Maharashtra: RERA extension order brings relief to realtors | Pune News


PUNE: The Maharashtra Real Estate Regulatory Authority (MahaRERA)’s order extending the deadline for projects with completion dates on or after April 15 by six months has come as a relief to realtors and industry watchers in the region.
“The order has brought great relief to the construction sector, which has been going through a tough phase. The second wave of Covid in Maharashtra was more serious than the first, and the construction sector went through a difficult period during the lockdown due to the rules laid down by the state government,” said Anil Pharande, president, Credai, Pune Metro.

“Large players have been able to provide additional facilities and retain a segment of the migrant workers, but smaller developers are still struggling. Also, the supply chain of construction materials remains badly impacted. This affects completion timelines,” said Anuj Puri, chairman, Anarock.
“This will help in reducing the possibility of litigations in future regarding missed deadlines,” said Vineet Goyal, managing director, Kohinoor Group.


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