Notification/Circular No.: 629/TG RERA/2024
Document Date: March 18, 2025
Applicable Act/Rule: Real Estate (Regulation and Development) Act, 2016; Telangana Real Estate (Regulation and Development) Rules, 2017
Applicable Section/Rule: Section 11(1)(b) to (e), Section 4(2)(1)(D) of the Act; Rule 14(1)(c)
The Telangana Real Estate Regulatory Authority (TG RERA) has issued a circular reiterating the obligation of real estate promoters to submit Quarterly Progress Reports (QPRs)(Form-1, 2 & 3) and Annual Audit Reports (Form-7) as mandated under the Real Estate (Regulation and Development) Act, 2016, and Telangana Real Estate (Regulation and Development) Rules, 2017.
Promoters are required to file QPRs within 15 days of the end of each quarter and submit audited financial statements within six months after the end of every financial year. These audits must verify that funds collected for specific projects have been utilised appropriately, in proportion to the project’s completion.
Despite prior notifications and show cause notices issued on May 17, 2024, May 20, 2024, and September 25, 2024 some promoters remain non-compliant. The authority has expressed serious concerns over this default, as timely filings are critical for monitoring the financial stability of real estate projects.
To ensure compliance, TG RERA has announced a strict late fee structure effective April 1, 2025. Promoters must clear all pending QPRs by March 31, 2025. Failure to do so will result in a late fee of Rs. 500 per day from April 1, 2025 until submission.
For the annual audit report (Form-7), the following delay fees will apply based on the project cost:
TG RERA urges all promoters to adhere to these requirements to avoid penalties and maintain transparency in project finances.
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