Mumbai Real Estate Industry Applauds Collaboration for Clarity on Staircases and Lifts

The Mumbai real estate sector is welcoming recent collaborative efforts between the Maharashtra Real Estate Regulatory Authority (MahaRERA) and CREDAI-MCHI, a prominent industry body, aimed at providing clarity on staircase and lift well calculations in building projects. This move is anticipated to bring transparency and fairness to construction projects, benefiting both developers and homebuyers.

Domnic Romell, President of CREDAI-MCHI, commended the organization's proactive stance in advocating for regulatory clarity in Mumbai's real estate landscape. He emphasized the importance of such initiatives in ensuring a conducive environment for development.

Previously, the absence of clear guidelines on the inclusion of staircases and lift wells in a building's carpet area led to ambiguity and potential disputes, impacting project costs. MahaRERA and CREDAI-MCHI collaborated closely with the urban development department of the Maharashtra government to seek clarification on these critical issues, resulting in the implementation of specific regulations.

The newly introduced regulations, such as Regulation 48(5)(A) of the Development Control and Promotion-Exchange Rules, 2034, address concerns by specifying that only the first staircase in a high-rise building is included in the carpet area calculation, with additional staircases subject to specific provisions. Additionally, following the National Building Code, the area occupied by lift shafts is excluded from the carpet area calculation on the same floor where the lift opens. These clarifications offer significant advantages for various stakeholders in the Mumbai real estate market, ensuring fair pricing, reducing uncertainties, and fostering trust among homebuyers and developers alike.

Source: propnewstime.com

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