The agreement may say that you must pay for certain items on the actual basis of costs at the time of possession. It can then create a nasty surprise by claiming a higher amount than expected. This could be for things like club membership, electrical connection fees, etc. Similarly, at the time of booking, it is not allowed to indicate SPS (preferred location rates). Later, he could calculate you anywhere from Rs 100 to 500. The agreement could contain a clause allowing the owner to change the number of square metres of the apartment. If he has gained weight, he calculates a supplement. “What`s changing is not the carpet area, but the super-sector,” says AnujSood, director of Sood Properties based in Noida. “You can pay 10 to 15% more at the end, while the benefit may be marginal or nil for you in terms of the extra area.” There are many things you need to keep in mind when buying a home. The agreement between the buyer and the owner is such a thing. It`s the only document that protects your own rights, so you should read it carefully to be clear about everything from the start.
This is one of the most important legal documents for every home buyer. This contract has all the necessary conditions that buyers and contractors must respect based on their objectives. The terms and conditions mentioned in this document also protect your rights as a buyer, so you do not overlook the importance of these. Closing certificate: the municipal administration finds that the house/housing/unit is compliant and complies with approved plans. The contractor`s purchaser contract states that the owner must present the closing certificate when the property is handed over. RERA has significantly changed the Indian real estate sector. Pending implementation, the agreement generally included land assets, details of authorizations/permits received, and the length of the permit at the same time as the period before the property was handed over, amenities/installations, additional penalties/payments in certain circumstances, etc. For ongoing projects, the agreement would have information on the housing/housing number, soil, wing area and costs, as well as completion time.
The construction/buyer contract is an immensely important document since it is the legal contract between the owner and the buyer. If the developer does not keep his word in any form, it is the most important legal document that the buyer must use. Many owner-buyer agreements have shifted sharply in favour of the owner. Also check dispute resolution clauses and amenities and other specifications in your home unit. Check to see if they are given to you if you have the property. The agreement will help you to require these amenities if the owner does not provide you with the same thing. The document will also help you develop your own legal rights to ask the owner for something in the event of a legal issue. Sign the agreement once you have carefully reviewed and read it correctly. The contractor-buyer contract is designed as a sales contract and sets out the provisions for the size of the land, the date of delivery of the building and the construction standards.