RANCHI: The Jharkhand Real Estate Regulatory Authority (JRERA) levied a cumulative fine of Rs 83,50,000 against 77 builders on Friday due to their failure to submit required quarterly progress reports (QPR) and non-compliance with court summons.
JRERA Chairman Birendra Bhushan warned of more stringent actions, stating, “The defaulters did not show up in court today, leading to these penalties. If they do not settle their dues, their bank accounts will be frozen.”
This enforcement is part of a broader initiative by the regulator. Recently, notices were issued to 106 builders for breaching transparency regulations. Two developers have settled their fines, and 27 notices could not be delivered. The rest failed to present their cases, resulting in immediate penalties. Under current regulations, all projects with more than eight flats must be registered with JRERA, which obligates developers to provide quarterly updates on construction progress and financial status.
The fines are calculated at Rs 25,000 for each missing quarterly report. “The total penalty reflects how many quarters each builder neglected to submit their reports,” Bhushan noted. He added that for notices not delivered physically, JRERA is now issuing summons through email and WhatsApp.
Out of 1,711 registered projects, over 50% have not submitted their progress reports. The chairman indicated that notices will continue to be dispatched to all defaulters in a phased approach to ensure accountability.
