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The MOU Between Builder And Purchaser serves as a crucial preliminary document in Indian real estate transactions, establishing the initial framework for property purchase before the execution of the final sale deed. This document is particularly relevant in new construction or off-plan property purchases, where the final property transfer may occur months or years after the initial agreement. It needs to comply with the Real Estate (Regulation and Development) Act 2016 (RERA) and other applicable Indian property laws. The MOU typically includes detailed specifications of the property, payment schedules, construction timelines, and various obligations of both parties. While not as legally binding as the final sale deed, this document forms the basis for the eventual property transfer and helps protect both parties' interests during the construction and transfer process.

1. Parties: Detailed identification of the Builder/Developer and the Purchaser with complete contact information and registration details

2. Background: Context of the agreement, including brief description of the project and the parties' intention to enter into a purchase arrangement

3. Definitions: Key terms used throughout the MOU defined for clarity and precise interpretation

4. Project Details: Specific details of the property development including location, RERA registration number, and approved plans

5. Property Description: Detailed description of the specific unit/property being purchased including area, floor, specifications

6. Consideration and Payment Terms: Purchase price, payment schedule, and mode of payment

7. Timeline and Possession: Construction timeline, completion date, and possession terms

8. Builder's Obligations: Responsibilities and commitments of the builder including construction quality, amenities, and compliance

9. Purchaser's Obligations: Responsibilities of the purchaser including timely payments and cooperation

10. Representations and Warranties: Statements and assurances by both parties regarding their capacity and authority

11. Default and Consequences: Events of default and remedies available to either party

12. Term and Termination: Duration of the MOU and conditions for termination

13. Governing Law and Dispute Resolution: Applicable laws and mechanism for resolving disputes

14. Notices: Process and addresses for formal communications between parties

15. Miscellaneous: Standard boilerplate provisions including severability, entire agreement, and amendments