RERA: Project's Quarterly Update data is now public - Here's what every developer needs to know.
Author: Editorial Desk
Introduction:
In a significant development for the real estate sector, the Karnataka RERA has begun publishing project-level quarterly updates on its public portal. The move enables homebuyers, investors, lenders, statutory departments (Gst, Income tax etc), and other stakeholders to access verified information filed by the promoters about registered projects, directly from the regulatory authority.
What is now visible to the public?
As mandated under Section 11(1) of the RERA, promoters are required to create and maintain a public webpage on the Authority’s portal and update the following on a quarterly basis:
- Number and types of apartments or plots booked - Section 11(1)(b)
- Status of approvals taken and approvals pending - Section 11(1)(d)
- Quarterly status of the project- Section 11(1)(e)
- Such other information and documents as specified by the Authority's regulations - Section 11(1)(f)
Under Section 11(1)(f), Karnataka RERA has further specified additional disclosures through its regulations, including financial details, fund utilization, agreement registration status, modification of plan, Litigation on project land, NoCs obtained during the quarter, parking booking, borrowings, status of formation of association of allottees etc.
The compliance imperative
Greater access to project data is widely seen as a positive outcome for the sector. It builds trust, reduces information asymmetry between developers and buyers, and signals the maturing of India’s real estate regulatory framework. Homebuyers who can independently verify a project’s status are better placed to make informed decisions, and that confidence, experts note, ultimately benefits the ecosystem as a whole.
However, the development also places a spotlight on the accuracy of filed data. Discrepancies between ground reality and regulatory filings, even unintentional ones, are now far more likely to be noticed, questioned, and acted upon. Professionals involved in the certification and submission of project data, including chartered accountants, engineers, and architects, are among those whose responsibilities are now subject to greater public scrutiny.
What this means for stakeholders
- Quarterly filings must be reviewed for accuracy and completeness.
- CA, engineer, and architect certificates must align with portal disclosures.
- RERA Separate Bank Account fund utilization data must be reconciled.
- Pending compliance gaps must be addressed before they attract regulatory or public attention.
Way Forward – A Culture of Compliance
This step by Karnataka RERA is not merely procedural, it is transformative. It encourages the entire industry towards:
- Proactive compliance rather than reactive corrections
- Robust internal controls and documentation
- Professional diligence and ethical responsibility
- Verified and accurate data
Conclusion
The publication of quarterly project updates is mandatory under the Act, is a commendable move that aligns with the broader vision of a transparent, disciplined, and trustworthy real estate sector.
Stakeholders must recognize that with increased visibility comes increased responsibility. Ensuring accurate, timely, and compliant disclosures is no longer optional, it is fundamental to sustainable development in the real estate ecosystem.
To maintain a healthy compliance, approach our RERA Professionals for timely advice and submissions.
Disclaimer:
The information contained in this article is provided for general informational purposes and does not constitute legal advice. Readers should not act or refrain from acting on the basis of any content included herein without seeking appropriate legal or professional advice on the specific facts and circumstances at issue.
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