MahaRERA Supports Completion of Shree Siddhivinayak Infrastructure & Realty's Project, Extends Deadline

The Maharashtra Real Estate Regulatory Authority (MahaRERA) recently issued an order regarding an extension application for the Ruparel Elara project, filed by Shree Siddhivinayak Infrastructure & Realty. The case, registered as Regulatory Case No. 15 of 2023, was brought before MahaRERA for consideration. In this article, we will delve into the details of the case, the arguments presented, and the final order issued by MahaRERA.

Background and Project Details:

Shree Siddhivinayak Infrastructure & Realty, the promoter and developer, is responsible for the development of the Ruparel Elara project. The project was registered under Section 5 of the Real Estate (Regulation and Development) Act, 2016, with the MAHARERA Project Registration No. P51800014328. Ruparel Elara is a redevelopment project under the Slum Rehabilitation Authority (SRA) and consists of a single building.

Extension Application and Hearing:

On February 4, 2023, Shree Siddhivinayak Infrastructure & Realty filed an extension application (No. EXT51800013792) under Section 7(3) of the Real Estate Act, seeking an extension of the project. The case was heard by MahaRERA on May 16, 2023. During the hearing, it was brought to the Authority's attention that the construction work had been completed, and the developer was awaiting the Occupation Certificate (OC). The developer sought an extension until December 30, 2023, citing delays caused by the project being an SRA project.

Considerations and Decision:

Before reaching a decision, MahaRERA reviewed the registration details and previous extensions granted to the project. The developer had initially submitted the date of completion as December 31, 2019. However, subsequent extensions were granted due to the impact of the Covid-19 pandemic. These extensions, granted to all projects registered with MahaRERA under Notifications/Orders Nos. 13 and 14 dated April 2, 2020, and May 18, 2020, respectively, extended the completion date to December 30, 2020.

The developer informed MahaRERA that the project had faced delays due to pending litigations before the Hon'ble High Court and Supreme Court, which have now concluded. Consequently, the construction activity has resumed. Considering the objectives of the Real Estate Act, which aim to promote the real estate sector in an efficient and transparent manner while protecting the interests of consumers, MahaRERA decided to grant the extension sought by the developer.

Conditions and Directions:

In granting the extension, MahaRERA imposed certain conditions and directions to ensure the completion of the project and safeguard the rights of the Allottees. These conditions are as follows:

1. The developer must complete the balance construction work and obtain the Occupation Certificate (OC) by December 30, 2023. The cooperation of the Allottees is expected during this phase, while their rights under the Real Estate Act remain intact.
2. Within 15 days of the order, the developer must submit PERT CPM/BAR charts outlining the milestones for the project's completion. These charts should also be shared with the Allottees and the landowner.
3. Monthly progress reports, detailing the achievements of milestones or any delays, must be submitted to MahaRERA, the Association of Allottees (if formed), and the Allottees themselves.
4. Once the OC is obtained, the developer must inform MahaRERA and regularly update the progress on the project's registration webpage.

Conclusion:

In the case of the extension application filed by Shree Siddhivinayak Infrastructure & Realty for the Ruparel Elara project, MahaRERA carefully considered the circumstances and decided to grant the requested extension. The Authority acknowledged the completion of construction work and the impact of pending litigations on project delays. By granting the extension, MahaRERA aims to ensure the efficient completion of the project while protecting the rights and interests of the Allottees. The developer must adhere to the conditions and directions set forth by MahaRERA, ultimately working towards obtaining the Occupation Certificate by December 30, 2023.

Note: The information provided in this article about Maharashtra Real Estate Regulatory Authority (MahaRERA) is for informational purposes only. It is not intended as legal or professional advice and readers should consult qualified professionals for advice specific to their circumstances. The information provided in this article is based on the REGULATORY CASE NO. 15 OF 2023 before the Maharashtra Real Estate Regulatory Authority

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