Bid to protect homebuyers | CREDAI-MCHI, realtors support MahaRERA mandate on delivery, occupancy certificate

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 local planning bodies, said the MahaRERA statement.

Boman Irani, President, CREDAI, said, “Developers support all initiatives towards transparency and 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.”

Dhaval Ajmera, Secretary, CREDAI-MCHI, and Director, Ajmera Realty and Infra India, said the MahaRERA order was a significant development in the real estate sector, providing stability and boosting the confidence of homebuyers. He said, “It gives 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.”

Deepak Goradia, Chairman and MD, Dosti Realty Limited and Past President, CREDAI-MCHI, said customers will benefit by the assurance. “We welcome the new order regarding amenities to be included in the Agreement for Sale Annexure 1 issued by MahaRERA. This order is beneficial to both 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,” he added.

Rohit Gera, Managing Director, Gera Developments, welcomed the decision by the RERA authority to make disclosure of the completion dates of all amenities in the project. “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,” he said.