The Chhattisgarh Real Estate Regulatory Authority (CG-RERA) has implemented a voluntary compliance scheme to promote transparency and accountability in the real estate sector. The scheme will be effective till September 2025.
Under this scheme, all the projects registered till 31st March 2024 have been provided the facility to submit the pending quarterly progress report and annual audit report together. There will be up to 70 per cent waiver of late fee on submission of pending reports and up to 90 per cent waiver for projects having valid completion certificate.
CG-RERA has clarified that the objective of the scheme is to encourage promoters to comply with the regulations so as to strengthen transparency and consumer confidence in the real estate sector. The Authority has appealed to all the promoters to ensure compliance within the scheme period and submit their reports within the stipulated time frame.
Details are available on the official website of CG-RERA https://rera.cgstate.gov.in / and in Circular Nos. 115, 116 and 119. This scheme is considered to be a major step towards strengthening the compliance culture in the real estate sector.