The Karnataka Societies Registration (KSRA) Act of 1960 and Karnataka Apartment Ownership Act (KAOA) of 1972 have 6 notable differences amongst them. They are as follows:
1. Eligibility / No. of Persons
KSRA – 7 members who are above 18 years can get the association registered.
KAOA – 4 apartments to form a building. All the owners have to come together to get the association registered.
However, this tedious process can be avoided by execution of power of attorney from all apartment owners in the name of one, to submit their property under the association.
• Proceedings of the first Meeting;
• Memorandum of Association;
• List of members of Executive Committee with name, address, occupation, age and signature; and
• Bye-laws of the Association
• Year of Construction of the Apartment Building.
• Sanction Plans, Approval Plans and Occupancy Certificate of the Apartment Building.
• Declaration and Deed of Apartment made in respect of every apartment contained in the building forming part of the property together with a memorandum. This can be done in a single Deed listing out all the apartments
• Khata to be changed in the name of the owner (s)
• Sale Deed/s of the Land on which the Apartment Building exists.
• No. of Owners in the Apartment Building and Sale Deeds of such owners.
• Prospective name of the Apartment Association/ Society.
• No-Objection Certificates from local Bodies.
3. Time of Registration
KSRA – The moment 7 members above the age of 18 years consent becoming members, and registering the Society/ Association.
KAOA – Only when all the owners are present and come together with their consent.
4. Authority –
• Registrar- officer appointed by the State Government;
• where no such officer is appointed, the Inspector General of Registration in Karnataka.
Jurisdictional office of the Sub Registrar
5. Annual Compliance
a) General meeting: Every society registered under this Act shall hold every year a general meeting called the annual general meeting at which: report of the management of the society for the previous year, audited copy of the balance sheet, income and expenditure and account and the auditor’s report shall be submitted for approval.
b) The first annual general meeting shall be held by a society within 18 months of its registration. The next annual general meeting of the society shall be held within 9 months after the expiry of the first annual general meeting.
• Balance sheet and annual list of governing body to be filed with Registrar: On or before the 14th day succeeding the day on which the annual general meeting of a society is held.
• To be filed with the Registrar names, addresses and occupations of the members of the governing body then entrusted with the management of the affairs of the society copy of the balance sheet and income and expenditure account audited by a person who under section 226 of the Companies Act, 1956 (Central Act 1 of 1956), can act as an auditor of companies.
• Accounts: The governing body of every society registered under this Act shall keep at the registered office of the society or at such other place in the State as the governing body thinks fit, proper books of account with respect to
(1) all sums of money received and expended by the society and the matters in respect of which the receipt and expenditure takes place;
(2) all sales and purchases of goods by the society; and
(3) the assets and liabilities of the society.
No Annual Compliances mandatory under the Act. However, governing powers need to be captured under the Bye-laws of the association.
6. Stamp Duty and Fees
a) For Registration of Memorandum of association and rules and regulations of Society under Sub-section (1) of section
i) if society is situated within Bangalore Metropolitan Regional Development Authority limits: Rs. 1000/-
ii) if society is situated in any other area: Rs. 500
Stamp Duty will be ascertained upon production of the Declaration of Deed and other documents prescribed above.