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Should society go for bank guarantee for redevelopment?- Property Hotline
Posted
September 20, 2016
Views
5,552
Likes
77
Comments
7
Engagement
1.51%
September 20, 2016
5,552
77
7
1.51%
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3:00Now PlayingExpert: Uday Wavikar, VP, Consumer Court Bar and Association.
Question: If the society going under redevelopment should they go for bank guarantee?
Answer: Do not accept any kind of cheque from the builder as a security. For bank guarantee, the bank will verify whether the percentage of the amount is there or not. Society should have the proper proportion covering the construction cost to the extent of bank guarantee.
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