It can be mentioned that building shall be constructed as per sanctioned plans
Builder shall deliver posssession of flat within period of 3 years of flat being vacated
IAAA clarification & remedy
'It is further clarified that on taking over possession of the said Premises, the Member’s rights over the said existing flat shall be extinguished and in lieu thereof rights over the said premises shall be created on the terms and conditions, agreed herein.' When the above clause is inserted in an Individual Agreement provided by the builder to the redevelopment member wherein the Title of the Society/building is being changed what can we add to protect our membership rights?
Asked 7 years ago in Property Law
Religion: Hindu
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3 Answers
This seems to be a general clause inserted on every such redevelopment agreement.
This does not means that the members rights have extinguished absolutely, in fact the fresh and terms and conditions shall empower the members with more rights in the redeveloped property.
You may read the terms and conditions created after that and see if the conditions therein are not suiting to the prevailing situation or is depriving your rights, you can instruct the builder for modifying the same as per the advise of your lawyer who after reading the fresh conditions may advise you to make certain changes which would be in your favor.
when builder wants to insert this clause in the agreement he has to make agreement as fresh because section 62 of the indian contract act, insertion of any clause is treated as novation of agreement and consent of the parties is needed on a fresh agreement.
