Developers
/ promoters will not be allowed to
cancel an agreement for sale unless they have sufficient cause to do so.
Says
Mr. Ganesh Vasudevan, CEO, Indiaproperty.com: The developer / promoter will
need to give due notice to the parties to the agreement. He will also have to
refund the amount collected along with interest, as prescribed.
Moreover,
in case there is a major structural defect or / deficiency in the development
or / services offered and this is brought to the developers notice within one
year by the buyer, the developer will have to rectify those defects without
levying further charges.
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