Posted in Operations and Supply Chain Terms, Total Reads: 1145

Definition: Condo

It is the short form of Condominium. It is an arrangement of owning a real property where the property is divided into 2 distinct parts:

1. The individual unit

2. Common property

The common property is jointly owned by all the individuals. This common property includes elevators, escalators, halls, water geysers etc. This is maintained by the association of owners.

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