It is created when a number of people own properties that share common areas such as swimming pools, gardens, parking areas, walkways, foundations, supporting walls, facade, roof, corridors, staircases, lift, laundry rooms etc. Co-ownership of common areas comes with responsibility for the same and all owners must contribute to their maintenance. Norwood Grand, developed by City Developments Limited , is located at Champions Way next to Woodlands South MRT Station. This iconic project, part of URA’s rejuvenation plan for Woodlands, is the first private condominium in the area in years. It spans 155,000 sq ft and will feature 345 residential apartments with 2- to 4-bedroom units. In case of disagreement as to price, the procedure set forth in the appropriate provision of the Corporation Law for valuation of shares shall be followed.
- Embark on an exciting journey through a mesmerizing 2023 new launch development on Lentor Hills Road, unveiling 598 exclusive private residences in the flourishing Lentor township.
- It’s about creating a sense of community, fostering open communication, and maintaining the overall well-being of condo property manager everyone involved.
- When choosing an apartment for rent, you will likely deal with multiple property management members.
- The condo hotel provides guests with a terrace, sea views, a seating area, cable flat-screen TV, a fully equipped kitchen with an oven and a microwave, and a private bathroom with shower and a hair dryer.
And who could blame those who are vying to buy properties in this archipelago? Jobs are always plenty since investors from different types of sectors keep on putting business in the country’s top cities. Real estate developers are building exciting new projects that can cater to any lifestyle.
What is the meaning of condominium?
Discover an abode that stands on the frontier of luxury living, made possible by visionary architect and founder of Rotterdam-based KCAP Architects&Planners, Kees Christiaanse. Like a series of urban sculptures, The Reef at King’s Dock, with its 10 residential blocks, creates an exclusive,… Forett @ Bukit Timah, a 633-unit condo located on the site of the former Goodluck Garden in District 21 of Singapore. Forett @ Bukit Timah is well connected to major expressways (AYE, PIE & BKE) which is minutes drive to Holland Road, Orchard Road, CBD and Jurong Gateway and a stone’s throw… In conclusion, it is always best to seek legal advice to safeguard your condominium rights and be aware of your obligations. An owner of an apartment who incurs costs without having been authorised in writing to incur those costs by the administrator or by the meeting of the condomini does not have a right to be reimbursed unless these were of an urgent nature.
The term “condominium” originated from the Latin words “con” meaning “together” and “dominium” meaning “ownership.” It embodies the essence of communal living while ensuring individual ownership rights. Each condo owner holds a title to their unit, granting them exclusive rights to occupy and use the space as they see fit. However, they also share ownership of the common areas with all other unit owners, typically through a homeowners’ association or condominium corporation. These payments often cover the expense for protecting the structure, sharing utilities, and a fund set aside for future building maintenance.