Under Section 11 of the RERA Act, it is the duty of promoters to facilitate the formation of an Association of Allottees (AOA). his association plays a crucial role in representing the interests of homebuyers, ensuring collective decision-making and effective management of the real estate.
Compliance with both the RERA Act and local laws is essential for the legal establishment and operational efficiency of the AOA.
The process of forming an AOA involves several critical steps, including drafting and registering the association’s bylaws, conducting elections for office bearers, and ensuring adherence to statutory requirements. Effective management of the AOA requires continuous administrative support, financial oversight, and regulatory compliance to maintain transparency, accountability, and operational efficiency.
Benefits:
1.Regulatory Compliance: Ensures the AOA is formed and managed in accordance with RERA and local laws, preventing legal issues and penalties.
2.Empowered Homebuyers: Facilitates collective decision-making and representation of homebuyers' interests, promoting their active involvement in property management.
3.Transparent Governance: Promotes transparency and accountability in the association’s operations, building trust among members.
4.Efficient Administration: Provides structured management and administrative support, ensuring smooth and effective functioning of the AOA.
5.Financial Integrity: Ensures proper financial management, including budgeting, accounting, and auditing, safeguarding the association’s resources.
6.Dispute Resolution: Facilitates the resolution of disputes among members and with the developer, maintaining harmony and cooperation within the community.
Why Choose ApexRERA?
1.Expert Knowledge: Our team possesses extensive experience in forming and managing AOAs, with deep expertise in RERA and local legal requirements.
2.Comprehensive Support: We provide end-to-end services, from drafting bylaws and registering the AOA to ongoing management and compliance support.
3.Customized Solutions: Our services are tailored to meet the specific needs and challenges of your project and the AOA.
4.Timely Execution: We ensure timely and accurate completion of all necessary steps, facilitating a smooth formation and efficient management process.
5.Transparent Operations: We prioritize transparency, integrity, and accountability in all our services, ensuring the AOA operates effectively and in the best interest of its members.
6.Ongoing Assistance: We offer continuous administrative, financial, and legal support to help the AOA navigate challenges and maintain compliance.
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