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A regulatory body to safeguard home buyers: Maharashtra govt

News:

  • Maharashtra government will soon appoint a regulatory body to safeguard interests of home buyers after the centre gave a go ahead to the state to frame rules to implement the Housing Regulatory Bill passed by the legislature and approved by the President.
  • The Maharashtra Housing (Regulation and development) 2012 was passed two years ago and the Presidential assent came in 2014.  The regulatory authority will be a quasi-judicial body and resolve the disputes related to the housing sector.
  • The previous Congress-NCP government had proposed the law to ensure home buyers interests are safeguarded. However, the Centre also brought a similar legislation in Parliament and asked Maharashtra to hold back implementation of its own law but the Centre’s draft bill has gone to the parliamentary committee of the Rajya Sabha. So, the state has got a go ahead with its own regulatory authority law.

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