Homebuyers should pay upkeep fee after handover: Naredco – ET RealEstate

NOIDA: The National Real Estate Development Council (Naredco) has sent a list of suggestions to UP-Rera’s office upholding UP Apartment Promotion of Construction Ownership and Maintenance Act, 2010 and endorse its bylaws on handover of flats to apartment owners’ associations (AOA) after residents move into their flats.

The letter has clarified some liabilities of the promoters post-completion of projects and during the transition of the properties from builders to buyers until formation of the AOAs.

“There was some discordance between the UP-Rera norms on maintenance and what is stated by the UP Apartment Act. So, we clarified these points with UP-Rera through a written letter highlighting some points,” R K Arora, the chairman of UP Naredco said.

Naredco’s suggestions states that homebuyers need to start paying maintenance from the date of handover of possession letters, maintenance charges will be charged according to the maintenance agreement or services provided. The promoter is mandated to enable the formation of an association or society post 60% of handover with the building completed and completion certificate obtained.

Registration needs to be done according to the UP Apartment Act and final notice regarding AOA be sent to the promoter by the registrar. Project can be designed phase-wise although common services like water supply, electricity, STP are common for the complete project and the promoter will be in charge of the construction and other allied support for the handed over property till two years after completion and handover of flats.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *