Maharashtra Housing Bill 2012 gets approval
The Maharashtra Housing Bill 2012 has finally been passed by both Houses of the Maharashtra legislature, which sets the stage for the development of the country’s first housing regulator and appellate board with substantial powers to protect the consumer and penalize the builders in case of any offense.
The Bill has laid down the rules for the promoter or builder besides providing enough teeth to the Housing Regulatory Authority (HRA) to protect homebuyers from unacceptable practices of builders.
There are many points in favourable to home buyers through this Bill. If a buyer suffers loss due to promoter’s fault, if a buyer withdraws from a project, if there is any defect in building, etc. then buyers get better solution through the Bill.
And there are factors which are applicable for builders – no promoter can start sale of flats in a new project or its phases without displaying it on the HRA website; promoters shall enter into separate agreements with architect and engineer; and many more points are covered in the Bill.
To read more real estate news:
Bureaucrat sets right construction approval system
Real estate regulatory bill is passed in Andhra Pradesh Assembly
Source: The Indian Express
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