MahaRERA has issued at least half a dozen regulatory measures to protect the interests of homebuyers in Maharashtra.
The Maharashtra Real Estate Regulatory Authority (MahaRERA) recently made headlines for suspending the registrations of over 20,000 real estate agents in Maharashtra who failed to present for the necessary competency certification examination.
Check out India’s No. 1 real estate portal IndexTap preferred by home buyers.
In recent weeks, MahaRERA has issued almost half a dozen regulatory decisions to protect the interests of homebuyers in Maharashtra. These include parking space allotment, senior citizen housing, amenities delivery dates, and building quality, among others.
Parking space information in the agreement and allotment letter.
In April 2024, MahaRERA directed real estate developers to include details of parking space given or sold to homebuyers in the sale agreement and submit an allotment letter to avoid misunderstanding and future conflicts.
The order was issued after the regulator received many complaints from homebuyers about building beams impeding vehicle parking, inability to park in allowed slots, and insufficient maneuvering room. As a result, the regulator decided to require developers to publish all parking-related parameters, such as size, height, and width, in annexures to allotment letters and sale agreements.
Senior Citizen Homes
Last month, MahaRERA established criteria for senior housing projects. With this step, MahaRERA becomes the first housing regulatory agency in India to establish rules for housing developments for senior individuals.
These recommendations address a variety of topics, including design, accessibility, mobility, bathrooms, green principles, and safety features. Once these standards are applied, developers must add certain terms in the Agreement for Sale and other relevant papers. According to the authority, senior citizen home projects must henceforth follow model rules.
Delivery date of amenities
Following several complaints from homebuyers that developers had delayed providing amenities or that the facilities provided were different from what was promised at the time of booking, MahaRERA in April made it mandatory for developers to mention details such as delivery date, size, and location of amenities to ensure that homebuyers received what they were promised.
Suspends registration of real estate agents
On May 23, MahaRERA suspended the registration of around 20,000 agents for one year after they failed to earn the MahaRERA Real Estate Agent Certificate of Competency. The MahaRERA prohibited these real estate agents from conducting any transactions. MahaRERA took action after 20,000 of the 47,000 real estate agents failed to pass the obligatory competency exam.
Quality of Construction
In April 2024, MahaRERA published a framework for selecting third-party entities to assess the quality of building before giving over possession to buyers. MahaRERA has developed a mechanism for Third Party Quality Monitoring that strives to ensure construction quality from the start.
Under the method, the quality of construction will be assessed at various stages during the development cycle, including after the project is completed and before homebuyers take possession.
