Centre's RERA Extension Amid Middle East Conflict: What It Means for Homebuyers The recent extension of project timelines for real estate projects affected by the Middle East conflict has sparked a mix of emotions among homebuyers and developers.
The move, made under Section 6 of the Real Estate (Regulation and Development) Act, 2016, allows eligible projects to extend their completion timelines by four months.
The advisory issued by the Ministry of Housing and Urban Affairs points to disruptions caused by the conflict in West Asia, which have resulted in shortages of construction materials and delayed project execution.