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Author Topic: Land share rights  (Read 197 times)

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Offline ankurgoyal

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Land share rights
« on: June 22, 2016, 10:14:46 PM »
Dear all
I have a question

there is a house with 4 floors and a basement.. land share of basement is 10% and rest of floors is 90/4 = 22.5%. All floors are currently owned by owner and he plans to sell all except top floor with terrace and basement.
So the new floor owners of GF, FF and SF have 22.5% rights each. Cost of these floors alongwith corresponding land rights was 2 Cr each

What happens wen the owner constructs a new floor on terrace (if allowed by MCD).
Does the land rights of  owners of GF, FF and SF automatically reduce to 18% (90/5) or the initial owner has to purchase these rights from each of these floor owners

Also how is the cost of the land rights calculated (how to determine how much will the initial owner pay the other floors for purchasing 4.5% of rights from each) supposing land cost of total area is 10 Cr


 

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