Agree­ment is key

A model builder-buyer agree­ment is the way out of the ‘su­per area’ mess

HT Estates - - HTESTATES -

Ac­cord­ing to le­gal ex­perts, a model-builder buyer agree­ment, sale of flats on the ba­sis of car­pet area and strict im­ple­men­ta­tion of apart­ment acts are some of the so­lu­tions to solve the prob­lem of builders charg­ing extra for in­creas­ing su­per area for booked flats

“If the flat sale hap­pens on the ac­tual size (car­pet area/cov­ered are) which a home­buyer can phys­i­cally mea­sure, the in­crease in area can be eas­ily ver­i­fied. Fur­ther, if the builder- buyer agree­ment refers to only the car­pet/cov­ered area and no in­crease or de­crease in apart­ment size at a later stage, the is­sue can be ad­dressed in favour of the home­buy­ers to a great ex­tent,” says Rahul Rathod, a Noida-based lawyer.

“The most im­por­tant step, would be the strict im­ple­men­ta­tion of apart­ment acts of var­i­ous states which will nip the prob­lem in the bud. For in­stance, the UP Apart­ment Act 2010 has a pro­vi­sion to give true dis­clo­sure at the book­ing stage to the home­buyer as well as the de­vel­op­ment author­ity. This dis­clo­sure will clar­ify each and ev­ery as­pect of the up­com­ing group hous­ing pro­ject. The developer can’t fleece home­buy­ers in the name of in­creased su­per area. Un­for­tu­nately the Ut­tar Pradesh or Haryana de­vel­op­ment au­thor­i­ties have not been able to en­force the var­i­ous pro­vi­sions of their re­spec­tive apart­ment acts,” says Rathod.

THINKSTOCK

The mort­gagor is en­ti­tled to in­spect and make copies or ab­stracts of, or ex­tracts from, ti­tle doc­u­ments re­lat­ing to the mort­gaged prop­erty which are in the cus­tody or power of the mort­gagee

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