MUMBAI: Maharashtra Real Estate Regulatory Authority (MahaRera) on Friday allowed a six-month extension to builders who have been unable to deliver their projects due to the pandemic.
Developers had earlier demanded that the ‘force majeure’ clause (unforeseen circumstances that prevents them from fulfilling a contract) be invoked. This is the second time in the Covid-19 pandemic that the authority has granted such a relief to builders in the state.
“All MahaRERA registered projects where completion date, revised completion date or extended completion date expires on or after April 15, 2021, the period of validity for registration of such projects shall be extended by six months,” the authority said in a notification. The six-month period ends mid-October.
The authority added that it will accordingly issue project registration certificates with revised timelines for such projects at the earliest and also made it clear that the extension will not apply to projects that were to be completed before April 15.
