Checklist for Joint Ventures
Here are some valued facts to be confirmed before giving a Land for Joint Promotion:
- Check whether the Promoter is reputed.
- Check the Promoter’s Financial Background
- Verify whether the flats promoted by the Builder are 100% deviation free.
- Check whether the Promoter follows Quality practices in construction.
- Verify whether the entire undivided share of land has been transferred by the Promoter to the Buyers.
- Check if the Promoter is Transparent and Promises Clear Documentation.
- Check whether the Promoter is providing a Penalty clause in the Agreement
- Stilt car parking area cannot be converted into commercial / residential space- It is a deviation
- Check whether the dimensions mentioned in the CMDA Approved Building plan and the Actual building plan are the same.