We have a built up plot of land belonging to the family. We are in the process of contracting a builder for development of the property after demolishing the old structure. The builder will retain rights over a part of land and sell a few flats. He would also gives us three flats out of the lot he builds.
We are planning to start with a development agreement and give him POA for getting all statutory sanctions and permissions. Once the building is complete, what are the documents that the builder is supposed to give us to show that the building is as per the sanctioned norms, there're no encumbrances against it, that we're free to either sell or occupy our share of the property.
Further, for maintenance of the common area, should we have a Co-op Hsg society? Who shd be managing office? How are the charges for the maintenance determined?
Would appreciate some help in this matter.
