From: FEDERATION OF AOA GHAZIABAD <fedaoagzb@gmail.com>
Date: Thu, Oct 3, 2013 at 6:00 PM
Subject: Transfer of an apartment (1/2%)
To:
Dear RWA/AOA friends,
Season Greetings at the outset!
We at the Federation of AOA has always felt that the day the U.P. Apartment Act 2010 is implemented in letter and spirit the benefit of owning a property in an Group Housing Project will become a blessing.
Our State legislators in their wisdom envisaged this Act considering that the buildings and common assets would require substantial amount of money to maintain on yearly basis on one hand and the way apartments are being used as an investment by many on the other hand.
We therefore took up the matter with the 'Competent Authority' the following clause of Model Bye-laws framed under the U.P. Apartment Act 2010 which reads:
Clause 39. Transfer of an Apartment
The transfer of an apartment shall be made by a registered deed of an apartment. The transferor shall produce "no dues certificate" from the association of the apartment residents at the time of the transfer of the apartment;
Provided that if the certificate is not granted and its refusal is not communicated within 15 days after the receipt of the application for its grant, it shall be deemed that the No Dues Certificate has been granted by the Association.
Provided further that the transferor of an apartment owner shall pay ½ percent of the transfer value to the association for transferring his apartment to his prospective buyer and such amount shall be kept in a fund by the association for being used in future for the major repairs of the building.
We are hopeful that existing RWAs and AOAs will adopt the model bye-laws at the earliest and make use of the fund collected @ ½ % from each transaction in an separate Account and use it wisely (with majority opinion) for the maintenance of the buildings and other common assets.
Hope this order by the authority will be a cherished Festive Gift and will strengthen our resolve to work together even harder to implement the 2010 Act in every respect.
Join the Fed AOA and help implement the U.P.Apartment Act 2010 for the common benefit.
For Fed AOA
http://www.croma.org.in
Also, do register at the CROMA site, if not done already:
http://www.croma.org.in/member-registration/
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