RERA Order of Extension, Realtors at Relief in Maharashtra
MahaRERA’s order of extension has provided relief to many of the developers, while there are still some that are not at ease. The recent order extending the deadline for projects with completion dates on or after 15 by six months has come as a surprise to realtors and industry watchers in the region. The major disruption was due to the blockage created in the supply of the key raw materials, such as steel and cement, which has affected the construction industry.
According to Anil Pharande, President, Credai Pune Metro, this order has brought great relief to the construction sector, which has been going through a tough phase. The second wave of the covid in Maharashtra was more serious than the first, and the construction sector went through a difficult period during the lockdown due to the rules laid down by the state government.
According to top realtors large players have been able to provide additional facilities and retain a segment of the migrant workers, but smaller developers are still struggling. Also, the supply chain of construction materials remains badly impacted.
