MORE POWER TO BUYERS
Maharashtra Ownership Flats Act of 1963 UP Apartment Act 2010 The Haryana Development and Regulation of Urban Areas Act, 1975 The Delhi Apartment Ownership Act 1986 The Karnataka Apartment Ownership Act, 1972 The draft bill is first approved by the cabinet committee Sent to Lok Sabha and the Rajya Sabha and debated upon After passage by both houses of Parliament it becomes an act It is notified or published in the gazette Comes into effect; formally becomes a law Process for appointment of a regulatory authority begins in states to primarily regulate the entire housing sector and specifically the promoter and eventually ensure that the rights of buyers are protected, an apartment act of a state regulates the rights and obligations of different stakeholders. It also looks at common maintenance, formation of RWS etc. However, since it has no teeth, the regulatory body seeks to fill that gap.
Both the apartment acts and the central act will eventually complement each other. The judicial provisions in case of apartment acts are generally weak, the central act seeks to address that issue by having full control over the promoter.
It also proposes an alternative redressal forum or an ADR. The ombudsman that it has proposed, will be an informal court that will help mitigate matters.