Stilt Parking purchase
2 weeks ago
Hello I want to buy stilt parking and one of fellow society owner is ready to sell it.
Currently society formation has not been Done and owner has parking allotment letter with him provided by builder
Can you suggest what legal procedure and documentation would be required to have that stilt parking title change on my name legally.??
A.Dear Client,
Parking areas, whether they are stilted or open, are typically not included in the Floor Space Index (FSI) and are therefore not eligible for sale. Buyers should carefully review their Builder-Buyer agreement to determine if they are paying for their parking slot. According to Section 2 (n) of the RERA Act, open parking spaces are considered common areas and cannot be sold separately. In a 2010 ruling, the Supreme Court of India declared that developers cannot sell stilt or open parking spaces as individual units.
Parking areas, whether they are stilted or open, are typically not included in the Floor Space Index (FSI) and are therefore not eligible for sale. Buyers should carefully review their Builder-Buyer agreement to determine if they are paying for their parking slot. According to Section 2 (n) of the RERA Act, open parking spaces are considered common areas and cannot be sold separately. In a 2010 ruling, the Supreme Court of India declared that developers cannot sell stilt or open parking spaces as individual units.
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A.Dear Client,
The Parking area (Stilt, Open or whatever) is not covered under Floor Space Index (FSI) and hence is not saleable. Buyers must check the Builder-Buyer agreement specifically to see if they are paying for their parking slot. As per Section 2 (n) of the RERA Act, common areas include open parking spaces, and thus, open car parking spaces cannot be sold. The Supreme Court of India ruled in 2010 that developers cannot sell stilt or open parking spaces as individual units.
The Parking area (Stilt, Open or whatever) is not covered under Floor Space Index (FSI) and hence is not saleable. Buyers must check the Builder-Buyer agreement specifically to see if they are paying for their parking slot. As per Section 2 (n) of the RERA Act, common areas include open parking spaces, and thus, open car parking spaces cannot be sold. The Supreme Court of India ruled in 2010 that developers cannot sell stilt or open parking spaces as individual units.
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A.Dear Sir,
Better to get registered sale deed in respect of such parking place and if possible take the consent of builder and/or consenting signatures of few other residents.
Better to get registered sale deed in respect of such parking place and if possible take the consent of builder and/or consenting signatures of few other residents.
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