MAHARASHTRA REAL ESTATE REGULATORY AUTHORITY
Order No.:- 13/2020
Date : 02/04/2020
Subject: Revision of Project Registration Validity and Extended Timeline for Statutory Compliances, in view of Covid 19 Pandemic
Whereas, Globally, countries and governments are struggling to cope with health and economic crisis caused by sudden outbreak and rapid spread of Novel Coronavirus (COVI D-19).
Whereas, World Health Organization (WHO), On 11th March 2020, declared Novel Coronavirus (COVID-19) as a pandemic and called for the countries to take immediate actions to save human lives
Whereas, Since Mid-March 2020, Maharashtra Government by way of precaution and to stop this contagious virus from further spreading has been declaring controlled lockdowns, in the manner that partial workforce has been able to attend work / construction sites.
Further, from 24th March 2020, a complete lockdown of the entire country for Twenty-One days (i.e. until 14.04.2020) has been declared, allowing only operation of select essential services. In view of these partial lockdowns/recent complete lockdown, the Construction work in MahaRERA Registered projects has been severely affected.
Due to the aforesaid lockdowns, the supply chains for obtaining construction material have been disrupted and Labour work force may have migrated back to their home states. Due to these circumstances, Real estate projects across Maharashtra will take some time to restart work.
Recognizing this, RBI has also allowed banks to provide a three month moratorium on fixed term loans and EMI payments.
Therefore, in order to aid government efforts in controlling the damage of COVID-19 and ensure that completion of MahaRERA registered projects does not get adversely affected, it has been decided to issue this order.
Whereas while granting registration/extension under Section 5, 6, 7(3) of the Act or Rule 4(2) of Maharashtra Real Estate (Regulation and Development)(Registration of real estate projects, Registration of real estate agents, rates of interest and disclosures on website) Rules, 2017, Authority has to take into consideration reasons and circumstances that influence the duration for completion of projects. And these sections are to be read with Section 34(f) of the Act, wherein Authority is required to ensure compliance of the obligations cast upon the promoters, the allottees and real estate agents.
Therefore, it has been decided that
As approved by Authority
(Dr. Vasant Prabhu)