"The Hon’ble Finance Minister’s speech on the relief package focused on five pillars of growth, and one of the major areas is infrastructure. The government has reiterated its commitment to the real estate sector by announcing relief measures like an extension of various statutory compliance, including registration and completion date of projects, under RERA. The Finance Minister has asked regulators to treat the Covid period as a force majeure. We applaud the decision of extending registration and completion dates, suo-moto, by 6 months, for all registered projects expiring on or after 25th March, 2020, without individual applications. This is likely to boost the sentiments of the developers and help us tackle the issue on a stronger footing."
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