‘ES­CA­LA­TION IS NOR­MAL IN A CON­TRACT’

What can a buyer or de­vel­oper do in case of breach of con­tract? Here are some le­gal reme­dies for ef­fec­tive res­o­lu­tion of con­flicts

HT Estates - - NEWS -

What are the reper­cus­sions of a de­vel­oper ter­mi­nat­ing a book­ing? Can he do so and cre­ate third party in­ter­ests? In a num­ber of cases, cus­tomers need to ob­tain loan dis­burse­ments. What are the con­se­quences for buy­ers avail­ing of such loans? As per the terms of the agree­ment, can penalty for de­layed pos­ses­sion on the part of the builder be de­nied to such cus­tomers who have in turn them­selves de­faulted in mak­ing pay­ments? In case of such cus­tomers, can the com­pany charge in­ter­est for the de­layed pe­riod and also refuse to give penalty for de­layed pos­ses­sion? De­vel­op­ers re­quest cus­tomers to pro­vide af­fi­davits and un­der­tak­ings to al­low them to amend build­ing plans. Should they do this?

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