How can a buyer be protected if the project is delayed?

With regard to the delay in completing the project, it is important to check whether there is a damages clause provided in the sale/allotment letter agreement. On the approvals, you must ask the developer to provide copies of the approvals received from statutory authorities such as municipal authorities, development agencies and other statutory bodies.

  • Check if the project you are interested in is a Joint Venture. If so, check out JV partner as well and the details of the JV.
  • Also, check the neighborhood market and features and rates in the vicinity of other re-sale property. Once you benchmark a property on the corridor you will be able to decide if the price asked for is justified