TERMS & CONDITIONS FORMING PART OF THE APPLICATION FOR ALLOTMENT OF A RESIDENTIAL APARTMENTThe broad terms and conditions for allotment of the unit is as mentioned below:
The Applicant has applied for the allotment of a Unit by paying the booking amount after reading and understanding the terms and conditions of this Application. Subscribing to the application by the Applicant/s amounts to deemed acceptance of all the terms and conditions specified herein.
The Applicant cannot claim any right or interest in the Unit merely by subscribing to the application for allotment. The Allotment of the Unit is entirely at the discretion of XXXXXXXXXXX (Company). In case of non-allotment, Booking Amount paid will be refunded without interest.
The booking amount constitutes a minimum of 10% of the Agreement value of the unit.
Company reserves the right to cancel the allotment and forfeit monies paid if the amounts are not paid as per the terms of booking and / or if the amount paid by cheque is dishonoured for non-availability of funds or for any other reasons, and / or suppression of information / wrong information of any information which is required to be provided at the time of booking resulting in a violation by the Applicant. In case the Applicant desires to withdraw the booking, the cancellation amount will be charged as a combination of (as applicable)
Agency Commission, brokerage,
any Government, levies paid by company,
Stamp duty charges paid to buy stamp paper for the agreements apart from the booking amount.
Post cancellation as per above clause, the balance (if any) will be refunded to the applicant within 45 days without any interest thereon. The Applicant has given his / her / their consent for such forfeiture.
All payments are subject to the receipt and realisation.
The Applicant shall enter into definitive agreements with the company within 30 (thirty) days from the date of allotment letter. In case this is not done, the allotment of the Unit will be deemed as cancelled without any further notice unless the Company agrees to extend the timeline for execution of the definitive agreements at its sole discretion.
The Carpet Area of the Unit, its specifications, sale plan, handing over date, facilities, rights and obligations of the Purchaser etc., shall be more clearly defined in the definitive agreements.
The Applicant confirms and represents that he / she / they has made payment to the Company only towards the Unit and that he / she / they shall not have any claim of any kind whatsoever in any other development undertaken by the Company within the Project.
Statutory expenses like stamp duty & registration charges for agreements and registering the property, additional stamp duty, if demanded by the Special Dy. Commissioner, undervaluation of stamps will have to be borne by the Allottee. GST as applicable, increase in existing tax levies and any fresh Governmental levies, applicable during the contract period shall be met by the Allottee.
The Price list is subject to change from time to time at the sole discretion of the Company and the price as prevalent on the date of submitting the Application along with the booking amount shall prevail. The price shall be confirmed by the Company when the allotment letter is issued.
The Applicant cannot claim shifting of the booking within the project / any other project of the Company, unless the Company specifically agrees for the same, and subject to such charges as may be leviable in this regard.
The transfer of the booking to a third party can be allowed only after the Applicant enters into the definitive agreements. The transfer will be allowed solely at the discretion of the company, subject to a transfer fee payable based on the prevailing rates as prescribed and execution of necessary documents acceptable to the Company.
The car park(s) allotment will be done on a first come first serve basis by the Company. Allotment of additional car parks is subject to availability and will be done on first come first serve basis.
Alterations to the Building Plan: The Applicant has seen and accepted the plans, design and specifications and the Applicant authorises the Company to effect suitable and necessary alterations / modifications in the layout plan / building plans, designs and specifications as the Company may deem fit or as may be directed by any competent authority / (ies).
Dimensions and details provided in the accompanying literature are approximate and are subject to alteration without notice.
This booking is subject to acceptance by Company in writing, and the receipt passed for money does not constitute allotment.