When and How should the Promoter execute and register the Agreement to Sale with the Buyer?
The Promoter should accept booking/token amount, maximum 10% of consideration value, from the buyer for allotting home, office, etc. before executing & registering the agreement.
The Model Agreement may be used, however, it shall be in accordance with the Act, Rules, etc.
It shall specify the development stages, specification, internal work schedule, payment schedule, date of possession and so on.
Any allotment letter, etc issued at the time of booking shall not limit the rights and interests of the buyer.
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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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