BENGALURU: In a move to protect homebuyer rights, the Karnataka Real Estate Regulatory Authority (K-Rera) decided to impose a penalty of Rs 25,000 per quarter on promoters who delayed or failed to submit quarterly progress reports (QPRs) for the financial year 2025-26, as mandated under the Real Estate (Regulation and Development) Act, 2016.
In a circular issued Tuesday, the authority reiterated that promoters are required to upload quarterly updates of their registered real estate projects on the K-Rera web portal within 15 days of the end of each quarter. Citing powers vested under the Act, K-Rera said it is authorised to issue directions and impose penalties for contravention of obligations by promoters.
However, K-Rera extended a final one-time opportunity to promoters to submit Q1, Q2, and Q3 reports without penalty on or before Feb 20, 2026. The authority said it will initiate recovery proceedings from Feb 20 for delayed or non-submission, and the circular came into force from Jan 20.
Meanwhile, builders said quarterly filings are largely procedural and technical, and while penalties are acceptable, they should be nominal and proportionate.
However, home buyers praised the move, saying this can help in disciplining the builders. Srinivasa Rao Talla, secretary, Bangalore City Flats Owners Welfare Association (BCFOWA) said: “This helps both authority and homebuyers know about the progress of the project. Authorities can take suo motu action if progress falls short of stipulated timelines.”
Dhananjaya Padmanabhachar, convenor, Karnataka Home Buyers Forum, however, said the penalty announced by the authority is too low. “The Rera Act empowers the authority to impose a penalty of up to 5% of the project cost. If the penalty is higher, the promoters will comply with Rera rules. It is surprising to see the authority still did not release the project completion policy so that promoters can comply with project closure at Rera. When the Rera authority is at fault, who will impose a penalty on them?”
MS Shankar, general secretary, Forum for People’s Collective Efforts, said: “In our 2024 letter, we noted that K-Rera remains lenient on violations requiring quarterly project updates. Despite a similar 2020 circular, no projects are properly mapped, casting doubt on K-Rera’s seriousness in implementing the current directive.”
