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I am currently in discussions to purchase a flat that falls under the landowner’s share. I checked with the builder regarding the sale agreement and was informed that the agreement will be executed only between two parties — the vendor (landowner) and the buyer (myself).
However, I have a few concerns:
Since the landowner is only selling the flat and the builder is responsible for construction, amenities, and overall project delivery, how will key aspects like construction quality, timelines, penalties for delays, and promised amenities be legally enforced?
If the builder is not a direct party to the sale agreement, on what basis can I hold them accountable for these obligations?
The builder has mentioned that:
They will provide an NOC for the transaction, and
They will be part of a tripartite (or quadripartite) agreement during the home loan process involving the developer, landowner, bank, and myself
I would like to understand whether this is a standard and legally safe practice. Has anyone dealt with a similar situation, and are there any risks or additional safeguards I should consider?
If you want, I can also sharpen this further into a slightly more assertive version that nudges the builder or lawyer to give clearer commitments instead of vague assurances.
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