You can mention the same
Property share to be mentioned for a floor
Need to understand the property share percentage to be mentioned for a single floor in a residential builder floor having a basement , parking and 4 floors ? Also in New Delhi, there may be a probability that government may allow an additional floor ( 5th floor). So if that happens in future then it will contradict / dilute the percentage overall for each floor. How to handle this in agreement for single floor to be sold as of now to avoid giving some percentage value ? How do I mention in the sale agreement for selling a floor now which allows me to construct additional floor when government allows it, and have the right with me completely for additional floor with percentage modified accordingly ?
Asked 3 years ago in Property Law
Religion: Hindu
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9 Answers
If you want you know share of joint owner in common are, there cannot be pre determined/separate share of a joint owner. Where there are four joint owners, each will share ¼ ownership in stair cases, lifts, staircase and lift lobbies, fire escapes, and common entrances and exits of buildings, common basements, terraces, parks, play areas, open parking areas and common storage spaces. But no owner can claim a particular ¼ space as his own. Common ownership fluctuates, if a fifth floor is constructed, each will share 1/5. In sale agreement it will be mentioned as ¼ or 1/5 of common area depending on numbers of owners.
sale deed should mention area of flat sold to you
It should be mentioned in agreement that in event government permits construction of additional floor you would be at liberty to carry on said construction without consent of other flat owners
I believe Stilt floor ( parking) is a common floor but basement floor in residential would not be considered common area if we have separate Stilt floor. I am single owner of 4 floors and basement floor with stilt floor as common area separate. I am aware that common area is equally distributed. Since basement floor is a separate floor ( not part of Stilt floor), so there must be some percentage of basement floor among other 4 floors to be considered as basement floor is not a common one ? I am selling one floor now with terrace rights to be retained with me except for using it for storage tanks/Dish connection. If I construct additional floor on Terrace then as per my understanding I will hold the right on it. Is it correct ? Do you meant that once additional floor is constructed, I will hold the right of additional floor since Terrace right is retained with me and overall the percentage of share of property would become 1/5th ?
Asked 3 years ago
Under the building by-laws for storage and parking, basement space cannot be a part of FAR. According to the regulations of the National Building Code or building by-laws, a basement can be used only as a storage, dark room, bank cellar, parking space or to keep equipment requiring constant air conditioning
For carrying on additional construction on the terrace you would need consent of all flat owners
if they refuse muncipal corporation would not permit any construction on terrace
If you are desirous of selling one floor to the prospective buyer, you may make it clear in the sale deed that the the buyer is entitled to the rights limited to the floor being sold to him and not beyond that except for the rights in the common areas of the complex.
You may also make mention in the deed that the buyer is not entitled to any rights in the terrace and the terrace rights are held by you exclusively which will be utilised by you at the time or a future requirement for constructing a floor above his floor.
You can sell the property to the buyer who agrees for this condition.
As informed in my previous post, you can retain the rights over the terrace.
The stilt floor may have common areas to be shared by the owners of all the floors, however the basement floor do not come under common areas, the owner of the basement floor would enjoy the rights of the said floor absolutely.
Yes
Under Section 2 (n) (iii) of Real Estate (Regulation and Development) Act, 2016 common basements, terraces, parks, play areas, open parking areas and common storage spaces in included common area.
Dear Client,
You may add a clause in the sale agreement stating that the builder shall be allowed to construct the additional floor as per the permissions of the Government, and such that, no consent shall be required from the other flat owners of such construction.
Once the construction of such additional floor is completed, you may require to make a deed that the other flat owners would not be permissible in such floor since you are the owner to it.
Thank you.
