Except as otherwise provided in the purchase agreement, the builders carrying out construction work worth more than ten lakh rupees shall insure the following:-
(a) Cost of complete replacement of construction work including construction materials, machinery, tools or plant used Explanation: For the purpose of this clause, “cost” includes profit.
(b) professional fees, expenses incurred for demolishing, removing any part of the construction work and removing damaged or wasted materials, including expenses incurred in case of loss or damage, or incidental expenses related thereto fifteen percent of the replacement expenses as per clause (a) or Additional amount as stated in the purchase agreement,
(g) Sufficient amount required to replace the equipment and other items brought by the construction worker to the construction site,
(d) All loss and damage caused to any section or part of the construction work from the date of handover of the construction site to the builder till the date of issue of handover certificate, except for the reason mentioned in sub-rule (2),
(e) The following responsibilities of the builder:-