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«Extension of RERA timelines beyond lockdown period

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uk canada goose outlet States, union territories can suo moto extend registration and completion date of realty projects by six months if projects are registered on or after March 25.RERAs will also issue fresh project registration certificates automatically with revised timelines and extend timelines for various statutory compliances under RERA concurrently, she said.»These measures will de stress real estate developers and ensure completion of projects so that homebuyers are able to get delivery of their booked houses with new timelines,» she said.The real estate sector welcomed the move.»Extension of RERA timelines beyond lockdown period by six months will be a relief to developers who are not defaulting on project completion timelines», said Piyush Gupta, Managing Director Capital Markets (India), Colliers International.»Providing a major relief to real estate developers, the government has extended the timeline for project completions and registration by 6 months. This is a big move that will de stress developers significantly, since construction activity had been halted all across the country. Homebuyers’ wait for their homes will get extended by this move, but this was in any case inevitable,» said Anuj Puri, Chairman ANAROCK Property Consultants.. uk canada goose outlet

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