QPR & Ongoing Compliance

A QPR is filed every quarter for the life of the registration. It updates MahaRERA on construction progress against the sanctioned plan, the financial position of the project account, and the status of bookings and receivables — and it must reconcile with the annual audit.

Non-compliance can lead to monetary penalties and, in serious cases, suspension of the registration, which stops you from marketing or selling. Suspensions are avoidable with a managed calendar; where one has occurred, we handle the remediation.

Form 1 is the architect's certificate of the percentage of construction completed. Form 2 is the engineer's certificate of the cost actually incurred. Form 2A covers the project's quality-assurance standards. Form 3 is the chartered accountant's certificate that withdrawals from the designated account are proportionate to the completion certified in Forms 1 and 2. Form 5 is the annual audit of that same account across the financial year. The first three support each withdrawal; the last closes the year.

Seventy per cent of what you collect from allottees must sit in the designated project account and may be spent only on that project's land and construction cost; the remaining thirty per cent is unrestricted. Each withdrawal from the seventy per cent needs the architect's, engineer's and chartered accountant's certificates (Forms 1, 2 and 3) — so the money you can draw is capped by the construction you can certify.