Maharashtra Housing Regulation and Development Bill-Will it help?

Legal Head at Sky Properties
Mayur is a real estate professional based in Navi Mumbai for the past 20 years. His expertise in real estate includes every sphere of the real estate sector from legal to Building Construction to Vastu to home interiors.
When it's not real estate, its either his fight against corruption or pulling focus (film making) with his NIKON D750 that keeps him busy.
With over 9 million views of his pictures on Google Maps and over 1.3 crore views of his contributions, he has been designated as a Master Photographer by Google.
He can be reached on 9987452642

Until now, the purchase and sale of real estate in Navi Mumbai and the rest of Maharashtra was governed by something called the MOFA (Maharashtra ownership of flats act) enacted in 1963. Just like laws in other states. But on 11th April, 2012, the Maharashtra govt introduced a new law to govern all real estate transactions in Maharashtra.Called the Maharashtra Housing Regulation and Development bill, this bill seeks to remove the lacunae in the previous law (MOFA),and seeks to finally give flat purchasers an upper hand when dealing with builders and real estate companies. It seeks to establish a Housing Regulatory Authority (HRA) and a Housing appellate tribunal to ensure the proper implementation of the law. The law seeks to end the countless hazards and scams facing the real estate buyer today like: False commitments on delivery Shoddy construction quality False promises in terms of area, facilities, amenities, fsi etc Utilization of funds obtained from buyers in a particular project for accumulating land parcels rather than in construction of the said building It seeks to do this via imposition of fines ranging from Rs 1000 to Rs 1 crore.The punishment for not registering a project with the HRA will cost the developer Rs 1000…

WeCreativez WhatsApp Support
Send a whatsapp msg
👋 Hi, how can I help?