Developers apprehensive of regulatory bill
Developers in Maharashtra seem to be apprehensive of the regulatory measures proposed by the state and central government.
As the developers already have disclosed their presentiment about the state government’s housing regulatory bill, the presentiment deepens as the centre is now set to introduce its own regulatory authority for the real estate sector.
Maharashtra Chamber of Housing Industry (MCHI-CREDAI), has expressed that the Maharashtra Ownership of Flats Act (MOFA), which is the prevailing regulatory mechanism in the state, addresses all the concerns of all stakeholders and feels that more than one regulatory authorities will only lead to ‘license raj’.
Even consumer groups seem to be skeptical about the functioning of multiple regulatory authorities.
Central government, Developers, housing bill, housing regulatory bill, Maharashtra, Maharashtra Chamber of Housing Industry (MCHI-CREDAI), Maharashtra government, Maharashtra Ownership of Flats Act (MOFA), Mumbai, Real Estate Regulatory Authority Bill, regulatory measures
