Following complaints by homebuyers over the concern that allowing additional time for builders to complete a housing project might affect their rights, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has clarified that it permits deadline extensions only to protect the homebuyer’s interest and with certain conditions imposed on the developer.
In a statement issued on Monday, the real estate authority said that even while the project’s deadline is extended, a homebuyer’s rights remain intact. If a flat buyer does not get possession as per the timeline laid down, they can move MahaRERA, as per the regulations. MahaRERA Chairman Ajoy Mehta said buyers usually put in their life’s savings to buy a home and are emotional about the same. “Some people have been complaining that MahaRERA grants extension to projects despite their grievances. I would like to reiterate the obvious –MahaRERA gives extension only after strict scrutiny of all such proposals and reasonable conditions to complete the stalled project,” he said.
https://indianexpress.com/article/cities/mumbai/extension-granted-to-housing-projects-wont-affect-buyers-rights-maharera-clarifies-after-complaints-9194706/
Source: The Indian Express
