Realtors want 1-year extension from Rera to complete projects

JAIPUR: Realtors have requested Real Estate Regulatory Authority (Rera), Rajasthan, to grant them a one-year extension to complete their under-constructed project as the industry has come to a grinding halt due the lockdown. The Confederation of Real Estate Developers' Association of India (CREDAI) has written to chief minister Ashok Gehlot and Rera requesting the same.

The demand was sought after Rera in other states including Maharashtra , Karnataka and Uttar Pradesh extended validity of registration of projects and realty developers getting three months extension to complete their projects.

CREDAI chairman Gopal Dasgupta said, “We have expressed our helplessness to complete under-construction projects on time as remobilisation of resources will be time consuming. We have also requested the government not to impose charges including lease money, layout approval etc on developers and relaxation should be provided.”


Developers claim the extension was required as procurement of materials was affected during the lockdown and construction came to a halt. “The government has recently announced that projects, where labourers are available, can start construction. We welcome the decision. However, work will be affected as supply of many materials will take time to resume,” said Abhishek Sharma, a contractor.