West Asia crisis: Homebuyers question 4-month RERA project timeline extension, seek equal relief

The Union Housing and Urban Affairs Ministry on July 31 advised state RERAs to grant a four-month extension to completion timelines for housing projects due on or after February 28.

Homebuyers, represented by the Forum For People's Collective Efforts, argue that while developers get relief, thousands of buyers waiting for possession receive no comparable protection.

FPCE president Abhay Upadhyay criticizes the advisory for setting a precedent, stating that foreign conflicts may be treated as force majeure for blanket extensions without demonstrated shortages of key inputs.

The FPCE suggests developers should include reasonable cushions for supply-chain issues when fixing timelines.