With the high input costs of construction materials and labour, the homes are getting costlier sooner than expected. Even in such cases, the Promoters generally don’t increase the purchase cost to retrospective/existing customers unless there is a high variance in the costs which is unprecedented.
But it boils down to the 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 a registered agreement, it shall be governed by the allotment letter.
The new/prospective customers will anyway receive the updated cost of the flat, etc.
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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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