MahaRERA said that homebuyers are attracted to amenities like swimming pools, gyms, and community centres, but agreements lack clarity on access & specifications.
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Developers in Maharashtra might soon be required to provide detailed information about amenities in housing projects, along with deadlines for their completion, as per a proposal by the state's real estate regulator. The new standards by MahaRERA, the real estate watchdog, aim to resolve the uncertainties around guaranteed utilities and amenities in housing complexes, reported PTI.
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The report cited the statement by MahaRERA which stated that potential homeowners are frequently drawn to amenities such as swimming pools, gyms, and community centres, but agreements sometimes lack clarity on when these facilities would be accessible or their specifications.
According to the statement, a lack of transparency may result in unmet expectations and future disputes, the PTI report added.
Currently, 'Schedule Two' of the Model Agreement for Sale merely specifies amenities, not their characteristics or delivery dates. The proposed ordinance seeks to address this by requiring developers to state the exact date when these amenities will be offered to residents.
"The proposed order now makes it mandatory to specify the exact date by which these amenities and facilities will be made available to residents," the PTI report added.
Per the PTI report, the developers will be required to submit information about the size and availability dates of amenities such as swimming pools, sports courts, auditoriums, gyms, and offices for residents. This information will become a non-negotiable element in the sale agreement because it is critical for all homebuyers, the report added.
The suggestion advises making this condition irrevocable, like other significant clauses in the Model Agreement for Sale.
The draft plan is currently accessible for public feedback until May 27, with suggestions and objections accepted via MahaRERA's website.
Meanwhile, recently MahaRERA developed a Quality Assurance Certificate that requires promoters to report on four aspects each year: structure design, input material quality, workmanship, and other elements. The declaration will be displayed to homebuyers so that they can make informed decisions.
MahaRERA has created a draft declaration on quality assurance, which the promoter must submit on an annual basis. The planned Form 2A will replace the current Form 24. Stakeholders are invited to provide feedback on the plan by May 23.
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