Homebuyers: Homebuyers will now get to know project status online | Bhubaneswar News
Bhubaneswar: Homebuyers will now have easy access to the status of the real estate projects they have invested in with the Odisha Real Estate Regulatory Authority (ORERA) making it mandatory for the developers to submit the status of the projects only in online mode.
The ORERA issued an order and asked the developers to submit the quarterly progress report (QPR) of their respective real estate projects in particular websites only.The ORERA will not accept the QPR in the offline mode henceforth, it said.
According to the rules, it is mandatory for promoters of real estate projects to submit the QPR intimating the status of their housing and plotted projects for the information of homebuyers. The Real Estate (Regulation and Development) Act-2016 mandates that developers registered under ORERA are required to submit the QPR within 15 days from the expiry of each quarter. This was elaborated by the authority in its direction dated Nov 5, 2021, the order reads.
Most of the promoters are complying with the said direction of the authority, it has come to the notice that a few promoters are continuing the practice of submitting the hard copies of the QPRs in the offline mode, it reads.
Earlier in January, the ORERA has taken a strong action in this matter and show-caused 285 promoters registered with it for not submitting the QPRs as per the rule. “We are reiterating that the QPRs must be submitted on time. This is important for the home buyers to know the status of the projects,” said ORERA chairman Siddhanta Das.
The ORERA issued an order and asked the developers to submit the quarterly progress report (QPR) of their respective real estate projects in particular websites only.The ORERA will not accept the QPR in the offline mode henceforth, it said.
According to the rules, it is mandatory for promoters of real estate projects to submit the QPR intimating the status of their housing and plotted projects for the information of homebuyers. The Real Estate (Regulation and Development) Act-2016 mandates that developers registered under ORERA are required to submit the QPR within 15 days from the expiry of each quarter. This was elaborated by the authority in its direction dated Nov 5, 2021, the order reads.
Most of the promoters are complying with the said direction of the authority, it has come to the notice that a few promoters are continuing the practice of submitting the hard copies of the QPRs in the offline mode, it reads.
Earlier in January, the ORERA has taken a strong action in this matter and show-caused 285 promoters registered with it for not submitting the QPRs as per the rule. “We are reiterating that the QPRs must be submitted on time. This is important for the home buyers to know the status of the projects,” said ORERA chairman Siddhanta Das.
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