Amendment status not verified — confirm the current text below against the official source.
The Developer/ Promoter and Owner to execute and get Registered document of transfer- (1) Where the Developer/ Promoter is not the owner of the land over which the Apartment(Flat) is to be built, the Developer/ Promoter and the Owner shall execute and register an agreement stating all the terms and conditions of the agreement >kj[k.M xtV ¼vlk/kkj.k½] o`gLifrokj 2 Qjojh] 2012 31 including the portion of the building and land to be shared by the Developer/ Promoter and the Owner. The agreement document shall also include that after the completion of construction of the building project the respective share owner i.e.; developer/ promoter and the land owner, shall be absolute owner of their respective shares and they will be entitle to sell/ transfer their shares separately. (2) The final sale/ lease of the Apartment(Flat) along with the Common areas and facilities shall be executed and registered by the Developer/ Promoter or the Owner, as the case may be, as per sub-section 5.1. in favour of the prospective Apartment (Flat) Owner.