterly report not updated, Rera imposes fines on builders

  • | Tuesday | 14th November, 2023

Ghaziabad: UP-Rera has slapped Rs 2 lakh each in penalties on the builders of 732 projects that have not updated construction deadlines and another Rs 1 lakh on 356 other projects that have not uploaded their quarterly progress report (QPR) on the Rerasite. In case of projects having completion certificates, the details of which have also not been uploaded, promoters will have to pay a delay charge.There are 3,515 projects registered with Rera, out of which builders have not updated the project status of 1,088, which means that the regulatory authority has no knowledge of the status of over 31% of total projects in the state. While reviewing applications for extensions of registered projects, UP Rera noticed that promoters have not uploaded the progress reports of many quarters. While builders of 732 projects have not filled their targets, those of 356 projects have not updated targets on the portal. Not setting or updating targets affects the status of QPR, which is contrary to the UP Rera Act and invites penalties, said Pramod Kumar Upadhyay, secretary, UP Rera. A cumulative fine of Rs 14.64 crore has been imposed on 732 projects, and a Rs 3.56 crore fine has been imposed on 356 projects. Builders will have to ensure that progress reports from past quarters are also uploaded. Otherwise, delay charges will be levied on them. Only after all QPRs are updated on the portal will the builders be allowed to extend project registration, added Upadhyay. Uploading QPR periodically on the portal is one of the key responsibilities of the promoter that enables the consumers of the real estate sector to access the progress of the project at regular intervals. The initiative aims to improve transparency and credibility in the real estate sector. The builders of the projects having completion certificates are required to commence the process of project closer reporting on the UP Rera portal. This would ensure that the regulatory authority remains aware of how many projects have been completed, the UP Rera secretary stated.We also published the following articles recentlyDelhi Air Pollution: Construction ban to delay infra projectsThe ban on construction activities due to air pollution in Delhi is likely to cause delays in several public infrastructure projects. Around 30 projects by the Public Works Department, including flyovers, hospitals, and underpasses, are affected. Deadlines for completion have been pushed back, causing inconvenience to motorists. Projects like the Barapullah Phase II and Pragati Maidan underpass No 5 are facing obstacles such as flooding and traffic congestion. The completion of these projects, along with others like the Punjabi Bagh flyover and hospitals, is now expected to be delayed.CM Pramod Sawant urged to withdraw nod to marina projectThe All Goa Small Scale Responsible Fisheries Union (AGSSRFU) has urged Goa Chief Minister Pramod Sawant to withdraw his support for the proposed Marina project at Nauxi. The union is concerned that the project will negatively impact marine life and the traditional fishing community in the area. AGSSRFU President Shaila DMello stated that the project will have an irreversible impact on fisheries in the Zuari.Housing projects: IBBI moots changes to rulesThe Insolvency & Bankruptcy Board of India (IBBI) has proposed several changes to improve the resolution process for homebuyers in the real estate sector. These changes include the registration of each project under RERA, separate bank accounts for each project, and the exclusion of properties where the allottee has already taken possession from the liquidation estate. The IBBI also suggests that resolution professionals invite separate resolution plans for each project to simplify the process. These changes aim to provide relief to homebuyers and avoid delays in resolving cases.

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