BHUBANESWAR: The Odisha Real Estate Regulatory Authority (ORERA) has revised the quarterly progress report (QPR) formats for builders, now allowing hard-copy submissions for offline-registered projects, moving away from the previous online-only system.
These new formats, recently announced, will take effect starting from the quarter ending June 2026. Officials believe this change will enhance transparency, accuracy, and compliance tracking as per the Odisha Real Estate (Regulation and Development) Act 2016 (RERA).
Under the new guidelines, projects registered offline, though limited in number, will submit QPRs in physical format, while the majority of online-registered projects will continue to file reports digitally via the ORERA portal. This adjustment follows the authority’s recognition of technical difficulties.
The structure and content of the QPR forms have been updated to focus on outcome-oriented disclosures. “Our aim is to simplify and make the format more user-friendly,” stated ORERA chairman Asit Mohapatra.
The new forms will now distinctly report on unit booking status, execution of agreements for sale, conveyance deed registrations, and the progress of occupancy certificates (OCs). This change provides clearer insights into project development beyond general construction claims.
Previously, the QPR format largely merged financial and booking information, concentrating on basic construction milestones and fund withdrawal eligibility. The QPR is a critical document that builders submit quarterly to report project progress.
The updated proforma mandates promoters to report physical progress by milestones, along with explanations for any delays. Geo-tagged photographs must be uploaded through the ORERA mobile application for online submissions.
Financial reporting has been further refined, now detailing quarterly collections, transfers to the designated 70% RERA account, withdrawals, expenses from various sources, and closing balances.
“The previous standardized reporting did not accommodate the different registration modes, causing compliance difficulties and weak monitoring. The revised formats now strike a balance between practicality and regulatory oversight,” Mohapatra added.
This latest revision builds on an earlier ORERA directive from December 2024, which clarified that QPRs and annual audit reports must be filed even for partial quarters or years, requiring promoters to submit NIL reports if there’s no activity during the reporting period.
While promoters may experience increased disclosure and documentation obligations, regulators anticipate that these changes will ultimately benefit homebuyers by enabling closer monitoring of construction, finances, and legal milestones, including occupancy certificates and conveyance deeds, officials concluded.
