Delhi Apartment Ownership Bill to bring smiles to 20 lakh people flat owners
There is some good news for the flat owners in Delhi’s apartment blocks. Delhi Apartment Ownership (DAO) 1987 Act had simplified the process for the flat owners by letting the builder or promoter of the flat to execute a lease deed, which worked like a sale deed, and spared the owner from paperwork to correctly furnish the title of the property and apply for freehold. However this act was not implemented since 1987, when it was notified. It is now likely to be crapped to make way for a new Delhi Apartment Ownership Bill 2013.
This bill which is currently being drafted will bring a lot of relief to the flat owners who had to go through a lot of bureaucratic red tape and corruption when they had to buy or sell their flats, transfer their properties or apply for a loan against their properties.
Close to 20 lakh people live in Delhi’s apartment blocks can breathe easy now. The urban development minister Venkaiah Naidu had kept this bill under a top priority for his ministry and has decided to make several changes and revisions in the earlier draft.
One major change is taking out cooperative group housing societies and DDA flats from its purview and retaining only privately developed flats.
Source- The Times of India
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