BEFORE THE MAHARASHTRA
       REAL ESTATE REGULATORY AUTHORITY, MUMBAI

               Virtual Hearing held through video conference as per
                        MahaRERA Circular No.: 27/2020

                        REGULATORY CASE NO. 350 OF 2025
 PROMOTER NAME                                             RELIABLE CONSTRUCTIONS

 PROJECT NAME                                                              LAXMI NAGAR

          MAHARERA PROJECT REGISTRATION NO. P51800010918
                                         ORDER
                               (In an extension application)

                                    June 18th, 2025
                 (Date of hearing –21.05.2025-matter reserved for order)

                 Coram: Manoj Saunik, Chairperson, MahaRERA
                     Imran Faras 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 “LAXMI
     NAGAR” under section 5 of the Act bearing MAHARERA Registration No.
     P51800010918 (hereinafter referred to as the “Project”).


2.   The promoter had filed an extension application no. EXT51800025275 on
     01.12.2024 (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 21.05.2025, wherein the following roznama was recorded:
     “Imran Faras appeared for the Promoter.
     Heard the applicant. Matter is reserved for order.”


3.   However, the Authority has noted that during the hearing, Mr. Imran Faras,
     representing the promoter, confirmed that construction is approximately 95%
     complete. More importantly, he stated that the promoter has successfully
     secured the consents of 54.19% of the allottees. This percentage surpasses the



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     minimum requirement of 51% majority consents as mandated under the Act
     and rules.


4.   Since these crucial consents have now been obtained, the promoter no longer
     wishes to proceed with this extension application as per Circular/Order No. 40
     of 2022 dated 27.12.2022. This application was initially filed by the promoter
     because they had not been able to secure the necessary majority consent at that
     time.


5.   Further, the Authority also observed that, given the majority consent is now on
     record, the project has already been granted an extension. This can be observed
     from the Extension of Registration Certificate dated 26.05.2025 granted by the
     Authority, which extends the project's completion deadline to 31.12.2026.


6.   As a result, nothing further remains for the Authority to decide in this extension
     application as per Circular/Order No. 40 of 2022. Thus, the extension
     application is disposed of as infructuous.


                                                                       MANOJ    Digitally signed by
                                                                                MANOJ SAUNIK

                                                                       SAUNIK   Date: 2025.06.18
                                                                                16:04:56 +05'30'

                                                                     Manoj Saunik
                                                           Chairperson, MahaRERA




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