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Whether any agreement is executed between buyer and the builder?
20-Jan-2023 (In Property Law)
i wanted to know is there any separate construction agreement executed between a builder and the purchaser of a individual flat in DELHI and do they mention undivided share % given allotted to the purchaser in the agreement or is there a separate undivided share certificate.
There might or might not be any such agreement. The situation varies from case to case and property to property. The law does not mandatorily prescribes an agreement of such a nature to be executed and such agreement, if any, depends upon the wishes/willingness of the parties involved to execute the same in their peculiar circumstances.
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Adv. Puneet Kumar Agarwal
Delhi | 100+ Answers
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Adv. Avneesh Garg
Delhi | 200+ Answers
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Its for the parties to mutually decide the terms and scheme of any Agreement. However, every Agreement needs to be in conformity with the provisions of the law, otherwise, it may not be enforceable. Depending upon the mutual agreement, constructions agreements are also being executed. Share Certificate is normally issued where the Society is formed or the company is floated for the project etc. Detail answer could be provided after scrutiny of the entire relevant material facts.
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Adv. Shankar Kumar Jha
Delhi | 25+ Answers
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