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RERA Timeline Extension - Rajasthan Highcourt issued Notice
Real estate sector in the country has suffered huge setback. Due to lockdown & after relaxation non-availability of labor has made real estate sector to come to a standstill. There are thousands of Real estate projects & Lakhs of homebuyers who are waiting for possession of their dream homes. During Lockdown situation in the country & on request of the CREDAI with Builders?developers the Central Govt has declared the COVID-19 as FORCE MAJEURE situation. In view of the same all Real estate projects which were due for completion under RERA registration have got an automatic extension of all the projects which were due for completion on or after March 19th, 2020. Thus all Real estate projects have got extension of timeline of 6 months to cover the Covid-19 lockdown situation. But in an extreme case, Rajasthan RERA Authority has extended the time line for all the projects for a period of one year irrespective of the date of completion, which even included projects which were due for compliance before the lockdown was announced. It means it included the Porjects which were supposed to be completed Prior to March 19th 2020 where in there was no FORCE MAJEURE event that has occured or stopped the Builder/Developers from completing the Real Estate project. The Extension is permitted due to the Covid-19 Lockdown impact on the business and the sitaution was treated as FORCE MAJEURE sitatuion. Thus the automatic extneison of the time lines for completion ought to have been only for the projects of which completion date was mentioned on or after 19th Mach 2020.
In a PIL filed in the Rajasthan Highcourt, has issued notice to the RERA Auhtoirty for such an illegal order being made applicable to all the projects.
