Karnataka: Real estate projects get deadline extension


Considering the lockdown introduced by the state and the union governments, the Karnataka Real Estate Regulatory Authority (RERA) has given a deadline extension to all of the residential buildings throughout town. The ongoing building projects had come to a halt because of the mass exodus of migrant laborers, who wished to return to their hometowns earlier than the coronavirus outbreak.
“Due to the lockdown, the supply chains for construction material have been disrupted and the labour workforce may have migrated back to their home states. Under these circumstances, it will take some time to restart work for real estate projects across Karnataka,” the round issued by KS Latha Kumari, Secretary at Ok-RERA, acknowledged. The letter was issued on Saturday.

All RERA registered projects whose completion date (together with revised completion date) expires on or after March 15, the authority has prolonged the deadline by three months. The time restrict of all statutory compliances in accordance with the Real Estate (Regulation and Development) Act 2016 and the foundations and rules — which have been due in March, April and May — has been prolonged until June 30, 2020.

We should not have any objection. The State Government ought to have additionally been thoughtful to the home-buyers by asking the builders to not pressurise them on the month-to-month funds ­-–MS Shankar, Forum for People’s Collective Efforts

“All complaints cases listed for hearing up to April 14 before the K-RERA and the adjudicating officer have been adjourned except for the urgent cases. This is to avoid gathering of litigators, lawyers and visitors. The next date of hearing in each case will be posted on the authority’s website,” the round acknowledged.
Currently, over 3,800 projects have been registered beneath RERA. Those projects which might be both not registered with RERA or fail to satisfy its personal deadline to finish the work, entice penalty from the regulatory authority.

MS Shankar, secretary of the Forum for People’s Collective Efforts, stated the extension was truthful. “We do not have any objection. The State Government, however, should have also been considerate on the home-buyers by asking the builders not to pressurise on the monthly payments,” he stated

Leave a Reply

%d bloggers like this: