(Bangalore property|2bhk apartments for sale in bangalore|flats|lands for sale in Bangalore)
People with different
culture, taste and habits living in separate dwelling units situate within a
compound is not new to the country as it was prevalent in the past under the
name and style as Vatara houses wherein
small dwelling units were constructed within a compound for occupation and use
by different families as their residence.Vatara houses were constructed in horizontal or in L shape rows with single storey
structures unlike the present day multiple storey vertical apartments.
Apartment culture
Apartment culture, though
of recent origin, has gained tremendous acceptance by the people in a very
short time.Generally, it is seen that in apartments, people of different back-
grounds, origin and culture live in good harmony and brotherhood. Shalimar
Apartment, built in early seventies was probably the first Apartment that was constructed in Bangalore.Apartment culture further gained acceptance
in early eighties when several apartments were built in Malleshwaram and other
places. Since-then construction of apartments is in full swing in Bangalore and
a large number of reputed builders and Promoters are busily engaged in the
development of different Apartment Projects
in and round Bangalore to meet the ever increasing demand for
commercial and residential apartments.
Merits of apartments
Apartments have certain
advantages in comparison with the independent
houses. The first and foremost advantage the
purchaser of an apartment will enjoy is that he need not have to worry about
the issues like obtaining plan sanctions, finding a building contractor,
supervising the construction work, obtaining basic amenities such as water,
power, sewerage facilities for the building and so on which is taken care of by
the Developer.The purchaser of
apartment need not have to worry for any civic
problems which he may encounter after his occupation of the apartment, since
these problems are tackled by the Apartment Owners Association/Builder for
which a nominal charges are levied.
The next advantage an apartment owner gets would be the social harmony he would
get due to community living. A sort of bondage is developed amongst the residents of
apartments.Further, for the exclusive use of apartment
owners / occupants almost all the apartments now-a-days, do have facilities
like gym, health-club, recreational
center, sports club, swimming pool, private
security system within the premises for which again a nominal fee is charged.
Demerits of Apartments
Even though living in
apartments do have many advantages, they are not totally free from
disadvantages. A Person who lives in an apartment generally is deprived of his
privacy. Further, the apartment owner is prevented from carrying out any major
addition, alteration or modification to his apartment to suit his needs. All
such repairs, alterations and modifications are to be carried out with least
inconvenience to other apartment owners and any damage or loss caused to the
other apartment owners are to be compensated. The amount collected by the Apartment Owners Association to meet the expenses for general maintenance and
upkeep may be more than what a person would have spent had he owned an
independent house and could be much more than what is required for such
maintenance. There is every likelihood of such a common fund being misused by
the office bearers of the Association or over which there could be some
misunderstanding amongst the apartment owners leading to unsavoury situation.
Apartments would fetch a much lower price compared to an independent house
during its second sale. Further, any dilapidated single apartment would fetch
no buyers since the land on which such apartment is built is owned by all the
apartment owners and the seller does not have the exclusive ownership right
over the land on which such apartment is situate.On the contrary, a
dilapidated independent house would generally get prospective buyers
irrespective of the condition of the structure since new structures could be
put on such sites after demolishing the existing ones and the seller of such a
dilapidated house will transfer his right, title and ownership of the land as
well.
How to proceed?
As in the case of purchase
of any other property, verification of ownership title is one of
the pre-requisites for purchase of an apartment also. Though the builder of
apartments provides legal opinion given by his advocate regarding subsistence
of marketable and valid title of the vendors, it is always better that the
intending purchaser of an apartment gets the title report of the property
scrutinized from an advocate of his choice having vast knowledge and experience
in property
dealings.The legal scrutiny report shall contain
detailed information regarding the origin, flow of title, present status of the
owner, validity of the OPA, Joint Venture, if any, entered into between the
owner and the Developer.
Another very important aspect which requires consideration is to ascertain
whether the approval for construction of apartments and the plan has been
obtained form the competent authority and to find out whether commencement and
completion certificates have been issued by such an authority.
Location of the building is another important aspect which one has to consider
before purchasing
an apartment.This is mainly because any building which
has no proper access to main roads with insufficient public transport and other
civic amenities such as water, electricity supply, proper, sanitation, parks,
market place, hospitals, schools, etc. would put the purchaser of flat to a
great hardship and inconvenience.Apart from all these, the previous history and
record of the Builder is necessary to be verified for which purpose, it is
always advisable to visit some of the4 projects executed by the builder in
advance.
Powers of the Sanctioning
Authority
For grant of approval for
building construction and the plans, different authorities are delegated with
this power under different statutes. While, the village Panchayats are
empowered to give license for construction of building consisting of ground and
first floor, the City Municipal Corporation can approve plans for ground plus
three upper floors. The BMP or BDA can approve building plans of land for
construction of multistoried buildings apart from constructing an independent
house. In the case of high rise buildings consisting of more than four floors,
No Objection Certificates form BWSSB, BESCOM, Fire force authority, BSNL,
Airport Authority of India and Karnataka State Pollution Control Board are to
be compulsorily obtained.
It must be kept in mind that anyone who violates the building bye-laws and
zonal regulations would expose himself to the risk of demolition of such
structure any time in the future.
Conveyance / Sale Deed
Normally, before purchase
of an apartment, a sale agreement is executed by the Owner, [represented by the
OPA Holder where there exists a OPA holder] and the Builder, agreeing to sell an undivided share in the land in favour of the intending purchaser. While at
the same time, a construction agreement is also executed by the Builder in favor
of the intending purchaser agreeing to construct an apartment for him. Once
construction of apartment is complete, a sale deed is executed jointly by the
vendor of the land and the builder/Promoter in accordance with the terms and
conditions of the Joint Development Agreement, if any, in favor of the
purchaser. The sale deed specifically recites the duties and responsibilities
of the buyer and the seller. As regards sale consideration, it is arrived at
upon consideration of the various aspects such as location, specification of
the work, carpet area and percentage of Carpet area to Super Built up Area and
as agreed to between the parties.
Undivided Share of Land
Undivided share is the
percentage of share conveyed in the total land along with the apartment to the purchaser.This
percentage depends upon the built up area of an apartment and the actual extent
of land upon which the apartments are constructed. As the built up area
increase the undivided share over the land also increases.
Super Built-Up Area
Super built up area is the
saleable area generally applicable to apartments. Super built up area consists
of actual flat area
plus proportionate common areas like staircase cum verandah, balcony, lift area
and other common areas etc. Since the price of an apartment depends upon
the super built up area, it is advisable for the purchaser to have some
knowledge about Carpet area, plinth area and super built up area before purchase of an
apartment. Generally super built up area should not be
more than 25% of the carpet area.
Purchaser shall bear registration expenses
It is obligatory on the
part of the purchaser to bear the expenses incurred towards stamp duty,
registration charges and other incidental expenses to be incurred in connection
with the registration of the apartment. Infact, the Builders are collecting
Sales tax, service tax, statutory deposits for Bescom and BWSSB.
Registered sale deed
Registered sale deed is the
primary document which establishes ownership title of the apartment in favour
of the purchaser. Relying on the sale deed the concerned Revenue authorities
issue other supporting documents of title such as Khatha Endorsement, Khatha
Extract and the Tax paid receipts.
Registration under Apartment Owners' association
After completion of
construction and handing over of the apartments to the purchasers, the owners
of such apartments are required to form an association for the general
well-being of the owners or residents of the apartments and for maintenance of common areas.
Upon formation of such an association, the builder is duty bound to hand over
originals of all the relevant title deeds, detailed drawings of electrical,
water and sanitary lines to enable the Association to utilize the same for the
common good whenever required.
A word of caution
Do not go by glossy
advertisements and tall claims of the builder. There are several instances
wherein the apartments purchased by a few are inflicted with certain latent
defects which remain unattended to by the builder when once the sale
transaction is complete pushing the purchaser to suffer both in terms of
comfort and finance.There are many reputed builders available in the market
with impressive track records.Choose anyone of them and have a peaceful
enjoyment of your apartment.
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