MahaRERA has made it mandatory for real estate developers to specify delivery dates for amenities and occupation certificates in the agreement for sale, enhancing transparency and protecting homebuyers’ interests.
In a significant move aimed at enhancing transparency and protecting homebuyers’ interests, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has mandated that real estate developers specify the exact delivery dates for promised amenities and the anticipated date of obtaining the occupation certificate (OC).
This new regulation, effective immediately, requires developers to clearly outline a phase-wise schedule for amenities, including swimming pools, clubhouses, and other facilities, in Annexure I of the Agreement for Sale. The move comes in response to numerous complaints from homebuyers about delays in delivering promised amenities after moving into their homes.
By enforcing strict timelines for amenities and OC, MahaRERA aims to empower homebuyers with crucial information, enabling them to make informed decisions. Developers will no longer have the liberty to alter these dates, ensuring accountability and adherence to commitments.
This landmark decision is expected to significantly improve the overall buying experience for homebuyers in Maharashtra and set a new standard for transparency in the real estate sector.
