A flat is usually the largest purchase a family makes, and the document that governs it is often read in the shortest time. The brochure gets an evening of study. The agreement gets a quick signature at the developer's office, with a sales officer turning the pages. That order is backwards, and it is where most flat disputes begin.
The Real Estate Development and Management Act 2010 sets the frame. A developer must be registered with the relevant authority, RAJUK in Dhaka, before running a real estate business, and it cannot advertise, sell or sign a sale agreement until the project is approved and it has the right to execute transfer deeds. The agreement itself must be in writing, payment must go through a bank, and the developer must hand over possession and register the deed within three months of full payment.
What area are you actually buying?
Start with the size. The agreement should state the flat's area in square feet, and the buyer should know which area it is. Carpet area is the floor space inside the flat where a carpet can be laid, excluding the walls. Built-up area adds the walls and balcony. Super built-up area adds a share of the common spaces: the lobby, lifts, stairs and similar areas. Carpet area can be 15 to 30 percent less than super built-up area, which is why two flats quoted at the same size can feel very different.
Ask for the carpet area in writing, and ask how the common-area share was calculated. If the agreement mentions only one figure, find out which one it is. A flat measured on handover day should match what was promised, and a shortfall the buyer only discovers on moving day is far harder to fix than one caught in the agreement.
The payment schedule is the real contract
The payment schedule deserves more attention than the headline price. It should tie each instalment to a stage of construction, so money follows visible progress: a booking amount, then payments at foundation, at each floor slab, at plastering, and the final amount at handover. A schedule that demands most of the money before the structure rises puts the buyer at risk. A schedule linked to progress gives the buyer a reason to visit the site and check.
Read the late-payment clause from the developer's side as well as your own. What happens if the buyer is a month late, and what happens if the developer is a year late? Both should be in the document, in figures, not in general promises.
The handover date, and the price of missing it
The handover date should be a date, not a season. The agreement should state it plainly, and then state what follows if it passes. The Act expects compensation for delay, and a well-drafted agreement sets the rate: a monthly amount, or a rent equivalent, running until handover. The REHAB code of business conduct, which member developers follow, goes further in its own terms: if a member fails to hand over within a year of the scheduled time, the buyer can seek a full refund with interest at the fixed deposit rate.
Two details matter here. One is the grace period, the extra months the developer is allowed before the delay clause starts. The other is whether the developer can change the design, size or common facilities without the buyer's written consent. Under the Act it cannot, but the clause should say so in the agreement itself, so there is no argument later.
Cancellation, registration and the small print
Cancellation terms are read only when they are needed, which is too late. Check what the buyer loses on cancellation at each stage, and how long a refund takes. Check who pays for registration, and who is responsible for getting the deed registered. The developer must register the deed within three months of full payment, but the cost of stamp duty, registration fee and taxes should be agreed in advance, not discovered at the sub-registry office.
The specifications list is the other document inside the agreement: the fittings, tiles, sanitary ware, lift brand and generator capacity. Vague words like good quality or standard fittings are not specifications. Brand names and models are. If the brochure promised something the agreement does not mention, the agreement is what counts.
This article gives general information only. It is not legal advice. A buyer should have a lawyer read the agreement before signing.
