In the Interest of Consumers: Maharashtra RERA Extends Deadline for Ruparel Optima Phase I

In a recent decision by the Maharashtra Real Estate Regulatory Authority (MahaRERA), an extension has been granted to Ruparel Infra & Realty Pvt. Ltd. for their project named Ruparel Optima Phase I. This article provides an in-depth analysis of the case, highlighting the key details, legal provisions, and the rationale behind the Authority's decision.

Case Details:

Case Number: Regulatory Case No. 14 of 2023

Promoter: Ruparel Infra & Realty Pvt. Ltd.

Project Name: Ruparel Optima Phase I MahaRERA

Project Registration No.: P51800013701

Extension Application: EXT51800013797

Date of Hearing: 16th May 2023

Date of Order: 18th May 2023

Background:

Ruparel Infra & Realty Pvt. Ltd. is a real estate developer and promoter as defined under Section 2(zk) of the Real Estate (Regulation and Development) Act, 2016. They had registered the project Ruparel Optima Phase I under MahaRERA with the registration number P51800013701.

The Promoter filed an extension application seeking an extension of the project under Section 7(3) of the said Act. The application was heard by the MahaRERA Authority on 16th May 2023, and the matter was reserved for order.

Key Facts:

1. Ruparel Optima Phase I is a Slum Rehabilitation Authority (SRA) redevelopment project.
2. The project consists of three buildings: Optima Phase I Building 1, 2, and 3.
3. The construction activity of the project commenced in 2019, after obtaining necessary orders from the District Collector, despite receiving the commencement certificate (CC) in 2017.
4. The project was initially registered with a completion date of 31st December 2021.
5. Due to the COVID-19 pandemic, MahaRERA had granted three previous extensions to all projects registered with them, extending the completion date to 30th December 2022.
6. The Promoter, in the extension application, requested an extension from 31st December 2022 to 30th December 2025.

Legal Analysis:

Section 7(3) of the Real Estate (Regulation and Development) Act, 2016 empowers the Authority to impose further terms and conditions instead of revoking the registration, in the interest of the allottees. In this case, the Promoter sought an extension without obtaining majority consents from the Allottees.

The Authority considered the objective of the Act, which aims to regulate and promote the real estate sector, ensure transparency, and protect the interests of consumers. Denying the extension would halt the project and negatively impact the consumers' interests. Therefore, the balance of convenience favored granting the extension.

Authority's Decision:

The MahaRERA Authority granted an extension to the registration of Ruparel Optima Phase I from 31st December 2022 to 30th December 2025. The extension was subject to certain conditions and directions to ensure completion and protect the rights of the Allottees. The Promoter was instructed to complete the remaining construction work, obtain the Occupation Certificate (OC) by the specified deadline, and provide regular progress reports to MahaRERA, the Allottees, and the landowner.

Conclusion:

The MahaRERA decision in the case of Ruparel Infra & Realty Pvt. Ltd.'s extension application for the Ruparel Optima Phase I project highlights the Authority's commitment to promoting transparency and safeguarding consumers' interests. By allowing the extension, the Authority aims to ensure efficient completion of the project while keeping the rights of the Allottees intact. This decision underscores the importance of adhering to the provisions of the Real Estate (Regulation and Development) Act, 2016.

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. 14 OF 2023 before the Maharashtra Real Estate Regulatory Authority

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