MOFA
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 [...] 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 »
According to the recent Bombay high court‘s order, housing society also has to be present to approve extra floor space index (FSI). This is due to changes in the recent development control rules. This norm also applies on a society which has not yet registered or the land has not been landed over by the [...] 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 »
