Real Estate - Construction:

Construction law deals with the agreement and dispute between the builder and owner of the property. Construction may be for different purposes, to build up a house, shop, apartments or to renovate any building, or to do some repair work.

There may arise several issues between the builder and the owner of the property during the construction or after the completion. In order to safeguard both parties’ interests, consult a Real Estate attorney before entering into an agreement for construction or renovation of a property.

Builder:

If you want to construct a property, first of all, you have to select the builder. The builder should be an experienced person. You have to see whether the builder has any prior experience in the construction field and whether any claims lie against him. After selecting the builder, you have to make an agreement for the construction of your building. If you select an experienced builder, you can avoid heavy damages to the property like crack, crisp etc.

Agreement:

If you want to construct your property, make an agreement with the builder. The agreement shall consist of the following:

• names and addresses of the parties
• location and area to be constructed
• cost of foundation, building, and the roof
• cost of compound wall
• cost of swimming pool, gymnasium etc. Generally, the cost will be calculated per square feet.
• duration taken to complete the work
• payment terms

If you want to renovate a building you have to mention the portion to be renovated and the cost of such renovation.

You have to state in the agreement that if the construction work is not completely done by the contractor you can withhold the payment.

Owner Rights, Dispute and Insurance