Legal document of payment made on booking flat in pre-launch property

Hello, I am planning to book a flat in a pre-launched project. Builder is providing MoU on 100 rs/- stamp paper at this stage as land is yet to registered on builder's name. I have checked the all details in MoU and all necessary items are included in it however as far as I am aware a MoU is not a legal binding document. I am suppose to make payment of 5 Lakhs as part of booking amount and remaining 20% at the time of land registration ( 1 Month later approximately). Can you please suggest if this is advisable or the money I am going to pay before sale agreement is secured by a MoU? Thanks!!!

Answers (1)

397 votes

Unless the land is transferred in the builders name, we will suggest that you should not to give any booking amount to the builder.

Furthermore, yes if you sign a MOU then it becomes a legal document and is enforceable.

If the land is transferred, then after property due diligence you can execute an MOU and give a booking amount

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