Maharashtra Ownership Flats Act
In order to become owners of the land on which the buildings are constructed, residents are claiming to get deemed transportation as alleged by a senior civic official. Supreme Court (SC) has given four weeks to the Brihanmumbai Municipal Corporation (BMC) to consider the residents’ plea for regularisation for the relief of the unauthorised flats [...] Continue Reading »
Mumbai- Although the sate and central government is making fresh norms to protect home buyers from the greedy builders but consumer activists feels that they are very much comfortable with the existing laws. They doubt the success of new laws and believe that the existing laws are enough to guard them from frauds. The existing [...] Continue Reading »
The Maharashtra Housing Regulatory Development authority (MHADA) released a notification to reserve 20 percent of space for the weaker section of the state. As the state aims to provide home for the all sections of people in Maharastra. The government made it as an appeal to the real estate builder community to help people of [...] 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 »
Amid higher costs, slow demand and regulatory hurdles, many builders in the country’s hottest property market-Mumbai, are inserting new clauses to palm off some of the uncertainties to buyers. The allotment letters given to home buyers contain clauses like provisions for cost escalation, project abandonment, inability to commence construction, and also eventuality of non-disbursal of [...] Continue Reading »
The Brihanmumbai Municipal Corporation (BMC) is making it compulsory for builders to submit the building plan based on carpet area only.The concerned departments, Revenue and Urban Development, have been given instructions in this regards. Making it tough for builders to flout norms while selling flats, Maharashtra Government would make compulsory submission of building plan to [...] Continue Reading »
The Supreme Court has that ruled builders/promoters cannot sell parking areas in the stilt area as independent units as the same is to be extended as “common areas and facilities“ for the owners. The apex court passed the judgment while dismissing the appeal of the promoter, Nahalchand Laloochand Pvt Ltd, challenging the Bombay High Court [...] Continue Reading »
