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Builder-Buyer Agreement Clauses You Should Never Ignore
The builder-buyer agreement is a legally binding document that defines the terms of property purchase. Key clauses to watch include the possession date, which must be clearly stated with penalties for delay. The compensation clause should specify the amount payable if possession is delayed—ideally per month or per square foot. Maintenance charges must be transparent and applicable only after possession or issuance of the Occupancy Certificate. Watch out for hidden costs like parking fees, club membership, or preferential location charges—these should be itemized upfront. Always verify RERA compliance and consult a lawyer before signing.
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