Q:
I have some doubt in Builder Buyer Agreement of Signature Global Grand IVA project. I am asking below questions since 28th July'16 but they are not giving reply.
Point 3.6: "the Allottee agrees that the Developer shall be liable only to refund the amount received from him/her without any interest or compensation whatsoever".
Question: Developer is charging @ 15% per annum from due date, if Allottee does not pay any demand on time. Is there any penalty clause on Developer, if Developer not able to deliver the flat in 48 months without any FORCE MAJEURE mentioned in the Agreement?
Point 3.7: "The Allottee, before taking possession of the said flat, shall completely satisfy himself regarding the construction, facilities and amenities in respect thereof and hereby agrees not to raise to any dispute on such account thereafter, either individually and/ or by joining as member(s) in the society/association and or otherwise, in any capacity. The Allottee, after taking the possession of the Said flat, shall make no claim against the developer in respect of any item of work in the Said flat, which may be said not to have been carried out or for non - compliance or any design, specifications, building materials or any other reason whatsoever or on account of any Common Services and Facilities".
Question: How can I assure that Developer would not compromising with quality of construction (internal as well external of flat), facilities and amenities? Who will be responsible for quality check of materials as well as construction, facilities and amenities?
Point 4.3: "The charges for providing external electrification, electric wiring in the said flat, firefighting measures/equipment in the common areas as prescribe in the existing firefighting code/regulation and power backup, shall be payable by the Allottee in addition to the basic Total Cost, as prescribe herein."
Question: What would be the total or near about cost because noting is mentioned about the cost in agreement?
Point 7.6: "The Insurance of said Unit as well as the interior/contents inside the said Unit shall be the responsibility of the Allottee(s) and Developer shall not, in any case, be held liable for any damage or loss occurred on account of any theft, loss, neglect or omission of the Allottee(s) in the regard".
Question:What would happen, if internal plaster start creating problem. seepage in the said Unit. few months after possession because, as per point
number 3.7, I can't check construction and material quality before and after the possession?
Point 23:
Question: Does it means that I can't choose Arbitrator and Arbitrator decision shall be final and binding upon the parties (Allottee and Developer)? It is very much possible that I would not be satisfy with Arbitrator's decision because Developer will only choose the Arbitrator. What would happen, if I am not satisfy with Arbitrator's decision?
