Maharashtra housing regulator extends deadline for projects due in April to Oct

In view of the devastating second Covid-19 wave, the Maharashtra Real Estate Regulatory Authority (MahaRera) has evoked the ‘force majeure (unforeseen circumstance)’ clause and extended the completion, revised extension, and extended completion dates of real estate projects that were due on or after April 15 by six months to October 14

In view of the devastating second Covid-19 wave, the Maharashtra Real Estate Regulatory Authority (MahaRera) has evoked the ‘force majeure (unforeseen circumstance)’ clause and extended the completion, revised extension, and extended completion dates of real estate projects that were due on or after April 15 by six months to October 14.

This extension will not be applicable to projects whose completion date was before April 15.

The order issued by MahaRera on Friday read: “…whereas the second wave was much more devastating than the first wave and has caused great loss to human lives as well as economy. And consequent lockdowns have caused disruption of supply chains for obtaining construction material, labor work, forced migration, and a slowdown in the pace of construction. Therefore, in order to aid government efforts in controlling the damage caused due to Covid-19 and ensure that completion of MahaRera-registered projects does not get adversely affected, it has been decided to issue this order.”

Builders have welcomed the order, stating that it has brought much-needed relief to the sector.

Source.: Hindustan times

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