Welcome to PSR ASTER A BMRDA Approved 2&3 BHK luxurious residential apartments is located in the IT hub on Sarjapur Main Road, it is close proximity to many of the well known locations, Educational institutions, Hospitals, and Shopping Centers making it an attractive options for the Home buyers. It has total 344Units and the Apartments Super Built up Area will range from 1025 Sq.ft. to 1585 sq.ft. The compose Of PSR ASTER is Stilt-Parking Space, Ground +3 upper Floor Building with Seven Bloc..
Apartment Type: Multistorey Apartments
Area Range: 1205–1340 Sq.Ft
Price Rs. 31.33 Lacs onwards
Location: Sarjapur Road, Bangalore
Bed Rooms: 2bhk, 3bhk
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Properties and human beings are inseparable. With progress and social change over the ages the urge to own property, wealth has acquired demonic proportions. In the present day world, immovable properties are the most valued assets one can possess.
The desire to own material possessions reared its head in the inquisitive mind of the Stone Age man. Thus women, children came to be his first personal assets, followed by immovable properties. While literacy and social outlook have elevated the status of women and children, there has been no change worth the name as to the status of immovable property as the personal asset of the human being. So long this state of affairs continues problems relating to property transfer will persist. From Stone Age to cement age, it has been a long haul.
Partition is division of property held jointly by co-owners. When a property is divided each member becomes sole owner of his portion of the property. Each divided property gets a new title and each sharer gives up his or her interest in the estate in favour of other sharers. Therefore, partition is a combination of release and transfer of certain rights in the estate except those, which are easements in nature.
Partition is neither a gift nor a transfer of property. It merely breaks a joint right into several rights. It is not acquisition of property or exchange of property. It is a combination of release and conveyance of the rights of the property in favour of individuals. And therefore it can be effected orally. Partition is not transfer but when it assumes the form of transfer, the intention may be to hoodwink the creditors.
The basic character of joint Hindu family is that each member has inherited title to the property by birth. Each member has joint title to the entire property and that joint enjoyment of the title is converted by partition into separate title of the individual co-owner for his enjoyment. Therefore, it is now an establishedfact that partition is not transfer, but transformation of joint property.
There are some properties, which cannot be divided physically. If physical division is not possible, partition can still be effected by paying cash or other assets to a sharer in lieu of his or her share in the property. Such situation arises when the division of an estate is considered to be dangerous and unreasonable, and when such division dilutes the inherent value of the property, or when the immovable property is too small for division.
The instrument of partition is a document by which the co-owners of a property agree to divide the property among themselves by oral agreement or written agreement or by arbitration or through court. If a document of release shows that the executants are to get cash or other assets, the document is an instrument of partition. The basis of partition is equality. The parties shall share the property equally.
If there is no agreement among the co-owners for amicable division of the property, the only alternative is to sell the property by mutual consent or by court decree and distribute the sale proceeds among the co-owners. Any of the co-owners may also enforce partition through Court.
In a partition suit a court may have decreed partition of the property in the interest of the co-owners. But if it is found that the sale of the property and distribution ofthe proceeds to the co-owners is more beneficial, the court can at the request of the shareholders direct sale of the property and distribution of the proceeds to the co-sharers.
There are three types of co-owners: Joint tenants or tenants-in-common; Hindu Joint Family owners or coparceners; partners of a partnership firm.
Under the Hindu Law in general everyone being a co-owner in a joint ownership has a right to claim his share and such right cannot be denied to him if the property is held as joint tenants. Since joint tenancy is unknown to Indian law, there is not much difference between joint tenancy owners and tenants-in-common.
Christians and Muslims hold properties as tenants-in-common or as joint tenants and partition of such immovable property can happen by mutual consent or by partition deed or by court decree or arbitration.