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MOFA

Mumbai: All you need to know about Sale Agreement!

Agreement for Sale is the central document governing the sale of property. It contains the agreed upon terms & conditions between seller and buyer for the sale of property and is legally binding on both the parties. The buyer is referred to as the purchaser and the developer is referred to as the promoters in […]

nikunj.j

Analysis of real estate law-Maharashtra Housing Act 2012

Maharashtra Housing Act 2012-Presidential nod given to the bill. The new rule will replace the incumbent Maharashtra Ownership of Flat Act, 1963.Real estate law experts and builders have given a mixed response. In first of its kind, Maharashtra has become the first state to introduce a real estate sector state regulator act aimed at safeguarding […]

How to Calculate Maintenance Charge of flats in Maharashtra?

Maintenance charges or service charges are levied by all cooperative housing societies to cater for expenses incurred. The basis on which the society charges will be shared by each apartment unit is decided by the Cooperative Housing Society. As per the model bye-laws of the Maharashtra Ownership of Flats Act (MOFA), each housing society must […]

Mumbai: Flat Buyers Need Not Pay Service Tax On Maintenance Charge

As a fresh breath for flat buyers in Mumbai, they will be spared from paying service tax on the one-time maintenance charge (maintenance deposit) which is paid to the developers at the time of booking the flat. This conclusion was arrived at by the customs, excise and service tax appellate tribunal. The order was passed […]

karthik.k

Flat Buyers Must Be Protected By New Laws: Experts

Legal experts have opined that home owners and flat buyers need more legal protection. This verdict has come about following some of the recent problems innocent flat buyers have gone through. One such example is the recent Campa Cola case. Lawyers and legal experts say that the present laws do not protect flat buyers sufficiently […]

karthik.k

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