Legal Question in Real Estate Law in India

Our society had entered into a Development Agreement with the developer in Mumbai.As per the terms therein, the developer had to complete the documentation work and obtain I.O.D. within 3 years. failing which, the agreement would stand terminated.The period of 3 years has elapsed and the developer has failed to obtain the I.O.D. The society has agreed to give an extension of 6 months to the developer to obtain the I.O.D.What is the procedure to give the said extension to the developer? Will the society have to make a fresh agreement?

Asked on 3/19/13, 12:24 am

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dear client...

No need for fresh agreement you can mention the same in the agreement it self...

For detail contact me at [email protected]

Answered on 3/19/13, 3:44 am

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