Considering Bengaluru’s construction boom, the city has a large number of Resident Welfare Associations (RWAs). But few RWA members are aware of the complex laws and rules that must be followed for the transfer of ownership of the building complex from the builder to RWA. The process of financial, legal, operational and other technical issues regarding the transfer can be a long and tedious process.
On June 25, ADDA, an apartment management and accounting software, in collaboration with Citizen Matters and the Bangalore Apartment Federation (BAF), organized an event consisting of two panel discussions and sessions on practical tasks, procedures and checklists. of the transfer process that residents should be aware of.
Panelists and speakers included Uday Simha Prakash (Founder, Nemmadi), Satish Mokhashi (VP, Prestige Property Management and Services), Rahul Raj (Director, RM Consultants), Ajith Alex George (Director, 42 Estates), Colonel Narsimhan (Group -brigade) and Mithun Gerahalli (lawyer). Representatives of the apartment associations included Ishwar Dixena, Gautham Kamath and Hareesh Sivaraman.
Meera K and Arathi Manay were the moderators for the two sessions, titled “Operational Aspects During Recovery: Inputs from Customer Service Experts and MC Members” and “Legal and Regulatory Considerations During Handover: Inputs from Developer Representatives, RWAs and legal experts”.
Read more: What documents to check when buying a property in Bangalore?
Between them, the two exchanges focused on the different steps to be followed during the handover process, in particular the constitution of the association for the well-being of the inhabitants, the delivery of financial and accounting details, the methods and the financing of the maintenance of common areas, legal requirements related to documentation and legal compliance, document checklists and several other important details.
Read more: Builders must obtain a certificate of occupancy before handing the project over to buyers: Consumer Court
The discussion is available at ADDA YouTube Channel and can be viewed here as well.