Hi,
I have book a flat in Bangalore in pre-launch. At the time of booking, the builder did not mention that the club ownership will be with a builder and not with owners association. Only after they gave the sale agreement its mentioned that it will be with the builder.
My question is that should the clubhouse belong to owners association or builder legally. Also note that they initially told we need to pay clubhouse charges and later in SA I learnt that the ownership of belongs to the builder and not the apartment owners.Please advise legally that the ownership of the open areas and clubhouse after the sale of an apartment will remain with builders ? or should it be transferred to apartment owners ?
I have not yet signed the Sale agreement, but they are sending the demand notice for the first installment, so if I do not pay it on time will the late payment charges be applicable without signing the SA, please ?
Regards
Padma
Asked 8 years ago in Property Law
Religion: Hindu
As I mentioned, I have just paid 20% of the amount to book an apartment. But I have not yet signed the Sale Agreement. They(builder) have sent an email saying that they will send demand notice for release of the first instalment. I am worried about few clauses in SA and I am in touch with the builder. But the builder is not addressing my queries and is taking a long time. In the Agreement, they have mentioned that if there is any delay in releasing the money to the builder the penalty is 18%. Since they have not clarified all my queries and I have also not signed the agreement, does the builder have the rights to charge the penalty? However, they had given an application form to be filled before we paid our 20% amount, in that application as terms and conditions it's mentioned the there will be the penalty for late payment. Will that be applicable ? Please clarify.
Asked 8 years ago