BEFORE THE MAHARASHTRA REAL ESTATE REGULATORY AUTHORITY, MUMBAI Virtual Hearing held through video conference as per MahaRERA Circular No.: 27/2020 REGULATORY CASE NO. 327 OF 2025 PROMOTER NAME SAUMYA BUILDCON PVT. LTD. PROJECT NAME MARINA BAY WORLI SEA FACE MAHARERA PROJECT REGISTRATION NO. P51900011592 ORDER (In an extension application) February 24th, 2025 (Date of hearing –21.02.2025 matter reserved for order) Coram: Manoj Saunik, Chairperson, MahaRERA Abhijeet Chavan present for 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 “MARINA BAY WORLI SEA FACE” under section 5 of the Act bearing MAHARERA Registration No. P51900011592 (hereinafter referred to as the “Project”). 2. The promoter has filed an extension application no. EXT51900027571 on 18.02.2025 (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 21.02.2025 wherein the following roznama was recorded: “Heard the applicant. Applicant submits that the project is a rehabilitation project and that there was change in the management of the project. However, subsequent to change in the management the project has undergone significant progress, and the building has been constructed up to 44th floors. The commencement certificate was obtained by the promoter till 44th floor and IOD is obtained for 45th floor. The applicant, however, wishes to construct further till 60th floor for which the required CC has not yet been received. Hence, they are seeking an extension till 30.06.2026. Matter is reserved for order.” 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 date of completion as 31.07.2022. 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. 13, 14 & 21 dated 02.04.2020, 18.05.2020 & 06.08.2021 along with extension under section 7(3), whereby the date of completion was extended up to 30.06.2025. The promoter states that the completion of the project has been delayed due to circumstances beyond their control. However, construction is in progress and that they have completed construction till 44th slab and they shall complete the remaining slabs/RCC work by March 2025. Further, the promoter has also initiated finishing work on the lobbies, outer facade, installation of lifts, etc for handing over flats to the allottees. 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 30.06.2026. 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 2/3rd majority consents 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 observations are noteworthy before examining the issue of grant of extension under Section 7(3) of the Act of registration of the project: Page 2 of 4 a. that the project is a rehabilitation project. b. That there was change in the management of the project. However, subsequent to change in the management the project has undergone significant progress, and the building has been constructed upto 44 th floor. c. That the commencement certificate (CC) was obtained by the promoter till 44th floor and IOD is obtained for 45th floor. d. The promoter is seeking an extension till 30.06.2026. 6. In view of the above, the issue of the extension under Section 7(3) of the Act as sought by the promoter without 2/3rd consents 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. Thus, the Authority grants the extension to the registration of the project from 01.07.2025 to 30.06.2026. This extension will be Page 3 of 4 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 30.06.2026 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 Date: 2025.02.24 17:07:29 +05'30' Manoj Saunik Chairperson, MahaRERA Page 4 of 4