The Post Possession Agreement is a specialized document used in Indian real estate transactions after the physical handover of property from developer to buyer. It becomes necessary when there are pending works, ongoing obligations, or specific arrangements that need to be formalized after possession. This agreement type is particularly relevant in the context of the Real Estate (Regulation and Development) Act, 2016 (RERA), which mandates clear documentation of post-possession responsibilities. The document typically covers aspects such as completion of pending works, defect liability periods, maintenance arrangements, and utility connections. It's essential for both residential and commercial properties, providing legal protection to both parties and ensuring clarity on post-possession obligations and timelines.
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1. Parties: Details of the developer/seller and buyer/occupant including full legal names, addresses, and registration details
2. Background: Context of the agreement including reference to the original sale deed, completion of construction, and handover status
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Comprehensive description of the property including unit number, floor, carpet area, and super built-up area
5. Possession Confirmation: Declaration of physical possession transfer and completion of handover formalities
6. Pending Works: List of any pending works or finishing touches to be completed post possession
7. Defect Liability: Builder's obligations regarding repairs and maintenance during the defect liability period
8. Utilities and Connections: Status and responsibility for utility connections including electricity, water, and gas
9. Society Formation: Details about formation of society/association and transfer of common areas
10. Payment Terms: Any remaining payments or adjustments to be made post possession
11. Representations and Warranties: Statements and guarantees made by both parties
12. Governing Law and Jurisdiction: Applicable laws and courts having jurisdiction over disputes
13. Dispute Resolution: Process for handling disputes including mediation and arbitration procedures
1. Parking Allocation: Details of parking space allocation when parking is included in the agreement
2. Maintenance Services: Terms of maintenance services if provided by the developer post possession
3. Club House Facilities: Access rights and terms for using club house facilities where applicable
4. Additional Amenities: Terms regarding any additional amenities or facilities provided
5. Modification Rights: Terms regarding permitted modifications to the property by the occupant
6. Insurance: Insurance requirements and responsibilities if specifically agreed upon
7. Environmental Compliance: Specific environmental obligations where required by local regulations
1. Schedule A - Property Description: Detailed technical description of the property including boundaries and measurements
2. Schedule B - Inventory List: List of fixtures, fittings, and amenities provided with the property
3. Schedule C - Pending Works: Detailed list of pending works with completion timelines
4. Schedule D - Payment Details: Breakdown of any pending payments or adjustments
5. Schedule E - Defect Liability Items: List of items covered under defect liability and their warranty periods
6. Appendix 1 - Property Plans: Floor plans and layout drawings of the property
7. Appendix 2 - Handover Documents: Copies of completion certificate, occupancy certificate, and other relevant permits
8. Appendix 3 - Maintenance Agreement: Detailed maintenance terms and service level agreements if applicable
Relevant legal definitions
Clauses
Relevant Industries
Real Estate Development
Residential Property
Commercial Property
Property Management
Construction
Facility Management
Urban Development
Relevant Teams
Legal
Real Estate Development
Property Management
Facilities Management
Construction Management
Compliance
Customer Relations
Operations
Quality Control
Project Management
Relevant Roles
Real Estate Developer
Property Manager
Legal Counsel
Facility Manager
Construction Manager
Property Lawyer
Compliance Officer
Project Director
Sales Manager
Customer Relations Manager
Operations Manager
Site Engineer
Quality Control Manager
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