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Under which act should we register the owner's association?- Property Hotline
Posted
August 3, 2016
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August 3, 2016
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3:39Now PlayingExpert: Hemang Jariwala, Advocate at the Bombay High Court.
Question: I bought a flat in an apartment in Bangalore's developing area. Which act should we register the owner's association under - the Societies Act or KAOA? How much will the registration cost?
Answer: It is advisable to register the association under the society's Act as under the said provision, the society becomes the owner of the land and the building and the flat purchaser / member have a right of occupation only. The society is looked after the managing committee which is duly elected and comes under the supervision of the deputy registrar in case of miss management. Under the ownership of apartments Act, a condominium is formed wherein each flat purchaser is the joint owner of the plot of land and the building which leads to clash of egos.
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