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Maharashtra Ownership of Flat Act 1963(MOFA)

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.<br>

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Maharashtra Ownership of Flat Act 1963(MOFA)

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  1. Maharashtra Ownership Of Flat Act 1963(MOFA)

  2. 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

  3. 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.

  4. 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

  5. ENDFor more info: Visit ADDA Blog

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