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Is it legal to buy more than one housing society?
Posted: November 15th, 2012, 2:37 pm
by learnreality
Due to less funds with me and lack of secuirty of property(individual buying), i am plan to invest more than one housing society.
Is it fine to buy plot in more than one housing society?
Kindly need your opinion on this. Thanks in Advance
Re: Is it legal to buy more than one housing society?
Posted: November 15th, 2012, 3:04 pm
by Jkulkarni
learnreality: are you becoming a member of the housing society to buy the property or is it being offered in the developer quota - you or your family cannot hold plots in two housing society layouts as a member.
Re: Is it legal to buy more than one housing society?
Posted: November 15th, 2012, 4:28 pm
by msn1270
Society sites also follows the norms set by Government and as they've lot of rebates from the government.
Legally you are not supposed to buy more than one society site. Also you are not eligible to get BDA/KHB Sites.
This applies through out karnataka.
In reality no society/BDA/KHB is making thorough scrutiny of these background information for applicants. Simply
they ask for a Rotary Affidavit from the Applicants, declaring they don't have any other site/House.
At any point of time, if someone complains with proof, legally you will be at risk.
Re: Is it legal to buy more than one housing society?
Posted: December 31st, 2012, 4:43 pm
by sbhat
is it ok if i buy one society site in bangalore one in other city like mysore,tumkur.