The Central Government has extended the Registration and Completion Date of Real Estate Projects under RERA.
The Finance Minister said that Adverse impact due to COVID-19 and projects stand the risk of defaulting on RERA timelines. Timelines need to be extended.
The Central Government directed to advise States/UTs and their Regulatory Authorities to the following effect:
The Finance Minister Nirmala Sitharaman also said that These measures will de-stress real estate developers and ensure completion of projects so that homebuyers are able to get delivery of their booked houses with new timelines.