Project Registration Validity and Extended Timeline for Statutory compliances in view of Covid 19 Pandemic for a further period of (06) months in Telangana

General
Author: Riya Kapoor

Highlights

For all the registered projects for which completion date is expiring on or after 15th March 2021, the period of validity of registration of such projects shall further extended by another six months (i.e from 15.03.2021 to 14.09.2021
For all the registered projects for which validity of extension and revision expiring on or after 15th March 2021, the period of validity of registration of such projects shall be extended for six months i.e from 15.03.2021 to 14.09.2021.

As a measure to facilitate developers cope with the highly stressed environment arising out of forcemajure circumstances in the Real Estate Sector due to the outbreak of the Novel Corona virus (COVID-19), earlier (06) months extension of validity of Registered Projects i.e. from 15.03.2020 to 14.09.2020 was granted by the Authority vide Order No.14, Dt.13.05.2020 to the projects for which the completion date is expiring on or after 15th March 2020 and the same was further extended for another (06) months i.e from 15.09.2020 to 15.03.2021 vide Order No.15, Dt.29.09.2020 to the projects for which the completion date is expiring on or after 14th September 2020 in exercise of the powers conferred under Sections 5, 6, 34(1) of Real Estate (Regulation & Development) Act, 2016 & Rule 6 of Telangana State Real Estate (Regulation & Development) Rules, 2017. It is further observed that there is an unexpected departure of migrant labourers to their native states due to the second wave of Covid-19.

Keeping in view of the above circumstances, in order to further alleviate the critical circumstances and damage caused by the ongoing second wave of COVID19 pandemic on Real Estate sector and in exercise of the powers conferred under Sections 5, 6, 34(1) of Real Estate (Regulation and Development) Act, 2016 & Rule 6 of Real Estate (Regulation & Development) Rules, 2017 the Authority has decided that:

1. For all the registered projects for which completion date is expiring on or after 15th March 2021, the period of validity of registration of such projects shall further extended by another six months (i.e from 15.03.2021 to 14.09.2021.

2. For all the registered projects for which validity of extension and revision expiring on or after 15th March 2021, the period of validity of registration of such projects shall be extended for six months i.e from 15.03.2021 to 14.09.2021.

3. The promoters/developers/builders are not liable to pay any fee for the extension of registration of the registered projects as the Covid19 pandemic is a force majeure situation of its special kind.