In increasing competition and price war, various developers and builders are offering construction link plan. Another complication in the real estate market is timely delivery of the project. These challenges are often seen in front of consumers and builders. Sometimes to safeguard their hard earn money consumers call for the registration of incomplete units and feel trapped. In such cases draft of the sale documents play a vital role. Normally people buy under construction property as they find them cheap. But to safeguard the money consumer should go for Under Construction Property Registration.
Collaboration as name suggest is the collaboration or agreement or understanding between the owner of the property and the builder that builder will raise the construction on the land of owner and in return property owner will sale a part of that constructed property to the Builder. Collaboration is a very common and popular now a days.
Many people confuses over Under Construction Property and Collaboration. Under Construction Property agreement is between the builder and the end user. Builder develops a piece of land and constructs some units on that land. Builder generally offers heavy discounts on sale of units at the time of construction so that builder does not have to invest more and more money. It also gives a security for sale of units for builder. On other hand end users get discounts and profits on there investments. On the Other hand Collaboration Agreement is the agreement between the land owner and builder. Land owner invest his land and builder invest money for construction. Then Builder sells his space to end user and Owner can either use it or sell it to end users.
Collaboration Agreement is an agreement between land owner and builder. It contains the description of property. It also contains the intended maps and plans of construction. It also contains the material used by the builder. It also contains the consideration amount if any. It also contains the sale clause. It also contains the final date for handing over the project.
Registration of Under Construction Property is very sensitive matter. It helps in smooth working and healthy relations between consumers and builder. The main role in Registration of Under Construction Property is the draft of sale documents. It is always recommendable to finalize the draft with the help of professionals. Small investment in drafting can save your cores of money.
1. Photograph
2. Property Papers
3. Aadhar Card
4. Deed
5. Stamp Duty
6. Appointment Letter