Maharashtra Real Estate Regulatory Authority (MahaRERA) has introduced a new regulation requiring developers to clearly specify deadlines for the delivery of amenities in their housing projects. This significant change aims to eliminate the common issue of delayed facility availability faced by homebuyers.
New Regulation Details
Traditionally, homebuyers have been promised a range of amenities—such as swimming pools, tennis courts, and gyms—when purchasing apartments, but these facilities are often delayed or not delivered as expected. To address this, MahaRERA has mandated that developers must include a precise timeline for the completion and delivery of these amenities in the Agreement for Sale’s Annexure-I.
Annexure-I, which is an integral part of the legally binding Agreement for Sale, will now detail the expected delivery dates for all promised facilities. This move is designed to hold developers accountable and ensure that the amenities are delivered as committed.
Phase-Wise and Date-Specific Commitments
For larger projects that are developed in multiple phases, the new regulation requires developers to provide a phase-wise schedule and specific dates for the availability of amenities. This ensures that residents in the initial phases are informed about when they can expect these facilities to be ready.
Implications for Existing and Future Agreements
The new rules apply to all new Agreements for Sale. Existing agreements remain unchanged with respect to current provisions. However, future Agreements must include comprehensive details about amenities in Schedule-II.
Additionally, any significant changes to the amenities—such as their location, number, or nature—will need prior approval from MahaRERA. Developers must also seek consent from two-thirds of the residents for such changes, preventing unilateral modifications.
Detailed Requirements for Amenities
The updated regulations also require detailed information about recreational areas and types of lifts (e.g., passenger, service, fire evacuation) to be included in the Agreement for Sale. This includes specifications on the expected date of the Occupancy Certificate (OC) and the size and status of the amenities.
Statements from MahaRERA Leadership
Ajoy Mehta, Chairman of MahaRERA, highlighted the importance of the new regulations: “Developers often promote a variety of amenities to attract buyers but fail to provide clear timelines for their delivery. This lack of transparency has affected many homebuyers. By requiring deadlines for amenities to be included in the Agreement for Sale, we aim to provide homebuyers with clear and enforceable commitments.”
He added, “This initiative not only protects homebuyers but also enhances transparency in the real estate sector. Developers will now be held accountable for delivering amenities within the specified timeframe, just as they are for completing apartments.”
Conclusion
MahaRERA’s new regulation represents a crucial step toward improving transparency and accountability in the real estate sector. By ensuring that deadlines for amenities are clearly defined and legally binding, the authority aims to safeguard homebuyers and enhance their overall experience with housing projects.
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