Is it legal to buy more than one housing society?

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learnreality
Posts: 7
Joined: August 29th, 2012, 11:43 pm

Is it legal to buy more than one housing society?

Post by learnreality »

Due to less funds with me and lack of secuirty of property(individual buying), i am plan to invest more than one housing society.
Is it fine to buy plot in more than one housing society?

Kindly need your opinion on this. Thanks in Advance
Jkulkarni
Posts: 33
Joined: April 29th, 2012, 10:28 pm

Re: Is it legal to buy more than one housing society?

Post by Jkulkarni »

learnreality: are you becoming a member of the housing society to buy the property or is it being offered in the developer quota - you or your family cannot hold plots in two housing society layouts as a member.
msn1270
Posts: 1518
Joined: June 17th, 2009, 2:21 pm

Re: Is it legal to buy more than one housing society?

Post by msn1270 »

Society sites also follows the norms set by Government and as they've lot of rebates from the government.
Legally you are not supposed to buy more than one society site. Also you are not eligible to get BDA/KHB Sites.
This applies through out karnataka.

In reality no society/BDA/KHB is making thorough scrutiny of these background information for applicants. Simply
they ask for a Rotary Affidavit from the Applicants, declaring they don't have any other site/House.

At any point of time, if someone complains with proof, legally you will be at risk.
Last edited by msn1270 on January 1st, 2013, 2:11 pm, edited 1 time in total.
sbhat
Posts: 52
Joined: December 15th, 2010, 9:54 am

Re: Is it legal to buy more than one housing society?

Post by sbhat »

is it ok if i buy one society site in bangalore one in other city like mysore,tumkur.
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