Apartment culture is gradually getting established in all metro cities and people are purchasing flats as they provide security and community living.
Purchase of flats/apartments is an altogether different transaction from that of purchase of an independent house. In addition to the multiple laws governing immovable property transactions, the Apartment Ownership Act and Rules play a very crucial role in the purchase of flats. In addition to the owner, the builder and promoter also comes in to the picture and purchaser also finds it difficult to understand the concept of super built up-area, carpet area, common area, amenities, undivided share, formation of housing Cooperative Societies etc.
This book is a comprehensive one and deals in detail the property laws, taxation selection of a good builder, the Karnataka Apartment Ownership Act 1972. The Apartment Ownership Association Bye-laws etc., in a nutshell this book is a compendium for the purchase of flats/apartments, which deals with all the aspects concerning the Apartments/Flats in a comprehensive and simple manner.
This book is a guide and reference book, for the benefit of those engaged in buying and selling, the students of law and the people at large. This book is unique in as much as that it covers important and useful topics for information and guidance of investors. This book elaborately deals with the intricacies involved in buying a property and it takes the readers who may be a layman, step by step in various procedures involved in buying a property. The various steps involved like selection of location, selecting the builder, care to be taken in buying sites, scrutiny of title deeds, various legal provisions in case of property, giving notice before purchase, availing finance tax aspects etc. Once a person goes through this book, it gives him a clear picture about the purchasing the property.
The laws governing immovable property transactions are complex. There is a wide range of citations facing wider range of problems pertaining to property transactions. The doubts of each and every person are often unique and different and they expect an advocate to give competent advice and guidance to the clients. They don't need an elaborate legal commentary which often confuses them. This book is aimed at making the things simpler for the common man. It serves as a useful guide for those who have doubt about a particular problem and they can find answers to their doubts. This is in question and answers form and presents the property laws in simple understandable language, while dealing with the general areas of interest for the lay person.
This book covers the various aspects or registration and steps involved in registration. It gives useful information to the readers by dealing with various Acts connected with Registration of all kinds of document and specifically deals elaborately important provisions of Laws and Karnataka Stamp Act, Karnataka Registration Rules, Karnataka Municipality Act, Karnataka Municipal Corporation Act, Karnataka Panchayath Raj and also the jurisdiction of various Sub Registrar Offices. This book is a ready reckoner for not only the general public, but also for advocates, developers, Promoters property consultants, document writers and real estate agents who benefit immensely from this.
Shri Selvakumar is the editor of Real Estate Reporter, a comprehensive monthly magazine publishing the topics of public interest concerning the property developments in Bangalore and also in the Country for over a decade uninterruptedly. It has been found to be useful by the General Public, Developers, Housing Finance Institutions, Advocates, Real Estate Agents, Property Consultants, Architects and Civil Engineers, for updating their knowledge in the property matters.