‘Model builder-buyer’ agreement needed, says Supreme Court

The court was hearing a petition filed by an advocate on the lack of a ‘uniform or model’ form for agreements entered into between builders, agents and buyers.

The Supreme Court on October 4 stepped in to protect home buyers from exploitation by builders, who delay transfer of possession and often re-draft delivery schedules on their whim and fancy.

A Bench of Justices D.Y. Chandrachud and B.V. Nagarathna issued notice on a petition filed by advocate Ashwini Kumar Upadhyay on the lack of a “uniform or model” form for agreements entered into between builders, agents and buyers.

The absence of “model builder-buyer and agent-buyer” agreements which provide uniform or standard terms and conditions of sale and purchase of residential flats across the country has been the main cause behind the fraud, lack of transparency, criminal conspiracies and unfair and arbitrary trade practices which plague the real estate sector.