Orange Door Infra Real Estate Advisors in Noida
by Dev Vasu Dwivedi Aug 06 2024

UP RERA Enhances QPR Filing Facility — A Major Boost for Transparency in Real Estate

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has made a huge effort to improve transparency, compliance, and accountability in the real estate industry by upgrading the Quarterly Progress Report filing facility on its official website. This is expected to benefit homebuyers, investors, and real estate developers in equal measure by encouraging real-time project tracking and timely updates on project progress.

What Is QPR and Why Does It Matter?

As per the Real Estate (Regulation and Development) Act, 2016 (RERA), it is mandatory for real estate developers to submit Quarterly Progress Reports (QPRs) for all registered real estate projects.

Benefits of Timely Filing of QPR:

  • Increases transparency in projects
  • Safeguards the interests of buyers
  • Enables early intervention by the authorities in case of delays or defaults
  • Boosts investor confidence and credibility in the market

The recent modifications by UP RERA are expected to make this experience smoother, more precise, and user-friendly for all concerned parties.

Key Enhancements in UP RERA’s QPR Filing Facility

Here is a list of the key modifications and improvements brought about by UP RERA:

No Late Fees on Completion Certificates

There shall be no late fees charged to promoters for filing QPRs if a Full Occupation Certificate (O.C.) or Completion Certificate (C.C.) has been uploaded, even if the registration period of the project is still valid.

Clear Filing Sequence

To ensure accuracy, QPRs can only be filed after all pending QPRs have been updated. This will not allow promoters to miss filing earlier QPRs and will ensure that the entire project record is complete.

Extension Requests Tied to Compliance

Extension requests for project registration can only be made after all previous QPRs are completely updated on the website. This will ensure continuous compliance as the project moves ahead.

Better Error Handling & System Alerts

When a promoter does not upload the required physical and financial QPR information, even after paying late fees, the system sends automated notifications. Failure to comply may lead to re-imposition of late fees or action by the regulatory authority.

Smart Handling of Project Changes

When there is a change in the type of a project (say from plotted development to villas), the QPRs already submitted will be safely stored in the system, and no further late fees will be imposed during this period.

Pro Tip for Developers

When projects achieve their physical milestones prior to the scheduled date, they will automatically reflect as “Activity 100%” in the system, thus saving time and ensuring accuracy of data for all concerned.

What This Means for Homebuyers & Investors

The upgrades in the UP RERA portal are more than just a series of technical adjustments – they symbolize a broader movement towards achieving total transparency in the reporting of project progress. Here’s why it’s important:

Instant Visibility Into Project Status

Homebuyers can now be assured that the status of the project, whether physical or financial, is true and updated regularly on the online portal.

Transparent Oversight & Compliance

The mandatory filing sequences and extension approvals of linked projects ensure that developers do not hold back project progress updates, which was a common issue in the past.

Increased Regulatory Oversight

By requiring total QPR history and linking it to extension applications, UP RERA enhances its ability to oversee projects that are underperforming or lagging behind.

Additional Actions by UP RERA to Promote Transparency

UP RERA has also recently:

  • Asked the promoters to submit the backlogs in QPRs within tight timelines to avoid any kind of punishment.
  • Imposed fines on the developers who do not submit the QPRs in the proper manner sometimes even to the extent of lakhs in a project.
  • Added new functionalities to the website so that the buyers can report the diversion of funds or misuse directly.

All these steps taken together have helped to increase protection for buyers, accountability for developers, and transparency in the real estate sector.

Conclusion

UP RERA’s enhancements to the QPR filing facility mark a major milestone in improving transparency and regulatory compliance in the Uttar Pradesh real estate sector. Whether you’re a developer, investor, or homebuyer, the revamped system offers better accountability, streamlined reporting, and less room for ambiguity.

By encouraging timely and accurate progress updates, UP RERA continues to strengthen trust in the property market — making real estate investments safer and more predictable.

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