Supreme Court sets aside HC order on flat owners’ right on common areas. TO BE KEPT IN MIND WHILE VALUING THE RESIDENTIAL FLATS & UNDIVIDED SHARE OF LAND
Supreme Court sets aside HC order on flat owners Right on common areas
The Supreme Court has set aside a Punjab and Haryana High Court order, accepting the plea of flat owners of a residential society developed by DLF Ltd at Gurgaon, that they have an undivided interest in common areas and facilities including schools inside the housing complex.
The High Court had asked the competent authority to decide the objections of the owners of the Silver Oaks Apartments at Gurgaon to the declaration filed by DLF Ltd by which they were deprived of their rights.
We are of the view that the High Court has not properly appreciated or applied the various statutory provisions of the Regulation Act and the Rules framed thereunder, the terms of licenses issued, agreements executed between the colonizer and the DTCP vis-à-vis the various provisions of the Apartment Act, the statutory declaration made by the colonizer and the S Deeds executed between the parties, a bench of Justices KS Radhakrishnan and AK Sikri said.
Setting aside the HC verdict, the court said, We have clearly indicated that the ownership right over the land earmarked for schools, hospitals, community centers, and other community buildings referred to in …the Development Act vests on the colonizer (DLF).
The launch of new homes dropped by 12 percent to over 1.72 lakh units so far during this calendar 2013 in the eight major cities due to cautious approach by developers in view of the slowdown in demand, according to global property consultant Cushman & Wakefield.
The National Capital Region (NCR) saw a decline of 33 percent in new launches this year at 38,411 units compared with 57,098 flats in the year-ago period. Mumbai launches were up 6 percent and Kolkata 3 percent over last year.
