Builders selling parking space in apartments is illegal
Realty builders of Bangalore are unauthorised to sell parking spaces, but still they collect money and provide ownership of the space to their tenants.
Taking advantage of the ignorance of their tenants almost all the builders in the city have made it a practice to sell parking spaces in apartment complexes, gated communities and so on.
However, the Karnataka Apartment Owners’ Act, 1972, clearly forbids such places from being sold.
The Act which states that no ‘undivided common area’ can be sold by the builder, defines common area to include basements, cellars, yards, gardens, parking areas and storage spaces.
Many builders sell properties along with the parking area violating this law. It is also found that some builders have sold more than one parking plot to buyers.
To read more real estate news:
Plastic-free wards will be rewarded with Rs 1 lakh, Mayor
Buying house is no more a better investment for youngsters
Source: Deccan Herald
Apartment complexes, basements, Buyers, cellars, Gardens, Gated communities, Karnataka Apartment Owners’ Act 1972, Ownership, Parking Spaces, Realty builders of Bangalore, sell properties, Tenants, undivided common area, yards
[...] Builders selling parking space in apartments is illegal [...]
[...] Builders selling parking space in apartments is illegal [...]
[...] Builders selling parking space in apartments is illegal [...]