Maharashtra Housing Act : Will Protect Interests of Flat Owners

The proposed Maharashtra Housing Act will bring greater transparency & discipline in the transactions of flats & put a check on malpractices, Maharashtra Governor Mr. K Sankaranarayanan said recently..

Mr. K Sankaranarayanan said, “The Act will remove information asymmetry by ensuring full disclosure by promoter / developers and also ensure compliance of agreed terms and conditions between developer and the flat buyers. The State Government has decided to provide houses to mill workers at reduced and affordable rates. Altogether 6,948 houses have been constructed by the MHADA (Maharashtra Housing and Area Development Authority) for the mill workers."

Mentioning that the cost of each house in the multi-storied buildings has been reduced from Rs. 8.34 lakh to Rs. 7.50 lakh, Free houses will be given to the next kin of the mill workers, who lost their lives in the Samyukta Maharashtra movement.

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