Subject to the provisions of Section 11, each Apartment(Flat), together with the undivided interest in the Common areas and facilities appurtenant to such Apartment(Flat), shall, for all purposes constitute as a heritable and >kj[k.M xtV ¼vlk/kkj.k½] o`gLifrokj 2 Qjojh] 2012 35 transferable immovable property within the meaning of any law for the time being in force, and accordingly, an Apartment(Flat) owner may transfer his Apartment(Flat) and percentage of undivided interest in the Common areas and facilities appurtenant to such Apartment(Flat) by way of sale, mortgage, lease, gift, exchange or in any other manner whatsoever in the same manner, to the same extent and subject to the same rights, privileges obligations, liabilities, investigations, legal proceeding, remedy and to penalty forfeiture or punishment as any other immovable property or make a bequest of the same under the law applicable to the transfer and succession of immovable property;
Provided that where the allotment, sale, or other transfer of any Apartment(Flat) has been made by any group housing co-operative society in favour of any member thereof, the transferability of such Apartment(Flat) and all other matters shall be regulated by the law applicable to such group housing co-operative society.
13. Purchasers or persons taking lease of Apartment(Flat) from Apartment(Flat) owners to execute an undertaking- Notwithstanding anything contained in the Transfer of Property Act, 1982 (4 of 1882), or in any other law of the time being in force, any person acquiring any Apartment(Flat) from any Apartment(Flat) owner by gift, exchange, purchase or otherwise, or taking lease of an Apartment(Flat) from an Apartment(Flat) owner for a period of thirty years or more, shall -
(a) in respect of the said Apartment(Flat), be subject to the provisions of this Act; and
(b) execute and register an instrument in such form, in such manner and within such period, as may be prescribed, giving an undertaking to comply with the covenants, conditions and restrictions, subject to which such Apartment(Flat) is owned by the Apartment(Flat) owner aforesaid.