Q.: in our Apartments ( 12 flats) the builder, represented by seller’s GPA has sold the open land in front/rear of ground floor flats to them and a car parking at the main entrance gate to 3rd floor owner. Schedule of A property measures 7190.5 sft. Schedule B property spells out an undivided share, right, title and interest in that piece and parcel of property described in. Schedule ‘A’ mentioned, equivalent to 538.80 sq.ft. for C type flats 570.40 sq.ft. to B type flats measuring 688.30 sq.ft. to A type flats C schedule spells out individual flats super built up area; together with proportionate share in common areas with car parking. That is the sale deed puts the owners in physical possession of 538.80 sft. (C type) 570.40 sft.(B type) and 682.30 sft.(A type) undivided interest in the said schedule property.
Also the builder/sellers have retained the right to use the Terrace to put up further floors but the facilities provided including lift are just sufficient for 12 flats. Is it lawfully right to sell the common land, car parking at the main entrance to the 3r floor owner. Is it lawfully right to retain the terrace rights and put up further floors?
A.: Unless the documents are verified it is not possible to offer specific legal advice and the advice given here under is of general nature.
The common area is the property of all the flat owners meant for general/common use which is proportionate to the undivided share of the land. Car parking is also linked to the undivided share and is not a separate distinct unit as such.
Entire land is divided by total built up area to arrive at undivided share. Common areas and car parking cannot be sold separately independent of flats. On sale of all the flats entire undivided share of the land is sold that 100% of the undivided share. After the sale of 100% undivided share, any purchaser of only car parking or common area without the flat, will not get legally valid right, title, interest.
With regard to retaining terrace rights to construct further fats, it depends on the permissible FAR and approval of plans from the proper authority any structure beyond 30 feet height needs to be approved by Town Planning Authority.
Builder/Owner is also required to transfer the entire property to the owners’ association. You make take up the matter through owners association.
Q.: Please inform me how the stamp duty is calculated on residential house at Mysore of Rs. 11, 00,000/- which I intend to purchase?
A.: The Revised stamp duty payable on conveyance is 8% of the market value of the property. In addition, infrastructural development stamp duty of 5% and surcharge of 2% on the stamp is payable. Stamp duty payable on the residential house of Rs. 11,00,000/- at Mysore is calculated as follows:
8% on Rs. 11,00,000/- Rs. 88,000/-
5% additional stamp duty on the stamp duty
Towards infrastructural development 4,000/-
2% surcharge on the stamp duty 1,760/-
Total Rs. 94,160/-
In addition to the stamp duty, registration fee 1% on consideration is payable.