Gujarat Real Estate Regulatory Authority (Gujarat) has extended by six months the completion deadline for real estate projects in the state. This automatic extension will be granted to those projects which have their scheduled completion or extended completion date on or after March 25, 2020.
“The completion date or extended completion date is hereby automatically (without application) extended by 6 months due to outbreak of Covid-19,” the secretary Gujarat RERA said in a recent order.
The relief follows Central Advisory Council (CAC)’s recommendations to states and Union territories to extend real estate project completion deadline by invoking ‘force majeure’ under Section 6 of the RERA Act.
While announcing the first tranche of economic stimulus few days ago, Union finance minister Nirmala Sitharaman had stated that states and UTs will be advised to extend registration and completion date for projects registered under RERA.
Meanwhile, the relief granted last month will also continue to be available to realtors beyond the automatic extension. Among other things, the state regulatory authority had on April 13 allowed developers an one-time extension in completion date for projects registered on and between April 1, 2020 and March 31, 2021.
According to Gujarat RERA, the cut-off date for the relief (announced on April 13) now stands revised from March 31, 2021 to September 30, 2021.
Gujarat RERA has also provided this six-month extension to those projects which have end date before March 25 and have applied for extension. Such projects will get the six-month relief in addition to the extension that would normally be granted on processing the application. Those projects which have not yet made an application for extension are also allowed to avail of this six-month relief provided they make an application for extension with necessary fee.
The extension will also apply to all buyer-seller agreements (AFS) entered into prior to March 25, 2020 for which the project completion date is on or after March 25.
“Promoter shall extend similar extension in payment due date to allottee, when requested for, where these due dates are between March 25 and September 30, 2020,” the authority order further stated.
