The Rajasthan Real Estate Regulatory Authority (RERA) has given several reliefs to the builders as the industry is facing difficulty to recover after pandemic.
The RERA issued an order giving relaxation to the builders on getting the registration of the ongoing projects which was valid till March 31, 2022. This period has now been extended by RERA for one year till March 31, 2023.
As per the orders, the ongoing projects, which have not been registered by the builders till now, can be registered by depositing four times the amount of registration fee as penalty and two times the amount of registration fee as standard fee in addition to registration fee.
The last date for registration with this penalty and standard fee was March 31, 2022 which has now been extended to March 2023.
Similarly, in order to give extension of six months to the projects which were not completed on time, it was decided to give concession on 50% of the registration fee. The last date to deposit extension fee was March 31, 2022 which has now been extended to March 2023.
After March 2023, extension will be given in this case by charging 100% of the registration amount. As price escalation of construction materials has derailed the real estate industry, many developers in the state have requested another extension from the RERA-R.
