Tag: Real Estate Regulation and Development Act

Latest StoriesRera

Odisha RERA Updates Quarterly Report Formats for Agents

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…

Latest StoriesRera

Karnataka: 10 Builders Owe ₹347 Crore in Penalties

Even years after the implementation of the Real Estate Regulation and Development Act (RERA), many major builders in Karnataka are disregarding recovery orders from the Karnataka Real Estate Regulatory Authority (K-RERA). Consequently, homebuyers with favorable rulings find themselves struggling for justice through courts and bureaucratic channels. When RERA was launched, there was hope that victims of real estate fraud would quickly receive justice. Unfortunately, that hope has largely gone unfulfilled. A striking example is the fact that ten major builders owe a collective ₹347 crore in penalties, yet have not made any payments. Recent information acquired through an RTI query…