On Fri, Jun 18, 2010 at 12:18 PM, Biju Chacko <[email protected]> wrote:
> - An undivided share of the land on which it was built. This is > usually (but needn't be) an equal share. So you if you are one of 10 > apartment owners, you are entitled to 10% of any future sale but you > can't point at any specific spot and say it's yours. As a co-owner you > have a share in any future construction but you don't automatically > have a development right[1] unless BBMP gives you some as compensation > for demolishing the now unsafe building. > Thanks. But then, if you look at the 20 storey buildings coming up around Bangalore with 80-100 apartments per building, and with apartments going for around 60 lakhs, your 100th fraction share of the land has significantly lower value than the apartment. Surely there's got to be another asset there? How did the builders get to construct a 20 floor apartment in a city that sets the norm at 4 floors?
