Society or Association ?
We own a commercial property in sangli city, in that we have sold few shops and we have kept around 60% of shops. All these shops were on our company name as we were the developer. Now we have invested in all the common areas, generator, Lifts, escalators etc and we look after all the maintenance by collecting maintenance charges from tenants. We are facing lots of issues from corporation and other corporators regarding unnecessary compliance and threats of vested interest etc, and as developer and management of this building, everything is coming to our name directly. Someone suggested us to form a society or association so that it is easier to handle these situations and it avoids direct name of the developer. Now as we have invested in all common area equipments and amenities, we want to keep the ownership of these things with us and do not want to handover to society or association. Is this possible? and is it a good idea to form a society or association ? Also at present we have all rights on common areas like passage and parking, we also collect parking charges. So if we form society or association is it possible for us to keep these ownership with us. Please guide us.