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| FAQs |
| Q. What is Carpet Area, Built-up/Plinth Area and Super Built-up Area? |
| Carpet Area: |
| This is the area of the apartment / building which does not include the area covered by the walls. |
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| Built-up/plinth Area: |
| The carpet area plus the area of the walls. |
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| Super Built up Area: |
| Super Built up Area: This includes the built up area along with the area under common spaces such as the lobby, lifts, stairs, etc. |
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| Q. Does the agreement for sale have to be registered? |
| The agreement for sale between the builder and purchaser has to be registered as required by the law of the land. One must register within four months from the date of execution of the Agreement at the office of the Sub-Registrar appointed by the State Government, under the relevant Registration act. |
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| Q. Who pays the stamp duty during a property transaction? |
| Generally, the buyer pays the Stamp duty unless agreed otherwise. Also the Stamp paper is generally purchased in the name of the executor to the agreement. |
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| Q. What is Undivided Share (UDS)? |
| Every apartment buyer is entitled to a share of the land area in which the apartment is being constructed. But this cannot be physically divided. So the builder gives an undivided share of the land which is conveyed entirely and proportionately to the buyers. So, when you think of buying a new home, ensure that your share is proportionate and the sum of all the shares constitutes 100% of the land area. |
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| Q. What rights do I have to the apartment terrace? |
| Title to the terrace area in an apartment complex must be unambiguous to the buyers. This not only ensures that the buyers get adequate freedom to use the terrace area but also safeguards it against unauthorized construction and misuse. When you buy a home, act in due diligence and ensure that you get your terrace rights clearly on paper. |
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| Q. What is meant by Soil Test and Water test? |
| A soil test analyses the nature of the soil and helps design a safe structure. Similarly, a water test certifies the quality of water in the water table and its suitability for use in construction. It also indicates whether the water is potable and suited for consumption. |
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| Q. Does the builder allow me to change the agreement clauses based on my legal advisor’s opinion? |
| An apartment complex is a group of homes. Therefore it is only natural that all the owners should enjoy equal rights and privileges. Individual contracts with the buyers lead to some individuals enjoying more privileges than the others, which may cause unnecessary frictions among co-occupants. It is therefore imperative that any contract between the builder and buyers should be same for everyone. No individual should be specially vested with exclusive rights or preference. Moreover, exclusive contracts are not legally binding and are void before the law. How ever, the builder should co-operate and clarify the legal clarifications sought by your adviser. |
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