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Q 1
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What are the cases to which the
Apartment Act is applicable ? |
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Ans
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The Act is applicable in cases where owner or all owners sign
the required declaration and register the same as provided in the act. It
applies to the apartments used for residential purpose.
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Q 2
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Ans
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Apartment is an independent dwelling unit having one or more
rooms and part of a building with one or more stories providing access to place
of common usage and road.
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Q 3
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Ans
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Building is a structure with four or more apartments.
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Q 4
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How to acquire ownership under Apartment Act? |
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Ans
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The deed of apartment should be signed and registered (Please
see Karnataka Apartment Ownership Act 1972 and Rules 1975 for details)
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Q 5
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Ans
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Flat is an independent unit of building for use as residence.
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Q 6
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What are the conditions to purchase a flat? |
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Ans
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A developer of flats must register an agreement before
accepting advance of deposit. Such advance, deposit shall not exceed 20% of
agreed condition.
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Q 7
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How ownership of flat can be acquired? |
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Ans
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Developer of flat is required to transfer it to the registered
association, co-operative society or company of buyers of flats within the
period of agreement. He should also endeavor for formation of such association,
co-operative society or company within prescribed period.
Formats are provided in the 'Act' for registration of flats. They may be
registered after prescribed stamp duty is paid (Please see Karnataka Ownership
Regulation of Promotion of Construction, Sale Management and Transfer Act 1972
and Rules 1975)
Registration is compulsory. A purchaser will not get ownership title to the
flat without registration.
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Q 8
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Is it necessary to register transfer deeds
executed by or in favour of co-operative society? |
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Ans
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Section 38 of Karnataka Co-operative Societies Act, 1959 is
amended w.e.f. 01-04-2001. As per the amendment, documents relating to
immovable property executed by or in favour of a co-operative society should be
compulsorily registered (Act No.6 of 2001). This amendment applies to flats,
apartments built by co-operative societies also.
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Q 9
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How right is transferred in case of sale of
flat/apartment?
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Ans
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Sale of flat/apartment is as simple as any other sale
transaction. A purchaser acquiring rights may register sale deed in office of
the Sub Registrar.
Purchasers of flats/apartments may note following small difference in transfer
of flat/apartment as compared to that of transfer of site, house. Ownership of
flat/apartment comprises of the following rights namely,-
a) Undivided interest in land;
b) Carpet area of flat/apartment and
c) Proportionate share in common area.
Purchaser can become absolute owner of flat/apartment after sale
of all the above three rights together describing in sale deed and registered.
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Q 10
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Is it not possible to become owner of
flat/apartment by purchasing undivided interest in land only,through a sale
deed ?
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Ans
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It is not possible to become owner of flat/apartment by
describing only undivided interest in land in the sale deed.
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Q 11
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What are the precautions to be taken while
purchasing flat/ apartment? |
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Ans
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While purchasing flat/apartment, the following matters may be
verified and ascertained that they are correct:
(i) Agreement to sell with promoter should be compulsorily
registered in Sub Registry Office, there after sale deed also should be
registered.
(ii) Permission for construction of flat/apartment and sanctioned plan should
have been approved by City development authority/ Corporation / Municipality /
Panchayat.
(iii) Whether promoter/seller has right to sell the property.
(iv) If sale transaction is by a General Power of Attorney
holder whether general power of attorney is valid on the date of
transaction/sale deed.
(v) Flats/apartments constructed in violation of sanction plan
should not be purchased.
(vi) Verify whether occupancy certificate is obtained from the
local authority.
(vii) Verify whether deed of declaration and Co-operative
society or company is formed and registered.
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Q 12
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Is it valid to get transfer ownership of
flat/apartment through transfer of share by the co-operative society without
registered deed? |
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Ans
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It is not legally valid. Co-operative Societies who allot flat/apartment to its
members should compulsorily register sale deed in Registry Office under
Registration Act, 1908.
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Q 13
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Is there any concession of stamp duty for
sale deed relating to flats/apartments? |
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Ans
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No.
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