MCHI gets tough on builders

MCHI Directs Members To Sell Flats Only By Carpet Area
By Staff Reporter

Mumbai: With a view to curb unethical practices, the Maharashtra Chamber of Housing Industry (MCHI), the apex body of real estate business in the state, has restricted all its members from booking flats without receiving the commencement certificate (CC) from the authorities.
MCHI secretary Sunil Mantri Said “Apart from giving this instruction to our members, we have also decided to let builders have stalls in our exhibitions only if they have the CC of their projects.” He asserted that this is a statutory requirement under the Maharashtra Ownership Flats Act (MOFA) which is to be implemented strictly. MCHI treasurer Ashok Mohanani said, “This step will benefit flat buyers in a big way. People take housing loans of lakhs of rupees and hence it is necessary to protect their interests. This move will ensure that people purchase flats only in approved projects.”
The MCHI has also asked its members to sell flats as per their carpet area and not on the built-up and super built-up basis, Mantri said. Following a public outcry against the sale of as high as 40% of built-up area, the state government had warned builders of punitive action if they failed to sell flats on the basis of their carpet area.