MahaRERA has proposed mandating that sale agreements include an annexure detailing all amenities and facilities promised in housing projects. This would include specifications for amenities like swimming pools, gyms, courts etc as well as timelines for their completion. Previously, such crucial information was often omitted from agreements leading to unmet expectations. The proposed order aims to provide transparency and set accountability for developers on delivering amenities as agreed. It is a significant measure that protects homebuyer interests and prevents disputes over incomplete or delayed amenities. Public feedback has been invited on the draft order by May 27.
Following the issuance of an order to bring uniformity and address discrepancies in parking spaces, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has now taken a proactive step to eliminate uncertainty regarding promised facilities and amenities in new housing projects.
The proposed order makes it mandatory to specify the exact dates by which amenities and facilities will be available to residents. As per the order, all amenities promised in common areas, within buildings and overall layouts - like swimming pools, courts, auditoriums, gyms etc. - must be detailed along with sizes and availability dates. Previously, Schedule Two of the Model Agreement for Sale only mentioned the facilities and amenities but did not provide any details with regards to their features and delivery date.
This information will have to be included in the sale agreement as a non-negotiable clause, as it is important for all homebuyers. MahaRERA has proposed making this the sixth provision of the model sale agreement, after clauses on force majeure, defect liability, carpet area, conveyance and the newly added parking provision.
MahaRERA has invited public suggestions and objections on the draft order by May 27, 2024. The draft has been published on their website, and feedback can be emailed to MahaRERA on secy@maharera.mahaonline.gov.in.
In the world of new housing projects, sale agreements often act as detailed blueprints outlining the construction process along with specifications, payment schedules, unit pricing, and handover dates. However, the agreement often misses the details about the promised amenities and facilities. While residents might be enticed by the vision of a swimming pool, gym, or a community centre, the agreement often remains silent on when these facilities and amenities will become available or what their specifications might be. This lack of clarity can lead to unfulfilled expectations and potential disputes in the future.
Section 4(2)(g) and 13(2) of RERA require promoters to submit sale agreements including project specifications, payment and possession timelines in prescribed formats. However, amenity availability dates were often omitted.
Sale agreements often outline project details but fail to provide crucial information about when the promised amenities will be ready. This lack of clarity can lead to disputes as developers do not build these structures for long periods. And there is a lack of an accountability system to check the timeline and the design parameters.
To boost transparency and accountability, MahaRERA is mandating that sale agreements include an annexure detailing all amenities ? including the design parameters and the timelines. This provision is proposed as irrevocable i.e., any changes made despite the consent of a homebuyer, will not be accepted by MahaRERA.
Recently, MahaRERA issued a circular and brought clarity on parking sale and usage. The MahaRERA made it clear that the promoters are not entitled to sell/allot open parking areas for monetary consideration. But with respect to garage/covered parking space, MahaRERA said that when sold/allotted for monetary consideration the details of such a parking space should be mentioned in the agreement for sale and it must be tagged to the allottees as well.
Now, with measures for all amenities and facilities, MahaRERA aims to protect homebuyer interests and facilitate dispute mitigation in the real estate sector. The lack of timelines and specifications for common areas, buildings and overall layouts often results in delays, substandard delivery or incomplete projects causing dissatisfaction among homebuyers. By making these details part of the legally binding agreement in a non-negotiable format, MahaRERA has taken an important step to protect buyer interests and reduce potential disputes in the future.
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