• Regarding UNdivided Share in an Apartment & Relinquishment Deed to BBmp

Regarding Undivided Share & Relinquishment by Builder
Asked 6 years ago in Property Law
Religion: Hindu

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12 Answers

Either co owner executes Relinquishment deed in favor of another co owner to transfer his/her share to him/her.

Yogendra Singh Rajawat
Advocate, Jaipur
23084 Answers
31 Consultations

1. UDS is calculated as follows:-

Individual Apartment's Super Built Up Area ÷Sum of all Apartments' Super Built Up Area X Total land area.

2.  UDS is the important aspect one should bear in mind while buying an Apartment.

3.  Release or Relinquishment Deed is executed by the Releasor in favour of the Releasee , relinquishing Releasor's share in the property.

Shashidhar S. Sastry
Advocate, Bangalore
5624 Answers
339 Consultations

Kindly be specific with your questions it's incomplete question.

 

Whose undivided share and who want relinquish deed. 

 

Please raise question in detail to answer you properly.

Ganesh Kadam
Advocate, Pune
13008 Answers
267 Consultations

Kindly specify the question sir

Prashant Nayak
Advocate, Mumbai
34580 Answers
249 Consultations

state detailed facts of your case to enable us to advice you 

Ajay Sethi
Advocate, Mumbai
99866 Answers
8148 Consultations

pls post your query in details. 

Mohammed Mujeeb
Advocate, Hyderabad
19340 Answers
32 Consultations

Dear Sir,

Yes you can get a share in apartment by way of relinquishment deed.

Kishan Dutt Kalaskar
Advocate, Bangalore
6230 Answers
499 Consultations

Dear Sir,

The following information may kindly be read:

The sum of all the undivided shares must be equal to the size of the land in which the apartments are constructed. The more UDS one buys, the better value for money in future. In case of co-operative societies, the UDs will be in the name of the society as the flat owners are the share holders of the society.

 

Importance of undivided share in Indian flat system

In India, a majority of home buyers prefer living in apartments as it provides all the contemporary amenities, maintenance, security etc., along with quality housing. Even affluent senior citizens sell their bungalows and move to posh retirement apartments for the comfort and security it offers.

While buying an apartment, Indian home buyers concentrate on flat area but clueless about the actual land ownership - Undivided share of land. The property appreciation depends on the land value (UDS) and not the concrete building. It is important to understand and ensure the UDS of the individual flat before buying it. In India, a majority of home buyers prefer living in apartments as it provides all the contemporary amenities, maintenance, security etc., along with quality housing. Even affluent senior citizens sell their bungalows and move to posh retirement apartments for the comfort and security it offers. Before buying, home buyers usually ensure the builder profile, project layouts, location and connectivity but often overlook the undivided share offered. While buying an apartment in a multistory residential complex, we carefully analyses the carpet area, built up area and super built up area but the ownership doesn’t depend on the flat area but the undivided land share. In a flat system, it is necessary to check the undivided share (UDS) which will determine the value of the property. What is UDS? An Undivided share is a share of land allotted to the flat buyer while purchasing a property and it is registered in the name of the owner. When a home buyer purchases an apartment, he/she is entitled to 2 things: the constructed building and the proportionate share of land, where the whole building is constructed. The price appreciation of the property is the actual appreciation of the land and not the building, so the property price depends on the undivided share. Why is it important? Have you ever thought what will happen to your apartment in case of natural disaster like an earthquake, building collapse or if government wants to acquire the property for a public project? Even if the apartment society wants to redevelop the property after decades, the building will be demolished and only the undivided share of land maters. It is crucial to understand your undivided share in a multi-storey residential project. The sum of all the undivided shares must be equal to the size of the land in which the apartments are constructed. The more UDS one buys, the better value for money in future. In case of co-operative societies, the UDs will be in the name of the society as the flat owners are the share holders of the society. Otherwise, the flat owners should check their share of UDS in the sales agreement. How to calculate UDS? The UDS is based on the percentage of the super built up area of the apartment to the total super built-up area of all the flats. For instance, if 4 equally sized apartments of 1000 sq ft were built on one ground of land which measures 2400 sq ft, the UDS will be calculated as below: UDS = Super built-up area of individual flat / Sum of all flats’ built-up area X Total land area UDS = 1000 X 2400 / 4000 UDS of individual flat = 800 sq ft. Check before Registration To avoid fraudulent deals and to be cautious, one can check the undivided share mentioned in the agreement before registration. Some builders will be reluctant to show the agreement copy; instead they share some other agreement copy during site visits. It is important to know your undivided share of land before hand and verify the same with the actual sales agreement before registration. You can go an hour before and confirm the details, if required get legal help from advocates. This way, home buyers can be sure of receiving their entitled UDS while purchasing their dream home.

 

Relinquishment deeds are legal documents by which a person can give up on his or her legal rights over a property to someone else with their consent. On the other hand, a deed of release, also known as a deed of reconveyance is a legal document used to renounce one's claims against a specified property

Netravathi Kalaskar
Advocate, Bengaluru
4951 Answers
27 Consultations

Sir kindly post your query here so that we can reply same in the detail. 

Shubham Jhajharia
Advocate, Ahmedabad
25513 Answers
179 Consultations

What is your question regarding undivided share and relinquishment deed by builder.???

 

Mohit Kapoor
Advocate, Rohtak
10686 Answers
7 Consultations

UDS or Undivided Share of Land is a part of the plot given to the owner of the flat in an apartment complex on which the entire structure is built. This share of land has no defined boundaries and each and every flat built on that particular plot will have associated UDS.

What do you want to clarify by writing relinquishment by builder?

A builder do not have to relinquish anything in this.

 

T Kalaiselvan
Advocate, Vellore
90068 Answers
2500 Consultations

  1. As per the information mentioned in the present query, doesn’t make it more clear as to what exactly you wish to know, but yes gives an idea that there is an undivided share which wish to be relinquished in the favour of someone.
  2. Yes, the person can relinquish its share of the property is the self acquired property.
  3. But, if the property is of the ancestral nature then there should be first family settlement deed or court partition decree, only then the person can release its share in favour of someone ( on paper settlement or partition on decree is sufficient, physical partition need not to be there for executing the release/ relinquishment deed.

Sanjay Baniwal
Advocate, South Delhi
5477 Answers
13 Consultations

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