BHUBANESWAR: To bolster accountability and improve transparency in the real estate sector, the Odisha Real Estate Regulatory Authority (ORERA) has mandated a new format for quarterly progress reports (QPRs) from registered agents, in accordance with the Real Estate (Regulation and Development) Act, 2016.
This initiative comes after an audit by the Directorate of Audit, Indirect Taxes and Customs, which highlighted significant non-compliance and insufficient data in quarterly submissions by agents. Starting from the quarter ending December 2025, agents will be required to provide detailed, transaction-level information.
According to the ORERA directive, “The DG Audit, Indirect Taxes and Customs, Govt of India seeks specific details on the turnover of real estate agents quarterly, prompting the need for an updated QPR format.”
The revised format will include essential details such as the agent’s name, RERA registration number, GST information, project and promoter details, commission earned, the agent’s role in agreements, allottee information, agreement dates, financial transactions, and copies of relevant sale or lease agreements.
This directive aims to bridge data gaps and ensure agents maintain transparent transaction records with buyers and promoters. The comprehensive QPR format is expected to enhance regulatory oversight and safeguard consumer interests in the expanding property market.
Real estate agents are required to submit updated QPRs every three months, along with annexures detailing agreements and financial receipts. ORERA officials have indicated that non-compliance may lead to penalties under the Act.
“The revised QPR format is to be implemented for the quarter ending December 2025 and thereafter,” the directive emphasizes. ORERA has been stringent in enforcing QPR compliance among promoters and agents, with these reports playing a critical role in monitoring the actual progress of real estate projects, allowing buyers and investors to track the status of their investments.
