Karnataka RERA pushes real estate projects deadline by three months
Supply chains for construction material have been disrupted
The Karnataka Real Estate Regulatory Authority (RERA) has given a deadline extension to all residential buildings across the city of Bengaluru.
Due to the lockdown, the supply chains for construction material have been disrupted and labour workforce may have migrated back to their home states. Under these circumstances, it will take some time to restart work for real estate projects across Karnataka.
All RERA registered projects whose completion date (including revised completion date) expires on or after 15 March 2020, the authority has extended the deadline by three months.
The time limit of all statutory compliances in accordance with the Real Estate (Regulation and Development) Act 2016 and the rules and regulations -- which were due in March, April and May 2020 -- has been extended till 30 June 2020.