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.

Advertisements

June 25, 2011 - Posted by | Condominium properties Sri Lanka

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: