Brooklyn Park Phase II Project Awaits Extension Approval from MahaRERA

Brooklyn Park Phase II, a residential project by K Raheja Corp and Gera Developments, is eagerly waiting for the approval of its extension from Maharashtra Real Estate Regulatory Authority (MahaRERA). The project is currently in a state of limbo, waiting for the extension approval from Maharashtra Real Estate Regulatory Authority (MahaRERA).

This delay has caused anxiety among the investors and potential buyers of the project, who are eagerly waiting for its completion. In this article, we will discuss the current status of the Brooklyn Park Phase II Project and the reasons behind the delay in its approval. We will also discuss the potential impact of this delay on the real estate market

About Brooklyn Park Phase II

The project was launched in 2018 and is located in the prime area of Hinjewadi, Pune. It is a premium gated community that offers luxurious 2BHK, 3BHK, and 4BHK apartments.

The project is spread over an area of 7.5 acres and consists of seven towers with 21 floors each. It has more than 500 units with a price range of Rs. 77.96 lakhs to Rs. 1.73 crores. The project is equipped with modern amenities like a swimming pool, gymnasium, clubhouse, jogging track, and children's play area, to name a few.

Launch and Possession Date

The Phase II of Brooklyn Park was launched in 2019, and the possession was expected in 2022. However, due to the COVID-19 pandemic, the project faced a delay of six months. The new possession date was set for December 2022, but the developers applied for an extension of the project completion date due to the shortage of labor and construction material.

Extension Approval Delay

As per the MahaRERA norms, the developers can apply for an extension of the project completion date if they face any unforeseen circumstances. The developers of Brooklyn Park Phase II had applied for an extension of six months, which is yet to be approved by the regulatory authority.

Homebuyers' Worry and Concerns

The delay in the approval of the extension has left the homebuyers of Brooklyn Park Phase II worried. They have invested their hard-earned money in the project and are now waiting for the possession. The delay in the possession is causing financial stress and mental agony to the homebuyers.

Developers' Assurance

The developers of Brooklyn Park Phase II have assured the homebuyers that they are doing everything possible to complete the project on time. They are working with the contractors and laborers to ensure timely completion of the project. They have also requested the regulatory authority to approve the extension at the earliest.

In conclusion, the delay in the approval of the extension for Brooklyn Park Phase II is causing anxiety and distress to the homebuyers. The developers are making efforts to complete the project on time, but the shortage of labor and construction material due to the pandemic has caused delays. The homebuyers are hoping that the MahaRERA will approve the extension soon, and they will get possession of their dream home without any further delay.

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.

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