Common use of Development in Phases Clause in Contracts

Development in Phases. The Vendor has formulated a scheme, for the development of several clusters of buildings primarily for residential purpose in the Project named “Ideal Greens” (collectively Said Complex), sale of various flats/spaces, with or without car parking space/s and other appurtenances (collectively Said Flats And Appurtenances) in the Said Complex and usages of common portions and utilities at the Said Complex as summarized below. Such development is proposed to be made in phases and for such purpose Vendor has entered into and/or intends to enter into agreements to acquire several plots of lands in phases for development of the Said Complex in phases in accordance with the sanctioned building plans that would be issued phase wise. It is clarified that such intention of the Vendor to have more than one phase in the Project is not an obligation of the Vendor towards anyone but is a right which may be exercised by the Vendor at its discretion.