With the high input costs of construction materials and labour, the homes are getting costlier sooner than expected. Even in such case, the Promoters generally may not increase the purchase cost to retrospective/existing customers unless there is high variance in the costs which is unprecedented.
But it boils down to main point - terms agreed between both Promoter & Buyer regarding the cost and also increase in the cost, in the registered agreement.
In the absence of registered agreement, it shall be governed by the allotment letter.
The new/prospective customers will anyway receive the updated cost of the flat, etc.
Looking for more such advice? Or, seeking RERA consultation for your project, want to register your project or comply RERA by quarterly updating your project? Contact us today!
The information relayed in this blog should not be construed as legal advice. The applicability of information varies on the basis of the circumstances of each case. But feel free to call us for similar advice.
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