The Maharashtra Real Estate Regulatory Authority (MahaRERA) has introduced a crucial mandate requiring real estate developers to provide homebuyers with precise timelines regarding the availability of facilities and amenities within their projects. This regulation stipulates that developers must specify the exact date by which these amenities will be accessible, as well as the anticipated date for obtaining the occupation certificate (OC). This measure aims to enhance transparency and accountability in the real estate sector, ensuring that buyers are fully informed about the delivery timelines of key project elements. By enforcing these requirements, MahaRERA seeks to protect consumers’ interests, reduce disputes, and foster a more reliable and trustworthy real estate market in Maharashtra.
Mr. Prashant Sharma, President, NAREDCO Maharashtra
“As a progressive step towards enhancing transparency and accountability in the real estate sector, MahaRERA’s decision to make it mandatory for developers to specify the delivery date of amenities and the occupation certificate is a welcome move. This regulation will not only strengthen the trust between homebuyers and developers but also ensure that projects are delivered as promised. It marks a significant shift towards more consumer-centric practices, which will ultimately lead to a more robust and trustworthy real estate ecosystem in Maharashtra. NAREDCO Maharashtra fully supports this initiative, as it aligns with our commitment to fostering ethical practices and enhancing customer confidence in the industry.”