Residential Zone Association. All the purchasers/allottees of all the 3 (three) Towers shall form an association, hereinafter referred to as the “Residential Zone Association”, in order to ensure the effective and proper management and maintenance of the Residential Zone Shared Common Areas. Upon formation of the Residential Zone Association, the Promoter shall transfer the Residential Zone Shared Common Areas to the Residential Zone Association along with the responsibility to maintain the Residential Zone Shared Common Areas. It is clarified that the Residential Zone Association shall be formed, and the Residential Zone Shared Common Areas shall be transferred to the Residential Zone Association only after a date falling after the completion of all the Phases. Provided that if such Residential Zone Association cannot be formed due to reasons not attributable to the Promoter, the Residential Zone Shared Common Areas shall then, at the discretion of the Promoter, be transferred to each of the associations of the Project and Phsae-1 proportionately and thereafter the said associations shall collectively takeover the maintenance of the Residential Zone Shared Common Areas.
Residential Zone Association. All the purchasers/allottees of the Complex shall form an association, hereinafter referred to as the “Residential Zone Association”, in order to ensure the effective and proper management and maintenance of the Residential Zone Shared Common Areas. Upon formation of the Residential Zone Association, the Promoter shall transfer the Residential Zone Shared Common Areas to the Residential Zone Association along with the responsibility to maintain the Residential Zone Shared Common Areas. It is clarified that the Residential Zone Association shall be formed, and the Residential Zone Shared Common Areas shall be transferred to the Residential Zone Association only after a date falling after the completion of all the Phases. Provided that if such Residential Zone Association cannot be formed due to reasons not attributable to the Promoter, the Residential Zone Shared Common Areas shall then, at the discretion of the Promoter, be transferred to each of the associations of the Project proportionately and thereafter the said associations shall collectively takeover the maintenance of the Residential Zone Shared Common Areas.
