Maharera Mandates Strict Parking Rules

20 May 2024 CW Team

Maharashtra Real Estate Regulatory Authority (Maharera) has implemented new regulations aimed at addressing parking-related disputes in residential and commercial developments. This initiative underscores Maharera's commitment to enhancing transparency and resolving common grievances within the real estate sector.

The new rules mandate that developers clearly specify the number of parking spaces allocated to each apartment or commercial unit in their projects. Builders are required to adhere strictly to these specifications, ensuring that homebuyers and commercial property owners receive the parking facilities as promised during the sale of the property.

According to Maharera officials, the introduction of stringent parking regulations aims to prevent conflicts arising from ambiguous or misleading information regarding parking provisions in real estate projects. By mandating clear and transparent disclosures, Maharera seeks to protect the interests of property buyers and promote fair practices within the industry.

The regulatory authority emphasises that adherence to the new parking guidelines is mandatory for all ongoing and future real estate developments across Maharashtra. Developers failing to comply with these regulations could face penalties or other regulatory actions to enforce compliance.

Stakeholders, including developers, property buyers, and industry experts, are expected to benefit from these measures, which aim to improve clarity and accountability in parking allocations within residential and commercial properties. The move reflects Maharera's proactive approach to addressing common issues and enhancing consumer confidence in the state's real estate market.

The implementation of strict parking regulations by Maharera is seen as a step towards strengthening regulatory oversight and promoting fair practices in property transactions across Maharashtra.

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