Lacunae in Karnataka Apartment Ownership Act
|Opened on:||Thursday, 4 August 2011 - 10:50am|
|Last modified:||Sunday, 1 April 2012 - 2:14am|
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Right from beginning, there have existed glaring lacunae in the state Acts pertaining to transfer of ownership of common areas and assets of multi-storied apartment complexes. And, the lackadaisical approach of the officialdom to the rectifications of these are putting the rapidly growing community of flat owners to various kinds of hardships. This project is to highlight the gaps and make efforts to get some of them corrected.
Undeterred by stiff opposition from private developers and builders, the housing ministry is pushing hard to bring the real estate regulator bill, aiming to protect home buyers, in the current session of Parliament.
Got a call from someone in the UDD department inviting suggestions from us on KAOA amendments. Tjis is a good opportunity to provide the inputs. However, go alone knows when this will see an outcome.
That is the good news.
I wrote this up a long time ago. Figured that it is time to post it on Praja. Comments and feedback welcome.
There was an article in the Economic Times today by V Raghunathan titled "Why india needs a Real Estate Regulator". He very succintly covers how the real estate sector is a mess and how everything is one sided in the whole deal. Most of the article is self explanatory and well known.
Rev 1. by Murali772 and Sanjayv
There are plenty of articles discussing aspects of buying an apartment in Karnataka, and Bangalore specifically. This blog posting has a different flavour from most. We want to focus on some very overlooked aspects which are fundamental as well as important.
Managed to get an appointment with honourable Sri Suresh Kumar at 10.45 AM on Monday, the 28th Nov. It will be held in Room no 262, Vidhana Soudha.
A petition as per attachment is being sent by to Sri S Suresh Kumar, Hon’ble Minister for Law, Govt of Karnataka, in the coming week. If he continues to hold the portfolio (assuming he continues as a minister), an attempt will be made to meet him soon.
A reading of the Karnataka Apartment Ownership Act 1972 (KAOA, otherwise called Act no 17 of 1973 - click here) very clearly brings out the fact that that is what is relevant to multi-storied apartment complexes.