An Apartment Owners Association in Bangalore can be registered under three Karnataka Acts. The following are the Acts under which an association may be registered:
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The Karnataka Apartment Ownership Act 1972: An apartment owner’s association can be formed under Karnataka Apartment ownership Act 1972 but it needs all the owners of apartments to gather at one place at the time of registration. If it is difficult to gather all the owners of the apartment at the same time for the registration of association, then alternatively, the builder can register the association if all owners give power of attorney for forming an association and he can submit the entire property to this Act.
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The Karnataka Societies Registration Act 1960: The societies formed under this Act are for the promotion of the economic interest or general welfare of its members, with the objective of facilitating the operation of such a society, may be registered under this Act. An application for the registration of a Co-operative Society shall be made to the Registrar in such form as may be prescribed under the Act. The association formed under this Act is to maintain day-to-day affairs of maintenance. Both Residential and commercial building owners can become member of the society.
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The Ownership Flats Act and The Companies Act: Under this Act a private company can be formed for the maintenance of apartment, both residential and commercial building. All the owners will be issued shares and rules for governing the allotment and transfer of share. This is not effective in Karnataka because the co-operative societies may not have companies as its members.