RERA EXTENSION

Project extension applications are of two types, Extension under section 6 and Extension under section 7(3) with the consent of allottees

Extension under section 6

Under this category promoter can apply for project extension for a maximum period of 1 year. Provided that the Authority may in reasonable circumstances, without default on the part of the promoter, based on the facts of each case, and for reasons to be recorded in writing, extend the registration granted to a project for such time as it considers necessary for period not exceeding 1 year

Extension Application under 7(3)

Where the promoter of a MahaRERA registered project is unable to complete the project in the extended time of one year, granted under Section 6, further extension may be granted if concerned association of allottees or society or cooperative society or a federation or any other body by whatever name called, consisting of a majority of allottees resolve that instead of revoking the registration, the existing promoter be permitted to complete the project in a specific time period and on payment of same fees as prescribed under the Rules for extension. Promoter shall submit Consent of allottees in Format B as specified in MahaRERA (MahaRERA circular no. 28/2021.)

Our Process for RERA Extensions:

1.Initial Consultation:

We assess your project’s status, reasons for delay, and eligibility for an extension.

2.Documentation:

Our team prepares and verifies all necessary documents, including project details, financial statements, and delay justifications. 

3.Application Submission:

RERAFirst ensures the application is correct and complete in all aspects which ensures timely approval of application 

4.Monitoring and Follow Up:

We act as your representative, communicating with RERA officials to address queries and ensure smooth processing.   

5.Post-Approval Support:

Once approved, we assist in updating project timelines and ensuring ongoing compliance with RERA norms.

Documents Checklist – RERA Project Registration   

1.Application for Extension –

An application is to be made to MAHARERA authority for extension underlying the revised completion date 

2.Consent of Allottee’s

Written consent of more than 51% of allottees’s is to be submitted along with application     

3.PERT Chart

Provides a clear overview of the project timeline andtimeframe in which project will be completed 

4.Quaterly Progress Report (QPR)

Updation of QPR upto the date of extension

5.Notarized Form B –

A notarized Form B stating the revised date of completion of project

Implications of Not Securing the Extension

1.Restriction on sale of Units

Without an extension, the registration expires, resulting in the sub-registrar refusing to register the sale deed of the units.

2.Freeze of Bank Accounts

       Upon lapse of registration MAHARERA authority may direct bank to freeze bank accounts of   developer

3.Impact on Project Funding

Banks and financial institutions may become reluctant to finance projects for developers who have a history of non-compliance with RERA guidelines 

4.Restriction on Publicity and Marketing

Projects without active RERA registration are prohibited from promoting and advertising their projects. 

5.Penalties and Fines

MAHARERA authority may imposes significant fines on developers who miss project deadlines without obtaining an extension, potentially impacting the project’s finances and the developer’s business 

6.Status of Project    

Status of project on MAHARERA portal may be changed to lapsed for not seeking extension

The consequences of not obtaining a RERA extension are severe for developers, ranging from legal penalties and fines to reputational damage and loss of business opportunities. Developers risk significant financial costs, legal complications, and long-term damage to their business if they fail to comply with RERA regulations by not securing an extension for project delays. It is crucial for developers to seek extensions promptly to ensure compliance and avoid these negative consequences