Govt. to monitor mechanism for real estate projects

Govt. to monitor mechanism for real estate projects
The Maharashtra Ownership Flats (Regulation of the Promotion of Construction, Sale, Management and Transfer) Act, 1963 and the West Bengal Building (Regulation of Promotion of Construction and Transfer by Promoters) Act, 1993 have enabled the respective state governments to monitor timely completion of real estate projects, according to the statement by Ajay Maken, Union Minister of Housing & Urban Poverty Alleviation (HUPA).
The minister stated that enabling provisions had been made in various states like Maharashtra, Punjab, Uttar Pradesh, West Bengal and Andhra Pradesh through the Maharashtra Ownership Flats Act, 1963; the Punjab Apartment and Property Regulation Act, 1995; the Uttar Pradesh Ownership of Flats Act, 1975; the West Bengal Building Act, 1993; and the Andhra Pradesh Apartments (Promotion of Construction and Ownership) Act, 1987 respectively for the resolution of disputes between builders and buyers.

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