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THE CONSTITUTION OF THE “APARTMENT OWNERS ASSOCIATION” NEEDS TO BE UNDER THE KARNATAKA APARTMENT OWNERSHIP ACT 1972

 
 
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THE CONSTITUTION OF THE “APARTMENT OWNERS ASSOCIATION” NEEDS TO BE UNDER THE KARNATAKA APARTMENT OWNERSHIP ACT 1972
by System Administrator - Monday, 22 January 2018, 11:35 PM
 

By: M.S.Yatnatti: Editor and Video Journalist Bengaluru: Take note that 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.