The Centre has advised the state Real Estate Regulatory Authorities (RERAs) to enforce a four-month extension for housing projects due to the ongoing conflict in West Asia, which has caused material shortages and supply chain disruptions. According to the advisory, issued by the Ministry of Housing and Urban Affairs, this extension applies to projects registered on or before February 28, 2026.This move has been appreciated by developers and builders, who collectively believe that the temporary pause will help in absorbing the damage and speed up pending projects.However, homebuyers are in a difficult position as they feel left out and bear the additional costs of construction.
“The market is already facing challenges with both sales and delivery execution, and now, with this four-month extension, it seems there will be more challenges to come”Snehith Reddy MedaPartner at E-infraFallout of the moveAccording to Snehith Reddy Meda, partner at E-infra, who is currently developing Moonglade Apartments in the Kokapet-Narsingi-Manchirevula belt and Skyven Apartments in Narsingi, this move has adversely affected the construction of all major materials, including steel, PVC, tiles, wiring, pipes and glass. “The market is already facing challenges with both sales and delivery execution, and now, with this four-month extension, it seems there will be more challenges to come. Year-on-year housing sales in the top seven cities fell by 7% in Q1 and another 6% in Q2, and over 5.4 lakh homes will be delivered this year.”Homebuyers have a lot to plan with regard to applying for loans, getting interior work done, relocating based on when the house will be ready, and, most importantly, financial planning. Sanjay Chugh, city head and director, ANAROCK Property Consultants, Chennai, says, “There could be some impact on possession timelines in projects genuinely affected by supply-chain disruptions, and consequently, some buyers may have to manage EMIs and rentals for a slightly longer period.”
