CONCERNS OF REAL ESTATE BUYERS
The real estate buyers more often suffer by ill practices by few
errant developers/ promoters
("Developers"), mainly being
(i) inordinate delay in getting possession of the flat/unit, (ii)
paying more than 20% of the purchase consideration in advance
before executing and registering the agreement for sale under the
provisions of Maharashtra Ownership of Flats Act, 1972
("MOFA"), (iii) altering the
layout plans and specifications of flat/ unit without being
informed by the Developer, (iv) not registering the agreement for
sale within a period of four (4) months after paying earnest/
advance monies, (v) not disclosing clear and marketable title of
the Developers in relation to the subject property, (vi) not taking
steps in formation of society/ condominium/ company
("Organisation"), and (vii) not
conveying the ownership of subject property in favour of the
Organisation.
