Kerala Rera Ongoing Project
As per section 3 of the act, all projects that are ongoing from the date of commencement of this act and for which the completion certificate has not been issued, the promoter shall make an application to the authority for the registration of the said ongoing project with a period of 3 months. Now in kerala the above said period stands extended till 31-03-2020.
The act created by the government hold promises for existing buyers of real estate properties for both residential and commercial. According to the rera act passed by the parliament last year which was supposed to be implemented in its entirety in all states, every ongoing and under construction projects is supposed to come under this act.
RERA is applicable to on-going projects which have not received the completion certificates before the commencement of the Act, i.e. May 1, 2017. Also, they need to get the projects registered within a time span of three months.
However, please bear in mind that rules defining “completion certificate” and the procedure for issuance thereof are made by the State Governments and there is a lot of variance in these rules. In some states depending on the procedure through which it is completion certificate may actually mean occupation certificate.
Projects that are ongoing on the date of commencement of this Act and for which the completion certificate has not been issued, the promoter shall make an application to the Authority for registration of the said project within a period of three months from the date of commencement of this Act.