Extension granted to housing projects won’t affect buyers’ rights, MahaRERA clarifies after complaints

MahaRERA Chairman Ajoy Mehta said buyers usually put in their life’s savings to buy a home and are emotional about the same. “Some people have been complaining that MahaRERA grants extension to projects despite their grievances. I would like to reiterate the obvious –MahaRERA gives extension only after strict scrutiny of all such proposals and reasonable conditions to complete the stalled project,” he said.

“MahaRERA’s aim is to ensure a residential project gets completed under any circumstance and homebuyers get their rightful shelter. Grant of extension is conditional and all the rights of homebuyers remain intact,” Mehta explained.

In case certain housing projects fail to meet the extended deadline of a year, the developer is permitted to file for additional time only after securing consent from 51 per cent of the homebuyers, the authority said. Although the homebuyers provide consent, their rights under the Real Estate (Regulation and Development) Act, 2016 do not get diluted. The aggrieved flat purchaser can continue to get a fair trial on the petition already filed, or intends to move, against the project/ developer.

In case a developer fails to secure the consent of 51 per cent of the homebuyers, MahaRERA has the right to grant conditional extension to the project which was stalled for over a year. MahaRERA’s only objective is to protect the homebuyer’s interest. Extensions are given after examining the reasons for delay and the efforts that the developer will put in to complete the project during the extended time. The extension is given after due hearing and by imposing conditions to ensure the project’s completion, as per the authority.