Difference between MOFA and RERA

The difference between MOFA and rera carpet area is based

on

scopes, provisions, and coverage.

The full form of MOFA is the Maharashtra Ownership Flats Act and RERA is the Real Estate Regulation and Development Act. These are two important laws in India related to the real estate sector.  

Here's a difference between MOFA and RERA:

1. Applicability:

   MOFA is only applicable to Maharashtra. It governs the sale and management of flats in cooperative housing societies.

2. Coverage:

   It only covers residential property. It doesn't apply to individual houses, commercial properties, or properties outside Maharashtra.

3. Under MOFA, developers are required to register the project with the local authority.

4.  Developers are also required to provide a written agreement with detailed terms and conditions of the sale, possession date, and other relevant information to the buyers.

5. Advance Payments:

   MOFA prohibits the builder's ability to ask for more than 20% of the property's sale price as an advance payment.

6.  MOFA doesn't have strict laws and regulations for project delays.

7.  Disputes between buyers and builders were resolved through the civil court system.

1. Applicability:

   RERA is a central law applicable to the whole of India. It aims to regulate the real estate sector to protect the interests of property buyers.

2. Coverage:

   RERA covers residential and commercial real estate projects, including both individual houses and housing societies.

3. Registration:

   Under RERA, developers are required to register their projects before advertising or selling.

4. Agreement:

   Developers should provide an agreement that clearly outlines the terms and conditions of the sale.

5. Advance Payments:

   RERA prohibits developers from demanding more than 10% of the property's cost as an advance payment.

6. Project Delays:

   RERA has strict laws for project delays. Developers are liable to compensate buyers for delays in project completion.

7. RERA establishes Real Estate Regulatory Authorities (RERAs) in each state to address disputes.

In summary, the difference between RERA and MOFA is that RERA is a more comprehensive and standardized law applicable to the whole of India, whereas MOFA is only for the state of Maharashtra.

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Confused about carpet area estimations in Mumbai’s residential projects? It's critical to know the distinctions between MOFA and RERA when considering Mumbai's residential developments. Here's a quick breakdown of the

:

MOFA (Maharashtra Ownership Flats Act) is the older legislation that only applies in Maharashtra. It refers to the whole floor area, including the balcony, as the carpet area. The national law, known as the Real Estate Regulation and Development Act, places a strong emphasis on useable space. The RERA

carpet area

encompasses the space occupied by interior partition walls but excludes balconies, external walls and other unusable regions. As a result, for the same flat, a RERA carpet area will be marginally smaller than a MOFA carpet area. 

To ensure openness and well-informed decision-making in the real estate market, purchasers considering

must be aware of the subtle discrepancies between MOFA and RERA carpet area estimations.

I learned about the terms "MOFA carpet area" and "RERA carpet area" when looking to invest in the property. I came to know that these terms are frequently employed to describe the area of a property. When I researched for MOFA vs RERA difference, I discovered that the primary distinction between them is found in the regulations that oversee them. Read on to get more differences.

What is the Difference Between RERA and MOFA Carpet Area?

I came across the following differences between MOFA and RERA:

MOFA

• MOFA stands for the Maharashtra Ownership Flat Act. 

• In Maharashtra, property sales are governed by a state-specific law. 

• MOFA defines the carpet area as the spaces within the walls of a property. 

• It also includes the balcony, but not the area that is enclosed by walls. 

• The entire floor space of an apartment, including its balcony, is taken into account when determining its overall carpet area in accordance with MOFA regulations.

RERA

• RERA stands for the Real Estate Regulatory Act.

• It is a national law that governs the real estate industry. 

• RERA states that a property's carpet area must encompass the whole space enclosed by its walls, including the walls themselves. 

• Any space outside a house's exterior walls is not included in the computation of RERA carpet area. Therefore a balcony, veranda, or terrace will not be taken into account.

RERA Carpet Area = MOFA Carpet Area + Area Covered by Internal Wall

I hope this helps you understand the difference between MOFA carpet area and RERA carpet area. 

While purchasing a flat you must have come across the term RERA. If you live in Maharashtra you must also come across the term MOFA as well. So, what is MOFA? MOFA is Maharashtra ownership flat act which was introduced in 1963. The MOFA governs sale agreement and ownership of flats in Maharashtra. Surprisingly, both RERA and MOFA have come up with their own definition of RERA. Let me share with you the difference between MOFA and RERA.

RERA carpet vs MOFA carpet:

Builders at times confuse the buyer by providing them with the wrong carpet area which can make a buyer lose money. There both the real estate bodies have come up with the definition of carpet area to avoid legal discrepancies. At times, builders do not reveal the actual carpet area and instead reveal the super built up area. After the completion of the construction buyers understand the actual size of the property is smaller than the super built up area and this is where the tussle occurs. To avoid this both RERA and MOFA have come up with some guidelines and they differ from each other. Let us understand the difference between RERA carpet and MOFA carpet.

The main RERA vs MOFA difference is:

In MOFA, the area including the entire floor area of the property with the area covered by balcony is known as MOFA carpet area.

The net usable area excluding walls, terrace, balcony or any other space which lies outside the walls is known as RERA carpet area.

MOFA checks the materials' defectivity and structural disparity.

RERA on the other hand checks structural defects quality, defects in workmanship, provision of services, or any other obligations mentioned in the agreement of the sale.

This is the difference between MOFA and RERA. I hope you find this informative.

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