Ahmedabad: The Gujarat Real Estate Regulatory Authority (GujRERA) has introduced the Gujarat Real Estate Regulatory Authority (General) (Amendment) Regulation, 2024, which aims to simplify the project progress reporting system for developers. The amendments, effective Jan 1, 2025, will bring significant changes aimed at streamlining compliance and improving project monitoring.
GujRERA sources said, “Developers are required to provide certificates of chartered accountant, architect and engineer regarding project progress every quarter. They face delays in getting these certificates because consultants are not many, and also, this compliance adds to the cost for developers. We have decided to ease rules from Jan 1. These new rules will simplify the process and developers will be able to submit QPPR themselves without certification.”
The amendment mandates the submission of QPPR in a newly introduced Form 8. This replaces the earlier reference to QPPR in the 2017 regulations, wherein Forms 1, 2, and 3 were required for updating QPPR on the GujRERA portal. However, developers will be required to submit necessary certifications to withdraw funds from the RERA bank account.
Form 8 provides a detailed structure for tracking project progress, covering physical developments, financial updates and key development for individual blocks and common areas. Developers are required to report details like estimated project cost, completion timelines and progress reports of the building and common areas, including photographs of internal and external development works. The amendment also focuses on technical integration, reducing manual errors and ensuring consistency, said experts.
Sources said that GujRERA is also going to provide relief to developers who failed to submit the progress reports for previous quarters by allowing them to submit it by paying a late fee.
