Money & Banking
Maharashtra Assembly clears Housing Bill

The Housing (Regulation and Development) Bill makes it mandatory for a promoter/developer to register his project and display it on the website of the Housing Regulator

Mumbai: Maharashtra Legislative assembly cleared on Monday night the Housing (Regulation and Development) Bill, 2012 which aims to regulate and promote the construction, sale, management and transfer of flats on ownership basis and establish the Housing Regulatory Authority and Housing Appellate Tribunal, reports PTI.


As per the new law, registering the housing project and displaying it on the website of the Housing Regulatory Authority becomes mandatory for the promoter.


The promoter will have to pay fees not exceeding Rs50,000 along with the application for registration.


However, registration and displaying of the project will not be required, if the area of land proposed to be developed into a project does not exceed 250 sq meter and the total number of flats proposed to be developed into a project inclusive of all phases is less than five.


No promoter shall start sale of prescribed percentage of flats, the area of which shall not exceed 10% of the total area of each building in every new project, which will be referred to as 'retained flats', till occupation certificate from the local authority in respect of that building is obtained by the promoter.


The details of such flats shall be displayed on the website of the Authority, before the start of any transaction, including marketing. The promoter shall be entitled to sell retained flats in each of the building only after the receipt of the occupation certificate or building completion certificate from the local authority for that building.


It will be the responsibility of the promoter to enter the record or details on the website of the housing regulatory authority. No order of cancellation of registration of the project shall be issued by the housing regulatory authority unless reasonable opportunity of being heard is given to the promoter.


Replying to a debate on the Bill, Minister of State for Housing Sachin Ahir said, disclosures and proof of plan is mandatory for the promoters.


"They will be given a registration code and after registration process, they can advertise and sell their flats. The amenities to be provided will also be loaded on the website and if any changes are made later, the promoter has to do it by taking the flat owners into confidence," Ahir said.


Promoter will be responsible for repairing the defects and faults in the building constructed till five years of the flats being handed over to the owners. Housing Appellate Tribubal will hear the appeals and give decision in three months, which can be challenged only in the high court.


If a promoter violates the provisions of the new law, he will be liable for fine of Rs10 lakh and jail term of three years, he said.


According to the minister, the new law will empower the flat owners and will be a "game changer" in regulating the housing sector.


According to the provisions, the layout, including recreation ground, park, garden and playground disclosed along with the building plan can be amended, modified and varied by the promoter from time to time, in accordance with the development control regulations including for the utilisation of the full development potential available from time to time.


He said the Maharashtra Flat Owners Act of 1963 will be amended with the passing of the new law.



Urvish Chitalia

4 years ago

Please correct the spelling of "disply" in the sub-heading. Needless to say it should be "display"

HC asks CBI to finish probe in Kurla fake bail bond scam in a month

Last year the High Court transferred the probe into the fake bail bond scam at Kurla railway station involving several RPF personnel to the CBI. However, there has been no progress since then

Mumbai: The Bombay High Court has directed the Central Bureay of Investigation (CBI) to complete its investigation into the fake bail bond scam at suburban Kurla railway station, involving several Railway Protection Force (RPF) personnel, within a month, reports PTI.


A division bench of Justices SA Bobade and Mridula Bhatkar asked the investigating agency to finish its probe and submit a report before it on 17th August.


Last year in August, the High Court had transferred the probe into the fake bail bond scam at Kurla railway station involving several RPF personnel to the CBI. However, there has been no progress since then.


On several occasions, CBI was pulled up by the High Court for its slow probe.


The court was hearing a public interest litigation (PIL) filed by social activist Samir Zaveri alleging that certain RPF personnel were releasing persons, booked for trespassing and crossing railway tracks, on fake cash bail bonds.


In his PIL, Zaveri had alleged that a head constable acted as a magistrate and granted bail to the alleged offenders and the money collected was misappropriated by the RPF personnel themselves.


The bench also asked the Railways to inform the court on the next date of hearing what measures it proposes to take in order to prevent such corruption.


The matter has been posted for hearing on 17th August.


Consumer confidence in India falls first time in nine quarters

Rising inflation and fuel prices, which are a direct hit on the wallet, combined with a...

Premium Content
Monthly Digital Access


Already A Subscriber?
Yearly Digital+Print Access


Moneylife Magazine Subscriber or MSSN member?

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

We are listening!

Solve the equation and enter in the Captcha field.

To continue

Sign Up or Sign In


To continue

Sign Up or Sign In



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)