MAHA RERA revises project registration validity and extends the timeline for statutory compliance

Apr 23, 2020 | by Avantis RegTech Legal Research Team

Industry Specific Compliance

The Maharashtra Real Estate Regulatory Authority (Maha RERA) on April 02, 2020, revises the project registration validity and extends the timeline for statutory compliance due to sudden outbreak of COVID-19 pandemic. The Government has enforced lockdown in the entire country and ensured that completion of Maha RERA registered projects does not get adversely affected. 

Under the provisions of the Maharashtra Real Estate (Regulation and Development)(Registration of real estate projects, Registration of real estate agents, rates of interest and disclosures on website) Rules, 2017, the Authority has to take into consideration reasons and circumstances that influence the duration for completion of projects while granting registration or extension. The Authority is also required to ensure compliance of the obligations cast upon the promoters, the allottees and real estate agents.

Therefore, in order to aid government efforts, it is decided that: 

 An extension of the validity period of registration by 3 months is provided to all MahaRERA Registered projects where the completion date, revised completion date or extended completion date expires on or after March 15, 2020. Maha RERA should issue project registration certificates, with revised timelines for such projects, at the earliest.

 The time limits of all statutory compliance under the Real Estate (Regulation and Development) Act, 2016 which were due in March / April / May are extended to June 30, 2020.

[Order No.: - 13/2020]


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