Mumbai: In yet another relief to the ailing realty sector, the Maharashtra government on Thursday extended the validity for all the building permissions, no objection certificates, completion certificates for 9 months. Further, the government has extended all the compliance mentioned in the work sanction letter and has extended the validity by 9 months. There will be no interest on any instalments that will be charged for this 9 months.
The urban development department joint secretary Shrirang Landge on Thursday issued notification based on the provisions of the Maharashtra Regional and Town Planning Act, 1966. The department has instructed the municipal corporations, nagar panchayats and municipalities to take necessary decisions.
These extensions have been granted as per the advisory issued on May 28 by the Union Ministry of Housing and Urban Affairs. The ministry had said that extension was required as following the coronavirus lockdown the reverse migration of labourers to their native places and break in supply chain in construction material have adversely impacted the construction activities of real estate projects including residential, commercial, institutional and industrial across the country.
The Home Ministry had issued an advisory on May 13, 2020, for extension of registration of real estate projects for which completion date or revised completion date of extended completion date as per registration expires on or after March 25, 2020, and to extend the said date automatically by six months by invoking ‘’Force Majeure’’ clause under the provisions of Real Estate (Regulation and Development) Act, 2016.
The state government’s move comes days after it has decided not to revise the ready reckoner rates until further orders but continue the rates applicable for 2019-20. The government in the annual budget for 2020-21 had announced 1 per cent stamp duty concession for the next two years and other related charges applicable on registration of documents in the areas falling under the Mumbai Metropolitan Region Development Authority (MMRDA) and municipal corporations of Pune, Pimpri-Chinchwad and Nagpur.
