CMA certificate a must to register condominium deeds

The Condominium Management Authority(CMA) has issued 50 condominium registration certificates to developers while another 90 have been submitted for registration.

Chairman CMA Abul Kalam said at present they are in the process of registering the 90 applications submitted for registration by developers. He said that they expect to issue 500 certificates during the year.

The Registrar General has instructed all Land Registrars that the certificate issued by the Condominium Management Authority(CMA) is mandatory for registration of all condominium deeds.

Kalam said that on their request the Attorney General has given a ruling to the Registrar General to comply with the Apartment of Ownership Act and register condominium deeds only with CMA certificates.

This precautionary method is adopted to protect the buyers and most leading banks now insist on the CMA certificate to grant financial assistance, he said.

Kalam said that the condominium industry is booming in Sri Lanka due to the population explosion, rapid urbanisation and shortage of land. This industry is rapidly changing the skyline of the Colombo city and its suburbs.

A buyer has legal rights in all common elements and common amenities related activities when the entire property has a registered condominium plan. Any alterations and additions to common facilities must follow the CMA acceptable procedure, Kalam said.

He said that all owners of apartments in a condominium must be members of the management corporation. Each and every owner is responsible for controlling, managing, maintaining and administering common elements and amenities or it can be done by the management corporation.

Kalam said that it is mandatory to insure the entire condominium property against fire, civil commotion and riot. The apartment owners have to pay the premium to the management corporation who will pay the insurance policies.

Speaking on dispute resolution, he said, that they don't list all disputes for hearing as the CMA is working on restricted resources. But when a dispute is listed for hearing we get down both parties and solve the dispute to the best of our ability, he said.

SG