The Kerala Real Estate Regulatory Authority (K-RERA) has decided to give an extension of up to six months for completing real estate projects hindered by the second wave of the COVID-19 pandemic.
This is not intended as a blanket extension, authority officials explained. Developers who require it should apply in the relevant forms annexed to the Kerala Real Estate (Regulation and Development) Rules, 2018.
The extension, if needed, will be applicable to projects for which the date of completion as per the registration certificate expires on or after April 1, 2021. The authority has also decided to waive the fee for the extension.
Treating the current scenario as a force majeure event, the authority decided to offer the extension, which will not exceed six months, in response to requests from builders.
“The authority has taken cognizance of the adverse effects of second wave of COVID- l9 pandemic and the consequent lockdown declared in the State and resolved to treat this as an event of ‘force majeure’ as per the above provision of the Act (The Real Estate (Regulation and Development) Act, 2016),” it noted in a July 19 order.
This is the second extension given by the authority for the date of completion of projects in response to the pandemic. During the first wave last year, the authority had given a six-month extension. Section 6 of the Act passed by the Parliament notes that extensions should not exceed a period of one year.
The Act requires real estate projects to be registered with the State-level RERA. To date, 582 projects have been registered.
K-RERA has warned the public against entering into agreements for real estate projects that are not registered with the authority. Authority chairman P.H. Kurian said notices have been issued to promoters who have advertised their projects without registering with the authority. He urged the public to visit rera.kerala.gov.in to check whether the projects are registered or not.
The authority can impose fines ranging from ₹10,000 a day to 5% of the project cost from builders who advertise unregistered projects in mainstream or social media, he said.