Developer (General) : Sale of Project

Q1: What must I include in an advertisement for the sale of the development?
Q2: How much booking fees am I allowed to collect from interested purchasers for uncompleted projects?
Q3: Can the Option be given to a nominee of the purchase?
Q1: What must I include in an advertisement for the sale of the development?

The advertisement must include the following:

1) the housing developer's name and license number

2) tenure of the land and any encumbrances

3) lot number and the Mukim/Town Subdivision number

4) building plan approval number

5) date of the building plan approval.

6) expected date TOP date

7) expected date for the legal title to be conveyed to purchasers

Q2: How much booking fees am I allowed to collect from interested purchasers for uncompleted projects?

The booking fee is between 5%-10% of the purchase price of each unit in the development.

 

Q3: Can the Option be given to a nominee of the purchase?
No, the option can only be given to the intending purchaser and not his nominee.


 
 
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