Regulator warns Gurugram developers of penalty for delay in filing projects' progress reports
Filing of quarterly progress reports (QPR) and annual audit reports (AARs) by real estate developers is a mandatory requirement under RERA Act 2016. The rule seeks to ensure efficient and transparent progress of constructions of projects and utilisation of funds.
![Regulator warns Gurugram developers of penalty for delay in filing projects' progress reports](https://cdn.zeebiz.com/sites/default/files/2024/02/25/281950-351-1.jpg?im=FitAndFill=(1200,900))
According to the statement, the number of compliant promoters is reasonably high and such builders deliver projects on time or with some delays. Image Courtesy: Freepik.