The Maharashtra Real Estate Regulatory Authority (MahaRERA) emerged as a proactive force in 2024, introducing multiple measures to protect homebuyers and boost confidence in Maharashtra’s real estate sector.
The initiatives came under the leadership of both former chairman Ajoy Mehta, who retired in September, and his successor Manoj Saunik, ensuring continuity of reforms targeted at homebuyers.
Ajoy Mehta, who served as Chairman of MahaRERA until September 2024, launched his book: RERA – A perspectivewhich sheds light on the ongoing challenges within the real estate sector. In the book, Mehta discusses ‘horror stories’ where buyers invested in projects without proper approval.
He specifically criticized the practice of developers selling premium apartments on higher floors without obtaining mandatory civil aviation approvals. “It must be understood that while a plot has the potential to be built up to a certain height, this was only possible if it was subject to civil aviation approvals,” Mehta wrote.
Policy for monuments introduced in 2024
In September 2024, MahaRERA directed real estate developers to include comprehensive parking details, such as size, height and width, in sales agreements and allotment letters. This policy is intended to address homebuyer complaints about issues such as insufficient room to maneuver or blocked parking spaces.
To combat delays in the delivery of promised facilities, MahaRERA issued an order in July 2024 requiring developers to provide delivery timelines as well as details such as the size and location of facilities in agreements. The guideline aims to ensure that buyers get exactly what was promised at the time of booking.
In April 2024, MahaRERA introduced a framework for appointing external agencies to monitor construction quality during different project phases. This ensures that quality problems, such as leaks in apartments, are proactively addressed before the apartment is put into use.
MahaRERA in May 2024, became the first regulator in India to set guidelines specifically for senior housing projects. These include accessibility, safety features and green principles. Developers must include these provisions in sales agreements and associated documents.
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