BHUBANESWAR: To enhance accountability and streamline disclosures in the sector, the Odisha Real Estate Regulatory Authority (ORERA) has issued a directive under the Real Estate (Regulation and Development) Act, 2016, mandating a revised format for quarterly progress reports (QPRs) from registered agents.
The move follows an audit observation by the Directorate of Audit, Indirect Taxes and Customs, which flagged widespread non-compliance and insufficient data in quarterly filings by agents. ORERA’s new order requires the agents to furnish detailed transaction-level information starting from the quarter ending Dec 2025.
“The DG Audit, Indirect Taxes and Customs, Govt of India desires specific information regarding turnover of real estate agents on a quarterly basis and in order to provide such information to Govt of India, the authority desires to modify the QPR format,” the ORERA direction read.
The updated proforma includes the agent’s name, RERA registration number, GST details, project and promoter information, brokerage commission earned, the agent’s role as per the agreement, allottee details, agreement dates, financial transactions, and copies of sale, conveyance, lease agreements, and register entries.
The directive aims to plug data gaps and ensure that agents maintain transparent records of their dealings with buyers and promoters. The comprehensive format is expected to aid regulatory oversight and protect consumer interests in the growing property market.
Real estate agents have been instructed to submit the revised QPRs every three months, with annexures detailing agreements and financial receipts. ORERA officials said that non-compliance may attract penal provisions under the Act.
“This direction under RE (R&D) Act, 2016 is issued to be followed by the real estate agents to submit QPR for the quarter ending Dec 2025 and onwards in the revised proforma,” the directive added.
ORERA has been quite strict in enforcing the QPR norms on promoters and agents. QPR played a vital role in monitoring the actual progress of the real estate projects by the authority. Buyers or investors too can track the progress of the projects where they have invested their money.
