Project Closure
Achieving project completion is a milestone that triggers specific legal obligations. Failure to formalize this closure can lead to ongoing liabilities and restricted access to final funds.
Key Statutory Sections for Project Closure
| Section | Subject Matter | Impact on Closure |
|---|---|---|
| Section 11(4)(b) | Completion Certificate | The promoter is responsible for obtaining the Completion Certificate (CC) or Occupancy Certificate (OC) from the local authority (e.g., VMC, VMRDA). |
| Section 17 | Transfer of Title | The promoter must execute a registered conveyance deed in favor of the allottee and hand over common areas to the Association of Allottees (AOA) within specified timelines. |
| Section 14(3) | Structural Defect Liability | Even after closure, the promoter remains liable for structural defects or any other quality issues for a period of 5 years from the date of handing over possession. |
| Section 11(4)(g) | Handover of Documents | At the time of closure, the promoter must provide all relevant plans, including water, sanitation, and electricity layouts, to the association or the local authority. |
The Final Compliance Checklist
To successfully "close" your project on the AP RERA portal, ensure the following milestones are met:
OC Upload
Upload the OC obtained from the respective Urban Development Authority or Municipal Corporation.
Final QPR
The final update must reflect 100% completion across all parameters on the portal.
Form 5 Submission
Submit the Annual Audit Report (Form 5) certified by a CA to ensure correct fund utilization.
Association Formation
Evidence of the formation of the 'Association of Allottees' must be documented and uploaded.
Important Note: A project is not considered "closed" in the eyes of the law until the registered conveyance deed is executed and the common areas are formally handed over.