Q: I am member in society and had brought parking space from builder in 1990 and then sold the parking to the other member in 2009 , now with the new SC rule , the society is troubling me to handover the parking premise saying I have no right to keep them with me and my sale of parking space is illegal . can you provide me judgement copy which says that I have to only handover the parking only once when I sell my flat
Hi Bhakti, I agree with Deepak, however, you may consider renting out the space if it is agreeable to the housing society. As yet, there are no tax implications on such rental income, but it will be better to check with a tax expert before doing so.
According to 2010 Supreme Court ruling, flat buyers need not pay extra money to buy parking spaces from property developers. The promoter has no right to sell any portion of the building which is not a flat. The rule of thumb is that no member will be eligible for allotment of more than one stilt/covered parking space per flat. If any slots remain vacant for want of buyers, a second parking space may be allotted to interested members. This procedure is supposed to be followed on an annual basis.