Housing society is also promoter forredevelopment

Housing society is also promoter forredevelopment
17/09/2018 , by , in News/Views

In a relief for flatbuyers in a Goregaon redevelopment project, the Maharashtra Real Estate Regulatory Authority (Maha RERA) has held that a housing society is also a promoter.
The Maha RERA recently heard a complaint by purchasers of flats in the sale component of a project called Horizon. Udayachal Goregaon Cooperative Housing Society, with 15 members, had appointed Jaycee Homes Pvt Ltd in April 2013 to reconstruct their building with stilt and 15 floors and to sell additional flats.
The developer entered into agreements and collected money from purchasers. He constructed till the 11th floor. Due to non- compliance of development terms, the society terminated the developer and further refused to accept the rights of the purchasers to get their homes.
Fifteen purchasers moved Maha RERA contending that their agreements with the developer are legal and binding on the society and the developer and they must be directed to hand over possession of their flats by completing the construction.
“Such provision is not there in MOFA. The society by cancelling the development agreement of developer and revoking their power of attorney regains control and ownership of the sale component,’’ said member and adjudicating officer B D Kapadnis, concluding that the purchasers’ complaints are maintainable.

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