MahaRERA's New Rule: Developers Must Include Amenities Delivery Date in Sale Deed
In a bid to protect homebuyers' interests, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has made it mandatory for developers to disclose detailed information about the amenities they offer, including the date of delivery, in the sale deed.
MahareraReal EstateHomebuyersAmenitiesTransparencyAccountabilityReal Estate MaharashtraAug 02, 2024
This includes amenities such as swimming pools, badminton courts, tennis courts, theaters, gymnasiums, table tennis courts, squash courts, and more. The rule also requires developers to clearly categorize whether the amenities are provided using free of FSI area or utilizing FSI of the project under local planning rules and regulations. The size and location of the amenities, including open spaces, must also be mentioned in the sale deed.
Furthermore, the proposed date of handover of the amenities to the common organization of allottees or the federation of common organizations must be specified. The rule also requires developers to provide specific details of lifts, including the type, capacity, and speed. This move is expected to bring more transparency and accountability to the real estate sector, and provide homebuyers with more confidence when investing in a property. Industry experts have welcomed the move, stating that it is a significant step towards enhancing transparency and accountability in the real estate sector. The new rule is expected to strengthen the trust between homebuyers and developers, and ensure that projects are delivered as promised.
Frequently Asked Questions
What is the new rule introduced by MahaRERA?
The new rule requires developers to include the delivery date of amenities in the sale deed, providing detailed information about the amenities they offer.
What kind of amenities are included in the new rule?
The rule includes amenities such as swimming pools, badminton courts, tennis courts, theaters, gymnasiums, table tennis courts, squash courts, and more.
Why was the new rule introduced?
The new rule was introduced to protect homebuyers' interests and promote transparency in the real estate sector.
How will the new rule benefit homebuyers?
The new rule will provide homebuyers with more confidence when investing in a property, and ensure that projects are delivered as promised.
Have industry experts welcomed the new rule?
Yes, industry experts have welcomed the move, stating that it is a significant step towards enhancing transparency and accountability in the real estate sector.
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