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What legal remedies are available for breach of a property sale agreement in Delhi?

What legal remedies are available for breach of a property sale agreement in Delhi?

Published At July 11, 2024

Answer

When a party breaches a property sale agreement in Delhi, there are several legal remedies available for the party.

  • Specific Performance: This remedy involves a court order compelling the defaulting party to fulfill their contractual obligations. Specific performance is often granted when the property in question is unique and monetary compensation would not be sufficient.
  • Damages: The non-breaching party can seek compensatory damages for the financial losses suffered due to the breach. These damages aim to cover the direct losses and restore the  party to the position they would have been in if the breach had not occurred. 
  • Cancellation and Rescission: The party may cancel the property sale agreement Delhi and seek to cancel the contract. This effectively nullifies the agreement and aims to return both parties to their pre-contractual positions.
  • Suit for Price: If the buyer fails to make the agreed payment, the seller can file a suit for the price of the property. This legal action compels the buyer to pay the agreed amount as stipulated in the contract.
  • Retention or Refund of Advance Payment: If an advance payment was made, the non-breaching party can either retain or demand a refund of this amount. This depends on whether the defaulting party was the buyer or the seller.
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