Homebuyers can have say over builders

Property buyers will now have a say if their developer seeks an extension to the deadline of a project that has already been passed by the Maharashtra Real Estate Regulatory Authority (MahaRERA). The fresh plea will be passd only if the association of allottees agree to the deadline.

The body's new circular stated, "Now, f a promoter (the developer) of a MahaRERA-registered project is unable to finish the work within the extended deadline, an extension may be given by the association of allottees."

The circular, signed by MahaRERA secretary, Vasant Prabhu, further stated, "Co-operative society or federation, comprising home buyers, could also come under the large body of association of allottees." Under Section 6 of the Act, the registration given to a developer may be extended by the body on an application of the promoter.

Ramesh Prabhu, chairman of Maharashtra Societies Welfare Act, said, "The developer can manipulate the association of allottees. They can also push their members in the panel by taking a nominal booking amount. In such cases, decisions should be made on a case-to-case basis."