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How to cancel development agreement ?
21-Jul-2023 (In Property Law)
We entered into development agreement with builder in 2007.The agreement is registeted & POA is also given.Both the documents are irrevocable & do not have cancellation clause or time bar.The property consists of 3 structures & the builder has constructed a 17 storey building on it.The newly constructed bldg is a society & remaining two structures are tenanted G+3 buildings.Can we terminate the agreement with the builder after giving conveyance to the society and a perpetual lease is granted by the society for the land beneath the two buildings.If yes then how ?
When the conveyance takes place then why do u need to cancel the development agreement when the building is already constructed??
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Helpful?
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Adv. Asha Bhuta
Mumbai | 50+ Answers
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This is my response to you:
1. You can revoke the POA;
2. You can send a notice for revocation;
3. You can then revocate it with a registered deed;
4. You will have to discuss more facts of your case;
5. Consult a local lawyer and take steps.
Helpful?
38+
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Adv. Gowaal Padavi
Mumbai | 1000+ Answers
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