Rights Entitled to an Apartment Buyer
Post by : favouritehomes
Buying an apartment in Trivandrum or anywhere else for that matter, entitles you to a set of rights and obligations. Unfortunately, many apartment buyers are unaware of their rights. This knowledge is crucial for maintaining a healthy relationship with the builder right from the time of booking till the handover of keys – and may even help sort out any disputes that arise after buying the apartment. Here is a look at some of the legal rights that an apartment owner is entitled to:
- When buying an apartment, the buyer not only pays for the carpet area of his/her apartment, the amenities and common areas, but also for a part of the land on which the building stands. This is known as the right to own an undivided share of land (UDS).
- Signed written agreements will hold legal value whenever there is a dispute in the purchase process. The buyer has the right to demand for a signed agreement with the builder which can also serve as proof of purchase in cases where the apartment is still in the construction stage. This written and signed agreement holds legal value and can be used if any disputes arise.
- The apartment buyer also has the right to a set of documents from the builder which include a letter of allotment, payment schedule according to construction, copies of all permits and NOCs, certificates and floor plans as given by the concerned authorities, tax receipts, etc.
- Apartment associations are part and parcel of every apartment complex and are meant for the owner’s welfare. There are by-laws for such associations were each apartment owner has the right to know full details of all members of the management committee as well as details of the expenditures and income of the society. All apartment owners have the right to participate in every decision making process regarding the building.
- As per law, maintenance and repairs to certain parts of the apartment do not have to be born by the apartment owner alone. It’s the builders responsibility to provide maintenance towards the apartment till the warranty period runs out.
Other existing rights include access to all common areas, amenities and utilities.