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[Cites 0, Cited by 0] [Section 4] [Entire Act]

State of Punjab - Subsection

Section 4(2) in The Punjab Apartment Ownership Act, 1995

(2)Every person who becomes entitled to the exclusive ownership and possession of an apartment under sub-section (1) shall be entitled to such percentage of undivided interest in the common areas and facilities as may be specified in the conveyance deed of apartment and such percentage shall be the ratio of the built-up area of the apartment to the total built-up area of all the apartments of the building and in respect of the limited common areas and facilities reserved for the use of certain apartments to the exclusion of other apartments, such percentage shall be the ratio of the built-up area of the apartment to the total built-up area of those apartments for which the use is reservedExplanation. - The actual built-up area should be taken into account for the calculation of the percentage and any different area which may be stated in the agreement of sale between the promoter and the person taking the apartment, shall be ignored:Provided that if all or any of the apartments are put to any non- residential use, the percentage shall be as may be prescribed.