NCP Buyers Association Formation Meeting 30 Jan

Click here : Join the Meeting event :JAN 30 2016, 10 AM

Buyers of many under construction projects in the region form group to fight against the builder.While the group of buyers can put pressure on builder through means of constant meetings, emails and protests, it is equally significant to give it a legal standing by virtue of which the group may fight the case as a registered entity.Also, this would enable core members of the group to get contribution from group members/buyers in a traceable manner with complete book keeping.
Hence, it becomes imperative for such a group to register the buyer’s association under Societies Registration Act of 1860 .

Below is the process to form registered association of buyers:

  • At least 7 buyers with local (where property is located) address proof.
  • At least 1 buyer with local (where property is located) permanent address proof.
  • Elect/choose the office bearers – President, Vice President, Treasurer, General Secretary, Secretary among these 7 odd buyers and share the same when applying.

Post formation of the buyer’s society/association, you may open a bank account and apply for PAN card.Update model bye-laws if required and share the same with the members.Invite other group members for joining society/association after defining the minimum joining fees that shall be in form of cheque in favor of society account.After this, contribution can be collected legally as and when necessitated.Ensure that responsibilities are well communicated to the office bearers and the members.

You may also fight the case against builder legally in consumer and other jurisdiction courts as a registered association.

Note: This buyers association is different from RWA (Resident welfare association). The RWA can only be formed by people residing in the project after possession once a minimum timeframe post possession (of minimum percentage of total flats) has crossed.

Join the association and share your details one time only

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