Q:Hi all,Just wondering if any owners here have received notification from IREO of the changes in transfer rules recently. They plan to allow transfers only till July end, post which the transfer charges are being unilaterally revised to a draconian 500 per sq ft for towers A and B! I would like to solicit views on whether such amendments are legal at all? Are builders allowed to set arbitrary transfer charges for under construction properties?
Latest Answer: Possession of the apartments has been offered now, with extra demand beyond Buyer's Agreement as follows:
1- About Rs. 5 lacs hidden and unexplained taxes etc,
2- Exorbitant compulsory club membership fees of Rs.5.75 lacs, limited for 20 yrs
3- Interest on advance payments according to scheme not adjusted in the demand note
4- No response to emails for explanation of above extra charges etc, leaving allotees furious but helpless
5- Buyer's Agreement signed by allotee covers Ireo to good enough to blackmail and force allottees to pay all above under the pressure of penalties and further loss, while Ireo using the tactics of time consuming by lack of response
6- Not allowing allottees to see their own apartment before all the demanded money is paid, so that they do not get chance to complain about quality of the apartment as compared to what was promised via videos/catalogs assuring so called "Modern Age Living" etc, which as reported by some is not even close to that in reality
Latest Answer: It is not true. Because the forum found that there was no evidence to prove the builder's dispute that the draft of the conveyance deed had been sent to the Society for approval. Similarly, there was no documentary evidence to prove that the builder had handed over the original title deed and other documents.
Latest Answer: Hello All,
1. Is Indiabulls golfcity phase 1 and 2 approved? Have they got CC? As far as I know, Indiabulls have not got CC.
2. Is Indiabulls golfcity phase 1 and 2 projects are freehold or under leasehold (66 / 99 years)?
Regards,
Mangesh
Q:I feel confused about the distinction between Co-op Hsg Society & formation of an Association for FLAT owners in Goa. Do Karnataka laws apply in Goa? Do the Byelaws 2009 cover Goa and for forming an Association?
Latest Answer: The Bye-Laws can be framed by the Association itself and it will become applicable if it is signed by all the members of the Association and Registered with the Registrar of Socities. And nobody can challenge the Bye-laws there after.
You can check this link for further information: http://www.mca.gov.in/Ministry/actsbills/pdf/Societies_Registration_Act_1860.pdf
Q:The Department of Stamps & Registration, Government of Karnataka has recently, released the draft revision of market value in properties in Bangalore, Urban & Bangalore, Rural Districts. The draft includes rates for Car parking and lifts in Apartments, according to which there will be registration charges for car parking. The Hon'ble Supreme Court of India, had in an Judgement pronounced on 31st August, 2010 [NAHALCHAND LALOOCHAND PVT. LTD. Vs PANCHALI CO-OPERATIVE HOUSING SOCIETY LTD.], had held that car parking areas cannot be sold by builders because they are covered under the definition of common areas. Also, the Karnataka Apartment Owners Act,1972, clearly forbids the sale of common areas and facilities, which includes parking areas, Elevators, gardens etc., So, if the department allows sale and registration of car parking and lifts, does it amount to contempt of court and violate he provisions of the Karnataka Apartment Owners Act, 1972 ????
Latest Answer: Section 3 of “Karnataka Ownership Act, 1972 (Act No.17 of 1973) deals with the definitions. Sub section (f) of the said section defines and contains the list of “Common areas and facilities”. Again Clause (3) of sub- section (f) of Section 3 of the said Act includes – The basements, Cellars, Yards, Gardens, Parking areas and Storage facilities as “Common areas and facilities”. According to this definition car parking is included in the common area and builder/ developer should not charge separately for car parking.
However the aforesaid sub-section (f) while defining “Common areas and facilities” states that “Unless otherwise provided in the declaration or lawful amendments thereto”.
Builders / Developers take advantage of this stipulation and while entering into the sale agreement and drafting of the final sale deed make the purchaser agree to pay separately for the car parking and they escape the implication of the judgment referred to in the question.
We are the legal advisors on real estate for Commonfloor.com and will be happy to provide you with the answer below. If you still have any questions/clarifications then kindly email us or call us and we will respond to you. It will be a paid service though.
Q:I am residing in an apartment in Hyderabad. Few days back I was asked to give some funds (Sinking Fund) to my respective Co-operative Housing Society. Someone let me know why they are collecting this kind of fund?
Latest Answer: Co-operative Housing Society collects the Sinking Fund for the development of the apartment. The fund amount is decided by the General Body of the society. They use this fund for reconstruction, repair, and structural addition to the apartment. This fund is collected for the benefit of the apartment members.
