We are in agreement with a builder for our property which is slum declared.
Now the deal is he has offered us a part amount and a Flat in the saleable building which will be constucted under SRA scheme.
Now he has sent the papers to be signed which consists of a conveyance deed and a power of attorney which is irrevocable.
The conveyance deed clearly mentions the amount he is giving now and the flat that he would give when the building is contructed. Just want to know if we can go ahead with such a deal and sign the papers?
The power of attorney gives him all the rights to apply with various authority and is irrevocable.
Incase for some odd reasons if he is not able to construct the saleable building and give us the flat would we have any legal right to fight back for our property as he has failed on his promised committment?
Please guide me.