Homebuyers object to extension of project deadline

Homebuyers’ body Forum for People’s Collective Efforts (FPCE) has urged the ministry of housing and urban affairs to not allow extension in the project deadline by Maharashtra, Uttar Pradesh and Karnataka’s real estate regulators for completion of projects. The body has said that this move will create a financial burden on the flat owners. FPCE wrote a letter to Durga Shanker Mishra, secretary, ministry of housing and urban affairs asking the ministry to intervene in this matter and order these three states to roll back their decisions. FPCE stated that in Maharashtra, UP and Karnataka, the RERA authorities have extended the registration of real estate projects arbitrarily.

FPCE’s letter to the ministry said, “We are hopeful that you will show same urgency and promptness as was shown by your good office last year for giving extension to help builders. Your direct intervention is much needed as homebuyers are under tremendous stress and they also need your support at this critical juncture.” The body is asking the ministry for prompt action for the benefit of the real estate sector and home buyers.

Last year, the Union housing ministry had extended real estate projects from (zero period) of 6 months across the country. The state RERA authorities were given an option for a further extension of three months. This was done by Central Advisory Council (CAC) to provide relief to builders during the Covid pandemic.