Legal_Landscape

A commentary on law and current affairs

Tips for buyers of Condominium housing units

Before you contemplate buying a condominium housing unit, it is advisable to check from the Developer whether:

A – the building has been registered as a subdivided condominium property.

B – If its a residential condominium property, whether each housing unit is allocated one permanent car parking space ( UDA Regulations stipulate that flats / housing units of 75 – 200 sq.m. should be allocated 1 car parking space. Please refer http://www.uda.lk/reg/parking_requirements.htm for more information )

C – the building has adequate common areas for residents’ use, such as an office room for the Management Corporation, a common hall or meeting place for the residents and other common facilities as promised by the Developer in marketing brochures. It is relevant to mention here that the Developer cannot lease or assign the use of common areas to any third party without the specific consent of the condominium unit owners.

June 25, 2011 Posted by | Condominium properties Sri Lanka | Leave a comment