Tardeo Builder Agreements Decoded: What to Check Before Signing at ₹10–27 Crore

You're signing a ₹21 Cr builder-buyer agreement for a 4 BHK at MICL Aaradhya Avaan in Tardeo — with a December 2030 possession date. The document runs 68 pages. Your lawyer skims it in 30 minutes and says "looks fine." This is how buyers lose crores when possession gets delayed, floor plans shift, or developers add charges that weren't in the brochure. This guide breaks down every clause that matters, specifically for Tardeo's three active ultra-luxury projects.

Step 1: Verify RERA Registration Before Everything Else

Maharashtra RERA (MahaRERA) mandates registration of all projects with more than 8 units or more than 500 sqm of land. All three active Tardeo projects are registered. Verify registration independently at maharera.mahaonline.gov.in — do not rely on the developer's RERA certificate alone. Check three things on the RERA portal:

• RERA number matches the project name and developer name — MICL Aaradhya Avaan should show MICL Group as developer
• Quarterly progress reports are current — a project that hasn't filed a QPR in 6 months is in violation and a red flag for cash flow issues
• Encumbrances and litigations tab is clean — any pending consumer court complaints or RERA complaints appear here
• Escrow account is named and funded — 70% of buyer funds must be in a project-specific escrow account, accessible only for project-related expenses

The Possession Date Clause: Your Most Important Protection

RERA Section 18 entitles buyers to a full refund with interest (currently pegged at SBI MCLR + 2%) if the developer fails to deliver possession by the RERA-registered date. For Tardeo's projects, the possession dates are November 2028 (Lodha Marq), December 2030 (MICL Aaradhya Avaan), and June 2027 (The Stardeous). The builder-buyer agreement must explicitly state:

• The possession date as registered with MahaRERA
• A grace period (typically 6 months) after which RERA Section 18 rights kick in
• Compensation at the RERA-prescribed rate for each month of delay beyond the grace period
• The buyer's right to exit with full refund + interest if delay exceeds 12 months

Watch for clauses that define "possession" as "offering the flat for inspection" rather than "receipt of Occupation Certificate." The OC is the legal document proving the building is fit for habitation. A flat offered without OC cannot be legally registered — and some developers offer possession letters without OC for years in Mumbai. Insist your agreement defines possession as OC-received possession only.

Carpet Area Guarantee: The Clause That Protects Your ₹70,000/Sqft

At ₹71,000-₹90,000 per sqft (Lodha Marq 3 BHK carpet pricing), a 2% variation in carpet area means ₹17-27 lakh. RERA mandates that builders sell only on carpet area (not super built-up area), and that any variation exceeding 3% from the promised carpet area entitles the buyer to a proportionate price adjustment or exit. Your agreement must:

• State the carpet area in square feet as per RERA definition (excluding external walls, balconies, open terraces)
• Commit to adjustment of final payment if actual carpet area deviates by more than 3% in either direction
• State that the floor plan attached to the agreement is the final approved plan — not an indicative plan

The 11 Charges That Should Not Be in Your Agreement

Ultra-luxury developers are increasingly adding charges post-booking that inflate the all-in cost by 8-15% beyond the headline price. At ₹20 Cr, that is ₹1.6-3 Cr of surprise costs. Scrutinise these specifically:

The Supplementary Agreement Trap

Section 14 of RERA Maharashtra prohibits developers from making material changes to the project — floor plan alterations, amenity reductions, changes to common areas — without buyer consent via a supplementary agreement. However, the first agreement often contains a clause like: "The developer reserves the right to make reasonable alterations to the project at its discretion." This clause directly contradicts RERA Section 14 and should be struck out.

At Lodha Marq's price points — where a sea-view unit at ₹24.43 Cr commands roughly ₹89,984/sqft — any change to the approved floor plan or tower configuration could materially affect the unit you purchased. Ensure your agreement explicitly states that no changes will be made to your specific unit without written consent.

Allotment Letter vs Agreement to Sell vs Sale Agreement: Don't Confuse Them

Three documents are issued in sequence. The allotment letter confirms your booking but is not a legal contract. The Agreement to Sell (executed within 2 months of booking as per RERA) is the first binding document — it must be registered at the sub-registrar's office within 4 months. The Sale Agreement (executed at possession) is the final transfer document. NRIs and first-time ultra-luxury buyers sometimes confuse an allotment letter for a registered agreement — they are not the same thing, and you have no RERA protection until the Agreement to Sell is registered.