Transfer of property

This is the entire agreement between the parties. It replaces and supersedes any and all oral agreements between the parties, as well as any prior writings. Modifications and amendments to this agreement, including any exhibit or appendix, shall be enforceable only if they are in writing and are signed by  both parties.

You have clearly stated that the agreement restricts the buyer from creating any transaction on the property within the time stipulated, how do you say that you can claim relief by interpreting the conditions in your favor. Is there any clause for joint agreement in the sale agreement, if not how do you think you can claim any relief in that manner?, you should have thought about your financial standing at the time when you had entered in to such an agreement with the  builder, however, if the builder agrees for the modification of the agreement and get it duly executed and may proceed, talk to the builder.

Mr. T. Kalaiselvan, 
I have gone through your advice but failed understand as to why I can't seek an amendment to the agreement that has been executed already. I knew my financial position at the time of entering into the agreement. The said property was thought to be resold to a prospective purchaser immediately after running out of my funds because the EMIs were paid out of capital gain account. Before the expiry of 2 years Lock-in period by entering into a private agreement by mutual understanding without any written agreement. Now the situation is changed as the builder is insisting to pay EMIs every month in Lakhs, as a result I thought of raising bank loan. But in view of my age i.e 75+, the bankers have denied loan. My intention of seeking an amendment to the agreement is to include the name of my son who is in his forties to whom bank loans can be sanctioned. The condition stipulated in the agreement was having a Lock-in period of 2 years for resale or reassignment. My proposed amendment does not involve any transfer or assignment of the property. The said amendment will not take away my ownership of the property.

     Please clarify whether I can force the developer for the said amendment.
                                                           

You are interpreting the law in your favor by taking which is not proper as per law. Actually such things can be made alright through a consensus between the builder and you involving your son but if you want to adamantly paint legal color to this, the builder may withdraw quoting the  strict terms and conditions, decide wisely.