Gurgaon: Haryana Real Estate Regulatory Authority (HRera), Gurgaon, has granted an automatic four-month extension to the completion timelines of eligible real estate projects because of disruptions in supply of construction material arising from the West Asia crisis.In an order issued on Tuesday, HRera stated that the projects that were scheduled to be completed by or after Feb 28 will be eligible for the extension. Their completion date will automatically be extended by four more months and promoters will not have to file a separate application to avail themselves of the extension, the order added.However, the Authority has laid down another eligibility condition — only those projects which have been registered with it on or before July 31, 2026, will get the benefit.The Authority said the decision follows an advisory issued by the Union housing and urban affairs ministry on July 31, recommending extension of registration of real estate projects under the Rera Act, in view of the West Asia conflict being treated as a ‘force majeure’ event.The move has been welcomed by developers, who said disruptions in the availability and transportation of construction materials had put pressure on project execution schedules and costs.Founder and chairman of Signature Global (India) Pradeep Aggarwal said the decision would provide the sector with “crucial breathing room” to deal with external supply-chain shocks without compromising construction quality or project viability.“The geopolitical situation in West Asia has severely disrupted global supply chains, leading to acute shortages of vital construction materials,” Aggarwal said, adding that the authority had recognised the “unprecedented challenges” facing the sector.Joint managing director of Ganga Realty Vikas Garg said the sector had faced delays in procuring critical construction materials, higher logistics costs and pressure on project execution timelines.According to Garg, the automatic extension would provide developers with operational flexibility to maintain construction quality and regulatory compliance while continuing project execution.However, homebuyers have expressed concern over the decision. A homebuyers’ rights activist said Centre repeatedly comes to the rescue of builders over delayed projects. He pointed out it was the second time, after the Covid pandemic, that the ministry has issued a “blanket advisory to provide relief to builders”.
