Fine Print

Madras HC Ruling on PED Gives Hope to Insured
A bench of the Madras High Court has said...

Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital+Print Access

Subscribe

Moneylife Magazine Subscriber or MSSN member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation
Best & Worst Mutual Fund Schemes

The best# three and the worst three schemes over the past three years, in different...

Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital+Print Access

Subscribe

Moneylife Magazine Subscriber or MSSN member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation
Builder Fined for Not Transferring Property to CHS

The Thane District Consumer Disputes Redressal Forum has directed a builder to pay compensation of Rs1 lakh for failing to transfer the property in the name of a cooperative housing society (CHS) and also failing to convey the land to the CHS. Accepting the complaint of the CHS for deficiency of services, the Forum said Anubhav Builders had not complied with the provisions of the Maharashtra Ownership of Flats Act (MOFA), 1963.

The Forum pointed out that the agreement states that the flats would be transferred; it was also mandatory under MOFA for the land to be transferred to the buyers. It also came to light that the builder had sold a part of the land to another developer, a fact which was not disclosed to the complainant CHS.

The Forum directed the builder to complete the formalities within three months from the date of the order, failing which he will have to pay a penalty of Rs1,000 per day of delay. Additionally, the Forum ordered the respondent to pay a compensation of Rs1 lakh towards the cost of complaint and other expenses within three months, or pay an additional Rs2 lakh to the CHS.

 

NOTE:
Those seeking help or advice on CHS issues can contact
Moneylife Foundation’s Legal Resource Centre (LRC) ( http://moneylife.in/lrc.html )


 

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)