MahaRERA — Draft rules for senior citizen homes

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has created model rules for building housing developments for senior folks and retirees, a first for an Indian housing authority.

This is to make sure that housing developments that identify as senior citizen-friendly actually follow through on their claims to target this age group.

As per the February 2, 2024, MahaRERA circular, numerous promoters are misrepresenting their real estate projects as “retirement homes,” hence deceiving prospective allottees. Many of these developments don’t meet the minimal requirements in terms of architecture and design required for senior citizen housing.

The “Agreement of Sale” and other pertinent contracts must incorporate certain unique terms involving senior homes, according to the ministry of housing and urban affairs, which has released model guidelines.

Every project must follow the model requirements created by MahaRERA in order to be advertised as a “Retirement Home, Senior Home, or Equivalent.”

By February 29th, stakeholders have the opportunity to provide MahaRERA with their feedback on the model guidelines at suggestions.maharera@gmail.com. The guidelines would have to be complied with right away when they were put into place in order to avoid any penalties.