In a first for a housing regulator in India, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has drafted model guidelines for constructing housing projects for retired and senior citizens.
This is to ensure that housing projects that claim to target the senior citizen age group also adhere to being senior citizen-friendly.
According to a circular issued by the MahaRERA on February 2, 2024, it has received feedback that many promoters are wrongly advertising their real estate projects as ‘retirement homes’, misleading potential allottees. Many of these projects, do not adhere to the minimum physical standards and specifications needed for residential purposes for senior citizens.
The ministry of housing and urban affairs had issued model guidelines and had specified that states and UTs may pronounce some special provisions regarding retirement homes that have to be covered under the ‘Agreement of Sale’ and other relevant documents.
The MahaRERA has drafted model guidelines that every project must adhere to for advertising as ‘Retirement Home or Senior Home or equivalent’.
Stakeholders can send their feedback regarding the model guidelines to MahaRERA by February 29 at firstname.lastname@example.org. Once implemented, the guidelines would have to be followed with immediate effect to avoid any kind of penalty.