Agreement Under Construction

There are three main types of production orders identified according to the mechanism for calculating the amount to be paid by the employer: lump sum contracts, measurement contracts and refundable contracts. The different types are distinguished mainly by the person who takes care of the risks incurred, the party who has to bear the cost overruns and the party who can retain the savings if the project costs are lower than the estimated costs. [3] As a general rule, buyers are confused about how the agreement is concluded if the bank insists on registration. Any real estate transaction is very risky, especially if you are buying a property under construction. I highlighted critical points in my article “Under Construction Property – 7 Imp Points”. In one case, a buyer has registered the property that is in the pre-launch phase. This means that not all permissions to launch a project are available, but the recording is complete. In this case, both the client and the bank have preserved their financial interests and the entire risk is on the shoulder of the buyer. When I proposed against such an agreement, the buyer argued that the bank approved the housing construction loan. I mention this point in almost all my speeches that Home Loan is like any other personal loan. A property is mortgaged as a bank guarantee / guarantee against a loan. Approving a home loan does not mean that the project is risk-free.

Let`s check the process of registering real estate under construction. Let me first clarify that there is no standard procedure for this. I only share what I think should be the right way to safeguard a buyer`s interests. About 80% of buildings in Bangalore have violations of either type of construction and, if construction is stopped. Bangalore generates the highest taxes/money in terms of real estate. Everyone will pretend not to know anything. And the biggest part of all this is that the bribes are paid to all the stakeholders of the company who sometimes go to Lakhs/Crores Rupees by the client. The stamp paper must not have a notary`s signature.

Notarial stamp paper is stamp paper that is subject to a notarial examination and signed by both parties before the notary. Philatelic paper is also made up of government stamps and the stamp seller to project the date of issue and other details. If it is a sale agreement and involves the transfer of innovative real estate, then subject to registration We have already purchased an apartment at MS Garden Apartment, Bangalore, from MS ARASU Builders & Developers in 2012. A few months after the purchase, we noticed that the walls had developed cracks due to the poor quality of the construction and after 1 rainy season, my bedroom wall was completely ruined by infiltration…