This judgement marks a noteworthy change, as until now, many builders have retained control over common areas in residential apartment complexes without transferring them to the respective associations of allottees.
Krera: This judgement marks a noteworthy change, as until now, many builders have retained control over common areas in residential apartment complexes without transferring them to the respective associations of allottees.
By forming a cooperative society of apartment owners, the society becomes a corporate body which can convey the title of common areas as per section 17 of RERA 2016 and also gets legal incorporation status to sign the contracts with service providers. There are many advantages of having a body corporate society representing the association of owners, he informed.
Both the ruling Bharatiya Janata Party and the opposition Congress have promised to amend the contentious Karnataka Apartment Ownership Act and address homebuyers’ problems.