K-RERA To Levy Penalties On Builders For Non-Submission Of Annual Audit Reports For FY 2024–25

The Karnataka Real Estate Regulatory Authority (K-RERA) has issued a circular mandating the imposition of annual penalties on promoters who have failed to submit their annual audit reports for their housing projects for the Financial Year 2024–2025. Despite the regulatory mandate, the authority noted that several projects had bypassed the final deadline of December 31, 2025, even though the initial statutory due date for the FY 2024–25 reports had been extended through earlier circulars on...