The Real Estate Regulatory Authority (RERA), Bihar on November 13, 2023, issued a notification regarding steps to be taken to complete the remaining development works in respect of projects whose registration has either lapsed or been revoked.
The following has been stated: -
•Standard Operating Procedure (SOP) has been formulated to deal with the applications for extension of registration of such lapsed projects.
•Notice was also issued earlier to the promoters whose registration of the project has lapsed to apply for an extension of the project with all relevant documents.
•The promoters of lapsed projects are hereby given a last opportunity to exercise the option of getting the registration extended, otherwise they would forfeit their right to complete the remaining works including the right to sell or book unsold flats in the project.
The detailed notification is given in the document attached below.
[Notification No. 0.0.- 172]
