UP-Rera discusses draft on AOA, RWA formation with homebuyers

The Uttar Pradesh real estate regulatory authority (UP-Rera) on Tuesday sought suggestions from home buyers associations in the national capital region on its draft guidelines on formation of residents’ welfare associations (RWAs) and Association of Allottees

The Uttar Pradesh real estate regulatory authority (UP-Rera) on Tuesday sought suggestions from home buyers associations in the national capital region on its draft guidelines on formation of residents’ welfare associations (RWAs) and Association of Allottees.

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“We met with homebuyers today and they sought a single Association of Allottees and has raised the interest-free maintenance security (IFMS) issue. We have given them time till Friday to give us suggestions in writing and then meet promoters. Thereafter, the final draft will be prepared and sent to state government for approval,” Balvinder Kumar, member UP-Rera said.

Col TPTyagi chairman Flat Owners Federation Ghaziabad said, “As per law, maintenance has to be transferred to the association by promoter and the development authority has to ensure its compliance. However, the development authority is not taking matters seriously.”

“We suggested that there should be just one apartment owners’ association (AOA) for a project. At the moment, there are block wise or even phase wise AOAs or RWAs. This has been creating many problems especially with regard to common areas and facilities,” said Tyagi.

On IFMS, Tyagi said, “Promoters charge IFMS money from allottees, which is around ₹25 to ₹30 per square feet. It has been seen that this IFMS amount is not transferred to the homebuyers’ association. I have suggested that UP-Rera ensure its transfer.”

Tarun Bhagat of Crossings Republik Owners Association too suggested formation of single association. “One AOA is formed and as new towers are completed those allottees too should become member of registered AOA,” said Bhagat.