With more than 23 state RERA have extended the registration of projects by another six months and one by nine months due to situation from the coronavirus pandemic. Housing & Urban affairs secretary Durga Shanker Mishra tweeted about this information. This step has been taken to safeguard interests of home buyers that progress of projects doesn’t get interrupted and the flats to be delivered to the consumers with some delay.
This has been taken into consideration with ‘suo moto’ to cut down the unnecessary paperwork and delay.
He stated that some citizen had raised concerns over social media against the extension that has been given to the projects by Ministry’s Advisory to States/RERA. This has been done as an essential measure to safeguard the interest of home buyers,” said Durga Shanker Mishra.
He further added that due to coronavirus pandemic the work progress of ongoing real estate projects had been stopped. Large-scale reverse migration of labour & huge disruptions in supply chain of materials have affected the construction work. Labour are least likely to return before Diwali festivals in October & November gets over.
Thus, real estate projects will take quite some time to fully resume & operational. This will thus delay in completion of some projects leading to lot of litigations for non-compliance of commitments on time. In order to safeguard the interest of home buyers to ensure timely delivery of flats, Ministry’s Advisory to States/RERA invokes the force majeure clause under the law.
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