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THE “APARTMENT OWNERS ASSOCIATION” HAS TO BE NECESSARILY TO BE REGISTERED ONLY UNDER KARNATAKA APARTMENT OWNERSHIP ACT 1972

 
 
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THE “APARTMENT OWNERS ASSOCIATION” HAS TO BE NECESSARILY TO BE REGISTERED ONLY UNDER KARNATAKA APARTMENT OWNERSHIP ACT 1972
by System Administrator - Wednesday, 18 October 2017, 4:00 PM
 

By: M.S.Yatnatti: Editor and Video Journalist Bengaluru: KRERA officials before registering the apartment projects must insist that apartment plan must be registered under Karnataka Apartment Ownership Act 1972 and The Deed of Declaration (DoD) is a document that describes the property, i.e., the building, all of its apartments, the common facilities such as lifts, generators, fire fighting equipment, pool, gym etc., along with the ownership scheme giving the percentage share of each apartment. Along with the DoD, copies of plan approvals from local authorities and bye-laws of the association of owners is to be registered.as The Karnataka Apartment Owners Act 1972 act deals exclusively with apartments that are residential in nature. Apartments are termed as transferable properties that are also heritable under this act. In order to register the apartment complex under this act, all apartment owners will need to come together and sign the particulars, which can be quite an ordeal but need to be done as per Act .It turns out the RERA and Urban Development Department is could we hope that the state will begin to ensure adherence to the law, educate its citizens as well as builders and maybe even amend these acts soon to make them modern and more functional? Can buyers get together and force the builders to do things in the right way?.

 

Facts of Karnataka Apartment Ownership Act 1972 and Association Registration process: KAOA (The Karnataka Apartment Ownership Act 1972) is not pertaining to Registration of Apartment Owners Association .KAOA completes the process of creating proper "title "of the flat by registering the Deed of Declaration in Form "A” by sole owners or by all Owners and execution of Form "B” by all Owners.It is the responsibility of the Builder to prepare and register the Deed of Declaration in form "A” with Sub Registrar office along with its bylaws. This deed of declaration need to be registered by the Builders much before conveying the sale deed to the individual home buyers and reference of this Registered Deed of declaration to be mentioned in the Sale deed .Subsequently every individual Owners need to submit a declaration in Form "B” upon registering the sale deed .The Builder hand over the Registered Deed of Declaration and Form "B” upon forming the Association of Owners, under Karnataka Co-operative Societies Act 1959 or under Company's Act 2013. (Earlier 1959).The Association Committee submit the certified copies of Deed of Declaration, Byelaws and Form "B” to the competent authority, within 30 days* of its first General Body meeting , and this completes the process of KAOA.

After dilly-dallying, state-owned housing development agencies, including the Bangalore Development Authority and Karnataka Housing Board, have agreed to register their projects under the Karnataka Real Estate Regulation Authority (KRERA)."Initially, there was confusion. Now that the Karnataka law department has cleared the air, we've decided to register our ongoing projects under KRERA,'' Reportedly BDA commissioner said .This gives hope to beneficiaries of houses and sites developed by government housing development authorities, especially those who were allotted sites in BDA layouts -Nadaprabha Kempe Gowda, and Arkavathy ."Once these layouts are registered, government agencies will have to complete their projects on time or face action. All property disputes would have to be addressed in 60 days or else the buyer will get compensation," Reportedly said a KRERA official .All private layouts appro ved by BDA, BBMP and Bangalore Metropolitan Regional Development Authority must register under KRERA."We've identified 188 layouts approved by BDA in north Bengaluru and issued notices to get registered under KRERA at the earliest. So far, 12 have complied. We'll identify such layouts in other parts of Bengaluru,'' REPORTEDLY KRERA secretary said.The KHB has registered three ongoing projects in Bengaluru. "KHB projects and KHB-approved projects will come under RERA now and they have registered all ongoing projects,'' .The BDA and other housing development authorities were hoping for exemption from RERA since they are registered as nonprofits.These agencies had received relief after the Karnataka State Government Employees' House Building Cooperative Society and others had approached the high court, claiming RERA infringed on their rights under the Karnataka Co-operative Societies Act, 1959, as the power for making legislation for cooperative societies is the exclusive jurisdiction conferred upon the legislatures. The court is reportedly awaiting the order of the Bombay High Court where the hearing is on a similar petition. Quoting RERA, secretary said both private and public institutions which develop real estate projects for sale to the public must register under RERA .All housing projects including those developed by private builders as well as the Karnataka Housing Board and Bangalore Development Authority will come under the purview of real estate regulatory authority (RERA). .The Real Estate (Regulation & Development) Act, 2016, came into effect from May 1, ending the nine-year long wait. The Act provides for regulating the real estate sector involving over 76,000 companies across India. The law enables buyers to enforce their rights and seek redressal of grievances before the authority. The law stipulates (1) Depositing 70% of the funds collected from buyers in a separate bank account in case of new projects and 70% of unused funds in case of ongoing projects. (2) Projects with plot size of minimum 500 sq.mt or eight apartments shall be registered with regulatory authorities. (3) Both developers and buyers pay the same penal interest of SBI's Marginal Cost of Lending Rate plus 2% in case of delays (4) Liability of developers for structural defects for five years; and (5) Imprisonment of up to three years for developers and up to one year in case of agents and buyers for violation of orders of Appellate Tribunals and Regulatory Authorities.

The Registration Procedure: Given below are a few facets that you'll need to know while getting your apartment registered under the Karnataka Government The Declaration should be registered properly under the Registration Act of 1908.The deeds involved with the house will also need to be registered with the Registration Act of 1908.The floor plan of the particular building should also be duly registered under the Registration Act of 1908.Along with the registration of the building's Declaration, extensive details about the building should also be filed along. These details should include the building's layout, the location of the building, and the number of the particular apartment. The apartment's dimensions will also have to be accurately mentioned in the details. This is very important.The building's name should also be specified in the details provided. If the particular building has no specific name, it should be mentioned that the building does not have a name.All these above mentioned details should be properly verified by an architect, who will need to release a statement mentioning that the specified details are correct.This statement should then be run through some local authorities under whose jurisdiction the particular building falls, who will, in turn, verify the same and approve it.If the submitted plans do not include the verified seal of a practicing architect, then the plans should have an amendment attached to them when they are submitted. This amendment should certify that the floor plan mentioned in the documents, the name of the house specified and the dimensions of the building are all accurate and true. This is also very important. The registrar or sub registrar will then register the declaration and deeds involved under the Karnataka Government through an act that was made effective in 1908.This is the general registration procedure involved in registering an apartment and the apartment association under the Karnataka Government.