Flat owners urge Centre to draft new builder buyer pact
According to the Federation of Associations of Apartment Owners, disclosures made at the time of agreement would rule out chances of manipulation by the developer
Oct 06, 2014
Source : The Times of India
Housing Projects


GHAZIABAD: Apartment owners in Ghaziabad have asked the Union ministry of urban development to formulate a 'model builder-buyer agreement' that reduces disputes and litigations in housing projects in the city.

In a letter written to the ministry on Saturday, the Federation of Associations of Apartment Owners (FedAOA) of Ghaziabad demanded that an annexure of the true disclosure of the project be included in the agreement that includes details of land history, facilities, fixtures and fittings, design specifications and NOCs from departments concerned. According to the federation, disclosures made at the time of agreement would rule out chances of manipulation by the developer.

The move comes following thousands of disputes between developers and homebuyers that have occurred owing to non-transparency in agreements. "Numerous cases between residents and developers of housing projects are pending in courts. These litigations have mostly stemmed from discrepancies between what was promised to buyers in agreements when they booked the flats and what was ultimately delivered to them. This necessitates a transparent agreement so that homebuyers do not feel cheated after taking possession of their housing units," said FedAOA president Alok Kumar.

Apart from court cases, homebuyers have, in the recent past, also complained about delays on the part of developers in handing over the flats. In the letter to the ministry, the federation highlighted that agreements do not contain clauses on the exact date of completion of flats or penalties that developers are liable to pay in case the handover is delayed. According to the federation, an equitable and legally tenable builder-buyer agreement would bring a sea change in builder-buyer relations and provide valuable contractual rights to both parties.

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