Bhubaneswar: The Odisha Real Estate Regulatory Authority (ORERA) has modified the quarterly progress report (QPR) formats for builders and allowed hard-copy submission for offline-registered projects, doing away with the only online filing system earlier.The revised formats, notified recently, will be applicable from the quarter ending June 2026 onwards and according to officials are expected to improve transparency, accuracy and compliance tracking under the Odisha Real Estate (Regulation and Development) Act 2016 (RERA).Under the new method, projects registered offline, which are a few in number, will submit QPRs in physical form, while those registered online, which combined the bulk of the projects, will continue filing reports digitally through the ORERA portal. The move comes after the authority observed technical issues.The authority has also changed the structure and content of the QPR proformas, making disclosures outcome-oriented. “The objective is to make the format simple and user-friendly,” said ORERA chairman Asit Mohapatra.The revised formats now separately capture unit booking status, execution of agreements for sale, conveyance deed registrations and occupancy certificate (OC) progress, offering a clearer picture of project advancement beyond broad construction claims.In contrast, the earlier QPR format largely combined financial and booking details and focused on basic construction milestones and fund withdrawal eligibility. QPR is a crucial document submitted by builders informing about the progress of the projects every quarter.The new proforma now requires promoters to report milestone-wise physical progress, along with reasons for delays. Geo-tagged photographs uploaded through the ORERA mobile application will be mandatory for online filings.Financial reporting has also been refined. The format now tracks quarter-wise collections, transfers to the 70% designated RERA account, withdrawals, expenditure from various sources and closing balances.“Standardized reporting without addressing differing registration modes was leading to compliance stress and weak monitoring. The revised formats now balance practicality with regulatory oversight,” Mohapatra added.The latest revision builds on an earlier ORERA direction issued in Dec 2024, which clarified that QPRs and annual audit reports must be filed even for part-quarters or part-years, and that promoters must submit NIL reports if there is no activity during the reporting period.While promoters may face greater disclosure and documentation requirements, regulators believe the changes will benefit homebuyers by enabling closer tracking of construction, finances and legal milestones, including OC and conveyance deeds, officials said.
