MOFA (Maharashtra Ownership Flats Act), is one of the oldest housing Act. It came into the being in the year 1963 to regulate promotion, construction, management and transfer of flats sold on an ownership basis within Maharashtra. It laid down the responsibilities of developers and the rights of flat purchasers.
In 2011, when government came up with new Maharashtra housing bill, it received huge criticism. The Members of Maharashtra Welfare Association even filed an appeal that MOFA should be retained as it has been in force for 60 years and is more consumer friendly than the new bill.
Now with the coming of RERA India, will MOFA be repealed or not is a growing concern among state people. Vinod Rohira, a developer suggests that MOFA should retain until the time there is deemed conveyance. He believes National RERA seems to be ideal and State RERA is expected to follow it which will impose certain leverages. MOFA eases down the registration process even in the absence of builder, therefore RERA and MOFA should co-exist.
RERA India is a step to create better transparency in the realty sector. RERA is expected to be for the benefit of the homebuyers. The RERA India 2016 bill has been passed and national RERA seems to be an ideal solution to fill the gaps between developers and purchasers. RERA consultants will play a huge role as they will help in combating the grievances of buyers and dealers.