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Maharashtra to have Multiple Housing and Real Estate Firms Appointed

There could definitely be another one for the remaining Konkan belt including Mumbai satellite cities Navi Mumbai and Thane. Likewise, for the residential matter pertaining to cities in the western Maharashtra, there is a separate regulator that could function out of Pune. Another will be based in Nagpur to handle cases emerging out of Marathwada belts and Vidarbha.

KaranSharma
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Maharashtra to have Multiple Housing and Real Estate Firms Appointed

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  1. Favista Real Estate Maharashtra to have Multiple Housing and Real Estate Firms Appointed

  2. With the numerous complaints from flat buyers against the practices by the real estate firms piling up from across states there is a proposal to appoint multiple housing regulators which are now under consideration. The official data shows that there were about 37,000 cases which were pending in the consumer redressal forum at the last count. Mumbai alone accounts for over 15,000 out of these cases. As per a senior government official, it is anticipated that a single housing regulator will be overburdened and proposed to appoint multiple region-wise regulators which are now being considered. Also, according to the plans, Mumbai might get its very own housing regulator. There could definitely be another one for the remaining Konkan belt including Mumbai satellite cities Navi Mumbai and Thane. Likewise, for the residential matter pertaining to cities in the western Maharashtra, there is a separate regulator that could function out of Pune. Another will be based in Nagpur to handle cases emerging out of Marathwada belts and Vidarbha.

  3. After the Centre’s Real Estate Bill, 2016, came into being on 1st May, the state government is in process of making the rules and putting institutional infrastructure to safeguard the interest of the home buyers. Things will soon get finalized especially dealing with the infrastructure and manpower requirements. Also, the housing departments are drafting rules for the Act’s implementation. The government is aiming 31st October as the date for setting in the place for the regulatory mechanism provided by the Central Act. The central legislation offers for the constitution of an advertisement hoc or the interim regulatory authority as the Maharashtra government continues to be pretty uncertain about appointing it. Once the appointments are done, it would be easier to track things down and the working process will become easier for everyone.

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