The Chhattisgarh Real Estate Regulatory Authority (RERA) has introduced a Voluntary Compliance Scheme (VCS) to facilitate the submission of pending Annual Audit Reports (AARs) for registered projects. This scheme applies to all projects registered as of March 31, 2024, covering pending AARs up to March 2024.

Key Features of the Scheme:

1. One-Time AAR Submission: Promoters can file a single consolidated AAR for all pending years.
2. Waiver of Late Fees:
   • 70% waiver on late fees for pending years.
   • 90% waiver if the project received a Completion Certificate (CC) during the waiver period.
3. Exemption from Circulars: Circulars No. 54 and 55 will not apply under this scheme.
4. Additional Penalty: A ₹1,000 penalty applies for using this scheme, as per Section 61 of the Act.

Action Required: Promoters should utilize this scheme within the period May 1, 2025, to May 30, 2025, to avoid additional penalties under Sections 60 & 61. If a Completion Certificate is later found invalid, the full late fee shall be recovered.