CHAPTER II- Ownership, Heritability and Transferability of Apartments, Section 5- Apartment to be heritable and transferable

  • Subject to the provisions of section 6, each apartment, along with the undivided interest in the common areas and facilities, shall be a heritable and transferable immovable property.
  • Transfer of apartments takes place through-
  • Sale
  • Mortgage
  • Lease
  • Gift
  • Exchange

Accordingly, an apartment owner may transfer his apartment and the percentage of undivided interest in the common areas and facilities through these means.
In cases where transfer of any apartment by any of the mea has been made by any group housing co-operative society in the favour of any of its members, the transferability of that apartment shall be regulated by the law applicable to such a group housing co-operative society.