🏗️ Hidden Clauses in Builder-Buyer Agreements You Must Know
Buying a flat or an apartment in Karnataka , whether in Bengaluru, Mangaluru, or Udupi, involves signing a Builder-Buyer Agreement . While it may seem like a routine step, many such agreements contain hidden clauses that can jeopardize your rights as a homebuyer. These clauses, if unchecked, may lead to legal complications , financial losses , and delayed possession . Let’s uncover the most common hidden clauses found in builder-buyer agreements in Karnataka and understand how to protect yourself legally. 📜 What is a Builder-Buyer Agreement? A Builder-Buyer Agreement is a legal contract signed between a developer (builder) and the buyer of a residential unit. It outlines the payment schedule , construction milestones , amenities , possession timelines , and legal remedies . In Karnataka, such agreements are governed by: The Real Estate (Regulation and Development) Act, 2016 ( RERA ) The Indian Contract Act, 1872 Karnataka Real Estate Rules, 2017 ⚠...