Ghaziabad: Uttar Pradesh Real Estate Regulatory Authority (UP-Rera) is upgrading its portal to simplify the filing of quarterly progress reports by real estate developers. The move follows the introduction of a mandatory quarterly progress report requirement for developers seeking a four-month extension for projects affected by the West Asia crisis.Under the existing system, promoters enter quarterly physical and financial achievements against targets fixed at registration and upload scanned certificates issued by the project’s architect, engineer and chartered accountant. Under the proposed system, the certificates will be submitted directly through the portal. The quarterly achievements will then be generated automatically from the certified data, eliminating the need for promoters to enter the information separately. UP-Rera said the revised process was intended to make reporting more streamlined and reduce duplication in the filing process.The new system also aims to ensure the accuracy of the progress record of the project with professionally certified up-to-date project information when the data is ported to UP-Rera web portal 2.0 and the public gets access to the correct status of the project without a gap caused by the changeover.Under Section (11) (1) of UP Rera Act, 2016, it is mandatory for developers to upload the quarterly progress reports of their projects within the stipulated time on the authority’s website. The report must have details of the project, including photographic proof. Failure to do so attracts a fine of Rs 2 lakh per project.“The objective of UP-Rera is to make project-related information more transparent, accurate and up to date. The digital submission of certificates by architects, engineers and chartered accountants, duly authenticated through their digital signatures, will ensure the availability of professionally certified and reliable information on the progress of every project. This is an important step towards the UP-Rera 2.0 web portal and will help ensure a seamless transition, with correct and updated project information readily available to homebuyers and all other stakeholders,” said the chairperson of the authority, Sanjay R. Bhoosreddy.
