RERA Denies Extension To Builders Who Haven't Registered Yet
October 05, 2017
Developers who haven't registered their ongoing projects with the Maha RERA are unlikely to get a fourth chance to do so. Even as the deadline to register those ended two months ago, the authority has accepted over 2,500 registration applications but not before levying a penalty.
"As over 13,300 projects have already been registered, there is a dip in the number of applications since the last extension. Initially, we got many applications but since September, the number has been about a few hundred. Thus, we are not willing to give any more extensions," said a RERA official.
Source : freepik.com
Dr. Vijay Satbir Singh, member of MahaRERA, said, "We are not planning to give any further extension to builders of ongoing projects. Only new projects will be allowed to submit their application for registration now. In case applications are received in October, we will take a call on what to be done for them."
While the act disallows any extension for ongoing projects, there is a provision to penalize developers for defaulting the norms. Maha RERA officials said the extensions were granted only after using this. RERA gave three extensions after its original July 31 deadline, and charged differing penalties for every application that came hence. A penalty of Rs 50,000 was charged on applications till August 2, then R1 lakh for those that came till August 31 and Rs 2 lakh or a penalty equivalent to the registration fee - whichever is more - till September 30, when the final deadline ended.
Maha RERA issued 13,300 certificates in September, another 300 applications submitted before September 30 are pending to be registered.
To Real Estate Projects in Thane or Know More about Builders and Developers in Thane Contact Us at 022 2580 6868
Source: mid-day.com