During a recent review meeting, the Authority expressed concern over the fact that many real estate promoters had not yet submitted the annual reports for their individual projects. Consequently, the Authority stated that show cause notices were being sent to these promoters, informing them that they must submit the reports within 30 days to prevent penalties.

The Authority emphasized that failing to file the annual report for under-construction projects is a serious violation of the RERA Act of 2016. The statement highlighted that the Authority views this issue seriously and has issued show cause notices to the promoters, questioning why a penalty of Rs 0.5 million should not be imposed on those who fail to comply within 30 days from the notice's issuance.

Furthermore, the Authority clarified that if the annual report is not filed within 60 days from the date of the show cause notice, an additional penalty of Rs 10,000 per day will be imposed, in addition to the initial Rs 0.5 million fine.