The UDS plays a crucial part in the process of purchasing a home in a high-rise or other large-scale development. The customer of an apartment in a residential complex receives an undivided share of the land on which the entire complex is built. Each unit which is built on the land will have an undivided share of the land on which it is built.
Potential apartment buyers may not be familiar with certain real estate terms. The term “undivided share” is one example. TruDwellings provide the best of apartments with UDS at wonderful locations like apartments near whitefield.
Why is UDS so important?
We all know that the price of land in itself is extremely important. Other assets may depreciate with time like construction, vehicles but real estate rarely does. It’s important for prospective homeowners to understand that the only thing that appreciates in value over time is the land itself; the construction in itself loses value as time passes due to depreciation.
This is why experts predict that land ownership is very important and its significance will only increase in the years to come. Apartments in East Bangalore and other areas are extremely valuable and having UDS at these locations is highly valued!
Housing project’s legitimacy is determined by UDS compliance with the developer’s allowed FSI (floor space index). The legitimacy of a building could be determined by inspecting your undivided share of the land and such specifics.
FACT- Do you know what the minimum percentage of undeveloped land in Bengaluru is? For more information, click here
Future of your investment
Banks routinely check for the UDS when deciding whether or not to extend credit for a mortgage. The bank will check certificate from your housing society, along with other documents, in order to process your request for a home loan if you are purchasing a property in the secondary market. The sub-registrar will verify the share certificate both during property registration and afterward.
The structure and the land make up the bulk of an apartment’s overall price. The land value is the total amount paid for the entire plot of land included in the construction project. Owners will be compensated based on their undivided share (UDS) of the land, which will be recorded in their name if the building is redeveloped or acquired by the government and demolished after a period of time.
It applies to any piece of land
Prospective homeowners should be aware of the high value of a garage. Your UDS will increase by the area of any designated parking lot provided by the developer. However, this is only possible if the purchaser verifies that the developer has properly recorded the parking space in the purchaser’s name.
Therefore it’s extremely important to have a trustworthy developer with transparent and fixed price homes. Tru Windchimes is a gated community project by Tru Dwellings, Bangalore near a prominent techpark provides apartments in East Bangalore. Tru Windchimes provide UDS to its homeowners- assuring their share in the land because investing in your home is an extremely important decision.
How do I know if the bought property has UDS?
The sales agreement will contain your UDS. You can inquire with the contractor if it is not specified. Homeowners need to make sure that all of the promised UDS match those listed in the agreement. Banks often consult the UDS when deciding whether or not to grant a home loan
Home buyers should have the most meticulous look at UDS before anything else. Your priorities need to be set right before making a major investment. All members of a co-op housing society will have an equal share depending on the sq ft purchased.
The housing society share certificate will be required as proof of ownership. A sub-registrar will verify the share certificate alongside the property registration.
TruDwellings has the most wonderful options for apartments near techpark that provide uds.
Legality of your home
Buyers are compensated based on their UDS in the event of a natural disaster. The same holds true if the government decides to purchase the land or the land gets redeveloped. Naturally, if you ever decide to sell this property, you will be required to provide evidence of your UDS. Although a high UDS is ideal, there have been instances where sellers were willing to negotiate a lower price in exchange for a lower UDS.
The buyer is responsible for paying the UDS stamp duty and the structure stamp duty at the time of property registration. For those purchasing properties in the construction phase, stamp duty must be paid in two instalments in states like Karnataka. It’s important to be fully sure of whether your developer provides UDS or not no matter which area you are buying your apartment in.
Tru WindChimes by Tru Dwellings, Bangalore, provides a better considerable UDS as compared to other housing properties in Bangalore that assure a higher percentage of Undivided land share to all home owners!