President Solih ratifies Strata Act
The act will come into effect after three months
President Ibrahim Mohamed Solih
The Strata Act has been ratified.
President Ibrahim Mohamed Solih ratified the bill on Monday and it has been publicized in the government gazette since.
The bill, passed by the People’s Majlis on November 29 at its 44th sitting of the third session of 2021, will come into effect three months from ratification date.
The act ratified on Monday enables to subdivide land into strata and the collective sale of property, to provide for proper maintenance and management of buildings and to give opportunities for the developers to develop real estate businesses.
In addition, the act governs the authorization of strata plans and strata schemes and the use, ownership, sale, lease, and maintenance of units and defines the rights and responsibilities of subsidiary proprietors, management corporations and local councils.
With the ratification of the Strata Act, the Section 19, and Sections 31 through 36 of the Land Act have been repealed. The repealed sections contain the provisions relating to Strata buildings.
