Additional Requirements For Extension Of Validity Of Project Registration

In terms of Section 7(3) of the Real Estate (Regulation and Development) Act, 2016 ("Act"), the Maharashtra Real Estate Regulatory Authority ("MahaRERA") may, in the interest of the allottees, instead of revoking registration of a project under the Act, permit the promoter to continue with the project subject to such terms and conditions as it may deem fit which shall be binding upon the promoter.

MahaRERA had by its Order No. 40/2022 dated December 27, 2022 ("Order") issued directions for seeking extension of validity of project registration. Thereafter, MahaRERA has by its supplementary order bearing Order No. 40A/2023 dated May 15, 2023 ("Supplementary Order"), provided for additional documents to be submitted by the promoter, in Annexure A annexed to the Supplementary Order.