New Delhi: The Madhya Pradesh Real Estate Regulatory Authority (RERA) has now extended the deadline for completion of registered projects by six months in the wake of the current corona virus-led lockdown in the country.
The extension has been given for those projects whose deadline date was 15 march 2020 or later. This is going to give relief to around 3,000 projects in the state.
An official of the state RERA said that the extension is being given free of charge in the registration period of the projects. In addition, on being applied, 6 month extension will be granted in those cases of registration which ended prior to 15 March 2020 but the application for extension has not yet been made to the state RERA.
The state RERA has also extended the date for submission of all important information and documents that any promoter or agent of a project had to furnish on or after 31 March 2020 to 30 June, 2020.
Madhya Pradesh RERA has also extended the date for all buyer- seller contracts which were executed prior to 15 March 2020 but whose completion time period is due after 15 March, 2020. For these types of contracts, extension of 6 months in the previously agreed construction time period will be allowed.