Uttar Pradesh Real Estate Regulatory Authority (UPRERA) has taken strict action against promoters of real estate projects, penalizing over a thousand projects for failing to submit Quarterly Progress Reports (QPR) as required. Among these projects, promoters of 732 have neglected to provide any target and completion date details, while 356 projects have not updated their progress targets on the UPRERA portal. The penalties imposed by UPRERA amount to Rs 2 lakh per project for the former and Rs 1 lakh per project for the latter. These penalized projects encompass various categories, including residential, commercial, and plotted developments, and are predominantly situated in regions like Gautam Budh Nagar, Ghaziabad, Lucknow, Meerut, Varanasi, and Agra.
The Uttar Pradesh Real Estate Regulatory Authority (UPRERA) has recently taken strict measures against more than a thousand real estate projects that have failed to comply with the submission of Quarterly Progress Reports (QPRs). UPRERA has also issued directives to project promoters, urging them to upload the most up-to-date QPRs on the authority's portal, in order to avail the benefits of an extension for their project registrations.
Within the scope of these actions, UPRERA has levied penalties on a total of 1,088 projects, all of which have been penalized due to violations related to the QPR submissions. Among these projects, 732 were found to have omitted any information concerning their project targets and anticipated completion dates. Meanwhile, the developers of the remaining 356 projects neglected to update the progress targets on the UPRERA's online platform.
These penalized projects encompass various categories, including residential, commercial, and plotted developments, and are predominantly situated in regions like Gautam Budh Nagar, Ghaziabad, Lucknow, Meerut, Varanasi, and Agra.
UPRERA's penalties are rather substantial, amounting to Rs 2 Lakh per project for the 732 projects that failed to provide any target details. For the other 356 projects, where the target information was not uploaded on the portal, a penalty of Rs 1 Lakh per project has been imposed. The UPRERA clarifies that the absence of target details does not affect the status of the Operational Progress Report (OPR), contrary to the provisions of the Real Estate Regulatory Authority (RERA) Act.
UPRERA underlines the significance of regularly uploading QPRs on the portal, as this practice enables consumers in the real estate sector to monitor the ongoing progress of the projects at consistent intervals. When UPRERA reviewed applications for extending the registrations of projects, it became apparent that many promoters had failed to upload QPRs for several quarters.
In order to be considered for an extension of their project registration, UPRERA stipulates that promoters must update all QPRs on the portal. Additionally, projects that have successfully obtained Completion Certificates (CC) are required to pay delay charges and ensure that they continue to update their QPRs until the point at which the CC is obtained.
In enforcing stringent penalties on over a thousand non-compliant real estate projects, the Uttar Pradesh Real Estate Regulatory Authority (UPRERA) sends a clear message about the paramount importance of adherence to Quarterly Progress Report (QPR) submissions. These penalties, ranging from Rs 1 Lakh to Rs 2 Lakh per project, underscore UPRERA's commitment to transparency and accountability in the real estate sector. As the authority continues its vigilance, it emphasizes that timely and accurate reporting is fundamental for project registrations and extensions, reinforcing regulatory compliance in the industry.
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