Out of the seven projects granted extensions, six are situated in the Mumbai Metropolitan Region, while the remaining one is located in Pune and is nearing completion. Notably, three of these projects are commercial in nature, while four fall under the residential category.

The duration of these extensions varies between six to 18 months, contingent upon the construction stage of each project. MahaRERA has sanctioned these extensions after evaluating sufficient evidence to suggest that these projects are likely to be completed within the extended timelines.

MahaRERA emphasized that these extensions have been granted in the best interests of property buyers as well as the overall project. In certain instances, projects have already been concluded, but developers have been unable to secure an occupation certificate (OC) due to the lapse of their RERA registration.

This development follows the precedent set in March and May 2023, where 20 other real estate projects in Maharashtra were similarly granted extensions. These decisions were executed based on the MahaRERA’s policy update from December 2022, which allowed developers to request extensions without the mandatory consensus from 51 percent of homebuyers.

The extensions were meticulously evaluated and granted on a case-by-case basis, after developers submitted applications under section 7 (3) of the RERA Act. This move by MahaRERA reflects their commitment to balancing the interests of both developers and homebuyers, particularly in light of the challenges faced by the real estate sector in recent times.