West Asia crisis: Centre allows 4-mth relief for housing projects
The housing ministry issued an advisory for a four-month extension on project registrations and completion timelines. This advisory addresses delays caused by the prevailing West Asia geopolitical situation. State Real Estate Regulatory Authorities are asked to grant these extensions to eligible projects. Real estate industry bodies welcomed the move, while homebuyers expressed concerns. The decision aims to provide relief to developers facing material shortages and execution delays.
The housing ministry issued an advisory for a four-month extension on project registrations and completion timelines. This advisory addresses delays caused by the prevailing West Asia geopolitical situation. State Real Estate Regulatory Authorities are asked to grant these extensions to eligible projects. Real estate industry bodies welcomed the move, while homebuyers expressed concerns. The decision aims to provide relief to developers facing material shortages and execution delays.
