SULAKSHANA D. WANARE (Assistant Manager - HRM) 28 April 2018

Owners are not agreeing to register the building

I am staying in the building in Nagpur having 8 Tenemants/Owners the building is not yet registered under Maharashtra Ownership Act 1970 and the owners are not interested in doing the same as most of them are staying outstation. The builder had registered it through Deed of Declaration in the year 2002 but further process has not taken place that is Memorandum of Association and the Bye Laws.

I wish to know is it compulsory to register or is it ok for not doing so, what is the result of not doing so.

Please guide

Thanking you

Regards

Sulakshana Wanare

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2 Replies

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 ) 28 April 2018

The Maharashtra Apartment Ownership Act 1970 empowers apartment owners to fully own the apartment, including the proportional share in the undivided common areas and facilities. It also makes the apartment transferable and heritable, enabling apartment owners to secure a mortgage on the apartment. This, of course, proves beneficial to both the apartment owner and the builder, who is able to use the freed up capital to start new constructions.

Besides all this, the Act helps apartment owners come together and form associations, which in turn take responsibility for ensuring residents’ welfare and promoting their rights. Although unregistered apartment owners’ associations also exist, it’s always wiser to register your association so that you can defend yourself legally in case of a conflict at a later time.