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promoter obligations

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In a landmark verdict, Bombay High Court has quashed orders allowing a few members to split Jay Anand Co-operative Housing Society and take separate land papers, ruling that small groups cannot force bifurcation without 75% majority consent or genuine public interest.

MahaRERA’s Rule on Housing Society Formation: A Guide for Homebuyers in Maharashtra

Under MahaRERA guidelines, developers must enable the formation of a housing society or legal entity within three months from when 51% of apartments are booked or upon receiving the Occupancy Certificate (OC). This provision, per Section 11(4)(e) of the RERA Act, empowers homebuyers by shifting control from promoters to residents.