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Kay Abreu (NA)     22 November 2016

Promoter

A promoter has approached me to construct a multi-storey on my land consisting of 9 flats out of which he will give me 4 flats. No cash. A 2-storied house already stands on the land. Please advise so I get the best deal and what safeguards I must take.


Learning

 2 Replies

Adv. Yogen Kakade (+ 91 9225510883)     22 November 2016

It is always advisable to consult a good lawyer with all documents available. 

Few things to remember are:

Never give a possession before executing any registered agreement with the promoter.

Execute an agreement with each and every term agreed between you both.

Be clear about the built up area, carpet area, FSI consumption, FSI generated in future, common area utilisation, flats specification, time duration, conseqences of  failure etc.

Consult an architect  to know the plan well.

All the best

Adv. Yogen Kakade

Jurycon Incorporation (Advocates & Consultants)
Email: juryconincorporation@gmail.com
Web: www.juryconn.in   Phone: 020-65248888 / 09225510883

Dr J C Vashista (Advocate)     23 November 2016

Consult a local lawyer with all documents and drafting of MoU/Agreement conventing minute details qua possession, construction and registeration besides other aspects involved.


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