Apartment Ownership Act: MMR vs NCR vs B’lore
Apartments and high-rises have altered the skyline of most big cities in the country. Formation of apartment association is imperative for most of these communities so as to ensure smooth and proper functioning. Above all, apartment owners or residents need to be aware of all the laws and regulations that govern their future protection of rights.
Apartment Owners Association is a statutory body that manages and operates all common resources and amenities in a community. Once the association is formed the builder hands over the funds and the charge of amenities to the owners association. However, if the builder fails to form and register a society, then the residents can form the association on their own.
This article attempts to compare and contrast the apartment ownership acts governing the Mumbai Metropolitan Region (MMR), National Capital Region (NCR) and Bangalore respectively. Firstly, a quick look at the salient features of each act.
“As part of ‘Real Insights’ into real estate, commonfloor.com has come up with a comparative analysis of Apartment Ownership Act in MMR, Delhi and Bangalore.
