MahaRERA, the Maharashtra Real Estate Regulatory Authority, has introduced new rules to make property developers more transparent about the details of the flats they sell.

Developers are now required to provide specific details sale agreements about their projects, including the expected date of the Occupancy Certificate (OC), the size of the facilities and amenities, whether the project is being constructed by the developer or has been acquired, and whether the project is free of Floor Space Index (FSI) as per local planning rules.

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It is witnessed that real estate developers often promise appealing facilities and amenities to homebuyers when they book an apartment. However, these amenities are often incomplete even after buyers move in.

To address this, MahaRERA now requires developers to specify the delivery date for these facilities in Annexure-I of the Agreement for Sale.

MahaRERA in a notice on Tuesday (30 July, 2024) said, “It is noticed by MahaRERA, that promoters in the proforma of the agreement for sale as uploaded in compliance of Section 4 (2) (g) of the Act, as well as in the agreement for sale to be executed with the allottees do not mention the facilities and amenities provided either in the building and / or in the common areas and / or in the layout as the case may be, and if mentioned the dates when the same would be made available for the use of the allottees, their family members and residents are not disclosed.”

MahaRERA Requires Developers to Include Essential Details

Developers must include the following details in Annexure 1 of Agreement for Sale:

Facilities/Amenities Details: List all the facilities and amenities to be provided, such as swimming pools, gyms, tennis courts, theaters, etc., and ensure they align with local planning rules.

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Facilities/Amenities Size and Location: Specify the size and location of these facilities, including open spaces, and provide the date when these will be handed over to the common organization of allottees.

Lift Details: Include information about the number of lifts, their types (passenger, service, etc.), capacity (number of passengers), and speed (meters per second).

Additionally, MahaRERA specified that all clauses in Annexure-1 are non-negotiable, ensuring that developers cannot make false or empty promises.

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