New realty law to help buyers and builders: CREDAI
Speaking recently at a workshop organized by Confederation of Real Estate Developers Associations of India (Credai) – National for builders in Pune, Satish Magar, vice-president of the agency said that The Maharashtra Regulatory & Development Act (MHRDA), 2012, is committed to bring more transparency and accountability, thus, helping both builders and property buyers.
Magar said that the Maharashtra ownership Flat Act (MOFA), 1963, which is the present legislation, is more than 50-years-old. Therefore, he added that the introduction and implementation of the new act was the need of the hour. He went on to add that the MHRDA will not only repeal MOFA which lacked transparency but also it promises to clear issues which occur during registration procedures.
Vice-president of Credai-Maharashtra, Shantilal Kataria, who was the coordinator for the workshop, said that Credai felt that it was important to explain the provisions of this act to the member builders across the state.
Source : The Times of India
accountability, Builders, Buyers, Confederation of Real Estate Developers' Associations of India, CREDAI, Maharashtra, Maharashtra ownership Flat Act, Maharashtra Regulatory & Development Act, MHRDA, MOFA, Property, Pune, Registration, Transparency
