POSSESSION AFTER COMPLETION Sample Clauses
The "Possession After Completion" clause defines when the buyer is entitled to take physical possession of the property following the completion of the sale. Typically, this clause specifies that the buyer may occupy the property immediately after the transaction is finalized, or it may set a specific timeframe, such as a certain number of days post-completion, during which the seller must vacate. In some cases, it may also outline conditions for the seller's continued occupancy, such as payment of rent. The core function of this clause is to clearly establish the transition of possession, preventing disputes and ensuring both parties understand their rights and obligations regarding occupancy after the sale is completed.
POSSESSION AFTER COMPLETION. After obtaining Completion Certificate/partial completion certificate from the Competent Authority upon submission of the approval certificate from the technical specialists like the Architect, Structural or Foundation Engineers or others, if any, as per statute or otherwise signifying that the Unit/building is ready and habitable, the Promoter shall issue Notice of Possession to the Allottee whereupon the Allottee has to take possession immediately and not later than 15 days as the 15th day will be considered as ‘DEEMED POSSESSION’ and immediately the Allottee becomes liable to pay Maintenance Charges. Besides If the Allottee does not take possession of the flat on or within 15 days from the date of Notice of possession guarding charges will be applicable. The work approval certificates issued by the technical specialists required for the issue of CC / partial cc shall be construed as a defect-free completion of the building and any claim by the Allottee or his consultant shall not be entertained or shall not be a valid ground for refusal of accepting possession by the Allottee. Possession cannot be delayed on the pretext of minor defects or some common area work is still continuing. If there be any minor defect the Promoter will rectify it. The Promoter will rectify all constructional defects over the next five years so there is no logical ground available to the Allottee for delaying possession. If the Unit Owner himself wants to get the work done he can give prior information to the Promoter and get the cost approved before getting the work done and claim reimbursement. At the time of handover, the customer will have to make the final payment and take handover of his flat. If the Allottee has requested for some extra work /modification and Promoter has agreed to complete such work, completion of this work will not be necessary for taking possession of the Flat and the Builder will do such work only after possession is taken by the Allottee. The same principle shall apply when the Common areas will be handed over to the Association of Apartment Owners who cannot delay the hand over on the ground that some Common areas of the Phase/Project are not complete or some rectifications are pending. Association may also get the work done by itself by giving prior information to the Promoter and get the cost approved before getting the work done and claim reimbursement. Some facilities may be provided or installations made after the entire complex has received CC...
POSSESSION AFTER COMPLETION. After CC, the Promoter shall appoint an Auditor who will carry out a snag audit of the Unit and once he confirms that the Unit is ready and habitable, the Promoter shall issue Notice of Possession to the Allottee whereupon the Allottee has to take possession immediately and not later than 15 days as the 15th day will be considered as ‘DEEMED POSSESSION’. Possession cannot be delayed on the pretext of minor defects. If there be any minor defect the Promoter will rectify it . The Promoter will rectify all constructional defects over the next five years so there is no logical ground available to the Allottee for delaying possession. If the Unit Owner himself wants to get the work done he can give prior information to the Promoter and get the cost approved before getting the work done and claim reimbursement. The same principle shall apply when the Common areas will be handed over to the Association of Apartment Owners who cannot delay the hand over on the ground that some Common areas of the Phase/Project are not complete or some rectifications are pending. Association may also get the work done by itself by giving prior information to the Promoter and get the cost approved before getting the work done and claim reimbursement. Some facilities may be provided or installations made after the entire complex has received CC.