MP RERA gives six-month extension for real estate projects
In a relief to the real estate
sector in Madhya Pradesh amid the ongoing coronavirus-induced lockdown, the state Real Estate Regulatory Authority (RERA) has extended by six months the completion deadline of registered projects that were to be completed on or after March 15.
The decision will benefit about 3,000 projects across the state, the RERA said.
The decision was taken due to the adverse impact of the lockdown on the real estate sector, a state Public Relations Department official said on Thursday.
"The Authority has decided that the registration of the projects, which were to be completed as on March 15 and later should be extended for six months from the expiry (of registration) date," the official said.
He said the additional extension of six months is being given free of cost in the registration period in the projects, for which registration is under consideration of RERA.
In addition, on being applied, six-month extension will be granted in cases of the ...