UP Apart­ment Act on RWA

HT Estates - - NEWS -

As­so­ci­a­tion of flat own­ers: Ev­ery apart­ment should have an as­so­ci­a­tion of apart­ment own­ers for the ad­min­is­tra­tion of its af­fairs and man­age­ment of com­mon ar­eas and fa­cil­i­ties Joint re­spon­si­bil­ity of builder/res­i­dent: When a de­vel­oper con­structs units, gets the com­ple­tion cer­tifi­cate and ex­e­cutes a sale deed in favour of the buyer, it’s the joint re­spon­si­bil­ity of the de­vel­oper and the apart­ment own­ers to form an as­so­ci­a­tion De­vel­oper duty-bound to main­tain the com­plex: Un­til all the apart­ments are sold or trans­ferred, the de­vel­oper will pro­por­tion­ately share the main­te­nance cost of com­mon ar­eas and the fa­cil­i­ties Hand­ing over com­mon fa­cil­i­ties to the RWA: Once an as­so­ci­a­tion of apart­ment own­ers is formed, man­age­ment of the af­fairs of the apart­ments has to be trans­ferred from the de­vel­oper to the as­so­ci­a­tion An­nual elec­tions: The an­nual gen­eral meet­ing of the as­so­ci­a­tion, to be held in the first quar­ter of each fi­nan­cial year, will elect a min­i­mum of four and a max­i­mum of 10 mem­bers, in­clud­ing the pres­i­dent, vice pres­i­dent, sec­re­tary, trea­surer, etc. They will hold of­fice for a year

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