MahaRERA Ensures Transparency: Developers Must Specify Delivery Dates for Facilities and Amenities
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has made it mandatory for developers to specify the delivery date of facilities and amenities in the Agreement for Sale.
MahareraReal EstateFacilities And AmenitiesAgreement For SaleHomebuyersDevelopersReal Estate MaharashtraJul 31, 2024
Usually, larger housing projects are spread over multiple phases, and amenities are often made available only on completion of the last phase. To ensure that residents in earlier phases are aware of the availability of facilities and amenities, it is now mandatory to provide phase-wise and date-specific information.
The MahaRERA has ensured that this provision is non-negotiable, and an order to this effect has been issued, applicable to all registered housing projects with immediate effect. Previously registered Agreements for Sale will continue to be non-negotiable with regards to multiple provisions that have larger ramifications.
Additionally, it will be mandatory to provide a comprehensive detail of the facilities and amenities in Schedule-II of the Agreement for Sale. In the event of any major revisions or changes, an approval from MahaRERA is a must.
MahaRERA Chairman Shri Ajoy Mehta stated, 'While advertising their new housing projects, developers often promote a variety of attractive facilities and amenities alongside the actual apartments. However, there is no mention of when the proposed facilities and amenities will actually be made available. MahaRERA has observed that many homebuyers have been affected by these shortcomings and has taken a serious note of this issue.'
The Schedule II will provide comprehensive details, and any modifications will require MahaRERA's approval. Moreover, any changes to the location or number of facilities and amenities will require consent of two-thirds of the homebuyers.
In April, MahaRERA had published a draft order on the subject to invite suggestions and opinions from varied stakeholders. Based on the feedback received, several new aspects have been included in the final proposed order.
It has also been made mandatory to provide details of the expected date of Occupancy Certificate (OC) for the project, size of the facilities and amenities, whether it is a project in itself or acquired, if they are free of Floor Space Index or not under the rules and regulations of the local planning bodies.
Frequently Asked Questions
What is the latest mandate from MahaRERA for developers?
Developers must specify the date of delivery of facilities and amenities in the Annexure-I of the Agreement for Sale.
Why is this mandate necessary?
This mandate is necessary to ensure that developers deliver the committed facilities and amenities to homebuyers on time.
What kind of information must be provided in Schedule-II of the Agreement for Sale?
A comprehensive detail of the facilities and amenities must be provided in Schedule-II of the Agreement for Sale.
What is the approval process for revisions or changes to facilities and amenities?
An approval from MahaRERA is required for any major revisions or changes to facilities and amenities.
What is the significance of this mandate for homebuyers?
This mandate ensures that homebuyers are aware of the delivery timeline of facilities and amenities and can plan accordingly.
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