Gurugram: The Real Estate Regulatory Authority (RERA) of Gurugram has asked the defaulter promoters to file Quarterly Progress Report (QPR) and Annual Audit Report (AAR) without further delay to avoid “drastic” action.
Earlier this week, the Authority initiated a drive and called the promoters and asked them to comply with the regulations.
“In case it (the persuasion) fails to work, RERA Gurugram shall be compelled to take drastic action against such promoters. This may entail levying of penalties, freezing of their RERA accounts, attachment of their properties etc,” said RERA in a statement.
The Authority has appealed to all its promoters to abide by stipulations and discharge their legal obligations.
The filing of QPR and AAR by real estate promoters is a mandatory requirement under RERA Act 2016 to ensure efficient and transparent progress of constructions of projects and utilisation of funds for better regulations of the real estate sector.
However, in practice, most RERAs in the country are struggling to ensure that it is filed by all concerned on time.
“QPR tells us about the status of the project and therefore, can act as a warning, which if attended to, can avoid undesirable outcomes,” said the statement.
It added that the number of compliant promoters is reasonably high and they deliver projects in time or with marginal delays.
“Another category of promoters comprises mostly pre RERA projects, which have obtained OC, handed over possession and executed the conveyance deed. They also do not generate great concern,” it added.
RERA Chairman Arun Kumar said that those promoters who have delayed or defaulted and are either struggling or are not intending to complete the projects are the ones who are not filing the QPR and the AAR.
Earlier on February 14, Kumar inspected all stuck projects, which involve tens of thousands of innocent homebuyers, who are waiting hopelessly for completion of the projects and handover of their dream homes.
–IANS