To protect buyers’ interest and curb malpractices in the realty sector, the state authority should adopt the centre-proposed housing regulatory Bill in its original form, opined experts.
In a bid to protect buyers’ interest and curb malpractices in the realty sector, the state authority should adopt the centre-proposed housing regulatory Bill in its original form, opined experts and housing society activists at a seminar organised by the Maharashtra Societies’ Welfare Association (MSWA) on Friday.
Opposing the “diluted version of the central Bill”, legal experts like justice S Suresh said, “If the state government cannot introduce the stringent housing regulatory Act, it should strengthen the existing Maharashtra Ownership of Flats Act, 1963.” Stating that laws should help people avoid moving court, he added, “People want houses, not compensation after they knock the court’s door over delay in projects and cheating complaints.”
While charging the fly-by-night developers with damaging the image of the entire industry, Akash Deep Jyoti, head of infrastructure and real estate rating at Crisil, said, “For sake of transparency and trust, developers should use technology and host floor-wise plan, financial transaction, and various permissions on their websites.”
Dubbing the state Bill’s version a mere eyewash, MSWA chairman Ramesh Prabhu said, “It has no provision for taking criminal action against developers, let alone the power to reject their architectural plan. If it cannot cross-check authenticity of the submitted plan, how will it help buyers and control malpractice?” To press his case, he asked, “If a 50-paise chocolate can carry an MRP, why can’t a flat worth crores of rupees carry one?”
Another expert, Anil Nair, said no Bill is powerful in its introductory stages and that “people must participate actively to make it stronger by submitting their suggestions and objections, and then pressuring the government to implement it”.
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