Flat buyers and owners, this is what you need to know

Flat buyers and owners, this is what you need to know

July 8: RTI activist and Bangalore City Flat Owners’ Welfare Association (BCFOWA) President Anil Kalgi was addressing a group of
flat owners at Casa De Maria’ in Souza Lane at Kadri on Sunday, July 7.
Kalgi mentioned that nearly 99.9% of home buyers are not aware of rules and their rights. He stated that there is none to protect the interest of flat owners since few builders are violating mandatory regulations and authorities are failing to implement regulation for sale of flats. Kalgi said that it is important to form a cooperative society of flat takers that gets to represent the entire property.
As per the 97th amendment, formation of co-operative society is a fundamental right. As per KOFA (Karnataka Ownership Flat Act) it is mandatory for a builder to form cooperative society or company to monitor the construction activity. One of the conditions is submission of Deed of Declaration (DoD) along with other documents to the Registrar  of Co-operative Society.
For the formation of any society or association a regulatory authority is needed. Kalgi stressed that the sub-registrar is not the regulatory authority until, but it is endorsed by registrar of Co-operative Society, which is the competent authority. Co-operative society as association is the first choice for peaceful living in apartments and also ensures transparency.

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