(1) The registration granted under section 5 of the Act, may be extended as provided under section 6 of the Act, on an application made by the promoter in Form „E‟ which shall not be less than three months prior to the date of expiry of the registration granted. The Authority may condone the delay for filing the renewal application after the date of expiry, upon collection of late fee of ten percent of the registration fee as fixed by the Authority.
(2) The application for extension of registration shall be accompanied with a demand draft drawn on any scheduled bank, for an amount as may be specified by regulations 6 made by the Authority as provided under sub-rule (3) of rule 3 along with an explanatory note setting out the reasons for delay in the completion of the project and the need for extension of registration for the project, along with documents supporting such reasons:
Provided that where the extension of registration is due to force majeure, the authority may, at its discretion, waive the fee for extension of registration.
(3) Extension of registration of the project shall not be beyond the period provided as per local laws for completion of the project or phase thereof, as the case may be.
(4) In case of extension of registration, the Authority shall inform the promoter about the same in Form „F‟ and in case of rejection of the application for extension of registration, the Authority shall, after giving an opportunity to the applicant to be heard in the matter as provided in the second proviso to section 6 of the Act, inform the promoter about the same in Form „D‟.
(5) Any sale of an unit in any development project after the lapse of registration period with the Authority and after obtaining the completion certificate from the Competent Authority within the prescribed period as per local laws shall not be treated as offence as prescribed in sub section (2) of section 59 of the Act.