EN­CROACH­ING UPON BUY­ERS’ RIGHTS

HT Estates - - FRONT PAGE -

The Real Es­tate Regulation Bill, while defin­ing com­mon ar­eas, has in­cluded ‘open’ park­ing ar­eas in com­mon ar­eas, among other things By as­so­ci­at­ing the word ‘open’ with park­ing ar­eas, the Bill ex­cludes stilt park­ing as part of com­mon ar­eas and fa­cil­i­ties Builders can­not sell com­mon ar­eas and fa­cil­i­ties sep­a­rately and have to hand them over to the as­so­ci­a­tion of apart­ment own­ers free of cost once the pro­ject gets a com- ple­tion cer­tifi­cate Home­buy­ers ar­gue that the ex­clu­sion of stilt area from the com­mon ar­eas and fa­cil­i­ties will le­git­imise the sale of park­ing in the stilt area – a space that should be­long by right, and free of cost, to the as­so­ci­a­tion of apart­ment own­ers Home­buy­ers also ar­gue that de­vel­op­ers will cre­ate open park­ing in green ar­eas and not set up parks and do other green de­vel­op­ment in the hous­ing so­ci­ety

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