The builder-buyer agreement (now formally the "Agreement for Sale" under RERA) is the document that actually governs your rights and the developer's obligations — far more than the brochure or sales conversation that got you interested in the first place. It deserves careful reading, not just a signature.
**Possession date and penalty clause.** Under RERA, the agreement must specify a clear possession date, and delays beyond that date entitle you to compensation (typically calculated as an interest rate on the amount paid) or, in cases of prolonged delay, a refund option. Check that this clause exists clearly and matches what RERA mandates — don't accept vague language around timelines.
**Payment schedule tied to construction milestones.** For under-construction properties, payments are typically linked to defined construction stages (foundation, slab completion, brickwork, finishing, possession). Verify the schedule is genuinely milestone-linked rather than front-loaded disproportionately toward early stages, which shifts risk unfairly onto the buyer.
**Carpet area specification, not just super built-up area.** As covered in a separate guide, RERA mandates carpet area disclosure — confirm the agreement states carpet area explicitly and specifies what happens (typically a proportional refund) if the actual delivered carpet area is smaller than what was agreed.
**Specifications and fittings annexure.** A detailed annexure listing exact fittings, brands (or equivalent-grade specifications), flooring materials, and finishes protects you from receiving a lower-specification delivery than what was marketed. Vague language like "premium fittings" without specifics offers little actual protection.
**Cancellation and refund terms.** Understand what happens if you need to exit the agreement — refund timelines, any deduction percentages the developer is entitled to retain, and interest (if any) on the refunded amount. These terms vary and are worth negotiating if they seem unusually unfavourable compared to standard market practice.
**Common area and amenity commitments.** If specific amenities (clubhouse, particular landscaping, specific common facilities) were part of your decision to buy, ensure they're documented in the agreement, not just verbally promised or shown in marketing renders — renders and reality can diverge, and only documented commitments carry contractual weight.
**Maintenance handover terms.** Check how and when the project transitions from developer-managed maintenance to resident association-managed maintenance, and what the maintenance charge structure looks like during the interim developer-managed period.
**A strong general practice:** have a property lawyer review the agreement before signing, even if it takes a few extra days — this is a legally binding document for a major financial commitment, and a lawyer's review is genuinely inexpensive relative to the risk it protects against.
Lanivas Properties can connect you with property lawyers experienced in reviewing Kolkata builder-buyer agreements before you sign — reach out before, not after, you've committed.