Maharashtra Real Estate Regulatory Authority (MahaRERA) was in the news recently for suspending registrations of over 20,000 real estate agents in Maharashtra after they failed to comply with the mandatory rule of appearing for competency certification examination.
In the last few weeks, MahaRERA has issued around half a dozen regulatory orders to safeguard the interests of homebuyers in Maharashtra. These pertain to parking space allotment, senior citizen homes, delivery date for amenities, quality of construction among others.
1) Parking space details in agreement and allotment letter
The MahaRERA in April 2024 asked real estate developers to mandatorily include details of parking space allotted or sold to homebuyers in the sale agreement and issue an allotment letter to prevent any ambiguity and future disputes.
Also Read: MahaRERA suspends registration of over 20,000 real estate agents in Maharashtra
The regulator passed the order after it received several complaints from homebuyers such as building beams obstructing parking of vehicles, inability to park in the allotted slot, inadequate maneuvering space. Consequently, the regulator decided to make it mandatory for developers to include all details such as size, height, width related to parking in annexures to the allotment letter and sale agreement.
Also Read: MahaRERA makes parking details in allotment letter and agreement to sale mandatory
2) Senior citizen homes
MahaRERA last month issued guidelines for senior citizen housing projects. This move makes MahaRERA the first housing regulatory body in India to promulgate provisions for housing projects for retired citizens.
Also Read: MahaRERA unveils framework to regulate senior citizen housing
These guidelines cover design, accessibility, mobility, bathrooms, green principles, safety features among others. Once these guidelines are implemented, developers will have to include special provisions in the Agreement for Sale and other relevant documents. Henceforth, senior citizen housing projects will have to be built as per model guidelines, the regulator said in a statement.
3) Delivery date of amenities
After receiving several complaints from homebuyers that developers had delayed in 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 of amenities, size, location of the amenities, to ensure that homebuyers get want they were promised.
Also Read: Complaints in real estate sector come down to 3.5% from 23% post MahaRERA
4) Suspends registration of real estate agents
MahaRERA on May 23, suspended registration of about 20,000 agents for a period of one year after they failed to obtain the MahaRERA Real Estate Agent Certificate of Competency. The MahaRERA restricted these real estate agents from engaging in any transaction. The action was taken by MahaRERA after 20,000 out of the total 47,000 real estate agents did not clear the mandatory competency examination.
5) Quality of construction
MahaRERA in April 2024 issued a framework for appointing third-party agencies to determine the quality of construction before handing over possession to homebuyers. MahaRERA has put together a mechanism for Third Party Quality Monitoring that aims to guarantee construction quality right from the outset.
Under the mechanism, the quality of construction will be audited during several phases throughout the construction cycle, including at the time of finishing before handing over possession to homebuyers.
