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August 14, 2026
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MahaRERA Mandates Deadlines for Delivery of Facilities in Housing Projects

News Room /

Mumbai, 31st July 2024: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has taken a significant step towards enhancing transparency and accountability in the real estate sector by mandating that developers specify deadlines for the delivery of facilities and amenities in housing projects. This directive, announced today, aims to address long-standing concerns about the availability of promised amenities and ensure that homebuyers receive what they were promised. According to the new regulation, developers must include a detailed schedule of facilities and amenities in Annexure-I of the Agreement for Sale. This annexure, part of the official sales document registered with the government, will now outline the delivery dates for various amenities such as swimming pools, tennis courts, gymnasiums, clubhouses, and more. The directive is designed to prevent developers from delaying or neglecting the promised features of a project. “In the past, developers often advertised attractive amenities but failed to deliver them in a timely manner,” said Ajoy Mehta, Chairman of MahaRERA. “Our new regulation requires developers to specify when these facilities will be available. This change will provide homebuyers with clarity and ensure that developers are held accountable for their commitments.” The new rule also addresses projects that are developed in multiple phases. Developers are now required to provide phase-wise timelines for the completion of amenities, ensuring that residents of earlier phases are informed about the availability of facilities. This provision is intended to prevent frustration among residents who might otherwise be left waiting for promised amenities until the final phase of construction. Furthermore, any major changes to the location or number of facilities will require approval from MahaRERA. If the changes affect the amenities significantly, developers must obtain consent from two-thirds of the affected residents. This measure is designed to prevent unilateral alterations that could impact the quality of life for residents. The new regulations will be applicable to all registered housing projects with immediate effect. Existing Agreements for Sale will remain in force as per their original terms, but the new provisions will apply to all future transactions. MahaRERA has also introduced a model format for Annexure-I to assist developers in complying with the new requirements. Previously, the Agreement for Sale focused primarily on the cost of the apartment, payment plans, and penalties for defaults. It did not include specific details about the timing of amenities, often leading to discrepancies between what was promised and what was delivered. “This measure will eliminate the uncertainty surrounding the availability of amenities,” Mehta added. “Just as developers are obligated to deliver apartments on time, they will now be required to meet deadlines for amenities. This will enhance transparency and protect the interests of homebuyers.”

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Experience the difference in your living space with Tayal Corp.

Cover Story /

A true living experience combined with the philosophy of making a difference in the world is a truth profoundly understood by Tayal Corp., a real estate company formerly known as Unique Spaces. With this transformed identity but the same ethos of honesty and transparency, over the past 12+ years, they have completed more than 1,000+ residential apartments and commercial spaces, delivering 1.6+ million sq. ft.  of space through 10+ landmark projects, bringing happiness to more than 1,500+ families. As a result, Tayal Corp. is now a force to reckon with in Pune’s realty landscape. With a steadfast approach and commitment to outperform the rest, Tayal Corp’s team of energetic individuals moves along the same tangent. Their visionary approach towards work has become the very DNA of the company. Their guiding principle, “Built to Differ,” is more than just a tagline; it underscores their unwavering commitment to innovation and truly bringing a difference to the lives of people. Being an architect himself, Sumit Tayal, Managing Director & Founder of Tayal Corp., is not merely a real estate developer; he is a distinctive leader, an empath by nature, and a visionary who recognises the transformative power of space, delivering trailblazing developments for the city to witness. “Change is the only constant. It motivates us to strive for something new. Ours isn’t just a new name; it’s a forward stance, and a commitment to offer something different and distinct, crafting ventures that are more memorable than the rest.” Sumit Tayal, Managing Director, Tayal Corp Driven by a collective team spirit that fuels innovation, they constantly challenge conventions and exceed expectations. Partnering with Tayal Corp. ensures an experience that consistently surpasses expectations—a seamless investment journey with complete transparency, ensuring a reliable process from start to finish. With financial integrity, Tayal Corp. promises ease of transactions. To add a cherry on top, they offer better accessibility and ease of approach through their seven-day-a-week office timings, keeping in mind the busy schedules of people. Their response time is impeccable, with an emphasis on a good customer experience. They ensure timely deliveries and early possession of their projects, namely various phases of K Ville, K Town (Kiwale) and K City, (Keshavnagar), and are always located in bustling areas with ample infrastructure for comfortable living. With Tayal Corp., buyers can trust in a smooth and rewarding experience—truly building a difference. The dedication to innovate and shape the out-of-the-ordinary takes center stage in their three distinct realty brands offered by Tayal Corp.: K Better Homes, Flow, and Envogue. Each brand caters to a specific segment of the real estate market, yet all are united under the same grand opus – the transformation of Pune’s urban landscape. K-Better Homes represents an ever-rising crescendo of luxury living, with a profound belief in Karma that paves the way for doing the right things with a conscious work ethic. These residences are meticulously designed to not only meet, but also exceed the very aspirations of discerning homeowners. Spread across major pockets of Pune – namely Kiwale, Punawale, Bavdhan, and Keshavnagar – they cater to the premium residential segment. Flow emphasizes next-gen living with its premium retail spaces spread across major areas of Pune City. Envogue, being in stark contrast to everything mundane, introduces a never-seen-before twist into residential spaces, challenging conventional norms in real estate in terms of design, aesthetics, and lifestyles. Individually, these brands are like powerful instruments, each leaving its own distinct mark on the cityscape. “We push boundaries. We constantly strive to break the parameters of excellence, driven by a collective team spirit; a force that’s unstoppable.”  Sumit Tayal, Managing Director, Tayal Corp. Tayal Corp.’s influence extends far beyond the aesthetics and functionality of their creations. They are the architects of a vision—a future where real estate transcends its physical form to become a catalyst for positive social and environmental change.

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Empowering Developers with RERA Easy: Streamlining MahaRERA Compliance

Realty Blogs /

“By ensuring seamless MahaRERA compliance and providing efficient grievance redressal, RERA Easy empowers developers for sustainable growth and success. Trust RERA Easy to confidently navigate regulations and build a strong foundation for your real estate ventures.” In Maharashtra’s dynamic real estate sector, RERA Easy helps developers navigate the complexities of the Real Estate (Regulation and Development) Act, 2016 (RERA). RERA Easy ensures regulatory compliance, smooth project execution, and enhanced credibility for developers. Understanding MahaRERA’s Grievance Redressal Mechanism MahaRERA recommends promoters set up a Home Buyer/Allottee Grievance Redressal Cell with a designated officer to handle complaints. This mechanism aims to resolve issues promptly, enhancing customer satisfaction and improving project ratings.   RERA Easy: Streamlining Grievances, Elevating Trust RERA Easy offers developers a comprehensive web-based solution for grievance redressal. The platform addresses complaints and analyzes grievances with the help of expert technical and legal teams, providing effective solutions. Our legal professionals help developers avoid future legal issues and handle compliance matters, enhancing customer satisfaction and boosting the overall brand image. About RERA Easy Founded in 2017, RERA Easy is a leading consultancy firm in Maharashtra specializing in RERA compliance. The firm has a team of Chartered Accountants, Advocates, and Engineering Experts. With a 10% market share, over 2,000 clients, 3,000+ registered projects, and 10,000+ Quarterly Progress Reports (QPRs), RERA Easy has managed projects exceeding 200 million sq. ft. The firm’s team of over 80 professionals ensures timely delivery, enhanced customer satisfaction, and a strong brand image for developers. Key Services Offered RERA Registration: Ensures hassle-free registration of real estate projects with MahaRERA. Successfully registered over 3,000 projects. Compliance Updates: Manages RERA’s quarterly reporting requirements, having submitted over 10,000 QPRs on behalf of clients. Legal and Documentation Services: Offers robust legal services, from title verification to litigation support, ensuring developers meet all regulatory standards efficiently. Conciliation Forums and Dispute Resolution: Leverages MahaRERA’s conciliation forums to resolve disputes quickly and cost-effectively.   Benefits for Developers Prompt Resolution of Grievances: Maintains project timelines and minimizes disruptions. Enhanced Reputation and Trustworthiness: Effective grievance redressal enhances credibility. Cost-Effective Solutions: Reduces financial risks associated with legal battles and regulatory non-compliance.   Strategic Partnership with RERA Easy RERA Easy’s expertise and comprehensive support make it an invaluable partner for developers. The firm provides tailored guidance and streamlined management of all registration and compliance-related activities.   About Shantanu Kuchya Shantanu Kuchya, Founder and CEO of RERA Easy, is a seasoned expert in real estate with a profound understanding of RERA legalities. As a civil engineer and lawyer, Shantanu combines technical and legal expertise, offering unparalleled insights into the real estate sector. His leadership and visionary outlook drive RERA Easy’s success, ensuring top-notch compliance and client satisfaction.   For more information, please contact Shantanu Kuchya at shantanu@reraeasy.com

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Unlocking the Potential of Property Investment in Thailand: A Guide by World Wide Properties

Realty Blogs /

  In an increasingly globalized economy, property investment has become a key avenue for financial growth. One promising destination for real estate investment is Thailand, a market with significant potential for high returns. World Wide Properties Limited Company, registered in Thailand, alongside Aardishi Enterprises LLP, a RERA-registered company in India, has been at the forefront of promoting awareness about property options in Thailand for over a decade.  The Vision Behind World Wide Properties  The journey of World Wide Properties began in 2010 when three partners—Nikhil Nagarkar, Ashutosh Dole, and Sandeep Sahasrabudhe—embarked on a trip to Thailand. Their initial investment there sparked interest among their relatives and friends, leading them to establish a firm that now represents Thai real estate interests in India. Their mission is clear: to educate potential investors about the lucrative opportunities in Thailand’s property market.  Why Invest in Thai Real Estate?  Whenever the subject of overseas real estate arises, everyone looks at Dubai. However, Thailand, specifically Pattaya, is an excellent alternative destination for investing in condominiums. The reasons to invest overseas include higher rental yield, moderate capital appreciation, and the game-changer of currency appreciation. On the conservative side, one can expect more than a 15%* ROI on investment, provided the proper project is selected. The advantages of investing in Thailand start with easy travel requirements like no visa, comparatively affordable currency exchange rates, and being a world city, one can enjoy all types of cuisines, attracting more and more people every year.  Legal Framework and Investment Security  Thailand’s property laws are designed to protect foreign investors. Investors can purchase flats or invest in properties under the foreign quota, which remains secure even during governmental changes. These properties can also be passed down to the next generation, ensuring long-term security for investors and their families.    Indian Regulations and Investment  Under the current regulations of the Indian government and the Reserve Bank of India (RBI), individuals can invest up to USD 250,000 in immovable property abroad using a single PAN card every year. This allowance provides a substantial opportunity for Indians to diversify their investment portfolios internationally.  Comprehensive Support from World Wide Properties  World Wide Properties offers a complete range of services to facilitate property investment in Thailand. From currency exchange and banking transfers to property management and rental services, their Thailand office provides end-to-end support. This one-stop solution ensures that investors are guided through every step of the process, making international property investment seamless and stress-free.    The Promise of High ROI  The core message from World Wide Properties is clear: Thailand offers one of the highest ROIs for property investment compared to India. For potential investors, it is crucial to consider the long-term benefits and financial growth opportunities that come with investing in Thai real estate.    Conclusion  For those looking to expand their investment horizons, Thailand presents a compelling case. With the expertise and comprehensive support of World Wide Properties and Aardishi Enterprises LLP, investors can navigate the Thai property market with confidence. As awareness grows, more investors are likely to recognize the untapped potential of Thailand’s real estate, unlocking significant financial returns and long-term security.   Nikhilesh Nagarkar Director, WorldWide Properties nikhileshnagarkar@gmail.com

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Maximizing Tax Benefits: An Overview of Section 54 of the Income Tax Act

Realty Blogs /

  Introduction to Section 54 Section 54 of the Income Tax Act provides relief to taxpayers who sell their residential property to acquire another suitable house, aiming to ease the burden of capital gains tax.   Basic Conditions for Section 54 Applicable to individuals and HUFs only. The property sold must be a long-term capital asset, specifically a residential house. Within one year before or two years after selling the old house, the taxpayer must purchase another residential house. Alternatively, construction of a new house must commence within three years from the sale date.   Limitations and Eligibility Exemption can be claimed for the purchase or construction of one residential house property in India. It does not apply to houses purchased outside India.   Amendments and Additional Options From Assessment Year 2021-22, amendments under the Finance Act, 2020 allow exemption for investment in two residential properties if the long-term capital gains do not exceed Rs. 2 crores. This dual-property exemption option can only be exercised once in the taxpayer’s lifetime, precluding any future claims.   Illustrative Example Example scenario involves Mr. Swapnil, who sold his residential house in January 2023 and purchased two new houses in February 2022 and March 2024, respectively. Emphasis on the conditions of timing for purchasing the new house to qualify for Section 54 exemption.   Conclusion Section 54 serves to mitigate tax liabilities arising from the sale of residential property, enabling taxpayers to reinvest in residential real estate without immediate tax consequences. Amendments enhancing flexibility by allowing exemptions for two residential properties under specific conditions ensure the fair application of tax laws while supporting taxpayer objectives. In summary, Section 54 of the Income Tax Act provides crucial relief to individuals and Hindu Undivided Families (HUFs) facing capital gains tax upon the sale of residential property. By reinvesting the proceeds in another residential property within specified timelines, taxpayers can mitigate tax liabilities effectively. The section ensures that the primary objective of such transactions is to facilitate residential relocation rather than generate taxable gains. Recent amendments have expanded the scope of this provision, allowing exemption for investments in up to two residential properties under certain conditions, thus offering greater flexibility to taxpayers. This measure acknowledges the practicalities of real estate transactions while maintaining the integrity of tax policies.   Key Takeaways Section 54 of the Income Tax Act exempts individuals and HUFs from capital gains tax on the sale of a residential property if the proceeds are reinvested in another residential property within specified timelines, promoting residential relocation without immediate tax implications. Recent amendments allow exemption for investment in two residential properties under certain conditions, up to a total long-term capital gain of Rs. 2 crores, but this dual-property benefit can only be availed once in a taxpayer’s lifetime. This provision aims to balance tax liabilities with the incentive to invest in residential real estate in India, ensuring fair application of tax laws while supporting taxpayer objectives and real estate market dynamics.   CA Amit Deepak Chordia Partner, SMC & Associates caamitchordia@gmail.com

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Real Estate: The Growth Story

Realty Blogs /

  Dr.Atul Goel The story of settlement and property ownership began when our ancestors decided to abandon the nomadic life of hunter-gatherers. They settled down, built dwellings, and marked spaces as their own. The story unfolded further as ownership of land or space became a marker of wealth and fortune. Empires came into existence by acquiring more and more land. India is no different in this regard. The story of modern-day real estate started with the advent of private land and property ownership. It no longer remained within the purview of only the wealthy. The Industrial Revolution, urbanization, and progress impacted its evolution, with infrastructural development coming into the picture. India’s real estate sector underwent major changes in the post-independence era. Public housing projects were launched by the government in the 1950s and 1960s to provide housing. Cities expanded, and the urban population grew manifold. No wonder housing remained a problem that needed a solution. The emergence of private developers brought a huge relief. A major shift happened. Apart from private housing gaining more and more popularity, the development of new real estate segments like luxury housing, commercial real estate, etc., also occurred. Today, the real estate sector is the second-highest employment-generating sector in India. Valued at USD 477 billion, it contributes approximately 7.3% to the country’s GDP. It is showing an exponential growth trend and is expected to reach USD 1 trillion by 2030. From retail to hospitality, commercial space to infrastructure, the sector is contributing immensely to our country’s growing needs. Experts predict that it will contribute about 15.5% to India’s GDP by 2047. As I always say, every development we think of is related to real estate. From housing to infrastructure, real estate is the solution to every problem we have. Take the example of Pune, my own city. It transformed from a quaint town into a happening city ever since it became an IT hub—a real estate development. It experienced phenomenal growth over the years with a real estate market driven by a strong demand for home ownership, a supportive business landscape, and large-scale infrastructure development. Last but not least, real estate has always been one of the best tools for wealth creation. From the great emperors to modern-day billionaires, every wealthy person has created their wealth through real estate. A tangible investment of low risk with the potential for consistent appreciation and income generation, it has always been a pillar of wealth creation. The implementation of the Real Estate Regulation & Development Act 2016 (RERA) in India has made it the safest tool for investment ever. When we invest in real estate, we not only create personal wealth but also invest in the growth of our city and contribute to our nation’s progress. That’s how it works!

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