Language Selection

Get healthy now with MedBeds!
Click here to book your session

Protect your whole family with Orgo-Life® Quantum MedBed Energy Technology® devices.

Advertising by Adpathway

         

 Advertising by Adpathway

Can builders sell parking space to homebuyers seprately? What RERA actually allows

1 day ago 2

PROTECT YOURSELF with Orgo-Life® QUANTUM TECHNOLOGY

Orgo-Life the new way to the future

  Advertising by Adpathway

Can builders sell parking space to homebuyers seprately? What RERA actually allows

Parking spaces are often among the most contentious aspects of home ownership, with disputes arising over whether builders can sell them separately and what rights buyers actually have.To bring clarity, the Real Estate (Regulation and Development) Act, 2016, identifies parking spaces in 2 distinct forms: open parking areas, and garages.Section 2(n)(iii) identifies open parking spaces as common areas, alongside basements, terraces, parks, and play areas. Since they belong to the undivided common property of the entire project, developers are not permitted to sell or allocate open parking spaces as private property.Section 2(y) defines a ‘garage’ as a place within a project that has a roof and walls on three sides for parking any vehicle. It does not include an unenclosed or uncovered parking space, such as open parking areas and hence, can be legally sold separately to the buyers.However, RERA requires the promoters to officially declare the exact number and size of these spaces when registering the project. Also, the number, type and size, as well as the place where parking is booked or allotted, should be mentioned in the allotment letter.

The parking layout plan as approved by the planning authority, should be annexed to the allotment letter or agreement for sale.Here, 'size' means length x breadth for open parking areas for each vehicle to be parked, and length x breadth x vertical clearance for garages, covered parking spaces provided at basement, podium, stilts and mechanised parking arrangement for each vehicle to be parked.The RERA framework mandates transparency in the allocation of all parking facilities while safeguarding homebuyers and reducing disputes over parking rights.

Read Entire Article

         

        

Start the new Vibrations with a Medbed Franchise today!  

Protect your whole family with Quantum Orgo-Life® devices

  Advertising by Adpathway