BackECONOMY
US-Iran war: CREDAI urges MoHUA to direct RERA authorities to grant 3-6 month extension for real estate projects
CREDAI has urged the Indian government to extend project completion timelines by 3-6 months and to treat the crisis as force majeure. The request, in a letter dated April 30, 2026, cites disruptions in material supply, labour shortages, and energy volatility due to the US-Iran war, with specific reference to Morbi tile production disruptions and rising input costs. A May 13, 2026 article confirms the appeal and notes industry moves toward precast construction and increased mechanisation.
Why It Matters
If granted, the extensions could affect housing supply and project delivery timelines nationwide, influencing market dynamics during geopolitical disruption.
Timeline
2 Events
Article reports CREDAI request and leadership remarks
May 13, 2026
The article published on May 13, 2026 reports CREDAI's letter to the government seeking relief measures, including extensions and force majeure recognition. It quotes Boman Irani, Credai National chairman and CMD of Rustomjee Developers, confirming the outreach to state RERA authorities for extensions. Irani discusses industry moves toward precast construction technology and mechanisation, including a tie-up with Singapore's RPD to use factory-built components. The report also notes broader constraints in building materials and ongoing energy-related uncertainty.
CREDAI letter to MoHUA seeking 3-6 month extension and force majeure recognition
April 30, 2026
Credai, in a letter dated April 30, 2026 addressed to the Secretary of the Ministry of Housing and Urban Affairs, urged the Centre to direct state RERA authorities to grant a blanket extension of three to six months for project completion timelines and recognise the ongoing crisis as a force majeure event for the real estate sector. The letter attributes delays to disruptions in raw material supply chains, labour shortages, and energy-related uncertainties, highlighting fuel shortages affecting the Morbi ceramic hub in Gujarat as a contributing factor. It notes higher input and logistics costs and requests policy support to mitigate adverse impacts on project execution and sector stability, including shortages of LPG driving reverse migration of labour.