Apartment Choice

Difference Between a Condo and an Apartment • Categorized under Miscellaneous | Difference Between a Condo and an Apartment Condo vs Apartment If you are planning to shift to a big city in your country then accommodation would be an obvious concern. Nowadays two forms of residential facilities are becoming very popular around the world ‘“ apartments and condos. The reason for the up rise in their popularity is that these take up comparatively lesser amount of space and provide accommodation for a large number of people. But is there a difference between the two? The answer is yes, there are differences and that also significant ones. This article is an endeavour to explain the two terms more clearly to our readers. Both forms of accommodations offer their own pros and cons. Physically, it is impossible to distinguish between the two, it is the law which defines the two that help us in making the differences more clear. Essentially one could say that a condo is collection of individua...

The meaning of Condominium is a Building or Complex of Buildings containing a number of individually owned Apartments or houses. Though this concept isvery old one of ownership for buildings in Mumbai, it is the Co- operative Housing Society model which has been and even today, is the most popular and preferred so far. Buyers who purchase premises on an 'ownership' basis require to come together to manage the building and for that purpose, one of the ways is to form a Co- operative Society , which is regulated by the Maharashtra Co- operative Societies Act , 1960. An alternative to a Co- operative Housing Society was introduced by the Maharashtra Apartment Ownership Act , 1970, which provides for the formation of a Condominium. The buyers of premises in a Condominium are called Apartment owners who form an association known as an 'Association of Apartment Owners ' in case of both i.e. residential as well as non-residential premises. The meaning of...