(1)  The developer under a staged development scheme warrants to any person who enters into a contract to purchase a lot or a proposed lot in the scheme that the development will be carried out in accordance with the scheme.

(2)  A warranty under subsection (1)  –

(a) is enforceable in the same way as a contractual warranty; but

(b) cannot be limited or excluded by contract.

(3)  Without limiting the damages that may be recovered for breach of the statutory warranty, the owner of a lot may recover damages for the deferment or loss of a reasonably expected capital appreciation of the lot that would have resulted from completion of the development in accordance with the terms of the scheme.