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What are the duties of the apartment promoter?

As per the Karnataka Ownership Flats (Regulation of Promotion of Construction Sale, Management and Transfer) Act, 1972, the following are the duties of an apartment promoter.

A promoter, who constructs or intends to construct such a block or building of flats, shall-

a) Make a full and true disclosure of the nature of his title to the land on which the flats are constructed or are to be constructed; such a title to the land as aforesaid having been duly certified by an Advocate of not less than seven years standing;

b) Make full and true disclosure of all encumbrances on such land, including any right, title, interest or claim of any party in or over such land;

c) Allow inspection on reasonable notice of the plans and specifications of the building built or to be built on the land; such plans and specifications having been approved by the local authority which he is required to do under any law for the time being in force;

d) Disclose the nature of fixtures, fittings and amenities (including the provision for one or more lifts) provided or to be provided;

e) Disclose on reasonable notice or demand if the promoter is himself the builder, the prescribed particulars such as the design and the materials to be used in the construction of the building and if the promoter is not himself the builder then should disclose on such notice or demand, all agreements (and where there is no written agreement, the details of all agreements) entered into by him with the architects and contractors regarding the design, materials and construction of the building;

f) Specify in writing the date by which possession of the flat is to be handed over;

g) Prepare and maintain a list of flats with their numbers already sold or agreed to be sold and the names and addresses of the parties and the price charged or agreed to be charged therefore, and the terms and conditions if any on which the flats are sold or agreed to be sold;

h) State in writing, the precise nature of the organization of persons to be constituted and to which title is to be passed, and the terms and conditions governing such organization of person who have taken or are to take the flats ;

i) Not to allow any person to enter into possession until a completion certificate where such certificate is required to be given under any law, is duly given to the local authority;

j) Make a full and true disclosure of all outgoings (including ground rent if any, municipal or other local taxes, taxes on income, water charges and electricity charges, revenue assessment, interest on any mortgage or other encumbrances, if any)

k) Make a full and true disclosure of such other information and documents in such a manner as may be prescribed and give on demand true copies of such documents referred to in any of the clauses of this sub-section and may be prescribed only on payment of reasonable charge.

FAQ

Can home loan be converted from fixed rate to floating rate & vice versa?  

When should one opt for a fixed rate home loan?

Can home loans be obtained against two different properties?

Whether banks and financial institutions lend money for purchase of land?

What are the charges other than interest that are levied by home loan lenders?

What is the role of a builder, promoter in group housing complex?

In multi-storied buildings maintenance charges is charged and frequently the word AMC is used.  Please explain the words?

Please clarify whether it is correct on the part of the association to collect more maintenance charges from tenants irrespective of it being paid by the owner or by the tenant himself.

I live in an apartment of 16 units (GF plus 3 floors).  I live on the third floor.  The owner living below me (second floor) has complained of leakages in his bathroom.  I did attempt some repairs (plastering) on my bathroom floors. This proved to be a temporary solution.  Now he is demanding replastering of my bathroom and refixing of tiles.  I insisted in this case the cost towards repair and materials to be shared mutually.  Am I justified in my argument? What does the rule say?

I would like to know on what basis the flat maintenance charges could be raised from the present amount? Our building is over six years old and has 65 flats. We recently completed painting the outside walls for which the corpus fund was used.  Being six years old, the water pumping motors for all the five blocks need replacement and also expenses are there for the OTA space closing, hard topping in the two wheeler parking area. Please advice.