BEFORE THE MAHARASHTRA REAL ESTATE REGULATORY AUTHORITY, MUMBAI HEARING IN HYBRID MODE AS PER MAHARERA CIRCULAR NO.: 48/2025 REGULATORY CASE NO. 399 OF 2025 PROMOTER NAME PURAVANKARA LIMITED PROJECT NAME PURVA ASPIRE MAHARERA PROJECT REGISTRATION NO. P52100017650 ORDER (In an extension application) September 09th, 2025 (Date of hearing –28.08.2025-matter reserved for order) Coram: Manoj Saunik, Chairperson, MahaRERA Mr. Jatin Ujjini is present through VC for the applicant promoter. 1. The applicant is the promoter/developer within the meaning of Section 2(zk) of the Real Estate (Regulation and Development) Act, 2016 (“Act”) of Real Estate Regulatory Authority (“RERA”) and had registered the project “PURVA ASPIRE” under section 5 of the Act bearing MAHARERA Registration No. P52100017650 (hereinafter referred to as the “Project”). 2. The promoter has filed an extension application no. EA16072502087 on 16.07.2025 (hereinafter referred to as “extension application”) seeking for extension of the project under section 7(3) of the Act, which was heard by this Authority on 28.08.2025, wherein the following roznama was recorded: “Heard the authorized representative of the applicant promoter on the extension application. He submits that approximately 60% to 65% of the construction work has been completed and seeks extension of time for project completion till 30.09.2026. Matter is reserved for orders.” 3. Before moving ahead, the Authority notes the registration details already on record. The promoter, while seeking registration of the project had submitted the date of completion as 31.12.2022. The authority granted extension of 9 months under section 6, whereby the date of completion was extended upto Page 1 of 5 30.09.2023. Further, the Authority granted second extension to the project under section 7(3) for two years from 30.09.2023 to 30.09.2025. The promoter has applied for extension vide the extension application herein under section 7(3) of the Act for the period from 01.10.2025 to 30.09.2026. 4. Thus, the issue before this Authority is regarding grant of extension under Section 7(3) of the Act. In this regard, it is pertinent to note that the promoter this time has not been able to obtain 51% majority consent of the allottees of the project. In this context, the relevant extract of Section 7(3) is reproduced hereinbelow for ease of reference: “7 (3) The Authority may, instead of revoking the registration under sub-section (1), permit it to remain in force subject to such further terms and conditions as it thinks fit to impose in the interest of the allottees, and any such terms and conditions so imposed shall be binding upon the promoter.” Section 7(3) provides that instead of revoking the registration, this Authority can impose certain terms and conditions as it thinks fit to let the registration remain in force. 5. The following submissions of the promoter are noteworthy before examining the issue of grant of extension under Section 7(3) of the Act: A. Outbreak of Covid-19: The project was started prior to outbreak of COVID-19, which had an impact on real estate project for nearly 2 years, from March 2020 to February 2022 which has severely impacted the availability of labour and disrupted the supply chain, causing significant delays in the construction activities. This has resulted in slow progress in construction. However, we are trying to complete the project at the earliest. B. The cost of balance work to complete the construction is Rs. 1,17,60,51,821/- which can be easily met out of receivable from sold units of Rs. 51,48,61,903/- and the fair value of unsold units of Rs. 91,22,09,957/- totalling to Rs. 1,42,70,71,860/-. The project can be completed with positive feasibility and cash flow. Annexed herewith the application Engineer certificate certifying that balance work can be Page 2 of 5 completed on or before 30.09.2026. Annexed herewith Form 3 as on 31.03.2025 C. With regard to Building/ Wing E - Structural works including excavation, construction of one basement with plinth, two podium levels, and fifteen slabs with the superstructure have been fully completed. Internal finishing works comprising internal walls, plastering, flooring, and installation of doors and windows within the flats/premises have progressed to 32% completion. Staircase, lift well, and lobby works at each floor level, including water tank installations, stand at 42% completion. External development works such as external plumbing, plaster, elevation treatment, and terrace waterproofing have reached 25% completion. Sanitary fittings and electrical works within flats are yet to commence, while common area installations, firefighting systems, water pumps, lift installations, and compliance works are at 18% completion. D. With regard to Wing F Structural works comprising excavation, one basement with plinth, two podiums, and fifteen slabs with the superstructure have been fully completed. Internal finishing works, including internal walls, plastering, flooring, and fitting of doors and windows within flats/premises, are at 23% completion. Staircase, lift well, and lobby works including overhead and underground water tanks have progressed to 42%. External development works covering external plumbing, plaster, elevation, and terrace waterproofing have achieved 12% completion. Sanitary fittings and electrical works within flats are yet to start, while installations for common areas, lifts, firefighting systems, water pumps, and compliance-related works are at 18% completion. E. There are a total of 236 units in the project, out of which 122 have been sold/booked. As per RERA provisions, consent from 51% of the allottees is required for extension of project timelines. The project is located in a remote area, which has significantly impacted our ability to obtain the required percentage of`consents from the allottees. All units in the project have been sold to individual allottees, many of whom reside in different cities or regions, making collective communication and Page 3 of 5 coordination extremely challenging. However, the logistical difficulties in securing physical signatures and individually convincing each allottee have proven to be a time-consuming process. Additionally, the situation has been further compounded by the fact that our agreement is currently withheld due to the pending extension, adding to the concerns of the allottees. 6. In view of the above submission of the promoter, the issue of the extension under Section 7(3) of the Act, as sought by the promoter without 51% consent of the allottees, needs to be examined considering the above-mentioned fact. The Authority would like to bring on record the statements of objects and reasons of the Act, which are reproduced hereinbelow for ease of reference: “An Act to establish the Real Estate Regulatory Authority for regulation and promotion of the real estate sector and to ensure sale of plot, apartment or building, as the case may be, or sale of real estate project, in an efficient and transparent manner and to protect the interest of consumers in the real estate sector and to establish an adjudicating mechanism for speedy dispute redressal and also to establish the Appellate Tribunal to hear appeals from the decisions, directions or orders of the Real Estate Regulatory Authority and the adjudicating officer and for matters connected therewith or incidental thereto.” 7. The whole aim of the Act is to promote the real estate sector in an efficient and transparent manner and protect the interest of the consumers (including home buyers / allottees). Thus, by not extending the registration of the project the same will come to a halt. The promoter shall not be able to take actions for efficient completion as may be required in view of the lack of registration. Such an action will only be detrimental to the interest of the consumers (including home buyers / allottees). Thus, the balance of convenience lies in allowing the extension with conditions to ensure completion. Further, the Authority also notes that this extension under Section 7(3) needs to be granted so that the completion of the project is not interrupted. Therefore, in the interest of the allottees, the Authority grants extension from 01.10.2025 to 30.09.2026. This extension will be without prejudice to the rights of the allottees under the Act. In view thereof, this Authority allows the extension application keeping the rights of the allottees intact with certain directions hereinbelow. Page 4 of 5 FINAL ORDER 8. The extension application is allowed, and the extension for the project is granted from 01.10.2025 to 30.09.2026 with the following conditions: A. The promoter shall complete the construction work and obtain occupancy certificate (OC) for the project. The allottees of the project shall co-operate with the promoter. That the rights of the allottees under the Act shall, however, remain intact. B. The promoter is directed to submit within 15 days of this order date the PERT CPM / BAR charts about the milestones to be achieved with respect to the completion of the project. The same shall also be shared with the Allottees of the project. C. The promoter herein is also directed to submit monthly progress reports of achievements of such milestones and/ or delay, if any, to MahaRERA, the association of allottees, if any, formed, and the allottees of the project. D. That upon receipt of the part / full OC, the promoter shall inform this Authority about the same and update all progress on the project registration webpage from time to time. MANOJ Digitally signed by MANOJ SAUNIK SAUNIK 11:27:18 +05'30' Date: 2025.09.09 Manoj Saunik Chairperson, MahaRERA Page 5 of 5