Hello , I happened to enter into REGISTERED AGREEMENT with Builder developer in May 1996 , where by he was suppose to give possession in Dec 2007. Subsequently the FOREST ISSUE ( In State of Mahrashtra , Mulund-Thane) cropped up , which was later cleared by Supreme court. Developer obtained required permission and has opened the project in Jan 2010 for booking. He assigned the project to sister company. He is now asking for amendment of agreement and ESACALATION BY Rs 750/ sq feet.He has included material cost and labor cost in escalation ant not only the amount he has to pay for forest issue. His stand as per discussion is that , at time of agreement TITLE OF LAND WAS CLEAR . Govt came with particular problem after agreement , so he is not responsible for the mess. As such no clause has been put up in agreement regarding the ESCALATION. I wish to know:
1. Is escalation in such case legally permissible ?
2. Is is mandatory on my part to accept amendment OF the agreement ?
Nitin Gore
