What if the RERA Registration of Project has been expired?
The registration expiry will arise only when the project is incomplete past the completion/possession date. Such a Project will be designated as a lapsed project.
Unless the Promoter applies for an extension, MahaRERA will take appropriate measures to make sure the Project is completed.
Either, sanctioning authority (like Municipal Corporation/Regional Development Authorities), or Buyers association or otherwise, may complete the Project protecting the interests of Buyers.
The existing Promoter will always have the option to transfer the development rights to another Promoter (aka Third-Party Transfer) before the expiry.
Looking for more such advice? Or, seeking RERA consultation for your project, want to register your project or comply RERA by quarterly updating your project? Contact us today!
The information relayed in this blog should not be construed as legal advice. The applicability of information varies on the basis of the circumstances of each case. But feel free to call us for similar advice.
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