Ownership of land of an Apartment complex

Q: Who owns the land where an Apartment complex is situated. Does it rest with the builder?

Vysakh, Kochi

5th May 2018

Legal in Kochi

ownership type

ownership of land

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Replies (7)

Agree to what Mr Sameer has said.

Sujan Azad Parikh,

5th June 2018

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Pandit Dinanath,

2nd June 2018

Comment

Everything will be written on the consignment. You should have a look at the agreement before buying anything. Even if you are buying anything from any real estate broker you should carefully read all terms & conditions. We, At Zvesta follow some certain standards before moving further with client. We follow transparent consignment strategies with every client.

Raj Pal Yadav, Delhi

19th May 2018

Comment

Basically, it depends on the agreement you have signed with the builder. sometimes builder put some close in the agreement by which indirectly they got the hold on the land. So go through with the agreement carefully.

inmuebles,

11th May 2018

Comment

Hello Vysakh,
An apartment owner in a condominium regime own a portion of, or an undivided interest in, the underlying land.For example, in a condominium with ten equal-sized apartment units, each owner owns their unit together with an appurtenant interest in the common property on which the condominium is situated.
So if the building vanished each owner owns 10% of the land.

Visit www.unplanpropertycare.com for further enquiries.

Unplan Social,

10th May 2018

Comment

Hi Vysakh,
When you are buying an apartment, you are technically buying two things. The first component is the constructed part of the building where the owners will actually reside, while the second is a proportionate share of the land on which the property is built. The latter share of the land allotted to the flat buyer is known as an undivided land share or UDS.

Pravallika, Hyderabad

7th May 2018

Comment

Hello Vysakh
The owner of a single unit has no ownership rights to the land or of any part of the building other than the unit itself. If the building is demolished, destroying the unit without the consent of the owner, the owner is entitled to compensation for the destruction of his or her unit from the person or persons responsible for the demolition.

Raghav TK, Chennai

7th May 2018

Comment

I agree with Raghav. But in a Co-operative Society, the purchaser of a single unit typically becomes a joint owner of the entire building and does have ownership rights in the building and its grounds.

Sameer Pawadia, Chennai

7th May 2018