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| Sunday, 3 July 2005 |
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Business |
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News Business Features
Editorial
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CMA certificates to protect property buyers by Hiran H. Senewiratne The Condominium Management Authority (CMA) will issue certificates on common facilities and amenities for all condominium developers to protect the interest of property buyers in the country. Under the system, the CMA will issue certificates for condominium developers to provide common elements and amenities to all properties.This is a mandatory requirement for them to register the condominium plans with local government authorities including the Urban Development Authority, said its General Manager Athula Wimalaratne. He said that some developers promise certain things at the original stage to clients and after construction they do not fulfil what they had promised. This prompted them to introduce this system, he said. Wimalaratne said the CMA will issue certificates mainly for each condominium proposed by developers to provide common amenities and facilities to customers. The document is known as the Provisional Condominium Registration Plan, which has also been registered with the Land Registry.The buyer could demand this document from the developer when they purchase the property, since it is a valid legal document, he said. The CMA will issue certificates for semi condominium plans for partly completed buildings and completed buildings, which are a mandatory requirement for condominium developers to go ahead with their business, he said. The CMA will also introduce regulations for all condominium occupants in the country to set up management corporations in every property. "We advise all occupants to form management corporations and to activate it in all condominiums, the General Manager said. Under this system it would manage, administer,control and maintain the property in a systematic way, he said. The management corporation should set up a fund for administrative expenses based on the opinion of the management corporation, he said. The purpose of controlling, managing and administering common elements
and amenities is for the convenience of all occupants in the condominium, he
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