MahaRERA's New Rule: A Game-Changer for Maharashtra's Real Estate Market
Experts predict that this law will significantly impact the Maharashtra real estate market, making it more efficient and customer-friendly.
MahareraReal EstateMaharashtraDevelopersHomebuyersReal Estate NewsAug 13, 2024
With this order, homebuyers can now see their investment timelines more clearly, and real estate transactions will be more trustworthy. The regulation requires developers to include precise completion dates for OCs and project amenities while registering a project.
Frequently Asked Questions
What is the new rule introduced by MahaRERA?
The new rule requires developers to specify the delivery dates for project amenities and occupation certificates (OCs) at project registration.
Why was this rule introduced?
The rule was introduced to address the recurring delays in providing promised amenities and to bring transparency and accountability to the real estate sector.
How will this rule impact the real estate market?
Experts predict that this law will significantly impact the Maharashtra real estate market, making it more efficient and customer-friendly.
What is the benefit of this rule for homebuyers?
With this rule, homebuyers can now see their investment timelines more clearly, and real estate transactions will be more trustworthy.
How has the real estate industry reacted to the new rule?
The industry has reacted in various ways, with some developers viewing it as an additional regulatory burden, while others see it as a step in the right direction towards increased buyer confidence and transparency.
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