MahaRERA's New Order Shields Mumbai Homebuyers from Builders' False Promises
The Maharashtra Real Estate Regulatory Authority has made it compulsory for property developers to provide details about amenities and facilities proposed for buyers.
MahareraReal EstateHomebuyersBuildersMumbaiReal Estate MumbaiAug 04, 2024
The order makes it mandatory for the developers to mention certain details about the property on the agreement of sale. This move is expected to bring transparency in the real estate sector and protect homebuyers from builders' false promises.
The order is in effect from July 30, 2024. According to the order, property developers will have to provide a proposed date of handover of listed amenities during the signing of the buyer and seller Agreement for Sale.
So, what exactly does the order say? Let's take a closer look.
Facilities/Amenities Details And Local Planning Rules Compliance The order says that the developers have to provide information about the facilities/ amenities provided/ to be provided either in the building and/ or provided in the common areas and/or in the layout as the case may be. This includes swimming pool, badminton court, tennis court, theatre, gymnasium, table tennis court, squash court, etc.
Facilities/Amenities Size and Location MahaRERA also makes it mandatory for the developers to mention the size and location of the facilities/ amenities in form of open spaces (RG/PG, etc) to be provided within the plot and/ or in the layout and proposed date on which such open spaces etc shall be handed over to the common organisation of Allottee(s) or Federation of common organisations.
Information About Lift The order also states to mention the following details about lift the developer is planning
1. Number of lifts to be provided with details as to
2. Type of life passenger/stretcher/service/fire evacuation/ goods, etc
3. Capacity in the form of number of passengers.
4. The speed of life specified as Metre per second.
But what prompted MahaRERA to issue this order? The regulator issued the order as several developers were found to be not mentioning the facilities they plan to provide.
Frequently Asked Questions
What is the new order issued by MahaRERA?
The order makes it mandatory for property developers to provide details about amenities and facilities proposed for buyers.
When is the order effective from?
The order is effective from July 30, 2024.
What are the facilities/ amenities that developers have to provide information about?
Swimming pool, badminton court, tennis court, theatre, gymnasium, table tennis court, squash court, etc.
What information do developers have to provide about the lift?
Number of lifts, type of lift, capacity, and speed of lift.
Why did MahaRERA issue this order?
The regulator issued the order as several developers were found to be not mentioning the facilities they plan to provide.
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