Extension of Registration and Completion Date of Real Estate Projects under RERA
- Wednesday 13th May 2020
- Author: Riya Kapoor
Treat COVID-19 as an event of â€˜Force Majeureâ€™ under RERA.
Issue fresh â€˜Project Registration Certificatesâ€™ automatically with revised timelines
Finance Minister Nirmala Sitharaman issued guidelines regarding project registration in RERA.Adverse impact due to COVID and projects stand the risk of defaulting on RERA timelines. Time lines need to be extended.Ministry of Housing and Urban Affairs will advise States/UTs and their Regulatory Authorities to the following effect:
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- Revocation under the RERA Act
- RERA Limitations
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- Working of RERA after its enactment
- Legal Remedies if real estate project is stucked
- Rules governing Punjab RERA
- Best RERA Practices to be followed by Builders
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