How Housing regulatory authority help flat buyers?

Q: I heard housing regulatory authority is formed to provide relief to flat purchasers against malpractices by developers. But How it will help a flat buyers?

Ravi Waghmare, Mumbai

2nd January 2012

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Housing regulatory authority to be headed by a retired government official of the rank of principal secretary and will include two experts. It will have powers to impose a fine of up to Rs 1 crore on offenders. Under new Act Developers will have to register with the authority and it will be mandatory for issuing advertisements for sale or transfer of flats.

Anuj Gupta, Mumbai

3rd January 2012

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The developers have to specify the timeframes for the completion of various stages of development. They will have to register with the authority and submit complete details of projects undertaken by them. I personally feel this will somehow bring transparency in real estate sector where buyer will get clear idea on details about the land title, approved plans, FSI utilized and carpet area of flats, common areas and amenities etc.

Suresh Khanna, Mumbai

2nd January 2012

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