Without proper credentials, should you sign property agreement? - Property Hotline
February 8, 2017
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4:47Now PlayingWithout proper credentials, should you sign property agreement? - Property Hotline
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as posted by the channelExpert: Aditya Pratap, Advocate, APA
Question: I booked a flat in an upcoming project in Godrej Avenues, B’luru. The Builder has sent an agreement for signing without mentioning the completion date. There is no mention of actual end date of the project. I am not ready to sign the agreement but they have started forcing people to sign it, mentioning that if they do not sign, the booking amount will be forfeited. Please guide me on the options I have.
Answer: Under section 4 of RERA, the builder has to register the project under RERA. Once registered, it is mandatory to state a completion date and the agreement should mention the date of possession as this will force the builder to deliver the property on time. Forfeiting the booking amount can never be the law. You have the right to claim the booking amount. Refusing to refund you is a criminal offence. I will advise you to send a letter of protest to Godrej and then immediately file a complaint to local RERA if you have invested any money in the project.
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