JHARERA imposes Rs 98.7L fine on 83 builders for failing to submit progress reports | Ranchi News

JHARERA imposes Rs 98.7L fine on 83 builders for failing to submit progress reports
JHARERA secretary Surjeet Mukherjee said the action was intended to ensure homebuyers had access to current information about registered projects

Ranchi: The Jharkhand Real Estate Regulatory Authority (JHARERA) has issued notices to 173 developers for failing to update mandatory quarterly progress reports (QPRs) on its portal and imposed penalties totalling Rs 98.75 lakh in 83 cases over the past three months.The action followed two rounds of notices — 47 in July and 126 in Aug — aimed at identifying promoters who had not updated project information as required under the Real Estate (Regulation and Development) Act, 2016.Under the QPR system, promoters must periodically upload details of project progress, bookings, statutory approvals and other prescribed disclosures on the JHARERA portal. Failure to provide the information, or delay in updating it, is treated as non-compliance.Of the cases taken up by the authority, 83 developers were fined a combined Rs 98.75 lakh. Three cases were dropped after the developers completed the required compliance or submitted satisfactory explanations.As many as 170 cases remain pending and will be taken up in follow-up compliance hearings as part of further follow-up. The repeat notices issued in Sept were part of regulator’s effort to ensure developers respond to the proceedings and meet their statutory obligations.JHARERA secretary Surjeet Mukherjee said the action was intended to ensure homebuyers had access to current information about registered projects.“The objective is to ensure transparency in the real estate sector and protect the interests of homebuyers. Developers are required to keep information relating to their projects updated so that buyers are not left without the latest details,” he said.Mukherjee said the authority would continue to act against developers who failed to comply with the regulatory framework.“Compliance is an important part of the regulatory framework. When developers do not comply, the authority has to take appropriate action,” he said.The proceedings underline the regulator’s focus on timely project disclosures and accountability in the real estate sector.

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