Regarding possession timeline clause in sale agreement (banakhat) for earnest money payment
chaitanya mehta
(Querist) 09 March 2014
This query is : Resolved
Hi,
I have given a talken amount of 25 thousand recently to the builder by cheque.
Rightnow there is only plain ground on the place of construction & builder has put the town planning permission application to Local Civic Authority.He will start work after 1 or 2 months.
Builder asked me to Pay the down payment of 5 Lac total(By cheque)as the Property base rate is 26.25 Lacs.
I am ready to pay this earnest money & I want to proceed for Sale of Agreement(Banakhat) based on this 5.25 Lac Payment.
As I have gone through the Gujarat Ownership Flat act 1973 & Maharastra Ownership flat act,which states the builder should mention possession timeline clause on the Sale Agreement.I am worried about the late possession as I am already paying high amount of rent currrently.BUILDDER IS NOT READY TO PUT THIS CLAUSE IN SALE AGREEMENT.
So my query is that if the builder will not put this clause in the Sale Agreement & in future if he fails to give timely possession after my full payment,can I take any legal action or log any complaint at Consumer court?Please suggest me about my right.
Also Please suggest If there is any way to make builder ready to put the possession clause in sale agreement.
ajay sethi
(Expert) 09 March 2014
never part with your hard earned money unless building plans are sanctioned by muncipial corporation and IOD and commencement certificate is issued .
insist on registered agreement wherein time for completion of project is mentioned . do not part with Rs 5 lakhs .
Rajendra K Goyal
(Expert) 09 March 2014
Enter into a registered agreement with all terms and conditions fully mentioned. Confirm that all the formalities regarding the project are complete.
You may be getting some discount at this stage but don't gamble with your hard earned money and limited resources available with you.
T. Kalaiselvan, Advocate
(Expert) 11 March 2014
without having an opinion about the property and the builders conditions being studied properly, and showing all the papers to an advocate for his opinion, do not venture into sale agreement in a hurried and routine manner, later on you will be stuck in a repenting situation without knowing what to be done next.
