MahaRERA offers builders a six-month extension to complete projects.

On August 6, the Maharashtra Real Estate Regulatory Authority granted builders a six-month extension to complete projects by approving their request to invoke the ‘force majeure’ clause due to the second wave. This is the second time the authority has provided such a relief to the state’s builders during the pandemic.

“All MahaRERA registered projects whose completion date, amended completion date, or extended completion date expires on or after April 15, 2021, shall have their period of validity for registration extended by six months,” the Authority stated in a statement.

The Authority also stated that it will provide project registration certificates with revised timeframes for such projects as soon as possible, adding that the extension will not apply to projects that were scheduled to be finished by April 15.

According to the notification, the state administration issued directives on April 13 regarding limitations on people’s travel due to the second wave of diseases, which was more deadly.

According to the report, the lockdowns caused construction operations to halt owing to a lack of labor and an impact on the transportation of building materials.

“A six-month force majeure term is imposed from April 15 to October 14,” according to the statement.

The order was made to help the government’s efforts to limit the damage caused by COVID-19 and to guarantee that project completion is not jeopardized, according to the statement.

The time limitations for projects that became due during the force majeure period would be automatically extended for a period until the term expires, it added, stressing that the order will not impact the rights of the allottees.

According to the announcement, promoter organizations had appeared before the Authority, asking this assistance in the aftermath of the second wake, which had crippled the sector.

“It’s a step in the right direction, and the real estate sector expects that authorities other than MahaRERA would follow the same thinking process and give comparable relief,” said developer Niranjan Hiranandani, National President of real estate industry body Naredco.