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RERA Quarterly Compliance Filing
The RERA Act, 2016 became effective from 1st May, 2016 with 69 sections notified out of 92 sections. RERA is introduced to protect buyer’s interest, enhance professionalism and ensure transparency in the real estate sector.
To infuse transparency into the system and have a Control Mechanism over the ongoing projects of the registered developers, the RERA Authority has come up with the Quarterly Compliance system. As per Section 4(2)(I)(D) of the RERA Act, 2016 a separate account has to be maintained in which 70% of the amount collected from the homebuyers shall be deposited which shall strictly be used by the developer in its project only. After submitting documents of quarterly compliance with the banks stating the % completion of work, this separate account amount can be withdrawn. Hence, this act as a tool of governance to verify the actions.
RERA Quarterly Compliance Filing
The RERA Act, 2016 became effective from 1st May, 2016 with 69 sections notified out of 92 sections. RERA is introduced to protect buyer’s interest, enhance professionalism and ensure transparency in the real estate sector.
To infuse transparency into the system and have a Control Mechanism over the ongoing projects of the registered developers, the RERA Authority has come up with the Quarterly Compliance system. As per Section 4(2)(I)(D) of the RERA Act, 2016 a separate account has to be maintained in which 70% of the amount collected from the homebuyers shall be deposited which shall strictly be used by the developer in its project only. After submitting documents of quarterly compliance with the banks stating the % completion of work, this separate account amount can be withdrawn. Hence, this act as a tool of governance to verify the actions.
RERA Quarterly Compliance Due Dates
| Quarter | Period Covered | Due Date |
|---|---|---|
| Q1 | April – June | 15th July |
| Q2 | July – September | 15th October |
| Q3 | October – December | 15th January |
| Q4 | January – March | 15th April |
What’s Included in Quarterly Compliance?
- Construction Progress Report
- Status of Approvals & Clearances
- Booking/Sales Updates
- Site Photographs
- Project Financial Progress
- Any Change in Project Timeline or Scope
Why is it Important?
- Avoid penalties and legal notices
- Maintain trust and transparency with buyers
- Ensure timely issuance of OC/CC
- Keep RERA registration valid and active
- Strengthen project credibility and promoter profile
Contact us
Project Quarterly Compliances Enquiry
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