Condominium, is a group of housing units where owner of each home owns individual unit space and ownership of common areas is shared by all. Every unit is called “apartment” and owners the apartment owner(s). A condominium is formed under Maharashtra Apartment Ownership Act, 1970.
In Condominium the Court having jurisdiction over the area in which the Condominium is located hears the disputes.
In a Condominium every apartment owner has voting right in proportion to the value of his premises, which is generally as per the area of the apartment and is defined while forming the Condominium.
In condominium, members of the apartment owners association elect a “Board of Managers” which in turn elects President, Vice-President , Secretary and Treasurer to manage day to day affairs.
In condominium, it is an apartment. If an apartment owner fails to comply with the byelaws, rules and regulations, either damages or injunction relief or both can be claimed against him.
The above are certain basic information about the condominium.
What is that you wanted to clarify here