COVID-19: Rajasthan relaxes regulations for real estate developers

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COVID-19: Rajasthan relaxes regulations for real estate developers
Jaipur, May 13 () Providing relief to real estate developers amidst the COVID-19 pandemic, the Rajasthan government on Wednesday announced several relaxation in regulations.

The Rajasthan Real Estate Regulatory Authority issued an order extending deadline of projects having valid RERA registration before March 19, 2020 by one year.

It also waived the fees for this extended period.

However, the standard fee prescribed by the order issued by RERA on August 16, 2019, will have to be paid, a statement said.

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The certificate for extended period for completion of project will be made available online.

Similarly, developers have also been exempted from displaying quarterly report of projects on the regulator's website till March 2021.

Stringent action against developers for implementation of refund orders will not be taken till March 31, 2021, it said.

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Developers will be able to divide their registered projects into more than one phase and make such amendments in the building plan so that the interests of the allottees is not be adversely affected.

All such changes will also require the consent of a minimum of two-thirds of the allottees, the statement said. AG RVK
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