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Constructing a room for renting out to ATM in common area

Q: Is it allowed to construct a room for renting out to ATM in an Apartment common area with permission from all the residents? Are there any laws against doing this? I am thinking of this to generate revenue to our association.

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Replies (4)
1
Sasi Kanth, in our apartment we have got an ATM. When we had approached bank for details on legality of setting an ATM, we understood few things- if you already have a room for ATM in the common area of your apartment community, then you will have no need to take legal permissions. But if you have to construct a room for ATM newly then you will have to get permission.

You have to concentrate on one more thing, that is, banks will set up an ATM only if the location is profitable to them. Generally, if the ATM is inside a gated community then only the residents will be allowed to use it, if public is allowed to use then there will be security issues. Or you can think of constructing it along the compound wall such that the entrance for ATM will be outside, so that outsiders will also have access to it.
Sushant


2
Hey guys, I have no idea about legal approvals for setting up ATM in apartment complex.. But I have a suggestion.. If you can consult right person from the bank of which you are planning to get ATM, may be he could give you enough details about the formalities and procedure. And just to know, how many flats are there in total in your community? And is it a good location for this?
Ramesh Reddy


3
Thanks Nagesh for the response. Getting confirmation from residents and actual construction would be simpler jobs considering he return on this investment. Would like to understand various approvals from BBMP or any authorities to be taken. Would like to ensure that we don't get into legal issues.
Sasi Kanth Vallem


4
Hi Mr. Sasikanth, the idea seems great.. ATM would require just a small space, and if none have objection in your apartment then you can go ahead with the plan.
Nagesh


5

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