JRERA imposes 83.5L penalty on 77 builders over report delay

Ranchi: Jharkhand Real Estate Regulatory Authority (JRERA) on Friday imposed a total fine of Rs 83,50,000 on 77 builders after the developers failed to submit mandatory quarterly progress reports (QPR) and ignored summons to appear before the JRERA court.Warning of sterner action, JRERA chairman Birendra Bhushan said, "The defaulters failed to appear in the court on Friday, following which the penalties were imposed. Failure to clear these dues would result in the freezing of the defaulters' bank accounts."The action is part of a phased enforcement drive by the regulator. In the current round, notices were issued to 106 builders for violating transparency norms. While two developers have paid their fines and 27 notices could not be delivered, the remaining failed to present their case on Friday, leading to the immediate imposition of penalties. Under existing regulations, any project having more than eight flats must be registered with JRERA. Post-registration, developers are legally bound to provide quarterly updates detailing construction milestones, financial health and overall progress.The fines are calculated at a rate of Rs 25,000 per missing quarter. "The total fine imposed is based on the number of quarters different builders failed to submit the report," Bhushan said. He further said that for those whose physical notices couldn't be delivered, JRERA is now serving summons via email and WhatsApp.Out of 1,711 projects registered with JRERA across the state, more than 50% have failed to submit their progress reports. The chairman said that notices will continue to be sent to all defaulters in a phased manner to ensure accountability.
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