If you have booked a home in an under-construction project and are waiting for possession, this update is important for you.
The central government has recommended extending the completion deadline of some RERA-registered housing projects by up to four months.
The move is expected to give builders extra time to complete pending projects. However, it could also mean that many homebuyers will have to wait longer to receive the keys to their new homes.
Why is the government extending the deadline?
According to the government, ongoing tensions in West Asia and disruptions in global supply chains have slowed down construction work across the country.
Several challenges have affected the real estate sector, including:
Shortage of construction materials and equipment.
Higher transport and freight costs.
Delays in the supply of cement, steel, aluminium, and other essential materials.
Considering these as exceptional circumstances, the government has recommended giving developers additional time to complete eligible projects.
Which RERA projects are eligible?
The proposed relief will apply to RERA-registered projects:
Whose original completion deadline is February 28, 2026, or later.
Whose previously extended deadline expires on or after February 28, 2026.
Eligible projects may receive a one-time extension of up to four months.
Will builders need to apply?
No. The central government has advised state RERA authorities to issue a common order for eligible projects.
This means builders may not have to submit separate applications, making the extension process simpler and faster.
What does this mean for homebuyers?
The extension could delay possession for many buyers by a few months.
As a result, people planning a housewarming ceremony, moving out of rented accommodation, or arranging finances based on the expected possession date may have to revise their plans.
Impact on the real estate sector
Experts believe that if global tensions and supply chain issues continue, the prices of construction materials such as cement, steel, copper, and aluminium could rise further.
Higher costs may increase the financial burden on developers and slow down construction, which could delay the delivery of millions of homes that are still under construction.
