Agreement For Construction Of House With Material In India

16. If, in the architect`s opinion, the work carried out by the contractor is unsatisfactory or if progress is slow or if it is likely that the contractor will not be able to complete the work on time, the owner has the right to announce the contract at the risk of the contractor by having 15 days if he has the right to award the contract to the agencies. the costs it deems appropriate and the costs incurred in that account and certified by the architect are deducted from the money owed by the holder or recovered by the contractor. 18. The owner, who retained ownership of the land, only allowed the contractor to enter the property for the purpose of building. Subsequently, the owner has the right, at any time, to enter and exercise freely all property and deeds of ownership in the above dwelling area. CONSIDERING that the first part is the owner of the land admeasuring………………. no……….. City survey no………………. Khasra No…………… lie, lie down and ……………… Tahsil and district……………. (hereafter referred to as “land in question” and wants to build a house on the land in question.

The owner provides a temporary electrical connection, all taxes on electricity and water during construction are borne by the owner. If you want to rent or resell your property after the work is completed, create a custom rental contract or a real estate purchase agreement. Owners can protect themselves from construction delays with a compensation clause liquidated in their contract. Damage liquidated is a determined amount per day that the contractor pays to the owner for each day the construction is delayed. Instead of suing the court for damages, the owner and contractor may agree in advance for an amount of liquidated damages. 7. The tax on construction contracts, if any, is included in the rates indicated in Part 2 (quantity accounting) of this agreement. All unpublished articles are calculated based on the actual profit of 15% The success of the construction depends on clearly defined expectations and schedules. Errors or delays have negative effects on both homeowners and contractors, resulting in additional costs for homeowners, who cannot use the property for the intended purpose on the scheduled date and result in additional work and equipment costs for contractors. Benjamin Franklin said, “Time is money.” Whichever page you`re on, reduce construction time by having a clear plan with this document.