By Amika 

Pune: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has made it mandatory for real estate developers to mention the exact date by which facilities and amenities will be made available to homebuyers as well as the area they will cover in Annexure-I of the Agreement for Sale along with the expected date of obtaining the occupancy certificate (OC).

This provision, which is expected to help homebuyers, is non-negotiable and developers will not be at liberty to alter the same, the MahaRERA said in a statement on July 31.

MahaRERA has also made it mandatory for developers to provide details whether it is a project being constructed by the developer or has been acquired, if the project is free of Floor Space Index or not as per the rules and regulations of the local planning bodies, said the MahaRERA statement.

Mr. Boman Irani, President, CREDAI

Developers support all initiatives towards transparency & information to our consumers. MahaRERA's recent mandate ensures that there is accountability in delivering promised facilities and amenities. This is crucial for fostering trust and confidence among homebuyers. By specifying delivery dates and providing comprehensive details in the agreement, we aim to set a higher standard in the real estate industry and safeguard the investments of our valued customers. This decision not only protects homebuyers but also strengthens the integrity of our projects and the overall asset class making it a more attractive investment

Mr. Domnic Romell, President, CREDAI-MCHI, the apex body of the real estate industry in the Mumbai Metropolitan Region (MMR):

We fully endorse MahaRERA's latest directive, which is a significant step towards ensuring transparency and accountability in the real estate sector. By mandating clear timelines and detailed information on facilities and amenities, this initiative will greatly enhance trust between developers and homebuyers. We are committed to meeting these standards and delivering on our promises, thereby protecting our customers' investments and elevating industry practices.

Mr. Dhaval Ajmera, Secretary, CREDAI-MCHI, and Director, Ajmera Realty & Infra India Limited

The MahaRERA order is a significant development in the real estate sector, providing stability and boosting the confidence of homebuyers. It requires detailed disclosure of amenities with clear deadlines, giving consumers essential information for making informed decisions. This transparency not only protects buyers' interests but also strengthens the trust RERA has worked to rebuild within the sector. Standardizing agreements and non-negotiable clauses ensure fairness, turning promises into tangible results. As the real estate sector in India continues to grow, these reforms enhance its fundamental value, giving homebuyers the confidence they deserve when making one of life's most significant investments. We as a long-term developer will embrace these changes, setting an example for others to follow and helping customers make the right choice.

Mr. Deepak Goradia, Chairman & MD, Dosti Realty Limited and Past President, CREDAI-MCHI

We welcome to new Order regarding amenities to be included in the Agreement for Sale Annexure 1 issued by MahaRERA. The customers will be benefitted by the assurance of pre-defined date for enjoying the amenities to be provided by the Developer at the sale stage itself. This Order is beneficial to both the Developers as well as the end consumers leading to increased accountability by Developers, more transparency to customers. 

In case of larger layouts or township projects, where amenities are developed phase-wise, some changes in amenities or additional amenities are given, these things happen in the layout due to design changes, which has to be considered by the authorities, where 2/3rd approval may become a hassle for the developers.

Mr. Rohit Gera, Managing Director, Gera Developments 

The decision by the RERA authority to make disclosure of the completion dates of all amenities in the project is a welcome one. 

Given that the size and the scale of projects are now increasing, and projects are being done in phases, it is important that customers are aware of what amenities they will get at what point in time. This transparency will help consumers in taking the decisions with regards to their home buying.