MahaRERA Protects Homebuyers from Parking Space Manipulation
MahaRERA's latest order mandates promoters to provide specific information about parking spaces
MahareraParking SpaceHomebuyersPromotersReal EstateRegulationsReal Estate MaharashtraMay 29, 2024
The order aims to avoid parking disputes and protect homebuyers' rights. Promoters are now required to provide the number, type, and size of parking spaces, as well as the place where they are booked or allotted, in the allotment letter and sale agreement. The parking layout plan approved by the planning authority must also be annexed to the allotment letter and agreement for sale.
The order also defines the size of parking space to avoid any ambiguity. The size of parking space means the length, breadth, and vertical clearance for garages, covered parking spaces, and mechanized parking arrangements.
According to experts, this order will benefit homebuyers in several ways. It will avoid disputes between promoters and allottees, increase awareness about minimum parking space thresholds, and promote promoters' accountability.
In cases where mechanized parking facilities are available, the promoter must ensure that the designated parking space meets the minimum size threshold outlined in the regulations. Additionally, if the entire parking is proposed by mechanical/automatic means, then in case of residential buildings, additional parking to the extent of 10% of the required parking space will be allowed free of Floor Space Index (FSI) as a vehicle holding area.
MahaRERA is a regulatory authority established under the Real Estate (Regulation and Development) Act, 2016, to regulate the real estate sector in Maharashtra. Its primary objective is to protect the interests of homebuyers and promote transparency and accountability in the sector.
Cyril Amarchand Mangaldas is a law firm that provides legal services in the real estate sector. Singhania & Co is another law firm that specializes in real estate laws and regulations. ALMT Legal is a law firm that provides legal services in various sectors, including real estate.
Frequently Asked Questions
What is the minimum size of parking space for motor vehicles?
The minimum size of parking space for motor vehicles is 2 5 m x 5 5 m
What is the definition of size of parking space?
The size of parking space means the length breadth and vertical clearance for garages covered parking spaces and mechanized parking arrangements
Can promoters reduce the size of parking space beyond the minimum threshold?
No promoters cannot reduce the size of parking space beyond the minimum threshold outlined in the regulations
What is Floor Space Index (FSI)?
Floor Space Index (FSI) is the ratio of the total covered area on all floors to the plot area
How will homebuyers benefit from MahaRERA's order?
Homebuyers will benefit from MahaRERA's order as it will avoid disputes increase awareness about minimum parking space thresholds and promote promoters' accountability
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