MahaRERA Makes it Mandatory for Developers to Disclose Amenities Details in RERA Registered Projects
Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued an order to ensure transparency and efficiency in real estate projects
MahareraReraReal Estate Regulatory AuthorityAmenitiesTransparencyHome BuyersReal Estate MaharashtraJul 31, 2024
The order requires developers to provide detailed information about the amenities offered in their projects, including those in common areas and layouts. Some of the specific details that need to be disclosed include the type and size of amenities, such as swimming pools, badminton courts, and gyms, as well as the location and proposed date of handover of these amenities.
In addition, developers need to categorize whether the amenities are provided by utilizing 'free of FSI' area or 'utilizing FSI of the project' under local planning rules and regulations. Furthermore, they need to provide specific details of lifts, including the type, capacity, and speed.
The order also emphasizes the need for prior consent under section 14 for any major revisions, changes, shifting or corrections in the amenities, facilities or common areas. Moreover, a clause needs to be incorporated in the agreement for sale with respect to the amenities in a project in a specified format.
This move by MahaRERA is expected to bring in greater transparency and accountability in the real estate sector, and ultimately benefit home buyers. By providing detailed information about amenities, developers can build trust with their customers and ensure that they are aware of what they are getting.
Information
The Maharashtra Real Estate Regulatory Authority (MahaRERA) was established in 2017 to regulate and promote the real estate sector in Maharashtra. MahaRERA is responsible for ensuring that developers comply with the Real Estate (Regulation and Development) Act, 2016, and that home buyers are protected from fraudulent activities.
MahaRERA is a statutory body established under the Real Estate (Regulation and Development) Act, 2016. Its primary objective is to ensure that developers comply with the provisions of the Act and that home buyers are protected from fraudulent activities.
Frequently Asked Questions
What is MahaRERA?
MahaRERA is the Maharashtra Real Estate Regulatory Authority, a statutory body established under the Real Estate (Regulation and Development) Act, 2016.
What is the purpose of MahaRERA's recent order?
The purpose of MahaRERA's recent order is to ensure transparency and efficiency in the real estate sector by mandating developers to disclose specific details regarding amenities in their RERA registered projects.
What type of amenities do developers need to disclose under MahaRERA's order?
Developers need to disclose details about amenities such as swimming pools, badminton courts, gyms, lifts, and other facilities in common areas and layouts.
Why is it important for developers to disclose amenities details?
Disclosing amenities details is important because it helps home buyers make informed decisions and ensures that they are aware of what they are getting.
How will MahaRERA's order benefit home buyers?
MahaRERA's order will benefit home buyers by promoting transparency and accountability in the real estate sector, and ultimately protecting their interests.
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