Delays can be unavoidable compliance cannot be.
Facing challenges for timely completion, talk to us and we will help you avail an extension.
Local Expertise Across Southern India
Why are Project Extensions
Critical
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Unforeseen challenges hindering your project progress.
Provide a valid and adequate reason that justifies the delay such as force majeure events (natural disasters, extreme weather) or other significant, unforeseen circumstances beyond the promoter's control.
Ensure all your quarterly reports and annual audits are up-to date and well within the stipulated compliance guidelines.
You will be scrutinized to check if the prescribed amount is deposited into the escrow account. Additionally, you will need a qualified architect / engineer to report project progress and the schedule for pending work.
In certain cases, the authority might also ask to submit written consent from allottees and there should not be any outstanding grievances.
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What You Need to Know?
Section 6: Extension due to Force Majeure
The RERA authority allows up to 1 year of extension provided the builder / promoter can substantially prove the cause for delay due to a force majeure event including natural calamities, war or other unforeseen disasters.
Section 7 (3) Provisions
Despite delays in completion and the authority finds potential to complete, the authority may allow extension under specific conditions.
Section 8: Ensures Project Completion
When a builders / projects registration has been revoked, RERA takes over the onus of completing the project. The authority can appoint a new builder of capable professionals to ensure the project is delivered to the allottees.
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Our 4-Step Registration Process
Free Expert Consultation
Document Preparation
Accurate Application Filing
Fast Approval & Certification
Key Takeaways for Developers
The Real Estate (Regulation and Development) Act, 2016 (RERA) is primarily established to protect the interests of homebuyers and allottees. Hence complying with RERA guidelines is a must to sustain and build a reputable brand in the real estate business.
- Maximum duration of a project extension should not exceed 1 year
- Promoters & builders must apply to the respective state’s RERA authority for project extensions
- If promoters default, violates terms or engaging in unfair practices are considered as grounds to revoke a projects registration.
- If buyers repeatedly file complaints, can cause for revocation of registration.
- If registration is revoked, promoter can be debarred and listed as a defaulter along with freezing of bank accounts.
Don’t Let Regulations Delay Your Project Launch.
Let our experienced team handle your RERA registration while you focus on building your real estate brand and execute a faster go-to-market plan.
All your questions answered
Project extensions must be formally submitted to the respective state’s RERA authority. When requesting for an extension, ensure you have comprehensive and credible evidence to demonstrate that the delays are beyond your control.
Yes, if your project registration is revoked, you can appeal to the Real Estate Appellate Tribunal (REAT) within a period of 60 days from the time of receiving the order.
Firstly, be sincere in attempting to complete your project in a timely manner. Additionally, ensure you put RERA compliance on priority and have not defaulted on timelines, quarterly filings, or annual audits and other compliance requirements as prescribed by the authority.