One of the frequent problems that cause misunderstandings and arguments between builders and housing society members is parking space. The buyer or owner is unaware of many legal subtleties, even if regulatory agencies enforce particular parking allocation laws. Coming to your query, can flat owner sell parking space? Usually, the owner can\'t sell the parking space, as you know it is the common space of an apartment.
Can I Sell My Parking Space?
No, since an allocated parking space is a shared amenity in an apartment complex under the Real Estate (Regulation and Development) Act, 2016 (RERA), a flat owner typically cannot sell it independently. It involves legal and regulatory considerations.- If the parking space is explicitly assigned to you in the sale agreement or deed, then you can sell it.
- You must confirm ownership or your exclusive rights over the parking space. For that, you can check the details in the original sale deed, agreement to sell, or an allotment letter from the builder.
- If your parking space is part of common property, the sale might require approval from the housing society or other co-owners.
- Municipal rules and building bylaws often dictate whether parking spaces can be sold separately. Builders or owners cannot sell open spaces that are designated for parking under planning approvals.
- You must get written approval from the housing society if your parking space is in a shared or gated complex. Society rules may restrict or impose conditions on transferring parking rights.
- Don't forget to register the sale deed at the local sub-registrar’s office.
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According to the Ministry of Housing and Urban Poverty Alleviation, Government of India, open parking spaces cannot be sold to allottees as they are considered common areas
. The Maharashtra Real Estate Regulatory Authority (MahaRERA) has also clarified that promoters are not entitled to sell or allot open parking areas for monetary consideration.
If you want to sell your open parking space, you can do so by transferring it to another person through a gift deed. However, the transfer of ownership must be done in accordance with the laws and regulations governing property transactions in your state.
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What is the process for the sale of open parking space?
Prakash Rao
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1 Year
2023-10-03T09:07:17+00:00 2023-10-03T12:00:38+00:00Comment
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