The 'Agreement for Sale' that Royal Palms would like a buyer of a flat in the Ruby Isle Apartment building to sign states that the flat being sold is a 'Service Apartment'. Further, that the buyer agrees to user the said premises only as a 'Service Apartment' and for no other purpose and in consonance with Municipal Rules.
The agreement does not define 'Service Apartment'.
I'd like to understand what the difference between such a 'Service Apartment' and a normal Residential Apartment is? Why is Royal Palms terming it a 'Service Apartment'? Does a 'Service Apartment' also confer a full and complete title to the flat being purchased as a normal residential apartment in a housing cooperative?
The agreement does state that Royal Plams will execute a deed of lease for 999 years in favour of the Housing Coocerative society that the residents of a building may form. However, they will do so only after all the flats in the building have been sold by Royal Palms. Does the lease have any bearing on why its being termed as a 'Service Apartment'?
My initial discussions with the Royal Palms Marketing Team and their advertisements did not describe Ruby-Isle as a service apartment.
Any response will be appreciated.