The Authority has directed the association to be registered under Karnataka Cooperative Societies Act 1959 in order to take over completion of the project
By forming a cooperative society of apartment owners, the society becomes a corporate body which can convey the title of common areas as per section 17 of RERA 2016 and also gets legal incorporation status to sign the contracts with service providers. There are many advantages of having a body corporate society representing the association of owners, he informed.
Homebuyers, who are filing FIRs against residents’ associations, claim unregistered RWAs have defrauded them to the tune of Rs 88 lakhs in maintenance charges.