Professional Documents
Culture Documents
The apartment culture is of recent origin and has become very popular.
This type of group housing is not alien to the human culture.
Earlier
Developer takes care. Purchaser may have the interior done according to
his needs on payment of some additional fee.
Sanctioning Authority
With respect to sanctioning of plans, the various approving authorities
have powers with some restrictions. The village panchayat cannot approve
a plan of a multistoried building; they can approve the ground and first
floor. The city municipal council can approve a plan of ground and three
floors, like wise the Bangalore City Corporation too have some restrictions
on approval of plans. High Rise Building Complex or a Building more than
8000 sq.ft of land and any building plans exceeding the prescribed height
has to be approved by Town Planning Authority. It must be kept in mind
that any massive violation of the sanction plan will face the threat of
demolition of the buildings at the future date.
It is also necessary to ascertain whether the building has complied with
the Floor Area Ratio (FAR), that is, total built up area permitted on the
plot with prescribed setbacks - vacant space that is left around the
building.
Financial institutions are currently offering long-term loans at a very low
interest rate. Housing finance companies and banks also prefer financing
the flats as multiple beneficiaries live in a single compound and it would
be easy for them to follow up and need not spend much on legal
formalities.
Any high rise structure should have clearance from BWSSB, BESCOM,
FIRE FORCE, TELEPHONE DEPARTMENT and also from the AIRPORT
AUTHORITY OF INDIA.
Disadvantage
No doubt, there are certain disadvantages also, most important is the lack
of privacy which is available in independent houses, where the resident is
the king of the house and has unlimited freedom. The owner of a flat
cannot have additional construction and alteration, even in order to repair
a leak on the ceiling one has to obtain the permission of the association
and the person living on the upper floor.
independent house, the owner may add additional construction as per his
requirements and let out the same to supplement his income without any
hindrance.
Generally local people prefer independent houses. The resale value of flats
is less, since the building gets depreciated and demolishing a flat and
reconstructing it is also not possible. In case of independent houses,
though the building gets depreciated, the land value appreciates. If
necessary the old building may be demolished for new construction. Then
the resale value of an
The purchaser
should be very cautious about the Super built area, on which the price of
flat is determined. Super built up area consists of actual flat area plus
proportionate area of common areas like staircase cum verandah, balcony
and other common areas etc. Carpet area, is the area available for actual
residing. Generally super built up area should not be more than 25% of
the carpet area.
Apartment Owners Association
After the construction and handing over of flats, the owners of apartments
form an association to take care of the needs of the residents and to
upkeep of the common areas. The builder must hand over detailed
drawings of electrical wiring, piping and drainage system to the
association. The builder must also hand over all original Documents of the
Title and Sale deed to the Association, including plan, drawings etc., as