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| Our Advocacy Impact: MahaRERA First to Take a Stand on Retirement Homes - Releases Draft Guidelines |
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| Dear Moneylifers, |
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| Greetings! This month we celebrate another issue that has inched forward. MahaRERA, the governing body of the real estate sector in Maharashtra, has recently issued draft guidelines inviting suggestions on regulation of retirement homes. |
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 By setting standards for service providers and developers, the guidelines issued by MahaRERA aim to enhance the overall quality of retirement homes and ensure a dignified living experience for senior citizens. The draft order mandates several key requirements that every retirement home project in Maharashtra must adhere to before being advertised as a "Retirement Home", including specifications for building design, green building principles, lifts and ramps, corridors, essential services, safety and security facilities. You can read more about it here: MahaRERA Proposes Stringent Regulations for Retirement Homes to Ensure Senior Citizen Safety |
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| This makes Maharashtra the first state to have acted on the basis of the model guidelines issued by the Union Ministry of Housing and Urban Affairs (MoHUA) in 2019. |
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| The senior living market is estimated at $10 billion and has been growing at around 10% as the country ages and every 5th Indian is now a senior citizen. Hence, the guidelines are an important first step in ensuring that retirement homes and retirement communities, which have seen an exponential growth since the Covid pandemic, follow basic rules and precautions when it comes to infrastructure and services. |
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 We are happy to say that we have played a role in pushing for the State to consider adopting these guidelines. Members would recall that Moneylife Foundation published a comprehensive study on retirement homes in 2017, which highlighted the need for regulation in the retirement homes sector. We then took it up with MoHUA and Union Minister Hardeep Singh Puri, MoHUA set up a multi-disciplinary committee, whose recommendations helped formulate the model guidelines issued by the ministry. Moneylife Foundation's trustee was a member of this committee. |
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| The MoHUA model guidelines were designed as a framework for states and Union Territories to establish transparent and accountable regulatory mechanisms tailored to the specific needs of retirement home residents. However, implementation across each state has been delayed due to various reasons, including the COVID-19 pandemic. |
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| Maharashtra's Stamp Duty Amnesty Scheme |
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 Last month, we hosted an important webinar with renowned chartered accountant and a well-known authority in housing society matters, Mr Ramesh Prabhu. It was organised with the intention of providing valuable insights into Maharashtra's Stamp Duty Amnesty Scheme, offering guidance on eligibility, the application process and benefits offered. If you have missed this important webinar, you can still watch a video recording on our YouTube channel here: https://www.youtube.com/watch?v=ryvhnjSQQV8 and also read about the scheme here: Maharashtra's Stamp Duty Abhay Yojana Now Active, but Time Is Running Out |
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| While the amnesty scheme is due to end this month, Mr Shirish Shanbhag our counselor for such matters is available to offer any guidance regarding the application process. Interested members can either write to him through our Legal Helpline or seek a counseling appointment by calling our office during business hours – (022) 35131664 or (022) 35036925. |
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| File your RTI Applications with Expert Guidance |
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| RTI Advice App पर विस्तृत गाइड से विशिष्ट उपयोग के मामलों के लिए आरटीआई आवेदन दाखिल करने का तरीका जानें। हिंदी और मराठी भाषाओं में उपलब्ध। |
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| Many of you are already aware of our 'RTI Advice' app, which was launched for both android and iOS devices a year ago. The app helps you get expert advice on your RTI queries in any language or format (text, audio or video) and access to over 900 queries that are already asked and answered by our 14 highly regarded RTI experts. |
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| We have user guides for you in English, Hindi and Marathi! Download the app or access the guides from our website here. |
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| Moneylife TV & Helplines |
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| Financial Literacy Videos in Indian Languages: |
- Credit cards
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- Fallacy of gold loans and more in Marathi, Gujarati, Punjabi and Tamil, all on our YouTube channel (https://www.youtube.com/moneylifetv).
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| Get guidance and counselling through our Legal Helpline or Credit Helpline. |
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| Sucheta Dalal |
| Founder-Trustee, Moneylife Foundation |
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| Trustees: TS Krishnamurthy, Walter Vieira, Sucheta Dalal, Debashis Basu. | | | | Moneylife Foundation is registered with the Charity Commissioner of Mumbai, is an Affiliate member of OECD's International Network on Financial Education, is a Supporter Member of Consumers International, Development Partner of Advocates for International Development (A4ID), and is a winner of the 10th MR Pai Memorial Award. | | |  | | | | Donations are eligible for tax benefits under Sec 80G of the Income Tax 1961 (50% tax exemption) and MLF is registered under the Foreign Contribution (Regulation) Act, 2010. 80(G) Reg No: DIT(E)/MC/80G/685/2010-11 dated 7.2.11 effective 8.+9.2010 | FCRA Registration No: 08378138  | | | |
