I just have a vague imagination and I am v.sorry If it hurts you. lets consider there is an appt built on 10000 sq ft area which consists of 20 flats and after lets say 20 years if it collapses....oops.... for whom does the land belong... does it belongs to the guy who sold the land to the developer?
I know this topic does not fit into this discussion :-)
RE:Just to educate myself
by raj on Dec 18, 2007 12:43 PM Permalink
House Insurance will cover the damage. If you don't have house insurance coverage then go and take it fast.
RE:Just to educate myself
by Shankar Anand on Dec 18, 2007 11:52 AM Permalink
Each apartment owner gets a (very)small share of the land. It will be documented as "undivided" land share in the document he got for the apartment.
RE:Just to educate myself
by babu on Dec 18, 2007 11:43 AM Permalink
It covers under collective sale LAW. Simple logic land belongs to all 20 flats owners and after selling the land the cost is divided equally to each flat owner.
