The Maharashtra Real Estate Regulatory Authority (MahaRERA) emerged as a proactive force in 2024, introducing multiple measures to protect homebuyers and enhance trust in Maharashtra’s real estate sector.
The initiatives came under the leadership of both former chairman Ajoy Mehta, who retired in September, and his successor Manoj Saunik, ensuring continuity in homebuyer-focused reforms.
Ajoy Mehta, who served as MahaRERA chairman until September 2024, launched his book, RERA – A Perspective, shedding light on ongoing challenges within the real estate industry. In the book, Mehta discusses “horror stories” where buyers invested in projects lacking proper approvals.
He specifically criticized the practice of developers selling premium flats on higher floors without securing mandatory civil aviation clearances. “It must be understood that while a plot may have the potential to be built up to a certain height, this was, however, possible only if it was subject to civil aviation clearances,” Mehta writes.
Landmark Policies Introduced in 2024
In September 2024, MahaRERA mandated real estate developers to include comprehensive parking details—such as size, height, and width—in sale agreements and allotment letters. This policy aims to address complaints from homebuyers about issues like inadequate manoeuvring space or obstructed parking slots.
To combat delays in the provision of promised amenities, MahaRERA issued an order in July 2024 requiring developers to specify delivery timelines, as well as details like the size and location of amenities in agreements. The directive seeks to ensure that buyers receive exactly what was promised at the time of booking.
In April 2024, MahaRERA introduced a framework for appointing third-party agencies to audit construction quality throughout various project stages. This ensures that quality concerns, such as apartment leakages, are addressed proactively before possession.
MahaRERA became the first regulator in India to establish guidelines specifically for senior citizen housing projects in May 2024. These cover accessibility, safety features, and green principles, among others. Developers must include these provisions in sales agreements and associated documents.
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