22/08/2024
Key Points of MahaRERA Order No. 54/2024
MahaRERA Order No. 54/2024, issued on April 29, 2024, aims to enhance transparency and reduce disputes related to parking space allocation in real estate projects. The order mandates developers to provide detailed information about parking spaces in sale deeds and allotment letters, including:
Transparency in Allocation
Developers must provide the number, type, and dimensions of parking spaces in both the allotment letter and sale agreement.
Definition of Dimensions
The term 'size' now includes length, breadth for open areas, and vertical clearance for covered spaces like basement, podium, stilts and mechanised parking.
Documentation Standards
An approved parking layout plan must be annexed to relevant documents, offering a visual representation for the allottee.
Ensuring Compliance
The order emphasizes incorporating specific clauses in the allotment letter and sale agreement, supplementing previous directives like Order No. 36/2021 and Order No. 38/2022.
This order builds upon previous regulations to ensure compliance and clarity for buyers and developers alike, fostering a more harmonious real estate environment by minimizing disputes and promoting transparency in parking space allocation.
