Home buyers’ body seeks withdrawal of extended construction timelines

Home buyers’ body seeks withdrawal of extended construction timelines

New Delhi, Sep 6 (IANS) The Forum for People’s Collective Efforts (FPCE) has written to the Ministry of Housing and Urban Affairs seeking withdrawal of timeline extensions for housing construction.

In a letter to the ministry, the FPCE said that RERA authorities are randomly giving blanket extensions even when there was no work stoppage nor complete lockdown announced either by the Centre or by any state government.

“The states of Maharashtra, UP, and Karnataka have recklessly, in blatant disregard to home buyer rights, have given another extension to the real estate projects under the garb of Covid-19’s second wave,” it said.

On August 6, the Maharashtra RERA extended timelines for project completion by 6 months, on August 18, the UP RERA extended timelines by nine months, and on August 27, the Karnataka RERA extended timelinee by 6 months.

“The entire 2nd wave lasted for merely 2/3 months while extension has been granted for 6/9 months which defeats any rationale or logic and is beyond comprehension of any sane mind. It is also beyond our understanding that how such decisions can be taken by RERA authorities which are one-sided, detrimental to one stakeholder, arbitrary and without any logical or legal basis,” the FPCE said.

As per the home buyers’ body, the direct repercussion of such extension will have to be necessarily and directly faced by home buyers whose scheduled handover will now get delayed for more than a year, “now assuming extended timeline is honoured, which also is certainly a very high hope considering the reputation of builders in our country”.

“Home buyers will have to continue paying EMI and rent for extended periods despite facing acute hardship due to job losses and pay cuts. Home buyer will also not be able to get any corresponding relief either in the form of any additional tax relief or relief from payment of EMI or rent,” it said, adding that such extension is bound to create havoc and unimaginable financial stress on the home buyers.

 

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