- As per Sub-Section 1 of Section 13 of The Real Estate (Regulation and Development Act,), A builder will have to enter into an agreement to Sell with a home buyer, and then accept the booking amount which should not be more than 10%.
Hence demanding the remaining 90% payment before the delivery of possession and registration of title deed is against the Law.
- Further, if you pay the amount demanded by the said builder against the Act , then you may face problem , specially when the builder could not get Occupancy & Completion Certificates etc from competent authority or delay in handing over the possession.,
- Further , without getting the said documents , even if you got the possession of the property , then also you cannot get any facilities like electricity , water legally .
- Being a legal adviser, my suggestion would be, dont go against the rule made under section 13, as i stated above.
- However , you can purchase this property though a POA/SPA in favour of any relative in India.
reply as above.