Maharashtra RERA Grants Fourth Extension To Adhiraj Constructions To Complete Project

The Maharashtra Real Estate Regulatory Authority (MahaRERA) bench, comprising of Ajoy Mehta (Chairperson), granted a one-and-a-half-year extension to Adhiraj Constructions Private Limited to complete its three towers, namely Tower 1A, 1B, and 3B, which are part of the Adhiraj Samyama project, for the fourth time. Previous three extensions were granted by MahaRERA on the grounds of COVID-19. Background Facts The builder, who is the promoter of Adhiraj Samyama Tower 1A, 1B & 3B, filed an extension application on 29.12.2023 to seek an extension for the said project. The completion date of the project was initially set for 31.12.2021, however, it was extended to 30.12.2023 by MahaRERA due to COVID-19. The builder contended that the project was delayed due to the COVID-19 pandemic, shortages of labor and raw materials, delays in payments by homebuyers, disputes with contractors, changes in project financing, delays in pipelines, and changes in planning authority. Thus, the builder filed an extension application under Section 7(3) before MahaRERA to seek an extension from 31.12.2023 to 30.06.2025. RERA Order MahaRERA extended the project from 31.12.2023 to 30.06.2025, holding that the project is 80% complete, and in this situation, revoking the registration of the project would be detrimental to the interests of homebuyers. MahaRERA placed reliance on Section 7(3) RERA 2016 which is read as follows: Section 7: Revocation of registration (3) The Authority may, instead of revoking the registration under sub-section (1), permit it to remain in force subject to such further terms and conditions as it thinks fit to impose in the interest of the allottees, and any such terms and conditions so imposed shall be binding upon the promoter. MahaRERA further held that the legislative intent of RERA is to promote the real estate sector in an efficient and transparent manner and to protect the interests of homebuyers. Thus, an extension needs to be granted to ensure that the completion of the said project is not interrupted. Additionally, MahaRERA has imposed the following conditions on the builder. These include completing construction work and obtaining an Occupancy Certificate (OC), with cooperation from homebuyers to safeguard their rights. The builder is required to submit charts outlining project milestones within 15 days and furnish monthly progress reports to both MahaRERA and homebuyers. Furthermore, upon receiving part/full OC, the builder must ensure timely updates to MahaRERA and the project registration webpage. In conclusion, MahaRERA extended the completion date of the project from 31.12.2023 to 30.06.2025, with conditions that consider the interests of the homebuyer under Section 7(3) of RERA 2016.Promoter Name : Adhiraj Constructions Private Limited Project Name : Adhiraj Samyama Tower 1A, 1B & 3B Citation: Regulatory Case No. 171,172, & 173 Of 2024 Click Here To Read/Download Order

Maharashtra RERA Grants Fourth Extension To Adhiraj Constructions To Complete Project

Aryan Raj

Tags