Exclusive HOLI Discounts!
Get Courses and Combos at Upto 50% OFF!
Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

K Ramamurthy (Consultant)     12 February 2011

Condominium or Apartment Owners Association

This is a new property which has 7 members.
The property is being maintained by the builder since 2009. Now we are planning to have this conveyed to the members/society.

Since we are only 7 members, the builder has adviced us to form a Condominium or Apartment Owners Association.

I have two queries:

1.Between Condominium & AO association, which is better for the residents?

2.When the builder conveys the property to this association or society - what are the points to be checked by residents? Would the 'plot' also be transferred and all rights to the 'plot' on which the apartment has been constructed ?

 



Learning

 4 Replies

vswaminathan   12 February 2011

If the property referred to is a building of 'apartments', firstly  the builder  should heve complied with the mandatory requirements of the special enactment applicable to 'apartments'.

In case the prioperty is in Bangalore or any other place in Karnataka, then the state enactment will spply.

Many other States (e.g . Tamil Nadu) has its own specisal enactment).

Be that as it shoiuld, as is now commonly known,, many of those requirements still remain to be made a serious note of, by one and all, and consequently,  total chaos is obtaining in the field.

For having a first hand overview, one may have to go through the whole lot of material available in public domain.

In particular, the Posts @ the following links may be helpful :

https://apartmentadda.com/blog/2009/03/10/a-guide-to-apartment-owners-associations-in-bangalore/comment-page-2/ - comment-1531

 

https://www.commonfloor.com/articles/handover-of-apartment-to-association-1691.html

 

The queries pertain to a  subject , though left to itself, is quite simple, but everyone interested has made his own contributuion to render it as  complicated,as humanly possible.

 

Caution: The comments above, are simply intended to provide some broad hints; for the interested person to keep in mind, before deciding to go in for any legal guidance.

 

vswami 

 

 

 

    

K Ramamurthy (Consultant)     12 February 2011

Dear Mr.V Swami,

Thanks for the prompt response to my query. Just to clarify -

This specific building has 7 apartments/members and  is located in Mumbai.

Basically I need to know, which one of the following two options, we the residents must form ?

Condominium or Apartment Owners Association ?

If so, what specific benefit does it give over the other ?

Regards,

K Ram

vswaminathan   12 February 2011

So far as I know, (this is something on which even any of your  neighbor building owners or builder would tell you), in Bombay, what is built and sold are, by and large flats ' - not 'apatments'

'condominum' refers only to a building of 'apartments, not of 'flats'.

For apartments, what is formed is an 'owners' association'

For 'flats' - what is formed is a flat owners' co-operative society'.

Now, you better consult somebody (a flat owner or builder),, not necessarily a legal adviser, to firstly understand the basic things - so as to know the differdence as per the law, between - 'flat' and 'apartment' - you need to know.

vswami

 

 

 

K Ramamurthy (Consultant)     13 February 2011

Thanks - this helps to a certain extent.

In my friends circle here, many say - 'Apartment Owners Association' is what we should go for.

There is a Maharashtra Apartment Owners Association Act - which I am planning to download for more

information on this.

Thanks again for your valuable inputs.

Regards,

K Ram


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register