Jasmine Terrace Multistorey Apartments Area Range 940 - 1275, Location Yelahanka, Bangalore 2BHK Apartments and 3BHK Apartments.
Description:
Finally, a home that makes you feel absolutely comfortable and secure. Welcome to Radiant Jasmine Terrace at Yelahanka, beautiful 196 apartments. Experience the snuggle of creature comforts – a swimming pool, a gym, a children’s play area, an indoor shuttle court and indoor games facilities will make you forget the pressures of your office.
Feel delighted like a child. The ambiance and landscaped gardens will evoke a sense of awe. The quality of construction is as reassuring as mother’s love, so also the fixtures and specifications.
Yes! you can’t expect another home to replace Jasmine Terrace.
Feel delighted like a child. The ambiance and landscaped gardens will evoke a sense of awe. The quality of construction is as reassuring as mother’s love, so also the fixtures and specifications.
Yes! you can’t expect another home to replace Jasmine Terrace.
Amenities:
Swimming Pool
Children’s Play Area
Multi-Purpose Hall
Gym
Indoor Games room
Steam/ Sauna/ Jacuzzi
Indoor Shuttle court
Children’s Play Area
Multi-Purpose Hall
Gym
Indoor Games room
Steam/ Sauna/ Jacuzzi
Indoor Shuttle court
Co-operative Societies Acts of many states provide for
formation of Housing Co- operative housing societies. Karnataka Co-operative Societies Act also permit the
formation of Co-operative housing societies. These societies acquire the land;
construct the flats, which are allotted to its members. The society allots
shares to its members. Such societies need to be registered with registrar of
Co-operative societies.
Members are of different category, the member, associate
member, and nominal member. Individuals, Partnership firm, registered company,
registered society local authority, State government, central government,
public trust, any other corporate body registered under the relevant act, may
become member of the co-operative housing society, subject to the rules governing
the admission.
A minor can also become a member of Housing Society through
his guardian; Certain states have put restriction of membership of family
trust, Hindu undivided family.
There are different types of Co-operative housing societies.
1. A society purchases the land or takes on lease divide
into several plots and allots to its members. The members construct houses, on
such allotted lands. In such cases, the land is owned by the societies and the
houses on plots to members. Such societies are caller Tenant ownership type
housing societies.
2. Societies acquire land by sale or on lease and construct
the buildings; flats are allotted to the members. In such cases, both the land
and building are owned by the societies. These are called tenant Co-Partnership
Co-operative housing societies.
3. Societies are also formed by the persons who purchase theflats from the builders, under agreement as per flats ownership acts of the
respective states. In this case also, both the land and building belong to the
society after the execution of conveyance by the builder in favour of the
society. Such societies are called flat owners Co-operative housing society.
Flat owners co-operative societies issues shares to its
members by which the members gets the right to live, reside and enjoy the flat.
Flat owners Co-operative society societies are of more
common. These societies are very popular in Maharastra, Gujarat, and West
Bengal and not so common in Kamataka.
Flat owners Co-operative societies issues shares to its
members by which the members gets to right to live, reside and enjoy the flat.
It is to be remembered that the rights and interest of the member in the flat
is limited only to reside and enjoy. Member can transfer only such right. He is
not the absolute owner of the flat.
On sale of the flat, society transfers the shares to the
names of the purchaser, on purchaser complying with the formalities. After the
purchaser is admitted, the purchaser becomes a member of the society and
acquires right to reside and enjoy, the flat.
4. In case of death of a member the society transfers the
shares to the name of the nominee;
In the absence of any nomination, the society may transfer
the shares to anyone of legal heirs on consent given by other legal heirs. In
case of any dispute, the legal heirs may have to obtain letter of
administration from a competent court.
The flats are to be required to be occupied by the owners.
In case the flats are let out, the members have to pay non- occupancy charges
to the society.
In case of transfer of share to the others, the member has
to give a notice to the society along with the consent of the proposed
purchaser. The member may also obtain no-objective certificate from the society
for transfer of share.
The managing committee on considering the notice of
transfer will call for the following documents:
Application of the transfer of shares along with share
certificate.
Membership application for the purpose of transfer
Resignation letter from the original member.
Prescribed transfer fee, membership fee, price of the shares
premium amount, copy of the stamp duty paid agreement, declaration by both
transferor/transferee under urban land (ceiling and regulation) act 1976, if
applicable; various reasons for transfer declaration to use the flat for the
purpose which it is brought, under taking to discharge all liabilities to the
society, no objection letter from the financing agency, if the seller has
availed loan, No objection letter from the district collector, if the land is
allotted to the society by the government, No objection letters from any other
statutory agency, which ha given land to the society. On receipt of all these
requirements, the application of transfer will be placed before managing
committee. However, only general body has powers to admit a new member, The affairs of the Housing Society are managed by a managing
committee, elected by the member from out of the members.
Generally, the builders / owners sell the flats to the
purchasers, but will not convey the land to the societies formed by the
purchasers. In such cases the title of the purchasers is not perfect, since the
land stands in the name of the builder owners.
In such cases the owner will be entitled to further FSI if
permitted. Many states provide in their statutes that the builder / owner should
take steps for registration the Housing Co-Operative society and thereafter
transfer the land to the society within a time fram. As per the sections 10, II
of the Kamataka Flats Ownership act 1972 and Kamataka Flat Ownership rules
1975, Rule No.lO, 11, the promoter builder shall submit an application for
registration of the society within four months from the date of which minimum
number of persons require to form a society have taken flats - Thereafter the
promoter shall convey the land to the society within four months from the date
of registration of society.
5. Another interesting aspect is the charge created on
individual flats/ apartments by the members. The right of the member is
limited, to reside and enjoy the flat, but they do not have any ownership
right. So the members can mortgage their right to reside, hence such flats
cannot be alienated, since the ownership rests with the Housing Co-Operative
Society. In case of sale, only the right to reside in the flat is transferred
to the purchaser, he will not acquire absolute ownership. So is the case, where
the flats are mortgaged to the financial institutions by members. No objection
certificate from the Co- Operative society is essential to mortgage the flat.
Generally, the builders/owners sell the flats to the
purchasers, but will not convey the land, in such cases the title is not
perfect.
In case of the transfer of flats by transfer of shares, the
Co-Operative societies will not register the flats in individual names, and the
entire property stands in the name of the Co-Operative. Societies; the property
is also assessed for tax as a single entry.
Karnataka government is of the view, that individual flats
should be registered in individual names by regular conveyance deed duly
registered and tax assessment should be done flat wise. Tracing the title of
the flat requires verification of the society records, its byelaws and share
certificates.
Conveyance: Essential for Co-operatives societies The purchasers must not neglect to
acquire the title of the property or flat he/she purchasers on a purchase of
the flat by acquiring share certificate, the purchaser gets only the right to
occupy which is not title to the property. It is observed that he builders
themselves do not acquire ownership of land from the landowners. They enter
into development agreement and GPA with the landowners to develop and sell the
flats, which is not a good practice. But some builders acquire ownership from
the landowners them start construction which is in a way easier to convey title
to the purchaser i.e. from the builders to the purchaser.
Housing societies to witness freedom
The Mumbai scenario of purchasing and acquiring the flat by
share certificate is slightly different. Nearly 60,000 flat owners are having
only share certificates. Maharastra Govt. has made certain provisions easy for
them.
By approving the self-reliant legislation by the cabinet,
co-operative societies have been made self reliant, so that there is no dual
control on them. Self-reliant legislature is on the pattern of 'Atma-Nirbhar'
legislation successfully implemented by Madhya Pradesh. Under the new legislation
the co-operative society can opt to be administered or continue under the
existing act. If they opt the self-reliant or 'Atrna-Nirbhar' law,
responsibility of the co-operative department will be only to register such
societies, while the rest of the affairs will be managed by the society.
'Atma-Nirbhar' law provides for setting up machinery for redressal of
grievances. The societies or its members need not approach the co-operative
department.
Bangalore properties like Apartments / Villas / Plots / Independent Houses ....
Real Estate Properties are available in Bangalore City.......
Purchase of apartments / Flat in bangalore
Flat purchase in bangalore
purchase of plot at electronic city
purchase of villas at sarjapur road
3bhk Villas for sale in bangalore
site available at Anekal road
purchase of site at aproved layout
Flat purchase in bangalore
purchase of plot at electronic city
purchase of villas at sarjapur road
3bhk Villas for sale in bangalore
site available at Anekal road
purchase of site at aproved layout
No comments:
Post a Comment
Your Comment on this box