Rera orders ground checks as realtors fail to file reports

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GURGAON: The Haryana Real Estate Regulatory Authority (H-Rera) has sought a ground report on around 100 housing projects on which developers have not been submitting the quarterly reports.
The developers have to submit quarterly reports to the authority on the construction status of the projects. The regulator, through its police wing, has started doing fact checks to push developers to comply with the norms.Also, the authority plans to cleanse the database based on the ground reports.
According to a senior Rera official, the authority has initiated action as most projects are running behind schedule and developers haven’t submitted quarterly progress reports and annual audit reports to the regulator. Acting on the direction, a Rera team inspected around 14 residential and commercial projects in various sectors and took stock of the situation.
In Feb, H-Rera chief Arun Kumar had started the initiative to act against such lax builders. The authority also warned of strict action if developers did not follow the rules and conditions.
“Filing of quarterly progress report and annual audit report by real estate promoters is mandatory under the Rera Act 2016, but even after this, several builders have not submitted the report. Quarterly progress report gives info on the status of a project’s construction so that attention can be paid to the project in time,” said an HRera official.
According to the norms, if a builder doesn’t follow the rules and conditions, there is a provision of imposing penalty against the management, seizing its Rera accounts and confiscating properties among others.
The realty companies who don’t intend to complete the projects do not file quarterly reports and annual reports or delay them, said the official.
On Feb 14, Kumar himself had inspected all stalled projects to know the ground situation and assured thousands of innocent allottees about action against the erring developers.

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Credit Source – https://timesofindia.indiatimes.com/city/gurgaon/rera-orders-ground-checks-as-realtors-fail-to-file-reports/articleshow/109145812.cms

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