Area and price
- The carpet area is stated in the agreement and matches the RERA registration.
- The price and every extra charge are written in the cost sheet, including parking, club and maintenance deposits.
Possession and delay
- A clear possession date, not "approximately".
- The interest payable to you for delay, and the interest you pay for late instalments. They should be fair to both sides.
- What counts as force majeure and how long it can extend the date.
Payment schedule
- Payments tied to construction stages that you can verify on site.
- No demand beyond what the agreement lists.
Changes and defects
- Changes to the sanctioned plan that affect you need your written consent.
- A defect liability period, during which the builder fixes structural defects at no cost to you.
Cancellation
- How much is forfeited if you cancel, and how fast a refund is paid.
Have a lawyer read the agreement before you sign. A one-time fee costs far less than a dispute. Then complete the buying checklist and compute your stamp duty.
Frequently asked questions
What should a builder-buyer agreement include?
Carpet area, price and all extra charges, payment schedule, possession date, interest on delay, defect liability period, cancellation terms and the approved plan.
Can a builder change the plan after I sign?
Changes that affect your unit need your written consent under the RERA framework. Read the clause carefully before signing.
Should a lawyer review the agreement?
Yes. It is the single most useful hour you can spend before a large purchase.