Apartment to be heritable and transferable.

(1) Every person to whom any apartment is allotted, sold or otherwise transferred by the Promoter, whether before or after commencement of this Act, shall, subject to the other provisions of this Act, be entitled to the exclusive ownership and possession of his apartment, and be entitled to such undivided interest in the common areas and facilities as may be specified in the deed of transfer of apartment and such undivided interest shall be computed by taking, as a basis, the built up area of the apartment in relation to the built-up areas of all the apartments in the building: Provided that in case of mixed use project where a building or an apartment has been allotted, sold or otherwise transferred for non-residential use, the undivided interest in the common areas and facilities of such non-residential building shall be such as may be prescribed. (2) An apartment together with its undivided interest in common areas and facilities appurtenant to such apartment shall be heritable and transferable immovable property within the meaning of any law for the time being in force and accordingly an apartment owner may transfer his apartment and undivided interest in the common area and facilities appurtenant to such apartment by way of sale, mortgage, lease, gift, exchange