TERMS AND CONDITIONS
TERMS AND CONDITIONS FOR REGISTRATION & REFUND / CANCELLATION POLICY
1) The applicant has applied for the registration of the commercial unit, shop, Showroom and Office with knowledge and subject to all the laws, notifications and rules applicable to this area, and this project which have been explained by the developer and understood by him.
2) The applicant has fully satisfied himself about the interest and title of the developer in the said land and understands all limitations and obligations in respect of it, and there are no objections by the intending applicant in this respect.
3) The applicant has accepted the plans, designs, specifications hereby agree that the developer may affect such variations, additions, alterations, deletions and modifications therein as it may, without any prior notice to applicant and in its sole discretion deem appropriate and fit, or as may be done by any competent authority and the intending applicant hereby gives consent for such variations / addition / alteration / deletion and modifications and the developer shall be entitled to do so without any objection or claim from the applicant.
4) Company Can Change the Plan, Layout & unit if required.
5) If the company, due to any reason, is not in a position to allot the unit applied for, the company shall be responsible to consider for an Alternate Unit and in case failure to do so, shall refund the amount deposited without any interest and company shall not be liable for payment of any compensation on this account whatsoever.
6) Incomplete Booking Forms, in terms of Personal Details or 10 % Booking Amount (within 10-15 days of Application) can result to Rejection of Booking or prevailing rates will be applicable.
7) The final allotment is entirely at the sole discretion of the company and the company reserves the right to accept or reject an application without assigning any reason thereof.
8) If Allotment Amount is not paid within due mentioned period, it can lead to Cancellation of Provisional Allotment without any further notice and amount paid shall stand forfeited.
9) If Provisional Allotment is cancelled due to any reason, then its Company’s sole discretion to restore the same by applying Restoration Policy.
10) The developer may on its own provide additional improved specifications and/or facilities other than those mentioned in the specification sheet or sale brochures due to technical reasons or due to popular demand or for the reason of overall betterment of the complex/individual unit(s). The same shall be binding on the applicant and the proportionate cost of such changes shall be borne by the applicant.
11) The developer shall have the right to effect suitable and necessary alterations in the layout plan, if deemed necessary, which may involve all or any of the changes, namely change in the position of unit, change in its number, dimensions height, size, area layout or change of the entire scheme.
12) The intending applicant is entitle to get the name of his nominee substituted in his place with the prior approval of the developer, which may in its sole discretion permit the same on such conditions as it may deem fit.
13) Administration charges of Rs. 5000 + Service Tax will be applicable if any changes are desired by the applicant after Allotment.
14) Service Tax (as per Govt.) is applicable on Administration Charges, Restoration Charges, Transfer Charges or any other charges if applicable.
15) Cheque Clearance is Applicant’s Responsibility and if it is dishonored due to any reason whatsoever, Rs 300 will be charged towards cheque bouncing charges.
16) The intending applicant agrees that he shall pay the price of the commercial unit, shop, Showroom and Office and other deposits & charges on the basis of Super Built-up Area of his Commercial unit/shop and also pro-rata share of the common areas of the building and ancillary buildings. If there is any increase/decrease in the super built-up area the difference in consideration arising out of such increase/decrease shall be adjusted accordingly.
17) The intending applicant agrees to execute the Standard Sale/Sub-Lease Agreement when called upon to do so by the developer.
18) On the intending applicant: a. Not clearing all his dues along with interest @ 18% per annum for first 30 days and, thereafter, if default persist, interest 24% per annum compounded monthly within 60 days from the date the said amount became payable; and/or. b. Committing breach of any of the terms and condition herein contained; The developer shall be entitled at its own option to cancel and terminate this agreement. On cancellation, all right, title or interest of the intending applicant over the said unit shall stand extinguished and the intending applicant shall have no further right, title or interest over the said unit and the developer shall also be entitled to liquidate damages amounting to 10% of the total cost of the unit and overdue interest from the intending applicant. The developer after making such appropriation shall refund the balance amount, if any, to the intending applicant as the aforesaid deduction is deemed just, proper and reasonable by both the parties.
19) After the registration date, if there is any increase or revision in the external development charges, taxes, levies, where builder has got no control, the same shall be payable by the applicant(s)/ intending allotee(s)without any delay or demur as and when demanded by the company on pro rata basis.
20) In case the intending applicant gives a written notice to surrender the allotment: a. within a period of 30 days from the date of allotment, the developer shall cancel the allotment and refund the full amount received to the intending applicant within 120 days from the date of such cancellation; and b. after the abovementioned 30 days but within a period of six months from the date of allotment, the developer shall cancel the allotment and after deducting 10% of the cost of unit and the dues along with service tax and interest, if any, payable at the time of cancellation, refund the balance amount to the intending applicant within 120 days from the date of such cancellation. However, after expiry of six months from the date of this allotment in respect of the said commercial unit/shop, this clause shall automatically be deemed to have become inoperative and un-enforceable.
21) If Applicant wants to Transfer/ Sale the Unit before Sale /Lease Deed commencement, the transfer will be free of any charges if made upto the date of allotment of the unit and afterwards the developer will charge 2 % of the total cost of the unit as Transfer Charges and in case of Transfer after execution of Sale /Lease Deed then, it will incur charges of Rs.10,000 as Administrative Charges. These Charges can be varied/modified on the discretion of the Developers without any prior notice.
22) In case the applicant wants to avail the loan facility from his employer or financing institutions to facilitate the purchase of the unit applied for, the conditions of loan agreement shall exclusively be binding and applicable upon the applicant only. a. The terms of the financing institutions shall exclusively be binding and applicable upon the applicant only. b. The responsibility of getting the loan sanctioned and disbursed, as per developer’s payment schedule shall rest exclusively on the applicant. In the event of the loan not being sanctioned or the disbursement getting delayed, the payment to the developer, as per schedule, shall be ensured by the applicant.
23) The Sale/Lease Deed or any other document conveying the said Commercial unit/shop shall be executed and got registered in favor of the intending applicant within the reasonable time after the premises have finally constructed at the site and after receipt from him of full sale price and other connected and incidental charges. The charges/cost towards preparation of Lease/Sublease Deed, conveyance or conveyances, transfer deeds and any other document or documents required to be executed by the developer subject to maximum of Rs.10,000/- (Rupees Ten Thousand only), shall be borne by the intending applicant. Further, the stamp duty, registration charges and other charges if any, applicable at the time of registration in respect of the said unit shall be borne and paid by the applicant and that the developer shall not be liable to contribute anything towards such expenses so that the registration in respect of the allotted unit can be done with the concerned Registrar/Sub-registrar as per prevailing Law of the Government of Rajasthan.
24) On execution of the Sub Lease deed in favour of the applicant, the applicant, as Lessee will be bound by the terms of the Original lease deed executed by the developer.
25) All taxes or charges, present or future, on land or building levied by the statutory authority, from the date of this agreement including the urban Assessment /Ground rent payable to the authority shall be borne and paid proportionately by the applicant. Free hold conversion charges, if any will also be borne and paid by applicant proportionately.
26) The intending applicant shall get his complete address registration with the developer at the time of booking and it shall be his responsibility to inform the developers by registered A/D letter about all subsequent changes, if any in his address, failing which all demand notice and letters posted at the first registered address will be deemed to have been received by him and the intending applicant shall be responsible for any default in payment and other consequences that might occur there from.
27) The transfer / assignment of the Commercial unit/shops shall not be effective unless approved by the developer in writing subject to payment of fee/charges towards administrative or other expenses and may be levied by the developer.
28) The applicant agrees that the development of the project is subject to FORCE MAJEURE clause. Construction of the unit is likely to be completed within a period of Thirty Six (36) months from the commencement of construction of the particular Tower in which the unit is located with a grace period of Six (6) months, on receipt of sanction of building plans and all other requisite approvals for construction subject to force majeure including any restraints/restrictions from any authorities, non-availability of building materials or disputes with contractors/work force and circumstances beyond the control of the developer. No claim by way of damages/compensation shall lie against the developer in case of delay in handing over possession on account of the said reasons.
29) The developer on completion of construction shall issue a final call notice to the buyer who shall remit all the outstanding dues within 30 days thereof and take possession of the unit and also execute transfer deed in respect of the unit. However, if the developer fails to deliver the unit within 6 month from the original schedule of delivery for reason other than mentioned above, the developer shall consider allotting alternative available commercial units/shops or refund the amount already deposited with simple interest@8%p.a. from the date of deposit.
30) THE TIMELY PAYMENT IS THE ESSENCE OF THE CONTRACT. NO CLAIM SHALL LIE AGAINST THE DEVELOPER IN CASE THERE ARE DELAY IN PAYMENT AS PER ORIGINAL PAYMENT SCHEDULE.
31) Any amount paid by the applicant (s) shall be firstly adjusted towards earlier outstanding payments such as unpaid/ or partly paid installment, interest, service tax or other outstanding amount if any.
32) The intending applicant has understood that the development & completion of the whole project may be done in phases and this may cause inconvenience to the resident of earlier phases and he shall not have any objection to the same.
33) The premises are to be maintained by maintenance agency nominated or appointed by the developer. The applicant to enter into a Standard Maintenance Agreement with the maintenance agency and to pay the maintenance bills/demands properly and regularly.
34) In case of NRI / Foreign National buyers, the observation of the provisions of the Foreign Exchange Management Act, 1999 and any other law as may be prevailing shall be the responsibility of the applicant.
35) The applicant shall not use the said unit for any purpose other than for which the said unit is being acquired by him except with prior written permission of the developer.
36) That in case any security or deposit or charges as demanded by the Electricity Distribution Company, Municipal Authorities or any other local authority including in the nature of or in the name of external development charges, lease rent, service tax, charges towards supply of electricity, water or any other facility or amenity, the applicant shall contribute proportionately towards such security or deposit or charges as shall be determined by the developer.
37) That the Court having original jurisdiction in the Tehsil of Tijara / Alwar alone shall have the jurisdiction in all matters relating to or arising out of this transaction.
38) No Verbal Communication will be binding on the developer until it is supported by Written Instrument/ Communication.
39) Approval u/s 90 A the Rajasthan Land Revenue Act,1956 of the project land has been obtained. Layout plans and building plans has been sanctioned. Lease deed has already been executed in favour of the Company from Govt. of Rajasthan and all the approvals have been sanctioned by various authorities. However, revised building plan of commercial block is yet to be obtained from Urban Improvement Trust, Bhiwadi.
