Coronavirus impact | UP RERA extends deadline of real estate projects by three months

After MahaRERA and Karnataka RERA, UP RERA on April 14 extended the validity period of registration of real estate projects in the state by three months on account of COVID-19.

“In view of the dislocation of the construction activity under the real estate projects, CREDAI and NAREDCO have requested the Authority to extend the completion date of the projects as done by some other state RERAs,” UP RERA said in a statement.

In view of the slow pace of construction work due to the need for social distancing and movement restrictions and stoppage of the work following the national lockdown in March, the Authority has decided to extend by three months the date of completion of the projects with the date of completion between March 15, 2020 and December 31, 2020, it said.

The revised registration certificate of such projects will be issued separately and send to the concern promoters, the authority said in a statement.

Source: https://www.moneycontrol.com/news/business/real-estate/coronavirus-impact-up-rera-extends-deadline-of-real-estate-projects-by-three-months-5146061.html

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