The Karnataka Real Estate Regulatory Authority (K-RERA) on July 02, 2026, issued notification regarding penalty for delay in submission/ non-submission of Quarterly Updates for financial year 2026-27.
Under the Real Estate (Regulation and Development) Act, 2016 and the Karnataka Real Estate Rules, 2017, promoters are legally obligated to fulfill various duties, including the timely submission of project-related information. One of the key requirements is the submission of quarterly updates for registered real estate projects through the K-RERA web portal.
These updates must be submitted within 15 days from the end of each quarter. Specifically, the deadlines are: July 15 for the first quarter (Q1), October 15 for the second quarter (Q2), January 15 for the third quarter (Q3), and April 15 for the fourth quarter (Q4). This ensures regular disclosure and transparency in project progress.
The requirement to submit quarterly updates is mandatory, and failure to comply may attract regulatory action. These updates play a crucial role in keeping homebuyers and stakeholders informed about the status of real estate projects.
The Karnataka Real Estate Regulatory Authority (K-RERA) is empowered under Sections 35 and 37 of the Act to issue directions and enforce compliance. It can take necessary measures to ensure that promoters adhere to the prescribed rules and timelines.
[Circular No. RERA/ACCOUNTS/DCF/02/2024-ACC]
