BEFORE THE MAHARASHTRA REAL ESTATE REGULATORY AUTHORITY, MUMBAI Virtual Hearing held through video conference as per MahaRERA Circular No.: 27/2020 REGULATORY CASE NO. 386 OF 2025 PROMOTER NAME KALPATARU PROPERTIES PVT. LTD. PROJECT NAME KALPATARU MAGNUS MAHARERA PROJECT REGISTRATION NO. P51800004029 ORDER (In an extension application) July 17th, 2025 (Date of hearing –10.07.2025-matter reserved for order) Coram: Manoj Saunik, Chairperson, MahaRERA Advocate Aniket Deshmukh is present for the 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 “KALPATARU MAGNUS” under section 5 of the Act bearing MAHARERA Registration No. P51800004029 (hereinafter referred to as the “Project”). 2. The promoter has filed an extension application no. EA12062501550 on 12.06.2025 (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 10.07.2025, wherein the following roznama was recorded: “The learned advocate appeared and was heard on the extension application. 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 30.06.2023. MahaRERA granted three (3) extensions on the ground of Covid-19 pandemic which were granted to all the projects registered with MahaRERA and qualifying under Notifications / Orders Nos. Page 1 of 4 13, 14 & 21 dated 02.04.2020, 18.05.2020 & 06.08.2021 along with extension under section 6, whereby the date of completion was extended upto 30.06.2025. The delay in the project is primarily attributable to non-cooperation and ongoing disputes with the Society, resulting in delays in securing necessary approvals from MHADA. In light of the above, the Promoter seeks an extension of the project registration to complete the remaining work and obtain the requisite statutory approvals. Hence, the promoter has applied for extension vide the extension application herein under section 7(3) of the Act for the period from 01.07.2025 to 31.03.2026. 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. The project is a redevelopment project carried out in collaboration with the landowner, MHADA, and the Middle-Income Group Co-operative Housing Society Group V Ltd., comprising three buildings—Wings A, B, and C. The construction of Wings A and B has been fully completed. b. The application for grant of NOC from the Chief Fire Officer (CFO) was submitted on 01.07.2025, and the Occupation Certificate is expected by 30.09.2025. The construction of Wing C is at an advanced stage, with RCC work completed and internal finishing in progress. The Occupation Certificate for Wing C is expected by 31.12.2025. The clubhouse is expected Page 2 of 4 to be completed by 31.01.2026 and the remaining common amenities by 31.03.2026. c. The delay in completing the project is primarily attributable to ongoing disputes and lack of cooperation from the Society, which has failed to timely execute necessary documents required for approvals from MHADA, the planning authority. d. The Society has also initiated Commercial Arbitration Petition (L) No. 24704 of 2023 against the Promoter, and in response, the Promoter has filed Commercial Arbitration Petition (L) No. 25171 of 2023 seeking necessary directions for execution of pending documents. These disputes have significantly delayed the approval process and, consequently, the construction timeline of Wing C. e. Despite this, the Promoter has made substantial progress and completed Wings A and B within expected timelines. f. In view of the above and considering that the Promoter has substantially completed the construction of the Project and requires additional time only for internal finishing and regulatory approvals, the promoter requests an extension of the project registration up to 31.03.2026. The extension will enable the Promoter to complete the Project. 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 Page 3 of 4 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 01.07.2025 to 31.03.2026. 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. FINAL ORDER The extension application is allowed, and the extension for the project is granted from 01.07.2025 to 31.03.2026 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. Digitally signed by MANOJ SAUNIK MANOJ SAUNIK Date: 2025.07.17 17:10:01 +05'30' Manoj Saunik Chairperson, MahaRERA Page 4 of 4