Maharashtra RERA Grants Extension to Sanklecha Construction for Waterways Project

In a recent virtual hearing held by the Maharashtra Real Estate Regulatory Authority (MahaRERA), an extension application filed by Sanklecha Construction Private Limited, the promoter of the Waterways project, was considered. The case, registered under MAHARERA Project Registration No. P51600008638, involved the request for an extension of the project completion date. This article provides an in-depth analysis of the case, the Authority's decision, and its implications for the project and the homebuyers.

Background and Case Details

• Regulatory Case No.: 24 of 2023
• Promoter Name: Sanklecha Construction Private Limited
• Project Name: Waterways
• Registration Date: MAHARERA Registration No. P51600008638

The Waterways project comprises eight buildings, namely A1, A2, B1, B2, C1, C2, D1, and D2. At the time of the hearing, two buildings were complete, two were 75% complete, and one was 60% complete. The promoter cited delays due to environmental clearances and a stop-work order issued by the Maharashtra Pollution Control Board (MPCB) on April 9, 2015.

Extension Application and Legal Considerations

The promoter, Sanklecha Construction Private Limited, filed an extension application (No. EXT51600015058) under Section 7(3) of the Real Estate (Regulation and Development) Act, 2016. The application sought an extension from December 31, 2022, to December 31, 2025. However, it was noted that the promoter had not obtained the majority consents of the allottees (homebuyers) for the extension.

Section 7(3) of the said Act empowers the Authority to impose terms and conditions to allow the project's registration to remain in force instead of revoking it. The Authority, in considering the extension application, took into account the objectives of the Act, which aim to promote the real estate sector in an efficient and transparent manner and protect the interests of consumers.

Authority's Decision and Conditions Imposed

After careful examination of the case and considering the interests of the consumers, the Authority granted the extension to the registration of the Waterways project from December 31, 2022, to December 31, 2025. However, certain conditions were imposed to ensure the completion of the project and protect the rights of the allottees:

1. Completion of Construction: The promoter was directed to complete the remaining construction work and obtain the Occupation Certificate (OC) by December 31, 2025. The allottees were urged to cooperate with the promoter in this regard.
2. Project Milestones: The promoter was required to submit the PERT CPM / BAR charts outlining the milestones to be achieved for the project's completion within 15 days of the order. These charts were to be shared with the allottees and the landowner.
3. Monthly Progress Reports: The promoter was mandated to submit monthly progress reports to MahaRERA, the Association of Allottees (if formed), and the allottees themselves. These reports should highlight the achievements of milestones and any delays encountered.
4. Regular Updates: Upon receiving the OC, the promoter was instructed to inform MahaRERA and update the project registration webpage periodically to keep all stakeholders informed of the progress.

Conclusion

The MahaRERA's decision to grant an extension to the Waterways project reflects its commitment to promoting transparency and protecting the interests of consumers in the real estate sector. By allowing the project to continue, subject to the specified conditions, the Authority aims to ensure the efficient completion of the project and mitigate any adverse impact on the allottees.

This case serves as an important reminder of the rights and responsibilities of both promoters and allottees under the Real Estate (Regulation and Development) Act, 2016. It emphasizes the Authority's role in balancing the interests of all stakeholders and highlights the importance of adhering to regulatory requirements to maintain the credibility and transparency of the real estate industry.

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. 24 OF 2023 before the Maharashtra Real Estate Regulatory Authority

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