Development rights and its breach
Sundar XXXXXXX
(Querist) 04 April 2015
This query is : Resolved
Prestige Lakeside Habitat is a Benchmark Project from the well known Prestige group.
When I look at the agreement between the owners of the land and Prestige, it is actually a development agreement, where the owners give builder the right to develop and sell apartments and villas. As compensation the builder agrees to share revenues with some owners and provide built up areas of a certain area to others.
As of now the builder has not met any of his obligation to the owners.So I think he does not technically have the right to sell to any third party. But the project has been launched for general public.
Given such a scenario, if I book a property in this project, would it not be necessary to add a clause in my agreement that indemnifies me against any future litigation?
Thanks
Sundar
Devajyoti Barman
(Expert) 04 April 2015
The buyer can always irrespective of actual scenario can incorporate a clause of indemnity against future litigation which affects his right of possession of enjoyment of property.
Do not there can not be any blanket indemnity clause as in many cases litigation may arise even without the fault of the builder.
ajay sethi
(Expert) 04 April 2015
agree with mr barman
Rajendra K Goyal
(Expert) 04 April 2015
Well advised, agree with the expert Devajyoti Barman.
