In a noteworthy development, more and more Maharashtra real estate developers are updating project details on a regular basis by submitting the Quarterly Progress Report (QPR) with the Maharashtra Real Estate Regulatory Authority (MahaRERA). In January 2023, when MahaRERA started reviewing project compliance, only 0.02% of housing projects had complied with this requirement. In February 2025, 62% of housing projects complied with this requirement.
This has brought a lot of ease to the homebuyers. Since all the updated information regarding the project is available on the website of MahaRERA, complaints from the homebuyers have reduced. The MahaRERA was constantly following-up with the developers to fill their QPRs and also took action against the ones failing to do so. On failing to submit the QPR, developers’ bank accounts linked to the projects were frozen and their MahaRERA registration numbers were suspended.
Of the 18,012 housing projects that are now underway in Maharashtra, 11,080 are routinely revising their QPRs. Compared to January 2023, when only two out of 748 projects (0.02%) were compliant, this is a tremendous change. Through awareness campaigns, talks, and legal actions—which include fines and limitations on flat sales for developers who do not comply—the Compliance Cell, which was founded that year, has played a significant role in bringing about this change.
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Developers must update their QPRs on January 20, April 20, July 20, and October 20 of each quarter in accordance with Sections 3, 4, and 11 of the Real Estate (Regulation and Development) Act, 2016. Their duties are further outlined in Order 33/2022, which was published on July 5, 2022.
Important financial and construction information must be included in the reports, such as Forms 1 and 2, which describe the status of the development, and Form 3, which offers financial information such as the number of apartments and parking spaces reserved, the amount paid, and the expenses incurred.
In January 2023, MahaRERA introduced the Financial Quarter-Based Project Progress Reporting System to guarantee that these rules are strictly followed. Since then, the Compliance Cell has taken strong action, holding talks and seminars and targeting defaulters with fines. As a result of these efforts, 62% of developers currently adhere to the reporting requirement.
MahaRERA has reaffirmed that it will not accept any carelessness or tardiness in updating quarterly reports. Since more current project information is now available to homebuyers and encourages better accountability in the real estate industry, the initiative's success is already apparent.