POSSESSION OF THE FLAT. Schedule for possession of the Said Flat - The Promoter agrees and understands that timely delivery of possession of the Said Flat to the Allottee and the Common Areas of the Real Estate Project to the association of allottees (upon its formation and registration) is the essence of the Agreement. The Promoter assures to hand over possession of the Said Flat along with ready and complete Common Areas of the Real Estate Project (as specified in Schedule E below) with all specifications (as provided in Schedule D below) in place on December, 2021 (“Completion Date”), unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature affecting the regular development of the Real Estate Project ("Force Majeure"). If, however, the completion of the Real Estate Project is delayed due to the Force Majeure conditions then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Flat. Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the Project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. The Promoter shall intimate the allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee agrees that he/ she shall not have any rights, claims etc. against the Promoter and that the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. The Possession Date has been accepted by the Allottee. However, if the Said Flat is made ready prior to the Completion Date, the Allottee undertakes(s) and covenant (s) not to make or raise any objection to the consequent pre-ponement of his/her /their/its payment obligations, having clearly agreed and understood that the payment obligations of the Allottee is linked inter alia to the progress of construction, and the same is not a time linked plan. Notwithstanding anything elsewhere to the contrary herein contained, it is expressly agreed understood and clarified that if at any time, under the provisions of the applicable laws, the Common Areas and/or the land comprised in the Project Property and/or Larger Property or any part thereof are required and to be transferred to the association of allottee, then the Promoter and/or the Owners, as per their respective entitlements, shall be entitled to do so and the Allottee shall do all acts, deeds and things and signs, executes and delivers all papers documents etc., as be required therefore and if any stamp duty, registration fees, legal fees, other expenses, etc., is payable therefore, then the same shall be borne paid and discharged by the allottees of the Project (including the Allottee herein) proportionately and the Promoter and/or the Owners shall not be liable therefore in any manner whatsoever and the Allottee and the other allottees shall keep the Promoter and the Owner fully indemnified with regard thereto. Agreement to be taken within two months from the date of issue of completion certificate subject to payment of all amount due and payable under this Agreement and Registration of the Deed of Conveyance. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee, after taking possession, agree(s) to pay the maintenance charges (as provided on Schedule H below) as determined by the Promoter/association of allottees, as the case may be from the date of the issuance of the completion certificate for the Project. The promoter shall hand over the photocopy of completion certificate of the Project to the allottee at the time of conveyance of the same.
Appears in 1 contract
Sources: Agreement for Sale
POSSESSION OF THE FLAT. 7.1 Schedule for possession of the Said said [Flat - ] – The Promoter Vendor agrees and understands that timely delivery of possession of the Said Flat [Flat] to the Allottee Purchaser and the Common Areas of the Real Estate Project common areas to the association Association of allottees (upon its formation and registration) Purchasers or the competent authority, as the case may be, is the essence of the Agreement. The Promoter Vendor assures to hand over handover possession of the Said Flat [Flat] along with ready and complete Common Areas common areas with all specifications, amenities and facilities of the Real Estate Project (as specified in Schedule E below) with all specifications (as provided in Schedule D below) in place on December, 2021 (“Completion Date”), on---------------------- unless there is delay or failure due to war, flood, drought, fire, cyclone, cyclone earthquake or any other calamity caused by nature affecting effecting the regular development of the Real Estate Project real estate project ("“Force Majeure"”). If, however, the completion of the Real Estate Project is delayed due to the Force Majeure conditions then the Allottee Purchaser agrees that the Promoter Vendor shall be entitled to the extension of time for delivery of possession of the [Flat]. Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee Purchaser(s) agrees and confirms that, in the event it becomes impossible for the Promoter Vendor to implement the Project project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter Vendor shall refund to the Allottee Purchaser(s) the entire amount received by the Promoter Vendor from the allotment Allotment within 45 days from that date. The Promoter Vendor shall intimate the allottee Purchaser about such termination at least thirty days prior to such termination. After refund of the money paid by the AllotteePurchaser, the Allottee agrees Purchaser agreed that he/ she shall not have any rights, claims etc. against the Promoter Vendor and that the Promoter Vendor shall be released and discharged from all its obligations and liabilities under this Agreement. The Possession Date has been accepted by the Allottee. However, if the Said Flat is made ready prior to the Completion Date, the Allottee undertakes(s) and covenant (s) not to make or raise any objection to the consequent pre-pre- ponement of his/her /their/its payment obligations, having clearly agreed and understood that the payment obligations of the Allottee is are linked inter alia to the progress of construction, and the same is not a time linked plan. Notwithstanding anything elsewhere to the contrary herein contained, it is expressly agreed understood and clarified that if at any time, under the provisions of the applicable laws, the Common Areas and/or the land comprised in the Project Property and/or Larger Property or any part thereof are required and to be transferred to the association of allottee, then the Promoter and/or the Owners, as per their respective entitlements, shall be entitled to do so and the Allottee shall do all acts, deeds and things and signs, executes and delivers all papers documents etc., as be required therefore and if any stamp duty, registration fees, legal fees, other expenses, etc., is payable therefore, then the same shall be borne paid and discharged by the allottees of the Project (including the Allottee herein) proportionately and the Promoter and/or the Owners shall not be liable therefore in any manner whatsoever and the Allottee and the other allottees shall keep the Promoter and the Owner fully indemnified with regard thereto. Agreement to be taken within two months from the date of issue of completion certificate subject to payment of all amount due and payable under this Agreement and Registration of the Deed of Conveyance. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee, after taking possession, agree(s) to pay the maintenance charges (as provided on Schedule H below) as determined by the Promoter/association of allottees, as the case may be from the date of the issuance of the completion certificate for the Project. The promoter shall hand over the photocopy of completion certificate of the Project to the allottee at the time of conveyance of the same.
Appears in 1 contract
Sources: Agreement for Sale
POSSESSION OF THE FLAT. Schedule for possession of the Said said Flat - The Promoter agrees and understands that timely delivery of possession of the Said Flat to the Allottee and the Common Areas of the Real Estate Project to the association of allottees (upon its formation and registration) is the essence of the Agreement. The Promoter Promoter, based on the approved plans and specifications, assures to hand over possession of the Said Flat along with ready and complete Common Areas of the Real Estate Project (as specified in Schedule E below) with all specifications (as provided in Schedule D below) in place on December, 2021 (“Completion Date”)ORCHID TOWER on or before 31st December 2024, unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature affecting the regular development of the Real Estate Project real estate project ("Force Majeure"). If, however, the completion of the Real Estate Project is delayed due to the Force Majeure conditions then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Flat. Provided , provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the Project project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee the entire amount received by the Promoter from the allotment within 45 ninety days from that date. The Promoter shall intimate the allottee about such date of termination at least thirty days prior to such terminationof allotment. After refund of the money paid by the Allottee, the Allottee agrees that he/ she shall not have any rights, claims etc. against the Promoter and that the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. Procedure for taking possession - The Possession Date has been accepted by Promoter, upon obtaining the Allottee. However[occupancy Certificate or such other certificate from the competent authority shall offer in writing the possession of the Flat ORCHID TOWER, if the Said Flat is made ready prior to the Completion Date, the Allottee undertakes(s) and covenant (s) not to make or raise any objection to the consequent pre-ponement in terms of his/her /their/its payment obligations, having clearly agreed and understood that the payment obligations of the Allottee is linked inter alia to the progress of construction, and the same is not a time linked plan. Notwithstanding anything elsewhere to the contrary herein contained, it is expressly agreed understood and clarified that if at any time, under the provisions of the applicable laws, the Common Areas and/or the land comprised in the Project Property and/or Larger Property or any part thereof are required and to be transferred to the association of allottee, then the Promoter and/or the Owners, as per their respective entitlements, shall be entitled to do so and the Allottee shall do all acts, deeds and things and signs, executes and delivers all papers documents etc., as be required therefore and if any stamp duty, registration fees, legal fees, other expenses, etc., is payable therefore, then the same shall be borne paid and discharged by the allottees of the Project (including the Allottee herein) proportionately and the Promoter and/or the Owners shall not be liable therefore in any manner whatsoever and the Allottee and the other allottees shall keep the Promoter and the Owner fully indemnified with regard thereto. this Agreement to be taken within two three months from the date of issue of completion certificate subject to payment of all amount due such notice and payable under this Agreement and Registration the Promoter shall give possession of the Deed of ConveyanceFlat to the Allottee. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee, after taking possession, agree(s) Allottee agrees to pay the maintenance charges (as provided on Schedule H below) as determined by the Promoter/association Promoter / Association of allottees, as the case may be from the date of the issuance of the completion certificate for the Projectbe. The promoter Promoter on its behalf shall hand over offer the photocopy possession to the Allottee in writing within 60 (Sixty) days of completion receiving the occupancy certificate of the Project to the allottee at the time of conveyance of the sameProject.
Appears in 1 contract
POSSESSION OF THE FLAT. Schedule for possession of the Said Flat - said Flat: The Promoter PROMOTER/VENDOR/LAND OWNER agrees and understands that timely delivery of possession of the Said Flat to the Allottee and the Common Areas of the Real Estate Project to the association of allottees (upon its formation and registration) is the essence of the Agreement. The Promoter PROMOTER/VENDOR/LAND OWNER, based on the approved plans and specifications, assures to hand over possession of the Said Flat along with ready and complete Common Areas of the Real Estate Project (as specified in Schedule E below) with all specifications (as provided in Schedule D below) in place on December, 2021 (“Completion Date”)December 2024, unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature nature, Pandemic affecting the regular development of the Real Estate Project real estate project ("“Force Majeure"”). If, however, the completion of the Real Estate Project is delayed due to the Force Majeure conditions then the Allottee ALLOTTEE/PURCHASER agrees that the Promoter PROMOTER/VENDOR/LAND OWNER shall be entitled to the extension of time for delivery of possession of the Flat. Provided , provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee agrees ALLOTTEE/PURCHASER agree and confirms confirm that, in the event it becomes impossible for the Promoter PROMOTER/VENDOR/LAND OWNER to implement the Project project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter PROMOTER/VENDOR/LAND OWNER shall refund to the Allottee ALLOTTEE/PURCHASER the entire amount received by the Promoter PROMOTER/VENDOR/LAND OWNER from the allotment ALLOTTEE/PURCHASER within 45 days from that date. The Promoter shall intimate the allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the AllotteeALLOTTEE/PURCHASER, the Allottee agrees ALLOTTEE/PURCHASER agree that he/ she he shall not have any rights, claims etc. against the Promoter PROMOTER/VENDOR/LAND OWNER and that the Promoter PROMOTER/VENDOR/LAND OWNER shall be released and discharged from all its obligations and liabilities under this Agreement. PROCEDURE FOR TAKING POSSESSION – The Possession Date has been accepted by PROMOTER/VENDOR/LAND OWNER, upon obtaining the Allottee. Howeveroccupancy/completion certificate from the competent authority shall offer in writing the possession of the Flat, if the Said Flat is made ready prior to the Completion Date, the Allottee undertakes(s) and covenant (s) not to make or raise any objection to the consequent pre-ponement ALLOTTEE/PURCHASER in terms of his/her /their/its payment obligations, having clearly agreed and understood that the payment obligations of the Allottee is linked inter alia to the progress of construction, and the same is not a time linked plan. Notwithstanding anything elsewhere to the contrary herein contained, it is expressly agreed understood and clarified that if at any time, under the provisions of the applicable laws, the Common Areas and/or the land comprised in the Project Property and/or Larger Property or any part thereof are required and to be transferred to the association of allottee, then the Promoter and/or the Owners, as per their respective entitlements, shall be entitled to do so and the Allottee shall do all acts, deeds and things and signs, executes and delivers all papers documents etc., as be required therefore and if any stamp duty, registration fees, legal fees, other expenses, etc., is payable therefore, then the same shall be borne paid and discharged by the allottees of the Project (including the Allottee herein) proportionately and the Promoter and/or the Owners shall not be liable therefore in any manner whatsoever and the Allottee and the other allottees shall keep the Promoter and the Owner fully indemnified with regard thereto. this Agreement to be taken within two 3 (three months from the date of issue of completion certificate subject to payment of all amount due such notice and payable under this Agreement and Registration the PROMOTER/VENDOR/LAND OWNER shall give possession of the Deed of ConveyanceFlat to the ALLOTTEE/PURCHASER. The Promoter PROMOTER/VENDOR/LAND OWNER agrees and undertakes to indemnify the Allottee ALLOTTEE/PURCHASER in case of failure of fulfillment fulfilment of any of the provisions, formalities, documentation on part of the PromoterPROMOTER/VENDOR/LAND OWNER. The Allottee, after taking possession, agree(s) ALLOTTEE/PURCHASER agree to pay the maintenance charges (as provided on Schedule H below) as determined by the PromoterPROMOTER/association VENDOR/LAND OWNER /association of allotteesALLOTTEE/PURCHASER, as the case may be from the date of the issuance of the completion certificate for the Projectbe. The promoter PROMOTER/VENDOR/LAND OWNER on its behalf shall hand over offer the photocopy possession to the ALLOTTEE in writing within 90 days of receiving the occupancy/completion certificate of the Project Project. a written intimation from the PROMOTER/VENDOR/LAND OWNER as per clause 7.2, the ALLOTTEE/PURCHASER shall take possession of the Flat from the PROMOTER/VENDOR/LAND OWNER by executing necessary indemnities, undertakings and such other documentation as prescribed in this Agreement, and the PROMOTER/VENDOR/LAND OWNER shall give possession of the Flat to the allottee at ALLOTTEE/PURCHASER. In case the ALLOTTEE/PURCHASER fails to take possession within the time of conveyance provided in clause 7.2, such ALLOTTEE/PURCHASER shall continue to be liable to pay maintenance charges as applicable. POSSESSION BY THE ALLOTTEE/PURCHASER – After obtaining the occupancy/completion certificate and handing over physical possession of the sameFlat to the ALLOTTEE/PURCHASER, it shall be the responsibility of the PROMOTER/VENDOR/LAND OWNER, to hand over the necessary documents and plans, including common areas, to the association of the ALLOTTEE/PURCHASER or the competent authority, as the case may be, as per the local laws. CANCELLATION BY ALLOTTEE/PURCHASER – The ALLOTTEE/PURCHASER shall have the right to cancel/withdraw HIS allotment in the Project as provided in the Act: Provided that where the ALLOTTEE/PURCHASER propose to cancel/withdraw from the project without any fault of the PROMOTER/VENDOR/LAND OWNER, the PROMOTER/VENDOR/LAND OWNERshall be entitled to cancellation charges as mentioned inSIXTHSCHEDULE which may be treated as an integral part of this Agreement.
Appears in 1 contract
Sources: Sale Agreement
POSSESSION OF THE FLAT. 7.1 Schedule for possession of the Said said Flat - – The Promoter Vendor/▇▇▇▇▇▇▇▇▇ agrees and understands that timely delivery of possession of the Said Flat to the Allottee Purchaser and the Common Areas of the Real Estate Project common areas to the association Association of allottees (upon its formation and registration) Purchasers or the competent authority, as the case may be, is the essence of the Agreement. The Promoter Vendor/Developer assures to hand over handover possession of the Said Flat along with ready and complete Common Areas common areas with all specifications, amenities and facilities of the Real Estate Project (as specified in Schedule E below) with all specifications (as provided in Schedule D below) in place on December, 2021 (“Completion Date”), or before 31.12.2028 unless there is delay or failure due to war, flood, drought, fire, cyclone, cyclone earthquake or any other calamity caused by nature affecting effecting the regular development of the Real Estate Project real estate project ("“Force Majeure"”). If, however, the completion of the Real Estate Project is delayed due to the Force Majeure conditions then the Allottee Purchaser agrees that the Promoter Vendor/Developer shall be entitled to the extension of time for delivery of possession of the Flat. Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee Purchaser(s) agrees and confirms that, in the event it becomes impossible for the Promoter Vendor/Developer to implement the Project project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter Vendor/Developer shall refund to the Allottee Purchaser(s) the entire amount received by the Promoter Vendor/Developer from the allotment Allotment with interest at the rate specified in the Rules within 45 days from that date. The Promoter Vendor/Developer shall intimate the allottee Purchaser about such termination at least thirty days prior to such termination. After refund of the money paid by the AllotteePurchaser, the Allottee agrees Purchaser agreed that he/ she shall not have any rights, claims etc. against the Promoter and that the Promoter Vendor/Developer shall be released and discharged from all its obligations and liabilities under this Agreement. The Possession Date has been accepted by the AllotteePurchaser. However, if the Said Flat is made ready prior to the Completion Date, the Allottee Purchaser undertakes(s) and covenant (s) not to make or raise any objection to the consequent pre-ponement of his/her /their/its payment obligations, having clearly agreed and understood that the payment obligations of the Allottee is Purchaser are linked inter alia to the progress of construction, and the same is not a time linked plan. Notwithstanding anything elsewhere .
7.2 Procedure for taking possession- The Vendor/Developer, upon completion of project shall offer in writing the possession of the Said Flat, to the contrary herein contained, it is expressly agreed understood and clarified that if at any time, under the provisions Purchaser in terms of the applicable laws, the Common Areas and/or the land comprised in the Project Property and/or Larger Property or any part thereof are required and to be transferred to the association of allottee, then the Promoter and/or the Owners, as per their respective entitlements, shall be entitled to do so and the Allottee shall do all acts, deeds and things and signs, executes and delivers all papers documents etc., as be required therefore and if any stamp duty, registration fees, legal fees, other expenses, etc., is payable therefore, then the same shall be borne paid and discharged by the allottees of the Project (including the Allottee herein) proportionately and the Promoter and/or the Owners shall not be liable therefore in any manner whatsoever and the Allottee and the other allottees shall keep the Promoter and the Owner fully indemnified with regard thereto. this Agreement to be taken within two months from the date of issue of completion certificate intimation subject to payment of all amount due and payable under this Agreement and Registration of the Deed of Conveyance. The Promoter Vendor/▇▇▇▇▇▇▇▇▇ agrees and undertakes to indemnify the Allottee Purchaser in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the PromoterVendor/Developer. The AllotteePurchaser, after taking possession, agree(s) to pay the maintenance charges (as provided on Schedule H below) as determined by the PromoterVendor/association Developer /association of allotteesPurchasers, as the case may be from the date of the issuance of the completion certificate for the Project. The promoter shall hand over the photocopy of completion certificate of the Project to the allottee at the time of conveyance of the same.issue of
Appears in 1 contract
Sources: Agreement for Sale
POSSESSION OF THE FLAT. 7.1 Schedule for possession of the Said Flat - said Flat- The Promoter agrees and understands that timely delivery of possession of the Said Flat to the Allottee allottee and the Common Areas of the Real Estate Project common areas to the association of allottees (upon its formation and registration) or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Said Flat along with ready and complete Common Areas common areas with all specifications, amenities and facilities of the Real Estate Project (as specified in Schedule E below) with all specifications (as provided in Schedule D below) project in place on December, 2021 (“Completion Date”), unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature affecting the regular development of the Real Estate Project real estate project ("“Force Majeure"”). If, however, the completion of the Real Estate Project is delayed due to the Force Majeure conditions then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Flat. Provided , provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the Project project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee theAllottee the entire amount received by the Promoter from the allotment within 45 days from that date. The Promoter promoter shall intimate the allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee agrees that he/ she shall not have any rights, claims etc. against the Promoter and that the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. .
7.2 Procedure for taking possession - The Possession Date has been accepted by Promoter, upon obtaining the Allottee. However, if occupancy certificate from the Said Flat is made ready prior to competent authority shall offer in writing the Completion Date, the Allottee undertakes(s) and covenant (s) not to make or raise any objection to the consequent pre-ponement of his/her /their/its payment obligations, having clearly agreed and understood that the payment obligations possession of the Allottee is linked inter alia Flat, to the progress theAllottee in terms of construction, and the same is not a time linked plan. Notwithstanding anything elsewhere to the contrary herein contained, it is expressly agreed understood and clarified that if at any time, under the provisions of the applicable laws, the Common Areas and/or the land comprised in the Project Property and/or Larger Property or any part thereof are required and to be transferred to the association of allottee, then the Promoter and/or the Owners, as per their respective entitlements, shall be entitled to do so and the Allottee shall do all acts, deeds and things and signs, executes and delivers all papers documents etc., as be required therefore and if any stamp duty, registration fees, legal fees, other expenses, etc., is payable therefore, then the same shall be borne paid and discharged by the allottees of the Project (including the Allottee herein) proportionately and the Promoter and/or the Owners shall not be liable therefore in any manner whatsoever and the Allottee and the other allottees shall keep the Promoter and the Owner fully indemnified with regard thereto. this Agreement to be taken within two months from the date of issue of completion certificate subject to payment occupancy certificate. [Provided that, in the absence of all amount due and payable under this Agreement and Registration local law, the conveyance deed in favour of the Deed allottee shall be carried out by the promoter within 3 months from the date of Conveyanceissue of occupancy certificate]. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee, after taking possession, agree(s) to pay the maintenance charges (as provided on Schedule H below) as determined by the Promoter/association of allottees, as the case may be from the date of after the issuance of the completion certificate for the Projectproject. The promoter shall hand over the photocopy of completion occupancy certificate of the Project apartment/plot, as the case may be, to the allottee at the time of conveyance of the same.
Appears in 1 contract
Sources: Agreement for Sale
POSSESSION OF THE FLAT. Schedule for possession of the Said Flat - said Flat: The Promoter Developer agrees and understands that timely delivery of possession of the Said Flat to the Allottee and the Common Areas of the Real Estate Project to the association of allottees (upon its formation and registration) is the essence of the Agreement. The Promoter Developer, based on the approved plans and specifications, assures to hand over possession of the Said Flat along with ready and complete Common Areas of the Real Estate Project (as specified in Schedule E below) with all specifications (as provided in Schedule D below) in place on December, 2021 (“Completion Date”), by 26.09.2027 unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature affecting the regular development of the Real Estate Project real estate project ("Force Majeure"). If, however, the completion of the Real Estate Project is delayed due to the Force Majeure conditions then the Allottee agrees Purchaser/s agree/s that the Promoter Developer shall be entitled been titled to the extension of time for delivery of possession of the Flat. Provided , provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee agrees Purchaser/s agree/s and confirms that, in the event it becomes impossible for the Promoter Developer to implement the Project project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter Developer shall refund to the Allottee Purchaser/s the entire amount received by the Promoter Developer from the allotment within 45 days from that date. The Promoter shall intimate the allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the AllotteePurchaser/s, the Allottee Purchaser/s agrees that he/ she shall not have any rights, claims etc. against the Promoter Developer and that the Promoter Developer shall be released and discharged from all its obligations and liabilities under this Agreement. Provided that where the Purchaser/s proposes to cancel/withdraw from the project without any fault of the Developer, the Developer herein is entitled to forfeit the booking amount paid for the allotment. The Possession Date balance amount of money paid by the Purchaser/s shall be returned by the Developer to the Purchaser/s within 45 days of such cancellation. The Developer shall compensate the Purchaser/s in case of any loss caused to him due to defective title of the land, on which the project is being developed or has been accepted developed, in the manner as provided under the Act and the claim for compensation under this section shall not be barred by limitation provided under any law for the Allotteetime being in force. HoweverExcept for occurrence of a Force Majeure event, if the Said Developer fails to complete or is unable to give possession of the Flat is made ready prior (i) in accordance with the terms of this Agreement, duly completed by the date specified herein; or (ii) due to discontinuance of his business as a developer on account of suspension or revocation of the registration under the Act; or for any other reason; the Developer shall be liable, on demand to the Completion DatePurchasers, in case the Purchaser/s wishes to withdraw from the Project, without prejudice to any other remedy available, to return the total amount received by him in respect of the Flat, with interest at the rate specified in the Rules within 45 days including compensation in the manner as provided under the Act. Provided that where if the Purchaser/s do/does not intend to withdraw from the Project, the Allottee undertakes(s) and covenant (s) not to make or raise any objection to Developer shall pay the consequent pre-ponement Purchaser/s interest at the rate specified in the Rules for every month of his/her /their/its payment obligationsdelay, having clearly agreed and understood that till the payment obligations handing over of the Allottee is linked inter alia to the progress of construction, and the same is not a time linked plan. Notwithstanding anything elsewhere to the contrary herein contained, it is expressly agreed understood and clarified that if at any time, under the provisions possession of the applicable laws, the Common Areas and/or the land comprised in the Project Property and/or Larger Property or any part thereof are required and to be transferred to the association of allottee, then the Promoter and/or the Owners, as per their respective entitlements, shall be entitled to do so and the Allottee shall do all acts, deeds and things and signs, executes and delivers all papers documents etcFlat., as be required therefore and if any stamp duty, registration fees, legal fees, other expenses, etc., is payable therefore, then the same shall be borne paid and discharged by the allottees of the Project (including the Allottee herein) proportionately and the Promoter and/or the Owners shall not be liable therefore in any manner whatsoever and the Allottee and the other allottees shall keep the Promoter and the Owner fully indemnified with regard thereto. Agreement to be taken within two months from the date of issue of completion certificate subject to payment of all amount due and payable under this Agreement and Registration of the Deed of Conveyance. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee, after taking possession, agree(s) to pay the maintenance charges (as provided on Schedule H below) as determined by the Promoter/association of allottees, as the case may be from the date of the issuance of the completion certificate for the Project. The promoter shall hand over the photocopy of completion certificate of the Project to the allottee at the time of conveyance of the same.
Appears in 1 contract
Sources: Sale Agreement
POSSESSION OF THE FLAT. 7.1 Schedule for possession of the Said said Flat - The Promoter agrees and understands that timely delivery of possession of the Said Flat to the Allottee and the Common Areas of the Real Estate Project to the association of allottees (upon its formation and registration) is the essence of the Agreement. The Promoter Promoter, based on the approved plans and specifications, assures to hand over possession of the Said Flat along with ready and complete Common Areas of the Real Estate Project (as specified in Schedule E below) with all specifications (as provided in Schedule D below) in place on December, 2021 (“Completion Date”)S S TOWER on or before 31st March 2024, unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature affecting the regular development of the Real Estate Project real estate project ("Force Majeure"). If, however, the completion of the Real Estate Project is delayed due to the Force Majeure conditions then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Flat. Provided , provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the Project project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee the entire amount received by the Promoter from the allotment within 45 ninety days from that date. The Promoter shall intimate the allottee about such date of termination at least thirty days prior to such terminationof allotment. After refund of the money paid by the Allottee, the Allottee agrees that he/ she shall not have any rights, claims etc. against the Promoter and that the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. .
7.2 Procedure for taking possession - The Possession Date has been accepted by Promoter, upon obtaining the Allottee. However[occupancy Certificate or such other certificate from the competent authority shall offer in writing the possession of the Flat S S Tower, if the Said Flat is made ready prior to the Completion Date, the Allottee undertakes(s) and covenant (s) not to make or raise any objection to the consequent pre-ponement in terms of his/her /their/its payment obligations, having clearly agreed and understood that the payment obligations of the Allottee is linked inter alia to the progress of construction, and the same is not a time linked plan. Notwithstanding anything elsewhere to the contrary herein contained, it is expressly agreed understood and clarified that if at any time, under the provisions of the applicable laws, the Common Areas and/or the land comprised in the Project Property and/or Larger Property or any part thereof are required and to be transferred to the association of allottee, then the Promoter and/or the Owners, as per their respective entitlements, shall be entitled to do so and the Allottee shall do all acts, deeds and things and signs, executes and delivers all papers documents etc., as be required therefore and if any stamp duty, registration fees, legal fees, other expenses, etc., is payable therefore, then the same shall be borne paid and discharged by the allottees of the Project (including the Allottee herein) proportionately and the Promoter and/or the Owners shall not be liable therefore in any manner whatsoever and the Allottee and the other allottees shall keep the Promoter and the Owner fully indemnified with regard thereto. this Agreement to be taken within two three months from the date of issue of completion certificate subject to payment of all amount due such notice and payable under this Agreement and Registration the Promoter shall give possession of the Deed of ConveyanceFlat to the Allottee. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee, after taking possession, agree(s) Allottee agrees to pay the maintenance charges (as provided on Schedule H below) as determined by the Promoter/association Promoter / Association of allottees, as the case may be from the date of the issuance of the completion certificate for the Projectbe. The promoter Promoter on its behalf shall hand over offer the photocopy possession to the Allottee in writing within 60 (Sixty) days of completion receiving the occupancy certificate of the Project to the allottee at the time of conveyance of the sameProject.
Appears in 1 contract
POSSESSION OF THE FLAT. er/ Promoter shall constitute a Schedule for possession of the Said Flat - said Flat: The Promoter Developer/ ▇▇▇▇▇▇▇▇ agrees and understands that timely delivery of possession of the Said Flat to the Allottee and the Common Areas of the Real Estate Project to the association of allottees (upon its formation and registration) is Flatis the essence of the Agreement. The Promoter Developer/ Promoter, based on the approved plans and specifications, assures to hand over possession of the Said Flat along with ready and complete Common Areas of the Real Estate Project (as specified in Schedule E below) with all specifications (as provided in Schedule D below) in place on December, 2021 (“Completion Date”), unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature affecting the regular development of the Real Estate Project real estate project ("Force Majeure"). If, however, the completion of the Real Estate Project is delayed due to the Force Majeure conditions then the Allottee Purchaser agrees that the Developer/ Promoter shall be entitled to the extension of time for delivery of possession of the Flat. Provided [Apartment/Plot], provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee Purchaser agrees and confirms that, in the event it becomes impossible for the Developer/ Promoter to implement the Project project due to Force Majeure conditions, then this allotment shall stand terminated and the Developer/ Promoter shall refund to the Allottee Purchaser the entire amount received by the Developer/ Promoter from the allotment within 45 days from that date. The Promoter shall intimate the allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the AllotteePurchaser, the Allottee ▇▇▇▇▇▇▇▇▇ agrees that he/ she shall not have any rights, claims etc. against the Developer/ Promoter and that the Developer/ Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. The Possession Date has been accepted by the Allottee. However, if the Said Flat is made ready prior to the Completion Date, the Allottee undertakes(s) and covenant (s) not to make or raise any objection to the consequent pre-ponement of his/her /their/its payment obligations, having clearly agreed and understood that the payment obligations of the Allottee is linked inter alia to the progress of construction, and the same is not a time linked plan. Notwithstanding anything elsewhere to the contrary herein contained, it is expressly agreed understood and clarified that if at any time, under the provisions of the applicable laws, the Common Areas and/or the land comprised in the Project Property and/or Larger Property or any part thereof are required and to be transferred to the association of allottee, then the Promoter and/or the Owners, as per their respective entitlements, shall be entitled to do so and the Allottee shall do all acts, deeds and things and signs, executes and delivers all papers documents etc., as be required therefore and if any stamp duty, registration fees, legal fees, other expenses, etc., is payable therefore, then the same shall be borne paid and discharged by the allottees of the Project (including the Allottee herein) proportionately and the Promoter and/or the Owners shall not be liable therefore in any manner whatsoever and the Allottee and the other allottees shall keep the Promoter and the Owner fully indemnified with regard thereto. Agreement to be taken within two months from the date of issue of completion certificate subject to payment of all amount due and payable under this Agreement and Registration of the Deed of Conveyance. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee, after taking possession, agree(s) to pay the maintenance charges (as provided on Schedule H below) as determined by the Promoter/association of allotteesPurchasers, as the case may be be. The Developer/ Promoter on its behalf shall offer the possession to the Purchaser in writing within ▇▇ ▇. ▇▇▇▇▇▇▇ Provided that where the Purchaser proposes to cancel/withdraw from the date project without any fault of the issuance of Developer/ Promoter, the completion certificate Developer/ Promoter herein is entitled to forfeit the booking amount paid for the Projectallotment. The promoter balance amount of money paid by the Purchaser shall hand over be returned by the photocopy of completion certificate of the Project Developer/ Promoter to the allottee at the time Purchaser within 45 days of conveyance of the samesuch cancellation.
Appears in 1 contract
Sources: Agreement for Sale
POSSESSION OF THE FLAT. UNIT/APARTMENT :
10.1 Schedule for possession Possession of the Said Flat - said designated Flat/Unit/Apartment. The Promoter Developer agrees and understands that timely delivery of possession of the Said Flat said designated Flat/Unit/Apartment to the Allottee Purchaser(s) and the Common Areas of the Real Estate Project common areas to the association Association of allottees (upon its formation and registrationPurchaser(s) or the Competent Authority, as the case may be, is the essence of this Agreement for Sale and the Agreement. The Promoter Developer assures to hand over possession of the Said Flat along with said designated Flat/Unit/Apartment alongwith ready and complete Common Areas common areas with all specifications, amenities and facilities of the Real Estate Building/Project not later than 48 (as specified in Schedule E belowForty Eight) with all specifications (as provided in Schedule D below) in place on December, 2021 (“Completion Date”), Months unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature affecting the regular development of the Real Estate Project ("Force Majeure")real estate project and with Application of Booking Form. If, however, the completion of the Real Estate said Building/Project is delayed due to the Force Majeure conditions then the Allottee agrees Purchaser(s) agree/s that the Promoter Developer shall be entitled to the extension of time for delivery of possession of the said designated Flat. Provided that such Force Majeure conditions are not /Unit/Apartment.
10.2 Procedure for taking possession – The Developer upon obtaining the Occupancy Certificate from the competent authority shall offer in writing the possession of a nature which make it impossible for the contract to be implemented. The Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the Project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund designated Flat/Unit/Apartment to the Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. The Promoter shall intimate the allottee about such termination at least thirty days prior to such termination. After refund Purchaser(s) in terms of the money paid by the Allottee, the Allottee agrees that he/ she shall not have any rights, claims etc. against the Promoter and that the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. The Possession Date has been accepted by the Allottee. However, if the Said Flat is made ready prior to the Completion Date, the Allottee undertakes(s) and covenant (s) not to make or raise any objection to the consequent pre-ponement of his/her /their/its payment obligations, having clearly agreed and understood that the payment obligations of the Allottee is linked inter alia to the progress of construction, and the same is not a time linked plan. Notwithstanding anything elsewhere to the contrary herein contained, it is expressly agreed understood and clarified that if at any time, under the provisions of the applicable laws, the Common Areas and/or the land comprised in the Project Property and/or Larger Property or any part thereof are required and to be transferred to the association of allottee, then the Promoter and/or the Owners, as per their respective entitlements, shall be entitled to do so and the Allottee shall do all acts, deeds and things and signs, executes and delivers all papers documents etc., as be required therefore and if any stamp duty, registration fees, legal fees, other expenses, etc., is payable therefore, then the same shall be borne paid and discharged by the allottees of the Project (including the Allottee herein) proportionately and the Promoter and/or the Owners shall not be liable therefore in any manner whatsoever and the Allottee and the other allottees shall keep the Promoter and the Owner fully indemnified with regard thereto. Agreement for Sale to be taken within two months 2 (Two) Months from the date of issue of completion certificate subject to payment Occupancy Certificate. PROVIDED THAT in the absence of all amount due and payable under this Agreement and Registration local law, the Conveyance Deed in favour of the Deed Purchaser(s) shall be carried out by the Developer within 3 (Three) Months from the date of Conveyance. The Promoter issue of the said Occupancy Certificate and the Developer agrees and undertakes to indemnify the Allottee Purchaser(s) in case of failure of fulfillment fulfilment of any of the provisions, formalities, documentation on part of the PromoterDeveloper. The Allottee, Purchaser(s) after taking possession, agree(s) agree/s to pay the maintenance charges (as provided on Schedule H below) as determined by the PromoterDeveloper/association Association of allotteesPurchaser(s), as the case may be from the date of be, after the issuance of the completion certificate Completion Certificate for the said Building/Project. The promoter Developer shall hand over the photocopy of completion certificate Occupancy Certificate of the Project said designated Flat/Unit/Apartment, as the case may be, to the allottee Purchaser(s) at the time of conveyance Conveyance of the same.
10.3 Failure of the Purchaser(s) to take Possession of the designated Flat/Unit/Apartment – Upon receiving a written intimation from the Developer as per Clause No. 10.2, the Purchaser(s) shall take possession of the said designated Flat/Unit/Apartment from the Developer by executing necessary indemnities, undertakings and such other documentation as prescribed in this Agreement for Sale and the Developer shall give possession of the designated Flat/Unit/Apartment to the Purchaser(s). In case the Purchaser(s) fail/s to take possession within the time provided in Clause No. 10.2 such Purchaser(s) shall continue to be liable to pay interest on due payments and maintenance charges as specified in Clause No. 10.2.
10.4 Possession by the Purchaser(s) – After obtaining the Occupancy Certificate and handing over physical possession of the said designated Flat/Unit/Apartment to the Purchaser(s), it shall be the responsibility of the Developer to hand over the necessary documents and plans, including common areas to the Association of Purchaser(s) or the Competent Authority, as the case may be.
10.5 Cancellation by the Purchaser(s) – The Purchaser(s) shall have the right to cancel/withdraw his/her/their allotment in the Building/Project as provided in the Act:
Appears in 1 contract
Sources: Sale Agreement
POSSESSION OF THE FLAT. 7.1 Schedule for possession of the Said Flat said flat - The Promoter agrees and understands that timely delivery of possession of the Said Flat flat to the Allottee allottee and the Common Areas of the Real Estate Project common areas to the association of allottees (upon its formation and registration) or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Said Flat flat along with ready and complete Common Areas common areas with all specifications, amenities and facilities of the Real Estate Project (as specified in Schedule E below) with all specifications (as provided in Schedule D below) 1st phase of the project in place on December, 2021 (“Completion Date”)31/03/2019, unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature affecting the regular development of the Real Estate Project real estate project ("“Force Majeure"”). If, however, the completion of the Real Estate Project is delayed due to the Force Majeure conditions then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Flat. Provided flat, provided that such Force Majeure conditions are not of a nature nature, which make it impossible for the contract to be implemented. The Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the Project project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. The Promoter promoter shall intimate the allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee agrees that he/ she shall not have any rights, claims etc. against the Promoter and that the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. .
7.2 Procedure for taking possession - The Possession Date has been accepted by the Allottee. HoweverPromoter, if the Said Flat is made ready prior to the Completion Date, the Allottee undertakes(s) and covenant (s) not to make or raise any objection to the consequent pre-ponement of his/her /their/its payment obligations, having clearly agreed and understood that the payment obligations upon obtaining fullpayment of the Allottee is linked inter alia to the progress of construction, and the same is not a time linked plan. Notwithstanding anything elsewhere to the contrary herein contained, it is expressly agreed understood and clarified that if at any time, under the provisions of the applicable laws, the Common Areas and/or the land comprised in the Project Property and/or Larger Property or any part thereof are required and to be transferred to the association of allottee, then the Promoter and/or the Owners, as per their respective entitlements, shall be entitled to do so and the Allottee shall do all acts, deeds and things and signs, executes and delivers all papers documents etc., as be required therefore and if any stamp duty, registration fees, legal fees, other expenses, etc., is payable therefore, then the same shall be borne paid and discharged by the allottees of the Project (including the Allottee herein) proportionately and the Promoter and/or the Owners shall not be liable therefore in any manner whatsoever and flat from the Allottee and the other allottees occupancy/completion certificate from the competent authority shall keep offer in writing the Promoter and possession of the Owner fully indemnified with regard thereto. flat, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of completion certificate subject to payment certificate. [Provided that, in the absence of all amount due and payable under this Agreement and Registration local law, the conveyance deed in favour of the Deed allottee shall be carried out by the promoter within 3 months from the date of Conveyanceissue of completion certificate]. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee, after taking possession, agree(s) to pay the maintenance charges (as provided on Schedule H below) as determined by the Promoter/association of allottees, as the case may be from the date of after the issuance of the completion certificate for the Projectproject or from 31/03/2019 onwards, whichever is earlier. The promoter shall hand over the photocopy of completion certificate of the Project flats/EWS, to the allottee at the time of conveyance of the same. That it shall be mandatory for the Allottee to become a member of the residents society, which shall be responsible for all maintenance and security provision of the premises as may be mutually decided later.
Appears in 1 contract
Sources: Agreement for Sale
POSSESSION OF THE FLAT. Schedule for possession of the Said Flat - said Flat: The Promoter Developer/ ▇▇▇▇▇▇▇▇ agrees and understands that timely delivery of possession of the Said Flat to the Allottee and the Common Areas of the Real Estate Project to the association of allottees (upon its formation and registration) is Flatis the essence of the Agreement. The Promoter Developer/ Promoter, based on the approved plans and specifications, assures to hand over possession of the Said Flat along with ready and complete Common Areas of the Real Estate Project (as specified in Schedule E below) with all specifications (as provided in Schedule D below) in place on December, 2021 (“Completion Date”), unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature affecting the regular development of the Real Estate Project real estate project ("Force Majeure"). If, however, the completion of the Real Estate Project is delayed due to the Force Majeure conditions then the Allottee Purchaser agrees that the Developer/ Promoter shall be entitled to the extension of time for delivery of possession of the Flat. Provided [Apartment/Plot], provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee Purchaser agrees and confirms that, in the event it becomes impossible for the Developer/ Promoter to implement the Project project due to Force Majeure conditions, then this allotment shall stand terminated and the Developer/ Promoter shall refund to the Allottee Purchaser the entire amount received by the Developer/ Promoter from the allotment within 45 days from that date. The Promoter shall intimate the allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the AllotteePurchaser, the Allottee ▇▇▇▇▇▇▇▇▇ agrees that he/ she shall not have any rights, claims etc. against the Developer/ Promoter and that the Developer/ Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. The Possession Date has been accepted by the Allottee. However, if the Said Flat is made ready prior to the Completion Date, the Allottee undertakes(s) and covenant (s) not to make or raise any objection to the consequent pre-ponement of his/her /their/its payment obligations, having clearly agreed and understood that the payment obligations of the Allottee is linked inter alia to the progress of construction, and the same is not a time linked plan. Notwithstanding anything elsewhere to the contrary herein contained, it is expressly agreed understood and clarified that if at any time, under the provisions of the applicable laws, the Common Areas and/or the land comprised in the Project Property and/or Larger Property or any part thereof are required and to be transferred to the association of allottee, then the Promoter and/or the Owners, as per their respective entitlements, shall be entitled to do so and the Allottee shall do all acts, deeds and things and signs, executes and delivers all papers documents etc., as be required therefore and if any stamp duty, registration fees, legal fees, other expenses, etc., is payable therefore, then the same shall be borne paid and discharged by the allottees of the Project (including the Allottee herein) proportionately and the Promoter and/or the Owners shall not be liable therefore in any manner whatsoever and the Allottee and the other allottees shall keep the Promoter and the Owner fully indemnified with regard thereto. Agreement to be taken within two months from the date of issue of completion certificate subject to payment of all amount due and payable under this Agreement and Registration of the Deed of Conveyance. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee, after taking possession, agree(s) to pay the maintenance charges (as provided on Schedule H below) as determined by the Developer/ Promoter/association of allotteesPurchasers, as the case may be from be. The Developer/ Promoter on its behalf shall offer the date possession to the Purchaser in writing within days of receiving the issuance occupancy certificate* of the completion certificate for the Project. The promoter shall hand over Provided that where the photocopy of completion certificate Purchaser proposes to cancel/withdraw from the project without any fault of the Project Developer/ Promoter, the Developer/ Promoter herein is entitled to forfeit the booking amount paid for the allotment. The balance amount of money paid by the Purchaser shall be returned by the Developer/ Promoter to the allottee at the time Purchaser within 45 days of conveyance of the samesuch cancellation.
Appears in 1 contract
Sources: Sale Agreement
POSSESSION OF THE FLAT. 7.1. Schedule for possession of the Said said Flat - The Promoter Developer agrees and understands that timely delivery of possession of the Said Flat to the Allottee and the Common Areas of the Real Estate Project to the association of allottees (upon its formation and registration) is the essence of the Agreement. The Promoter Developer, based on the approved plans and specifications, assures to hand over possession of the Said Flat along with ready and complete Common Areas of the Real Estate Project on Devashilpi Ekam (as specified in Schedule E belowPhase 1) with all specifications (as provided in Schedule D below) in place on December, 2021 (“Completion Date”)or before 30th September 2025, unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature affecting the regular development of the Real Estate Project real estate project ("“Force Majeure"”). If, however, the completion of the Real Estate Project is delayed due to the Force Majeure conditions then the Allottee agrees that the Promoter Developer shall be entitled to the extension of time for delivery of possession of the Flat. Provided , provided that such Force Majeure conditions are not of a nature which make makes it impossible for the contract to be implemented. The Allottee agrees and confirms that, that in the event it becomes impossible for the Promoter Developer to implement the Project project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter Developer shall refund to the Allottee the entire amount received by the Promoter Developer from the allotment within 45 90 (ninety) days from that date. The Promoter shall intimate the allottee about such date of termination at least thirty days prior to such terminationof allotment. After the refund of the money paid by the Allottee, the Allottee agrees that he/ she shall not have any rights, claims claims, etc. against the Promoter Developer and that the Promoter Developer shall be released and discharged from all its obligations and liabilities under this Agreement.
7.2. Procedure for taking possession - The Possession Date has been accepted by Developer, upon obtaining the Allottee. HoweverOccupancy Certificate or such other certificate from the competent authority shall offer in writing the possession of the Flat “Devashilpi Ekam”, if the Said Flat is made ready prior to the Completion Date, the Allottee undertakes(s) and covenant (s) not to make or raise any objection to the consequent pre-ponement in terms of his/her /their/its payment obligations, having clearly agreed and understood that the payment obligations of the Allottee is linked inter alia to the progress of construction, and the same is not a time linked plan. Notwithstanding anything elsewhere to the contrary herein contained, it is expressly agreed understood and clarified that if at any time, under the provisions of the applicable laws, the Common Areas and/or the land comprised in the Project Property and/or Larger Property or any part thereof are required and to be transferred to the association of allottee, then the Promoter and/or the Owners, as per their respective entitlements, shall be entitled to do so and the Allottee shall do all acts, deeds and things and signs, executes and delivers all papers documents etc., as be required therefore and if any stamp duty, registration fees, legal fees, other expenses, etc., is payable therefore, then the same shall be borne paid and discharged by the allottees of the Project (including the Allottee herein) proportionately and the Promoter and/or the Owners shall not be liable therefore in any manner whatsoever and the Allottee and the other allottees shall keep the Promoter and the Owner fully indemnified with regard thereto. this Agreement to be taken within two three months from the date of issue of completion certificate subject to payment of all amount due such notice and payable under this Agreement and Registration the Developer shall give possession of the Deed of ConveyanceFlat to the Allottee. The Promoter Developer agrees and undertakes to indemnify the Allottee in case of failure of to fulfillment of any of the provisions, formalities, or documentation on the part of the PromoterDeveloper. The Allottee, after taking possession, agree(s) Allottee agrees to pay the maintenance charges (as provided on Schedule H below) as determined by the Promoter/association Developer / Association of allotteesAllottees, as the case may be from the date of the issuance of the completion certificate for the Projectbe. The promoter Developer on its behalf shall hand over offer the photocopy possession to the Allottee in writing within 60 (Sixty) days of completion receiving the occupancy certificate of the Project to the allottee at the time of conveyance of the sameProject.
Appears in 1 contract
Sources: Sale Agreement
POSSESSION OF THE FLAT. Schedule for possession of the Said Flat - said Flat: The Promoter Developer agrees and understands that timely delivery of possession of the Said Flat to the Allottee and the Common Areas of the Real Estate Project to the association of allottees (upon its formation and registration) is the essence of the Agreement. The Promoter Developer, based on the approved plans and specifications, assures to hand over possession of the Said Flat along with ready and complete Common Areas by 30th Day of the Real Estate Project (as specified in Schedule E below) with all specifications (as provided in Schedule D below) in place on DecemberApril, 2021 (“Completion Date”), 2026 unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature affecting the regular development of the Real Estate Project real estate project ("Force Majeure"). If, however, the completion of the Real Estate Project is delayed due to the Force Majeure conditions then the Allottee agrees Purchaser/s agree/s that the Promoter Developer shall be entitled been titled to the extension of time for delivery of possession of the Flat. Provided , provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee agrees Purchaser/s agree/s and confirms that, in the event it becomes impossible for the Promoter Developer to implement the Project project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter Developer shall refund to the Allottee Purchaser/s the entire amount received by the Promoter Developer from the allotment within 45 days from that date. The Promoter shall intimate the allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the AllotteePurchaser/s, the Allottee ▇▇▇▇▇▇▇▇▇/s agrees that he/ she shall not have any rights, claims etc. against the Promoter Developer and that the Promoter Developer shall be released and discharged from all its obligations and liabilities under this Agreement. Provided that where the Purchaser/s proposes to cancel/withdraw from the project without any fault of the Developer, the Developer herein is entitled to forfeit the booking amount paid for the allotment. The Possession Date balance amount of money paid by the Purchaser/s shall be returned by the Developer to the Purchaser/s within 45 days of such cancellation. The Developer shall compensate the Purchaser/s in case of any loss caused to him due to defective title of the land, on which the project is being developed or has been accepted developed, in the manner as provided under the Act and the claim for compensation under this section shall not be barred by limitation provided under any law for the Allotteetime being in force. HoweverExcept for occurrence of a Force Majeure event, if the Said Developer fails to complete or is unable to give possession of the Flat is made ready prior (i) in accordance with the terms of this Agreement, duly completed by the date specified herein; or (ii) due to discontinuance of his business as a developer on account of suspension or revocation of the registration under the Act; or for any other reason; the Developer shall be liable, on demand to the Completion DatePurchasers, in case the Purchaser/s wishes to withdraw from the Project, without prejudice to any other remedy available, to return the total amount received by him in respect of the Flat, with interest at the rate specified in the Rules within 45 days including compensation in the manner as provided under the Act. Provided that where if the Purchaser/s do/does not intend to withdraw from the Project, the Allottee undertakes(s) and covenant (s) not to make or raise any objection to Developer shall pay the consequent pre-ponement Purchaser/s interest at the rate specified in the Rules for every month of his/her /their/its payment obligationsdelay, having clearly agreed and understood that till the payment obligations handing over of the Allottee is linked inter alia to the progress of construction, and the same is not a time linked plan. Notwithstanding anything elsewhere to the contrary herein contained, it is expressly agreed understood and clarified that if at any time, under the provisions possession of the applicable laws, the Common Areas and/or the land comprised in the Project Property and/or Larger Property or any part thereof are required and to be transferred to the association of allottee, then the Promoter and/or the Owners, as per their respective entitlements, shall be entitled to do so and the Allottee shall do all acts, deeds and things and signs, executes and delivers all papers documents etcFlat., as be required therefore and if any stamp duty, registration fees, legal fees, other expenses, etc., is payable therefore, then the same shall be borne paid and discharged by the allottees of the Project (including the Allottee herein) proportionately and the Promoter and/or the Owners shall not be liable therefore in any manner whatsoever and the Allottee and the other allottees shall keep the Promoter and the Owner fully indemnified with regard thereto. Agreement to be taken within two months from the date of issue of completion certificate subject to payment of all amount due and payable under this Agreement and Registration of the Deed of Conveyance. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee, after taking possession, agree(s) to pay the maintenance charges (as provided on Schedule H below) as determined by the Promoter/association of allottees, as the case may be from the date of the issuance of the completion certificate for the Project. The promoter shall hand over the photocopy of completion certificate of the Project to the allottee at the time of conveyance of the same.
Appears in 1 contract
Sources: Sale Agreement
POSSESSION OF THE FLAT. 7.1 Schedule for possession of the Said said [Flat - ] – The Promoter Vendor agrees and understands that timely delivery of possession of the Said Flat [Flat] to the Allottee Purchaser and the Common Areas of the Real Estate Project common areas to the association Association of allottees (upon its formation and registration) Purchasers or the competent authority, as the case may be, is the essence of the Agreement. The Promoter Vendor assures to hand over handover possession of the Said Flat [Flat] along with ready and complete Common Areas common areas with all specifications, amenities and facilities of the Real Estate Project (as specified in Schedule E below) with all specifications (as provided in Schedule D below) in place on December, 2021 (“Completion Date”), unless there is delay or failure due to war, flood, drought, fire, cyclone, cyclone earthquake or any other calamity caused by nature affecting effecting the regular development of the Real Estate Project real estate project ("“Force Majeure"”). If, however, the completion of the Real Estate Project is delayed due to the Force Majeure conditions then the Allottee Purchaser agrees that the Promoter Vendor shall be entitled to the extension of time for delivery of possession of the [Flat]. Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee Purchaser(s) agrees and confirms that, in the event it becomes impossible for the Promoter Vendor to implement the Project project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter Vendor shall refund to the Allottee Purchaser(s) the entire amount received by the Promoter Vendor from the allotment Allotment within 45 days from that date. The Promoter Vendor shall intimate the allottee Purchaser about such termination at least thirty days prior to such termination. After refund of the money paid by the AllotteePurchaser, the Allottee agrees Purchaser agreed that he/ she shall not have any rights, claims etc. against the Promoter Vendor and that the Promoter Vendor shall be released and discharged from all its obligations and liabilities under this Agreement. The Possession Date has been accepted by the Allottee. However, if the Said Flat is made ready prior to the Completion Date, the Allottee undertakes(s) and covenant (s) not to make or raise any objection to the consequent pre-ponement of his/her /their/its payment obligations, having clearly agreed and understood that the payment obligations of the Allottee is are linked inter alia to the progress of construction, and the same is not a time linked plan. Notwithstanding anything elsewhere to the contrary herein contained, it is expressly agreed understood and clarified that if at any time, under the provisions of the applicable laws, the Common Areas and/or the land comprised in the Project Property and/or Larger Property or any part thereof are required and to be transferred to the association of allottee, then the Promoter and/or the Owners, as per their respective entitlements, shall be entitled to do so and the Allottee shall do all acts, deeds and things and signs, executes and delivers all papers documents etc., as be required therefore and if any stamp duty, registration fees, legal fees, other expenses, etc., is payable therefore, then the same shall be borne paid and discharged by the allottees of the Project (including the Allottee herein) proportionately and the Promoter and/or the Owners shall not be liable therefore in any manner whatsoever and the Allottee and the other allottees shall keep the Promoter and the Owner fully indemnified with regard thereto. Agreement to be taken within two months from the date of issue of completion certificate subject to payment of all amount due and payable under this Agreement and Registration of the Deed of Conveyance. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee, after taking possession, agree(s) to pay the maintenance charges (as provided on Schedule H below) as determined by the Promoter/association of allottees, as the case may be from the date of the issuance of the completion certificate for the Project. The promoter shall hand over the photocopy of completion certificate of the Project to the allottee at the time of conveyance of the same.
Appears in 1 contract
Sources: Sale Agreement