Our locality is being developed under SRA Scheme in 2 parts. The first part, building is nearing completion (it has taken 12 years). Proposal is to start the construction for second part. We are in occupation of shop which is in the second part and have been asked to vacate it. We have been promised advance rent payment of 6 months and access to one of the shop in the under construction building, to keep our goods. Builder expects the work to get completed within 6 months. Till that time an agreement will be executed and notarised. Subsequently, when the construction is completed and OC is received, shop will then be registered by paying the stamp duty.
Need advise on safeguarding our interest as builder has not been able to complete the work on time and has been erractic in making rent payment to other members of the society. Should we get the agreement notarised or should we request the builder to execute agreement and pay the stamp duty
