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Can You Own Two Houses in a Society? Htestates LAW BOOK Sunil Tyagi HT FILE PHOTO

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Can You Own Two Houses in a Society? Htestates LAW BOOK Sunil Tyagi HT FILE PHOTO HINDUSTAN TIMES, NEW DELHI, SATURDAY DECEMBER 03, 2011 htestates07 Last week: Next week: Pick of the week PROJECT: The Aranya Noida and Ghaziabad RENTAL AND CAPITAL VALUES Gurgaon and Dwarka Where: Sector 119, Noida, UP This week: NORTH AND SOUTH DELHI What: The project has approximately 80% open area along with Type Rental Capital Type Rental Capital Area (BHK) (in R/sq ft) (in R/sq ft) Area (BHK) (in R/sq ft) (in R/sq ft) residential apartments and villas NORTH DELHI: Luxury SOUTH DELHI: Luxury Ashok Vihar 2-320-25 23000-27500 Anand Lok 2-325-39 29000-39000 USP: Every tower will have a Civil Lines 2-316-20 14300-20300 Anand Niketan 2-327-37 30000-36000 separate reception and a Delhi University 2-315-19 12200-18500 Asiad Village2-3 23-35 22000-31000 double-height lobby. The Gujranwala Town2-3 17-21 15000-23200 CR Park 2-317-25 15000-20000 project will have open areas Hudson Lane 2-318-23 17200-23300 Chanakyapuri2-3 14-2412000-24000 like club, chip-and-putt golf Kamla Nagar 2-314-16 12000-17500 Defence Colony2-3 27-4029000-39000 course, children’s playground, tennis, squash and indoor Model Town2-3 19-25 20000-28500 East of Kailash 2-319-25 16000-29500 badminton courts and a Paschim Vihar2-3 17-22 19000-27000 Friends Colony2-3 22-36 22000-27000 green belt Pitampura2-3 17-22 15000-25000 Geetanjali Enclave 2-317-25 16000-21500 Prashant Vihar 2-316-20 18000-24000 Greater Kailash 2-323-31 21000-28000 Cost: R42.5 lakh onward Punjabi Bagh 2-311-14 9000-12000 Green Park 2-318-33 19500-28000 Saraswati Vihar 2-317-31 25000-39000 Gulmohar Park 2-319-32 18000-23000 Projects completed by this developer: NORTH DELHI: Mid-segment Hauz Khas2-3 17-31 18000-25500 Projects by the Unnati Fortune Group Adarsh Nagar 2-38-9 5500-7500 Hemkunt Colony2-3 17-29 20000-26000 are The Hotmart and Astoria Boulevard Azadpur 2-38-105500-7000 Jangpura 2-319-30 17000-21000 Derawal Nagar 2-38-117200-9600 Kailash Colony2-3 16-25 15000-25500 Dr Mukherjee Nagar 2-39-108000-9500 Kailash Hills 2-315-30 14000-22000 Kalyan Vihar2-3 9-10 6000-8500 Broker byte Learning with Estates | Realty jargon made simple Maharani Bagh 2-322-37 24000-35800 Kashmere Gate 2-39-117000-9000 SOUTH DELHI: Mid-segment Kohat Enclave 2-38-116000-8000 GROSS FLOOR AREA GROSS SALES HVAC Alaknanda 2-312-18 8000-10800 The total of all covered areas The total sales, for a specific The acronym for heating, Lawrence Road 2-36-8 3500-6500 Arjun Nagar 2-313-19 6000-9800 including common areas such as period, before adjusting ventilating and air conditioning Madhuban Chowk 2-38-105000-7000 amenities and parking. The area discounts or returns Aurobindo 2-315-18 5000-7000 Mahendru Enclave 2-36-8 3300-5500 to be leased or sold is usually HARD OPTION Badarpur 2-39-153500-4600 GROUND RENT Option on a certain area of Malka Ganj 2-38-107300-9000 quoted on the basis of gross Dhaula Kuan 2-38-135400-6700 floor area (GFA), which includes The rent paid by a lessee for the premises (that is, 100 sq ft or North Campus 2-38-127500-9500 use of land 1000 sq ft or 100,000 sq ft) Gautam Nagar 2-310-15 5000-7600 not only the gross area of the Pushpanjali Enclave 2-39-117000-9500 leased floor but also portions of offered by the lessor to the les- GUARANTOR IGNOU Road 2-312-15 3500-7800 common areas. The ratio of “net see over a fixed duration of time Rana Pratap Bagh 2-37-106000-8300 A person who makes or gives a Jasola 2-310-16 8000-10500 lettable area” to GFA varies, nat- wherein the lessor will not Rani Bagh 2-38-107000-8500 guarantee Kalkaji 2-39-177600-13000 urally depending on the efficien- market the area to another Rohini 2-39-129000-11500 tenant / party for that specific cy of the superstructure and the GUARANTY Lajpat Nagar2-3 10-20 9500-12500 time frame. A hard option can Rohini Sector 11 2-37-106000-9000 area of the basement levels An agreement by which one per- Malviya Nagar 2-39-158000-12000 either be free of cost or could Rohini Sector 142-3 9-11 7000-9000 included in GFA calculations son assumes the responsibility of have a holding cost of a bare Masjid Moth 2-310-14 6500-8500 assuring payment or fulfilment of Rohini Sector 22 2-38-126600-9600 GROSS LEASABLE minimum value Munirka 2-319-17 7000-10500 Key factors for investing another's debts or obligations Rohini Sector 5 2-39-116000-9000 AREA (GLA) Source: Cushman & Wakefield’s SOUTH DELHI: Budget Gross leasable area is the total Roop Nagar 2-39-118300-1000 in Gurgaon are afford- HANDOVER India Real Estate Dictionary. All area that is used for rental space Sukhdev Vihar2-3 9-13 7500-15000 Aya Nagar 2-37-9 3000-4000 CONDITION definitions included in this list are able real estate as com- in a building Vijay Nagar 2-39-127000-1000 Begampur 2-36-8 2500-4200 Condition of the office unit/ for general use only and should premises upon turnover to the NORTH DELHI: Budget Chattarpur 2-36-8 2400-3700 pared to prime Delhi GROSS OPERATING not be used for any legal lessee purposes Bawana 2-35-8 1700-3500 Govindpuri 2-35-9 2700-3500 PROFIT Bahadurgarh 2-37-9 2500-3500 Khanpur2-3 8-11 2200-3100 areas, good connectivi- The difference between revenue and the cost of making a product Bhilswa2-3 6-72500-3500 Khirki Extension 2-38-123500-4200 ty to the capital, high or providing a service, before Burari 2-36-8 2000-3500 Lado Sarai 2-38-102500-4000 deducting overheads, payroll, GT Karnal Road 2-36-8 2000-3000 Mahipalpur2-3 7-13 3500-5500 economic growth, taxation and interest payments Mehrauli 2-36-113400-4300 Jahangir Puri2-3 7-10 3500-5000 large, well-defined SEZs GROSS RENT Kundli 2-35-7 1900-3000 Neb Sarai 2-37-102800-3600 Refers to the total rentals Narela 2-37-9 2500-3500 Okhla 2-39-113200-3800 and a better law and payable by tenants. This is Pratap Nagar 2-36-9 2500-3000 Palam Colony2-3 7-9 3200-4800 order situation than in equivalent to the sum of base Rama Nagar 2-37-9 2900-3500 Savitri Nagar 2-38-9 4000-4800 rent plus charges for utility services such as electricity, gas, Sant Nagar 2-37-9 3000-4500 Tughlaqabad 2-38-14 3000-5700 other suburbs water and sewer and trash Timarpur 2-38-104000-6500 Vishwakarma Colony2-3 7-12 2800-4000 —Deepak Singhal, director, removal Since the above information is gathered from various sources, HT Estates does not take responsibility for any omissions or errors. DS Realty Readers are requested to do a thorough check while searching for properties. The list is not exhaustive SOURCE: MAKAAN.COM THINKSTOCK cut out and keep Can you own two houses in a society? htestates LAW BOOK Sunil Tyagi HT FILE PHOTO Co-op society rules do not allow I am a widow with two daugh- Industries Private Limited ters. The house where I live was vs State of Haryana, GPA a person to be a member of acquired by my deceased hus- sale of immovable proper- band. His will says that after his ty does not amount to more than one society in Delhi demise, I will inherit the proper- valid ‘transfer’ or ‘sale’ ty. However, the will is unregis- and does not confer any tered. My mother-in-law wants title of ownership in Vivek Kohli to make a will of this house in favour of the buyer, irre- htestates favour of her daughter. How do I spective of whether it is a s one person allowed to own prevent her from doing so? flat, plot or building etc more than one residential LEGAL REMEDIES —Lata P and irrespective of where Iproperty in a co-operative If you have inherited the the property is situated. group housing society ing society having similar entire house under your However, a property may (CGHS)? The answer to this objectives. Further, in the husband’s will, any will be purchased on sale deed is to be found in the State Co- case of membership of a co- made by your mother-in- that may be executed by a operative Societies Act and operative housing society, a law regarding inheritance person holding a valid and Rules, which govern these person will not be eligible for of this property shall be legal power of attorney. organisations in the respec- admission as a member if invalid and void. tive state. For Delhi, provi- he/she already owns a house I will soon enter into an sions concerning CGHS are or a plot of land for construc- My brother is the original allot- agreement for the exchange of covered under Delhi Co- tion of a residence in any of tee of a flat in a co-operative my property with another piece Operative Societies Act, 2003 the approved or unapproved housing society in Delhi. He is of property. Are the stamp duty and Delhi Co-operative colonies or other localities in now planning to purchase implications for exchange of Societies Rules, 2007.
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