MahaRERA Takes a Step Forward: Developers Must Specify Deadlines for Housing Amenities
Maharashtra Real Estate Regulatory Authority (MahaRERA) has made it mandatory for developers to specify the date of delivery of facilities and amenities in the Agreement for Sale's Annexure-I.
MahareraHousing AmenitiesAgreement For SaleMaharashtra Real Estate Regulatory AuthorityHomebuyersDevelopersReal Estate MumbaiJul 31, 2024
Typically, larger housing projects are spread over multiple phases, and often, multiple amenities are made available only on completion of the last phase. To ensure residents in the earlier phases are aware about the availability of the facilities and amenities, it is now mandatory to provide a phase-wise and date-specific information of the same.
The Agreement for Sale will now include comprehensive details of the facilities and amenities, including swimming pool, tennis court, badminton court, theatre, club house, gymnasium, table tennis area, squash court, giant chess area, garden, senior citizen zone, jogging track, juice bar, children play area, among others.
In the event of any major revisions or changes or corrections or relocation of the specified facilities and amenities or public areas, an approval from MahaRERA is a must. Without such an approval, any and all changes will be considered invalid and illegal.
Ajoy Mehta, Chairman, MahaRERA, said, 'MahaRERA has observed that many homebuyers have been affected by these shortcomings and has taken a serious note of this issue. After providing all stakeholders ample opportunity to express their views, it has now been made mandatory to specify the delivery timeline of all the promised facilities and amenities in the Schedule II of the Agreement for Sale.'
This move is expected to enhance transparency and safeguard the rights of homebuyers, ensuring that developers are held accountable for providing the promised facilities and amenities within a specified timeframe.
Frequently Asked Questions
What is the main objective of MahaRERA's new mandate?
The main objective is to eliminate uncertainty and deceit of homebuyers by making it mandatory for developers to specify the date of delivery of facilities and amenities in the Agreement for Sale's Annexure-I.
What kind of facilities and amenities are included in the Agreement for Sale?
The Agreement for Sale will now include comprehensive details of facilities and amenities such as swimming pool, tennis court, badminton court, theatre, club house, gymnasium, table tennis area, squash court, giant chess area, garden, senior citizen zone, jogging track, juice bar, children play area, among others.
What is the significance of MahaRERA's approval in case of changes to facilities and amenities?
In the event of any major revisions or changes or corrections or relocation of the specified facilities and amenities or public areas, an approval from MahaRERA is a must. Without such an approval, any and all changes will be considered invalid and illegal.
How will this move benefit homebuyers?
This move will enhance transparency and safeguard the rights of homebuyers, ensuring that developers are held accountable for providing the promised facilities and amenities within a specified timeframe.
What is the role of MahaRERA in protecting homebuyers' rights?
MahaRERA has taken several initiatives to protect homebuyers' rights, including making it mandatory to specify the date of delivery of facilities and amenities, and ensuring that developers are held accountable for providing the promised amenities.
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