Built up Area is the actual used area of an apartment, it comprises of carpet area plus the thickness of outer walls and the balcony.
It is clarified that the Completion Date as specified in this Agreement is the maximum time which may be taken, subject to prevention on account of Force Majeure Events, for the completion of construction and the issuance of Offer of Possession Letter to the Purchasers.
The possession letter is issued by the developer in favour of the buyer stating the date of possession of the property.
Deed of conveyance is a document that a seller issues to the buyer, thereby transferring the ownership of the property. The execution of the document takes places after construction is complete, completion certificate is received and all the different terms and conditions present in the sale agreements are fulfilled.