By Accommodation Times Bureau
Mumbai: The Maharashtra Ownership Flats (Regulation of the promotion of construction, sale, management and transfer) Act 1963 was meant to provide relief to flat purchasers against sundry abuses, malpractices and difficulties related to the construction, sale management and transfer of flats, and it has been brought to the notice of the State Government that, the Act did not provide for an effective implementing arm for its various statutory provisions, because flat purchasers could only approach Consumer Forum or Civil Courts for acts of omission or commission of provisions of the Act and whereas establishing a Housing Regulatory Authority and an Housing Appellate Tribunal would ensure effective implementation of the Act.
Whereas, the modified new MHA 2011 would help remove information asymmetry by ensuring full disclosure by promoters/developers and would also ensure compliance of agreed terms and conditions while registering, monitoring and regulating housing projects by Housing Regulatory Authority.
The new MHA 2011 will usher in transparency and discipline in the transactions of flats and put a check on abuses and malpractices.
However, establishing a Housing Regulatory Authority and a Housing Appellate Tribunal would promote planned and healthy development and construction, sale, transfer and management of flats, residential buildings, and other similar properties with a view to protecting , on the one hand, public interest in relation to the conduct and integrity of promoters and other persons engaged in the development of such flats, buildings and, on the other, to facilitating the smooth and speedy construction and maintenance of such flats, residential buildings and properties.