APRERA circular on late quarterly compliance filing.

APRERA circular on late quarterly compliance filing.
  • General
  • Saturday 1st February 2020
  • Author: Riya Kapoor

Highlights

  • The promoter who has failed to submit the previous Quarterly update (i.e., 01-07-2019 to 30-09- 2019) has to submit with the penalty of 150% of the registration fee paid by them at the time of registration of the project.

  • AP RERA Authority has decided to give 15 days of time i.e., 1st January 2020 till 15 January 2020 to all the promoters to prepare for the present Quarter(i.e., 01-10-2019 to 31-12-2019) and the same shall be uploaded from 16th January 2020 till 22nd January 2020

As per section 11(1) of the RERA Act, 2016 it is the duty of the promoter to submit the quarterly update to this Authority at the end of each quarter. As per the data available with this AP RERA Authority, it is clearly evident that some of the promoters are not submitting the quarterly update to this Authority within the time stipulated provided under the Act and Rules. It is also clear that if any promoter contravenes the provisions of the Act will be liable to pay the penalty up to 5% of the estimated cost of the project as per section 61 of the RERA Act, 2016.

 In this regard this Authority in supersession of the penalty provisions as mentioned in Circular No. P/1082/2019-2 has decided as follows:

1. The promoter who has failed to submit the previous Quarterly update (i.e., 01-07-2019 to 30-09- 2019) has to submit with the penalty of 150% of the registration fee paid by them at the time of registration of the project.

2. AP RERA Authority has decided to give 15 days of time i.e., 1st January 2020 till 15 January 2020 to all the promoters to prepare for the present Quarter(i.e., 01-10-2019 to 31-12-2019) and the same shall be uploaded from 16th January 2020 till 22nd January 2020. The below table indicates the penalty to ne levied on the promoter who fails to submit the quarterly update on time for the present Quarter (i.e., 01-10-2019 to 31-12-2019). 

Submission Window Applicable Penalty
1 st January 2020 to 22nd January 2020  Nil
23rd January 2020 to 10th February 2020 50% of the registration fee as paid by the promoter at the time of registration of the project. 
11th February 2020 to 29th February 2020 100% of the registration fee as paid by the promoter at the time of registration of the project.

 

To File your Quarterly Compliances , click here

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