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Builder-Buyer Agreement – Residential Flat

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The promoter and the project
The allottee
The unit
Price, payment and tax
Possession, defects and cancellation
Disputes and signing

Step 1 of 6

The promoter and the project

Promoter's full legal nameNeeded

For example: Northland Homes Private Limited

Promoter's registered addressNeeded

House / flat / plot no.

Street, sector or locality

City area and PIN code

Promoter's PANNeeded

For example: AAECN5678L

Name and designation of the person signing for the promoterNeeded

For example: Rohit Malhotra, Director

Project nameNeeded

For example: Northland Greens, Sector 82

Project location/addressNeeded

House / flat / plot no.

Street, sector or locality

City area and PIN code

RERA registration number for the projectNeeded

For example: PBRERA-SAS83-PR0421

Title reference for the project landNeeded

A long answer. Several lines are fine, and a break you make between paragraphs is the break the document keeps.

For example: Sale Deed No. 118 dated 4 April 2021, registered with the Sub-Registrar, S.A.S. Nagar

Building plan sanction/approval referenceNeeded

For example: Sanctioned by GMADA, Memo No. 4421 dated 12 January 2023

Designated bank account for project fundsNeeded

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The Promoter confirms it maintains the separate RERA-designated account required by section 4(2)(l)(D) of the Real Estate (Regulation and Development) Act, 2016, into which seventy per cent of the amounts realised from allottees for this project are deposited, to be used only for the land and construction cost of the project

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BUILDER-BUYER AGREEMENT — RESIDENTIAL FLAT

BETWEEN

__________, of __________, PAN __________, acting through __________ (the "Promoter");

AND

RECITALS

A. The Promoter is developing the project known as __________ at __________, registered with the Real Estate Regulatory Authority under registration No. __________, on land held under __________, with building plan sanctioned under __________.

B. The Promoter confirms it maintains the separate RERA-designated account required by section 4(2)(l)(D) of the Real Estate (Regulation and Development) Act, 2016, into which seventy per cent of the amounts realised from allottees for this project are deposited, to be used only for the land and construction cost of the project

C. The Allottee has booked, and the Promoter has agreed to sell, the unit described below, on the terms of this Agreement, consistently with section 13 of the Real Estate (Regulation and Development) Act, 2016.

NOW THIS AGREEMENT WITNESSES as follows.

1. THE UNIT

2. PRICE AND PAYMENT

3. POSSESSION

4. DEFECT LIABILITY

5. ALLOTTEE'S DEFAULT

6. TRANSFER OF TITLE

6.1 This Agreement is an agreement for sale, and does not by itself convey title. Title passes only on execution and registration of a proper conveyance/Sale Deed in the Allottee's favour, after the Promoter has performed its obligations under this Agreement and applicable law, including obtaining the occupation/completion certificate for the project or the relevant phase.

8. DISPUTE RESOLUTION AND GOVERNING LAW

8.3 This Agreement is governed by the laws of India, including the Real Estate (Regulation and Development) Act, 2016 and the rules made under it for Punjab and for the Union Territory of Chandigarh.

9. GENERAL

9.1 This Agreement is the entire agreement between the parties about the unit and supersedes the Allotment Letter and all prior discussion to the extent inconsistent with this Agreement.

9.2 No amendment is effective unless made in writing and signed by both parties.

9.3 If any provision is held invalid or unenforceable, the rest of this Agreement continues in effect.

SIGNED for the PROMOTER
__________

Signature: ______________________________

WITNESSES

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