Maharashtra ownership of flat act 1963 mofa
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Maharashtra Ownership of Flat Act 1963(MOFA) PowerPoint PPT Presentation


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According to a recent circular, issued by The Maharashtra State Police Department, the Government has implemented an addendum to The Maharashtra Ownership Flat Act-1963 ( MOFA) & the MRTP Act 1966. According to the circular, builders are liable to be jailed for 3 years, 5 years or 9 years depending upon the nature of violation of the Act.

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Maharashtra Ownership of Flat Act 1963(MOFA)

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Maharashtra ownership of flat act 1963 mofa

Maharashtra Ownership Of Flat Act 1963(MOFA)


Some of the violations on which the police can act

Some of the violations on which the police can act:

  • Possession of flat is delayed

  • OC not obtained before the date of possession

  • BMC approval plan not displayed at the site

  • On receipt of 20% of cost of flat, if the agreement is not executed

  • The Act says that the entire amount collected by the builder under different heads other than the cost of the apartment, needs to be kept in a separate account.

  • If the construction is not as per the approved plan

  • If the application 4 formation is not put up within 4 months of giving possession.

  • If the conveyance of land & building is not done within 4 months of registration of the society


Why these violations happen

Why these violations happen:

  • Builders give over optimistic project completion time – lines to obtain faster sales.

    • As a result, Owners have to keep paying EMIs or maybe rent which causes financial issues.

  • The Builder also raises extra floors which are not included in the approved plan

    • As a result, Residents will not get proper occupancy certificates.


Solution

Solution :

  • The recent circular provides more power to wronged home owners for exercising their rights.

  • With Real Estate (Regulation & Development Act) 2016 (RERA) being enacted and implemented across the country and errant builders can be booked under MOFA


End for more info visit adda blog

ENDFor more info: Visit ADDA Blog


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