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Quarterly Updates
Trackre
Under the Real Estate (Regulation and Development) Act, 2016 (RERA), promoters of registered real estate projects are required to file a quarterly update. This update must be completed every three months to avoid any violation of the mandatory provisions of the Act, as well as the possibility of penalties for delayed filing.
The quarterly update requires information presented by professionals such as chartered accountants, architects, engineers, and legal teams. This information is crucial for ensuring transparency and accountability in the real estate sector, as it helps to monitor the progress of the project and identify any potential issues or delays.
At our company, we understand the importance of timely and accurate filing of the quarterly update. We have a well-established system for collecting and securely storing the information and data required for the update, and we ensure that this data is updated and cross-checked with the data from the previous quarters. This helps to identify any discrepancies or inconsistencies and ensures that the information presented is reliable and up to date.
In summary, as per Section 11(b)(c)(d)(e) of the Act 2016, the quarterly update of a project is a mandatory requirement under RERA. Our team is well-equipped to assist our clients with timely and accurate filing of these updates, ensuring compliance with the provisions of the Act and avoiding any potential penalties.