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Real Estate Sector Welcomes MahaRERA’s Automatic Project Timeline Extension
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Business News This Week
In a significant relief for Maharashtra’s real estate sector, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has granted an automatic four-month extension to the registration and completion timelines of eligible real estate projects under the Force Majeure provisions of the Real Estate (Regulation and Development) Act, 2016.
Mr. Kamlesh Thakur, President, NAREDCO Maharashtra“We welcome MahaRERA’s timely and pragmatic decision to grant an automatic four-month extension to eligible real estate projects under the Force Majeure provisions of the RERA Act.
Such policy interventions reinforce confidence in Maharashtra’s real estate ecosystem and demonstrate the regulator’s commitment to facilitating orderly project completion under extraordinary circumstances.”
Mr. Kaushal Agarwal, Chairman, The Guardians Real Estate Advisory“MahaRERA’s decision to automatically extend project registration timelines by four months for eligible developments is a pragmatic and timely measure.
Responsive measures such as these provide greater certainty to all stakeholders, strengthen confidence in Maharashtra’s regulatory framework, and contribute to the long-term stability and credibility of the state’s real estate sector.”