An allotment letter from builder is a document that confirms the allocation of a property or a unit to a buyer. It contains the details of the property, such as the location, size, floor plan, price, payment schedule, and possession date. It also specifies the terms and conditions of the agreement between the builder and the buyer.
An allotment letter from builder is a formal letter that should be drafted in an official way. It should be duly dated, stamped, and signed by the authorized person of the builder. It should also include the following information:
The name and address of the builder and the buyer
The reference number of the booking or application form
The description of the property or unit allotted
The total cost of the property or unit and the amount paid by the buyer
The balance amount payable by the buyer and the payment schedule
The expected date of possession and delivery of the property or unit
The cancellation policy and penalty clauses in case of default or delay by either party
The dispute resolution mechanism and jurisdiction in case of any legal issues
An allotment letter from builder is an important document that serves as a proof of booking and allotment of a property or unit. It also helps in securing a home loan from a bank or a financial institution. Therefore, it is advisable to read and understand the contents of the allotment letter carefully before signing it.
If you are looking for a sample allotment letter from builder, you can download one from here[^1^]. You can also customize it according to your needs and preferences.
Once you receive the allotment letter from builder, you should acknowledge it and confirm your acceptance of the terms and conditions. You should also keep a copy of the allotment letter for your records and future reference. You should also follow up with the builder regularly to get updates on the progress and status of the construction and development of the property or unit.
In case you have any queries or concerns regarding the allotment letter or the property or unit, you should contact the builder and seek clarification. You should also inform the builder in writing if you want to make any changes or modifications to the property or unit, such as the layout, design, fittings, fixtures, etc. However, you should note that such changes may incur additional costs and may affect the delivery schedule.
An allotment letter from builder is a crucial step in the process of buying a property or unit from a builder. It signifies that the builder has accepted your booking and has allotted a specific property or unit to you. It also lays down the terms and conditions of the agreement between you and the builder. Therefore, you should read and understand the allotment letter carefully and comply with its provisions. 061ffe29dd