IIMB’s Real Estate Research Initiative with Bangalore Apartments Federation mooted an initiative to help apartment owners learn about their rights, a little over a year ago.
Credit: DH Photo/S K Dinesh
The Indian Institute of Management Bangalore (IIMB) and Bangalore Apartments’ Federation (BAF) are collaborating on a certificate course for homeowners, home buyers and apartment resident welfare associations.
A little over a year ago, IIMB’s Real Estate Research Initiative (RERI), working with BAF on other projects, mooted an initiative to help apartment owners know their rights. Venkatesh Panchapagesan, associate professor of finance and head, RERI, explains: “We wanted to work on a capacity building programme among apartment owners... Most RWAs have competent people in their management committees, but the end results and decisions taken are not smooth.”
For women, seniors
This is when the idea of creating a certificate programme, “which will allow people with flexible schedules or recently retired senior citizens to arm themselves with knowledge and capabilities to manage the RWAs well” came about. With several RWAs struggling to get people involved, “such a course will add value”, believes Panchapagesan.
Apartment owners are reluctant to get into management committees as it is a thankless job, says Vikram Rai, president, BAF. Often, members find it tough to mediate between residents and resolve conflicts.
Panchapagesan believes the programme will help create awareness about the law, technology (for example, sewage treatment plants), and government regulations (such as the ones about fire safety).
“Ideas like how to govern an RWA and how to ensure that meetings go smoothly will be included. BAF will help us design the programme, bring in the right experts, and some of our faculty will get involved in course management and policy,” he explains.
The duration of the programme and the modules to be included are being discussed. “If someone wants to get additional details like understanding contracts, it can be an additional module,” adds Panchapagesan.
The course is online. “We understand the need for the community and peer groups to connect, and we hope to bring together the cohort at the campus periodically and expose them to people in the industry, like CREDAI, which will help build the community and ecosystem,” he says.
A repository will include basic information that RWAs need. It will include case studies on various solutions that RWAs have found in the past, he explains.
Any homeowner can take up the course and benefit from it, Rai avers. “Such a course could also add value to their careers. I run my own business. Being an entrepreneur, the leadership development experience with BAF has also helped with my professional development,” he says.
Podcast coming
A podcast series will be launched in about a month, says Rai: “It aims to provide simple and functional titbits. Topics include water efficiency, treatment of wastewater, solid waste management, energy efficiency, solar rooftops, and electric vehicle adoption.” The plan is to start with at least one episode a month.
Useful workshops
Events and workshops will also be a regular part of the knowledge-sharing process. “During the city’s water crisis, the government promoted reuse of treated water in apartment complexes. We put together a workshop for builders and apartment associations on how the policy could be brought to action. Such workshops are important,” says Panchapagesan.
Workshops and policy building are part of the long-term initiatives. “There are a lot of gaps in apartment ownership laws. Detailed analysis and research will be needed to understand laws in other states, and create a good framework for Karnataka,” he says.
When
Podcast: By August 2024
Certificate programme: Late 2024
Workshops: Ongoing
Wallet factor
Details to be finalised