Ghaziabad: UP-Rera has extended the deadline for developers to submit their quarterly progress reports (QPRs) for the current quarter from Oct 15 to Oct 21, anticipating fresh project registrations during the festive season. The extension is intended to ease the transition to a newly introduced digital signature and submission process for certificates that must accompany the reports, an official said.“Under new system, certificates shall be submitted directly; quarterly achievement against targets will be generated from this certified data rather than entered separately by the promoter, which will be fully digitised,” he said.Earlier, promoters used to submit quarterly achievements against the physical and financial targets fixed at the time of registration, along with scanned copies of certificates issued by the architect, engineer and CA of the project.Under Section 11 (1) of the UP Rera Act 2016, developers must upload QPRs of their projects within the stipulated time on the Rera website. The report must have details of the project’s progress, which also include photographic proof. Failure to do so attracts a fine of Rs 2 lakh per project.The real estate regulator has also urged homebuyers to exercise caution while making payments for properties and deposit money only into the designated accounts of the developers. “The Authority has advised homebuyers to inform UP Rera if a builder or promoter asks them to deposit money into a bank account other than the designated account. Homebuyers can submit the relevant information through the dedicated link available on the UP Rera portal,” the official said.UP Rera this month has approved 11 real estate projects in five districts. These projects involve an estimated investment of Rs 2,086.06 crore and will lead to the development of 1,873 residential and commercial units.Among the 11 approved projects, GB Nagar leads in terms of investment. Two residential projects have been approved in the district. These two projects involve an estimated investment of around Rs 1,800 crore. A total of 1,398 residential units will be developed under these projects.In Ghaziabad, two residential projects with a valuation of Rs 106 crore have been approved. Two hundred and eleven residential units are proposed to be developed through these projects.
