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Home Blog Real Estate News & Updates Completion deadlines of real estate projects extended by 3 months: MahaRERA

Completion deadlines of real estate projects extended by 3 months: MahaRERA

Published : April 3, 2020, 3:35 PM

Updated : November 21, 2023, 12:11 PM

Author : author_image admin

Real Estate News & Updates
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April 3.2020: Due to the country-wide lockdown on account of the pandemic, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has granted 3 months’ extension for registration of real estate projects, that were slated to be completed on or after March 15. MahaRERA will re-issue project registration certificates, with revised timelines.

The authority has also stretched deadline of all legal compliances in accordance with RERA, 2016 that were due in March, April and May to June 30, 2020.

As a result of the lockdown, the supply chains for obtaining construction material have been interrupted and a lot of daily wage labourers have moved back to their home states. The current situation makes it difficult to resume work.

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The real estate sector has welcomed the proactive move. It would provide a much needed relief to the developers. The extension takes care of the immediate timeframes and deadlines. The developers are hopeful that the crisis will fizzle out soon, and meanwhile such steps will help tone down the severity of the lockdown in short term.

The real estate sector has welcomed the order.

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