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Should I avail housing society or condominium for redevelopment?- Property Hotline
Posted
August 10, 2016
Views
432
Likes
3
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0.69%
August 10, 2016
432
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6:52Now PlayingExpert: Vinay Singh, Legal & Tax Expert.
Question: As we are going in for redevelopment we want to know whether we should go for housing society or condominium. Can we reject condominium outright?
Answer: Usually, the standard builder agreement will specify that the he will set up either a society or Condominium. These are different from each other, chiefly that the society is the owner of the society and you are a shareholder with a right to occupy the unit you have acquired. In condominium, you are the owner of the unit with an undivided share in the 3 common areas and amenities.
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