UP Apartment Act on RWA
Five important provisions on the formation and management of resident welfare association in the UP Apartment (Promotion of Construction, Ownership and Maintenance) Act 2010real estate Updated: Mar 16, 2013 20:36 IST
Five important provisions on the formation and management of resident welfare association in the UP Apartment (Promotion of Construction, Ownership and Maintenance) Act 2010:
1 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
2 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
3 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
4 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
5 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 maximum 10 members, including the president, vice president, secretary, treasurer etc. They will hold office for a year.