Quarterly Returns under RERA in Surat

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Quarterly Returns under RERA

Every developer is required to file quarterly returns under RERA which update the current status of their ongoing projects. These returns include details such as:

Original approved plans and any modifications made.

Revenue collected from allottees and fund utilization.

Construction timeline, completion status, and expected delivery dates.

Certification by an Engineer, Architect, and Chartered Accountant to ensure accuracy.

When should quarterly returns to be filed?

The “Quarterly Progress Report” (QPR) must be submitted every three months for each registered real estate project. This reporting continues throughout the project’s lifecycle until completion.

How to File Quarterly Returns?

The following documents and certifications are required for filing:

Architect’s Certificate

The project’s appointed architect must certify the percentage of completion for the quarter.

Includes details such as lift installation, number of floors completed, plastering, plumbing, and other construction progress.

The architect must physically inspect the site before certifying the report.

2. Engineer’s Certificate

The project’s engineer must verify the construction cost incurred relative to the total project cost.

Ensures that the completed construction aligns with the financial estimates and highlights any deviations.

3. Chartered Accountant’s (CA) Certificate

The appointed CA must certify the financial details of the project.

Includes booking amounts received, loans repaid, and outstanding loan amounts.

Ensures that the project financials are transparent and compliant with guidelines of RERA.

Why are Quarterly returns important?

Ensures project transparency for homebuyers and investors.
Monitors fund utilization and prevents financial mismanagement.
Regulatory Compliance – Helps developers adhere to RERA guidelines, avoiding legal complications.

Penalty for Not Filing the Returns

Up to 10% of the project's total estimated cost may be fined for noncompliance with RERA's quarterly return requirements.

Get answers to all your queries

Who is in charge of RERA quarterly return filing?

Quarterly filings must be filed by the project's developer or promoter.

Where should the quarterly returns be submitted?

The returns must be submitted on the respective state's RERA portal.

Do small projects also need to file quarterly returns?

Yes, all RERA-registered projects, regardless of size, must submit quarterly returns.

Can the quarterly return be revised after submission?

Some states allow revisions, but it depends on the specific RERA authority's guidelines.

Is a separate return needed for each project?

Yes, developers must file separate returns for each registered project.