MahaRERA Floats Model Guidelines on Regulation of Senior Living Projects
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has recently introduced model guidelines for the regulation of senior living projects. These guidelines aim to ensure that housing projects for retired and senior citizens meet their basic requirements. This is a significant step, as it is the first time a real estate regulatory authority in India has issued provisions specifically for retirement housing projects. Addressing false advertising MahaRERA drafted these guidelines in response to feedback that many developers were falsely advertising their projects as “Retirement Homes” while failing to meet the necessary standards. The guidelines will now require developers to include special provisions in the Agreement for Sale and other relevant documents to ensure that senior citizen housing projects are built according to the model guidelines.
