UP Real Estate Regulator Urges Promoters: Submit Pending Project Reports by January 15

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    The Uttar Pradesh Real Estate Regulatory Authority (UPRERA) is urging all project promoters to clear their backlog of Quarterly Progress Reports (QPRs) and submit the latest one by January 15. The move comes as UPRERA noticed delays and incomplete filings by many promoters, violating RERA requirements.

    During project progress reviews, Sanjay Bhoosreddy, UPRERA Chairman, emphasized the importance of complying with RERA obligations. Promoters are now given the opportunity to submit pending QPRs, along with the QPR for the October to December 2023 quarter, by January 15, 2024. Typically, QPRs should be filed within 15 days of the quarter’s closure.

    Bhoosreddy clarified that modifications have been made to the QPR filing process on the web portal. Promoters can now submit current QPRs, including the one for the quarter ending on December 31, 2023, only after addressing pending QPRs and settling associated late fees.

    UPRERA’s directive aims to ensure promoter compliance and enhance transparency in the real estate sector.

    (Source: Moneycontrol)

    Also read: Real Estate Highlights: Top Office and Housing Deals of 2023

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