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PONDERING ON VITAL PDF Print E-mail
Written by Administrator   
Wednesday, 12 October 2011 09:41

PONDERING ON VITAL ASPECTS PRIOR TO PURCHASING CONDOMINIUM PROPERTY

As you may be aware both public and private sector institutions are involved in developing condominium property. Reputed companies generally develop very expensive

Condominium Property Units with luxurious facilities. However, it is imperative to ponder on the following vital aspects prior to purchasing condominium property.

The Condominium Management Authority as the pioneering pilot organization in this field wishes to highlight some vital aspects which need to be considered prior to making a decision to purchase a condominium property, in order to create an awareness among prospective purchasers, based on the experiences gained throughout its existence.

It should be kept in mind that it is not adequate to pay heed only to the interior of the apartment you wish to purchase. Since you will be sharing the common amenities of the condominium property with the other occupants, it is imperative to make it a point to ensure that the essential common amenities are available. If you are interested in purchasing a unit in a condominium property you have the right to examine the property development permit, the approved building plan and the certificate of confirmation issued by the relevant Local Government Authority. Such documents will reveal the details of the authorized number of floors and the number of units, of the said property. Several occupants have been received by the Condominium Management Authority from condominium property owners who had not been issued the Deed of the Property.

Subsequent to perusing such complaints the following facts were revealed.

  1. Number of floors exceeded the number of floors authorized by the relevant Local Government Authority.
  2. Parking space allocated to a specific number of vehicles restricted in order to build offices and shops for sale.
  3. Construction of buildings on roof terrace considered as common elements.
  4. Non availability of power and water supply connections to individual property units, compelling the occupants to rely on the temporary connections continuously.

It was also revealed that certain transactions of condominium property units had been made on Sales Agreements. As a result of such fraudulent transactions the owners of condominium property units have been deprived of obtaining the certificate of confirmation issued by the relevant Local Government Authority.

In such instances the Condominium Property units cannot be registered under the Land Registry, thus depriving the owners to obtain the Deed.

It is prohibited by Law to pawn, sell or transfer to children property purchased on Sales Agreements.

Thousands of property owners have been deceived by property developers through such fraudulent transactions. Those who have been deceived have made complaints to the Condominium Management Authority requesting for redress to obtain the legal ownership of the condominium property. In certain instances legal action has been taken against such fraudulent property developers for the failure to register the property in terms of Apartment Ownership (amendment) Act No. 39 of 2003.

In certain instances the Condominium Management Authority has intervened to demolish unauthorized constructions and taken necessary action to facilitate the property owners to obtain the Certificate of Confirmation from the relevant Local Government Authority.

Hence, prior to purchasing a unit in a Housing Scheme or entering into an Agreement to purchase a unit in a proposed Housing Scheme, ensure that you pay due attention to the above mentioned vital aspects.

If you are purchasing a unit in a completed Housing Scheme, you have the right to request from the property developers for the common elements and common amenities certificate issued by the Condominium Management Authority.

On the other hand you may request for details pertaining to the particular Housing Scheme from us. The Condominium Management Authority is always at your service.

 
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