Penalties on non submission of Quarterly compliances by APRERA

Penalties on non submission of Quarterly compliances by APRERA
  • General
  • Tuesday 1st October 2019
  • Author: Riya Kapoor

Highlights

  • APRERA has issued a circular dated 25 September 2019 for non-submission of quarterly updates.

  • As per section 11 of the RERA act,2016 it is the responsibility of the promoter to submit quarterly details to RERA.

  • In case of non-compliance of the same promoter will be liable to pay the penalty of up to 5% of the estimated cost of the project.

APRERA has issued a circular dated 25 September 2019 for non-submission of quarterly updates.As per section 11 of the RERA act,2016 it is the responsibility of the promoter to submit quarterly details to RERA. In case of non-compliance of the same promoter will be liable to pay the penalty of up to 5% of the estimated cost of the project.

Following decision has been taken by APRERA in respect of quarterly submission of returns by promoters:

  1. All the promoters/builder has to submit quarterly updates for the current Quarter i.e. 30-09-2019 and previous quarters if any from 01 October 2019 to 07 October 2019.
  2. The promoter who submits the quarterly updates beyond 07 October 2019 i.e from 08-10-2019 to 14-10-2019 have to submit quarterly update with a penalty of Rs 100 per day.
  3. The promoter who submits the quarterly updates beyond 14-10-2019 i.e from 15-10-2019 to 21-10-2019 has to submit the quarterly update with a penalty of Rs 500 per day.
  4. The promoter who submits the quarterly updates beyond 21-10-2019 i.e. from 22-10-2019 to 31-10-2019 have to submit the quarterly update with a penalty of 5% of the registration fees paid by them at the time of registration
  5. If any promoter fails to submit quarterly updates before 31-10-2019, the said promoter has to pay a penalty of 5% of the estimated cost of the project as per section 61 of the act.

Also read- All you need to know about project registration in Andhra Pradesh

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