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An “extension” typically refers to an extension of the completion date of a real estate project. In cases where the promoter of MahaRERA registered project is unable to complete the project on time may be extended by the authority on an application made by the promoter due to force majeure, in such form and on payment of such fees as may be prescribed.
“In cases, where the promoter of a MahaRERA registered project is unable to complete the project in the extended period of one year, granted under Section 6, further extension, may be given only in those cases where the concerned association of allotees resolve that instead of revoking the registration, the existing promoter be permitted to complete the project in a specific time period and an on payment of same fees as prescribed under the rules of extension.
Promoters shall submit the consents as obtained from the allottees irrespective of the number of such consents along with reasons why the required percentage of consents from allottees could not be obtained and why the application for extension should be considered without the required 51% consent.
Promoters shall submit an explanatory note setting out the grounds and reasons for delay in completion of the real estate project as well as setting out the need for grant of extension along with documents supporting such grounds and reasons. The promoter shall also state the steps that would be taken by him to complete the project.
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