Maharashtra Housing (Regulation and Development) Bill

 In the last budget session, Maharashtra Government introduced the Maharashtra Housing (Regulation and Development) bill & gave a "property buyer friendly paint" . This joint committee has recommended a few "attractive" amendments to the Maharashtra Housing (Regulation and Development) Bill. Like 3 years imprisonment for the builder for not obeying the Housing Appellate Tribunal!

So, for me Maharashtra Housing (Regulation and Development) Bill is nothing more than the a warning to all those who are not aware about the risks involved in booking a flat. To get the idea, please, have a look at the recommendations:

Risks Involved in Booking a Flat:

1) The builder cannot make any alteration to a flat once it is sold - without the flat purchaser's consent.

2) The builder cannot add a floor or a wing to a building - without the flat purchaser's consent.

3) Any amenity promised - such as a garden - cannot be altered.

4) If the builder fails to give possession of a flat within the promised period or abandons a project, he will not only have to refund the amount with 15% interest, but also have to pay a penalty.

5) If the housing regulator is satisfied that the builder is unable to complete a project, the regulator can let the property buyers come together and appoint contractors and consultants to complete construction of the project.

6) A flat purchaser can demand rectification of any defect within five years of the purchase.

7) Preserving open space is mandatory, it cannot be used as a parking lot.

8) Fire safety systems in high rise buildings are mandatory too.

9) The builder can not make changes to recreation facilities without the consent of the property buyers.

10) If the purchaser fails to pay any outgoings for over three months, the builder can cut off essential services - like water, power and gas - only after the matter is heard by a competent authority.

11) The builder cannot sell 10 per cent flats in each building. These flats will be retained by housing regulatory body till the completion & occupation certificate is obtained by the builder. The list of these 10 per cent flats will be displayed on the government website so that no property buyer will buy them.

12) No pre-launch bookings! As per The Bill, the builder can not sell the flats , accept the bookings, before the plans are approved by the authority.

Now, the builder has to submit the plans, get sanctions & commencement certificates, display the plan on government's website and then only can accept bookings.

Moral of the story:

So on & so forth. In short, it's not about a Maharashtra Housing (Regulation and Development) Bill  or about a good builder and a bad builder. It's all about the way you buy the property. When you book a flat, you buy a concept on paper. While implementing that concept, anything can happen. Sometimes, may be because of genuine, valid reasons. But, for sure, mostly, at your cost. However, your builder would not be sent to jail even for a day. But, you suffer for life.

So, point is, don't get trapped! Let the builder build, obtain the completion & occupation certificate, and send a limo for you!!