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The Hindu
The Hindu
National
Staff Reporter

Bill to replace Apartment Ownership Act introduced

Assembly

Tamil Nadu Minister for Housing and Urban Development S. Muthusamy on Saturday introduced a Bill in the Assembly that will replace the Tamil Nadu Apartment Ownership Act, 1994.

The statement of objects and reasons said the legislation was needed to cater to the dynamic developments in the housing industry and the growth of the real estate sector. The legislation would provide an effective delineation of the rights and responsibilities of apartment owners and facilitate effective management and maintenance of apartment community.

The statement said there were practical difficulties in complying with many requirements of the previous law owing to the drastic transformation in the real estate sector.

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