Housing regulatory authority
The rating system would entail the real estate developers to disclose many things. They would have to reveal the exact source of funding for all their projects and also the completion rate of the project every year. Builders turn ferocious against such grading system. This act came into power in the beginning of this year, [...] Continue Reading »
The experts have criticized the new housing regulatory bill in Maharashtra. Under the new housing regulatory bill, not only the developer but even flat buyers can be put behind bars and made to pay a fine if they fail to comply with the housing regulatory authority’s order. Experts feel there is nothing to cheer about [...] Continue Reading »
The government of Maharashtra decided to table the housing regulatory bill in the running assembly session. The assembly will discuss the bill but the passing of the bull is not yet confirmed. The builders are claiming to remove the direct jail terms in the proposed bill. The union ministry has refused to remove the provision. [...] Continue Reading »
Recently, Maharashtra Government has approved a plan of setting up a new housing authority. This means regularization of flats will be a mandatory procedure which in turn be a relief for buyers. The new act to be announced will replace the Maharashtra Ownership Flats (Regulations of promotion of construction, sale, management, and transfer) Act, 1963. [...] Continue Reading »
