{
  "id": 7485093,
  "title": "'Tareekh Pe Tareekh': 100% complete, still no keys; Inside RERA’s extension loop",
  "url": "https://urgent.news/2026/09/15/tareekh-pe-tareekh-100-complete-still-no-keys-inside-reras-extension",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-15T05:29:39.000Z",
  "source": {
    "name": "Times of India",
    "slug": "times-of-india",
    "url": "https://timesofindia.indiatimes.com/india/tareekh-pe-tareekh-100-complete-still-no-keys-inside-reras-extension-loop/articleshow/134252387.cms"
  },
  "original_language": "en",
  "account": "Housing projects often miss their promised completion dates. Developers request additional time. Regulators grant extensions. This sequence is not uncommon, as construction delays can occur for various reasons. However, when the wait becomes prolonged, the question arises: how frequently does the extra time actually lead to project completion?\n\nTo gain insight into this issue, a study was conducted focusing on Maharashtra, one of India's largest RERA (Real Estate Regulatory Authority) markets. Out of 4,237 registrations on MahaRERA's list of projects kept in abeyance after their completion dates had lapsed, as of September 10, 2026, 27.2% had at least one recorded extension history. A further 11.3% had two or more extensions, and 9.5% had three or more.\n\nThese extension histories indicate that the completion clock can continue running long after the original deadline has passed. However, the study also highlights that not every extension represents a new deadline. More than one filing can relate to the same revised date. The study reveals that the completion process often deviates from the initial projected timeline, raising concerns about the effectiveness of extension mechanisms.\n\nPromoters frequently request extensions under the force majeure route under Section 6 of the RERA statute. However, critics argue that the problem lies not in the statute itself but in the practices surrounding it. Overreliance on extensions has become commonplace, with developers assuming that they will receive additional time whenever needed. This reliance on extensions has led to a situation where projects remain in a state of limbo for extended periods, causing frustration among homebuyers.\n\nA case in point is Gajanan Plaza in Mumbai's Borivali, which was 97% complete in 2020 according to the promoter's filing. Despite this, buyers had been promised possession as early as 2012. By July 2024, 11 complainants across seven units, who had paid a combined ₹1.67 crore, were still seeking enforcement of orders in their favor. The project, originally registered for completion by December 31, 2018, sought an extension until December 2027, citing Phase 1's progress and its financial dependence on a proposed Phase 2. MahaRERA recorded an intentional default in complying with its earlier directions, further exacerbating the situation.\n\nThe study also found that extensions have become a significant part of MahaRERA's work. In 2025-26, the regulator reported 4,204 fresh registrations, 2,488 corrections, and 3,687 timeline extensions, with extensions accounting for nearly 88% of the three categories combined. While not all new projects are delayed, a substantial number of regulatory activities now involve projects whose original timelines have already been altered. The need for extensions can also impact the commercial aspect of the projects, as seen in four of the 110 projects examined by the study, where promoters explicitly mentioned the extension or extension number as necessary to continue selling unsold flats.",
  "summary": "A growing number of housing developments are running past their scheduled completion dates, leading to frequent regulatory extensions that lack a guarantee of timely delivery. MahaRERA's data highlights a substantial volume of these extensions processed annually. Developers often tout impressive completion figures while still pending crucial approvals. The oversight framework fails to secure…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}