BEFORE THE MAHARASHTRA REAL ESTATE REGULATORY AUTHORITY, MUMBAI Virtual Hearing held through video conference as per MahaRERA Circular No.: 27/2020 REGULATORY CASE NO. 363 OF 2025 PROMOTER NAME CLASSIC PROMOTERS AND BUILDERS PRIVATE LIMITED PROJECT NAME WORLD FOUR - SOLITAIRE WORLD MAHARERA PROJECT REGISTRATION NO. P52100030319 ORDER (In an extension application) May 21st, 2025 (Date of hearing - 05.05.2025 matter reserved for order) Coram: Manoj Saunik, Chairperson, MahaRERA Advocate Jayanti Kulkarni 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 “ WORLD FOUR - SOLITAIRE WORLD” under section 5 of the Act bearing MAHARERA Registration No. P52100030319 (hereinafter referred to as the “Project”). 2. The promoter has filed an extension application no. EXT52100024741 on 11.10.2024 (hereinafter referred to as “extension application”) seeking for extension of the project which was heard by this Authority on 05.05.2025 wherein the following roznama was recorded: “Advocate Jayanti Kulkarni present for the promoter. Heard the learned advocate for the applicant at length. Applicant requests extension till 31.03.2026. Parties are at liberty to submit written submissions if any on or before 12.05.2025, Subsequent to which the matter will be reserved for order form 13.05.2025.” Page 1 of 4 3. Before moving ahead, the Authority notes the registration details already on record. The promoter while seeking registration of the project had submitted the proposed date of completion as 30.03.2025. The promoter has applied for extension under section 7(3). The promoter states that the original planned timelines for completion of project needs extension on the following grounds: A. That the promoter faced numerous challenges as the project layout was unforeseeably surrounded with the illegal huts and slum encroachments which were causing obstruction and unwarranted delays in carrying out smooth construction activities. B. That to deal with the same, the promoter faced a lot of inconvenience and in removing the illegal encroachments took considerable time, effort and resources all causing and leading to delay in construction and timely completion of the said Project. C. That the said issue of encroachments and encroachers still persist in part of the said project layout and the promoter is tirelessly working towards resolution of the same so as to ensure expedited completion of the said Project. D. Therefore the promoter seeks extension till 31.03.2026. 4. In view of the above, 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.” Page 2 of 4 5. 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. The Authority acknowledges the requirement for an extension and in interest that the project should see the light of the day and the promoter duly completes his obligations towards the allottees, the Authority grants an extension until 29.03.2026. Thus, the Authority grants the extension to the registration of the project from 30.03.2025 to 29.03.2026. 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 6. The extension application is allowed and the extension for the project is granted from 30.03.2025 to 29.03.2026 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. The rights of the allottees under the Act shall however remain intact and unaffected. B. The promoter is directed to submit within 15 days of this order 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. Page 3 of 4 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. Upon receipt of the part / full occupancy certificate 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 Date: 2025.05.21 17:16:24 +05'30' Manoj Saunik Chairperson, MahaRERA Page 4 of 4