Short Answer

An approved redevelopment plan under the Gujarat RERA Act can remain valid for a period of one year from the date of approval. It can be extended for a further period of one year if the competent authority deems it necessary.

Detailed Explanation

As per Section 95 of the Gujarat RERA Act, an approved redevelopment plan remains valid for one year from the date of approval. This means that the developer has one year to commence the redevelopment project after obtaining approval from the competent authority. If the developer is unable to start the project within this timeframe, they can apply for an extension.

Section 95(2) of the Gujarat RERA Act allows for the extension of the approved redevelopment plan for a further period of one year if the competent authority finds it necessary. The developer must apply for the extension before the expiry of the initial one-year period and provide valid reasons for the delay in commencing the project.

In practice, this provision ensures that developers do not hold onto approved redevelopment plans indefinitely without taking any action. It encourages timely implementation of redevelopment projects and prevents stagnation in the real estate sector. The extension process provides flexibility to developers facing genuine challenges in starting the project within the initial one-year period.

Real-world Scenarios

• Scenario 1: A developer obtains approval for a redevelopment plan but faces delays in securing necessary permits and clearances. They can apply for an extension under Section 95(2) of the Gujarat RERA Act to continue with the project.

• Scenario 2: Due to unforeseen circumstances such as a pandemic or financial constraints, a developer is unable to commence the redevelopment project within the one-year validity period. They can seek an extension by following the prescribed procedure.

Comprehensive coverage:

The Gujarat RERA Act, specifically Section 95 and Section 95(2), governs the validity and extension of approved redevelopment plans. These provisions ensure that redevelopment projects are initiated in a timely manner while allowing for flexibility in case of genuine delays.

References

• Section 95 and Section 95(2) of the Gujarat RERA Act: https://gujrera.gujarat.gov.in/