Realty body issues directives to defaulting Ggm builders to submit project reports
The authority said action would be taken against defaulting builders if rules were not complied with
Gurugram: The Haryana Real Estate Regulatory Authority (RERA), Gurugram, on Sunday issued directions to defaulting promoters whose projects are pending to file a quarterly progress report (QPR) and annual audit report (AAR) without further delay to avoid action against them.
The authority said action would be taken against defaulting builders if rules were not complied with as these reports were required to be submitted regularly.
HRERA chairman Arun Kumar had called a meeting of the builders and directed them to submit reports and follow norms with regard to withdrawal of funds from RERA account.
Kumar said that in case the persuasion failed to work, RERA Gurugram would be compelled to act against such promoters. “This may entail levying of penalties, freezing of their RERA accounts, attachment of their properties etc. We appeal to the promoters of real estate companies to abide by the stipulations and discharge the legal obligations,” he said.
According to HRERA Gurugram, filing of QPR and AAR by real estate promoters is a mandatory requirement under RERA Act 2016 to ensure efficient and transparent progress of construction of projects and utilisation of funds for better regulation of the real estate sector. The authority said that a majority of developers had not submitted reports as required under law, and this would not be tolerated any more.
“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 Kumar.
He further observed that promoters, who had delayed or defaulted, and were either struggling or were not intending to complete the projects, were the ones who were not filing the reports and would face action for such violations.
HRERA Gurugram recently initiated action against developers, whose projects are stuck, particularly those in the affordable category.
Stay updated with all top Cities including, Bengaluru, Delhi, Mumbai and more across India. Stay informed on the latest happenings in World News along with Delhi Election 2025 and Delhi Election Result 2025 Live, New Delhi Election Result Live, Kalkaji Election Result Live at Hindustan Times.
Stay updated with all top Cities including, Bengaluru, Delhi, Mumbai and more across India. Stay informed on the latest happenings in World News along with Delhi Election 2025 and Delhi Election Result 2025 Live, New Delhi Election Result Live, Kalkaji Election Result Live at Hindustan Times.