Circulars No. 115 & 116 dated 28.03.2025 launched the VCS to allow promoters to rectify non-compliances and obtain waivers on late fees related to QPR and AAR submissions. Several queries from stakeholders prompted clarification on procedural and substantive aspects of the scheme.

1.Due Date Extension:
The deadline to avail benefits under the VCS, including submission of QPRs for Jan–Mar 2025, is extended to 30th June 2025.

2.Adjustment of Paid Late Fees:
Where late fees were paid without submitting QPRs/AARs, promoters can still avail a 70% or 90% waiver. Paid amounts will be adjusted; excess amounts will be forfeited.

3.Designated Account Clarification:

• If project was completed at registration but CC was obtained later, a Promoter Account may be declared in lieu of a Designated Account.
• If project was incomplete at registration and no Designated Account was opened, benefits under VCS can still be availed if:

• • CC was received before 30.12.2024,
  • A duly signed undertaking is submitted, and
  • A penalty is paid based on project cost (see table attached in the link).

4.New Annexure 22A:
Introduced for exclusive use under VCS and available for download on the RERA portal.