<p class="bodytext">Nearly 99.9% of home buyers are not aware of rules and their rights, RTI activist and Bangalore City Flat Owners’ Welfare Association (BCFOWA) President Anil Kalgi rued on Sunday.</p>.<p class="bodytext">“With builders violating mandatory regulations and authorities failing to implement regulation for sale of flats, there is none to protect the interest of flat owners,” Kalgi said while addressing a group of flat owners at Casa De Maria’ on Souza Lane in Kadri.</p>.<p class="bodytext">Kalgi recollected how he was cheated by his builder while buying a flat in Bengaluru in 2008. The need of the hour is formation of cooperative society of flat takers that gets to represent the entire property.</p>.<p class="bodytext">According to the 97th amendment, formation of co-operative society is a fundamental right. As per KOFA (Karnataka Ownership Flat Act) a builder is liable to form cooperative society or company to monitor the construction activity.</p>.<p class="bodytext">One of the mandatory conditions is submission of Deed of Declaration (DoD) along with other documents to Registrar of Co-operative Society.</p>.<p class="bodytext">Thus many associations are functioning under a misconception of having registered association under the KOFA.</p>.<p class="bodytext">“Merely registering bye law copy at sub-registrar will not offer the status of society or association. For formation of any society or association there needs a regulatory authority. Sub-registrar is not the regulatory authority until it is endorsed by registrar of Co-operative Society, which is the competent authority,” Kalgi stressed.</p>.<p class="bodytext">For all practical purpose co-operative society as association is the first choice for peaceful living in apartments and also ensures transparency.</p>.<p class="CrossHead">'M'luru to have its own owners’ welfare association'</p>.<p>A couple of women from Bantwal informed BCFOWA President Anil Kalgi that they had paid in the range Rs seven to eight lakh in advance for flats being constructed in B C Road.</p>.<p>“However, the promoters T3 Urban Developers Limited has remained incommunicado ever since the State Bank of India attached the property,” the women said with tears in their eyes.</p>.<p>Veena Shantaram and Shantaram Prabhu, who had invited Anil Kalgi, said an association on the lines of the BCFOWA would be launched to educate flat owners of their rights and responsibilities in Mangaluru.</p>
<p class="bodytext">Nearly 99.9% of home buyers are not aware of rules and their rights, RTI activist and Bangalore City Flat Owners’ Welfare Association (BCFOWA) President Anil Kalgi rued on Sunday.</p>.<p class="bodytext">“With builders violating mandatory regulations and authorities failing to implement regulation for sale of flats, there is none to protect the interest of flat owners,” Kalgi said while addressing a group of flat owners at Casa De Maria’ on Souza Lane in Kadri.</p>.<p class="bodytext">Kalgi recollected how he was cheated by his builder while buying a flat in Bengaluru in 2008. The need of the hour is formation of cooperative society of flat takers that gets to represent the entire property.</p>.<p class="bodytext">According to the 97th amendment, formation of co-operative society is a fundamental right. As per KOFA (Karnataka Ownership Flat Act) a builder is liable to form cooperative society or company to monitor the construction activity.</p>.<p class="bodytext">One of the mandatory conditions is submission of Deed of Declaration (DoD) along with other documents to Registrar of Co-operative Society.</p>.<p class="bodytext">Thus many associations are functioning under a misconception of having registered association under the KOFA.</p>.<p class="bodytext">“Merely registering bye law copy at sub-registrar will not offer the status of society or association. For formation of any society or association there needs a regulatory authority. Sub-registrar is not the regulatory authority until it is endorsed by registrar of Co-operative Society, which is the competent authority,” Kalgi stressed.</p>.<p class="bodytext">For all practical purpose co-operative society as association is the first choice for peaceful living in apartments and also ensures transparency.</p>.<p class="CrossHead">'M'luru to have its own owners’ welfare association'</p>.<p>A couple of women from Bantwal informed BCFOWA President Anil Kalgi that they had paid in the range Rs seven to eight lakh in advance for flats being constructed in B C Road.</p>.<p>“However, the promoters T3 Urban Developers Limited has remained incommunicado ever since the State Bank of India attached the property,” the women said with tears in their eyes.</p>.<p>Veena Shantaram and Shantaram Prabhu, who had invited Anil Kalgi, said an association on the lines of the BCFOWA would be launched to educate flat owners of their rights and responsibilities in Mangaluru.</p>