Ownership of apartment subject to conditions
– (1) Where any allotment, sale or otherwise transfer of any apartment
has been made, whether before or after the commencement of this
Act, in pursuance of any promise of payment, or part payment, of
the consideration thereof, the allottee or transferee, as the case may
be, shall not become entitled to the ownership and possession of
that apartment or to a percentage of undivided interest in the
common areas and facilities appurtenant to such apartment until
full payment has been made of the consideration thereof along with any amount due in respect of common expenses and payment of
State Government and municipal taxes incurred by the promoter
before the formation of the Association together with interest, if
any due thereon, and where any such allottee or transferee has been
inducted into the possession of such apartment or any part thereof
in pursuance of such allotment, sale or transfer, he shall, until the
full payment of the consideration, and the dues, taxes and interest
as aforesaid, has been made, continue to remain in possession
thereof on the same terms and conditions on which he was so
inducted into possession of such apartment or part thereof.
(2) In a case where, after full payment under sub-section
(1) has been made, any expenses have been incurred by the promoter for providing any common facility in terms of any subsequent requirement of the State Government or a local
authority, such proportion of the expenses incurred by the
promoter shall be payable by the apartment owner, allottee or transferee to the promoter as the built-up area of his apartment bears to the built-up area of all the apartments in the building.
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