Common use of POSSESSION OF THE PLOT Clause in Contracts

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s and the common areas to the association of allottee’s or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on (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 Project is delayed due to the Force Majeure conditions then the Allottee’s agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The Allottee’s 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’s the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee’s about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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.

Appears in 4 contracts

Sources: Agreement for Sale, Agreement for Sale, Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - Plot: The Promoter agrees and understands that timely delivery of the possession of the Plot to the allottee’s Allottee and the common areas Common Areas of the Project to the association Notified Agency and the Shared Common Facilities/Township Level Common Facilities consisting of allottee’s or basic infrastructure facilities of the competent authorityTownship like driveways, Roads, Street lighting, Power Supply and Distribution System and other facilities as described in the case may beDPR to the agency(ies) notified by the Lessor, i.e. the Notified Agency is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas with all specificationsCommon Areas, amenities and facilities if any, of the project in place Project on (Date) *•+, unless there is a 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 Project (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions conditions, then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for the delivery of possession of the Plot. Provided, provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee’s Allottee agrees and confirms that, in the event it becomes become 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’s Allottee the entire amount received by the Promoter from the allotment within 45 (forty-five) days from that date. The promoter Promoter shall intimate the allottee’s Allottee about such termination at least thirty (30) days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s Allottee agrees that he/ 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. It is clarified that all amounts collected as GST and deposited with the appropriate authorities concerned shall not be returned by the Promoter and the Allottee shall be free to approach the authorities concerned for refund of such GST.

Appears in 4 contracts

Sources: Sub Lease Agreement, Sub Lease Agreement, Sub Lease Agreement

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s allottee and the common areas to the association of allottee’s allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on (Date) or before 19/ 07/ 2020, 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 Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The Allottee’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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 Promoter, upon obtaining the occupancy certificate* (completion certificate from competent authority in case of plotted development, as per local laws) from the competent authority shall offer in writing the possession of the Plot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of occupancy certificate / completion certificate. [Provided that, in the absence of local law, the conveyance deed in favour of the allottee shall be carried out by the promoter within 3 months from the date of issue of occupancy certificate]. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfilment 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 determined by the Promoter/ association of allottees, as the case may be after the issuance of the completion certificate for the project. The promoter shall hand over the occupancy certificate / completion certificate of the plot, as the case may be, to the allottee at the time of conveyance of the same. And in case of plotted development, where a single development completion certificate obtained by the Promoter for whole project than a copy of the same will be provided to the allottee at the time of conveyance of the same.

Appears in 3 contracts

Sources: Sale Agreement, Sale Agreement, Sale Agreement

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - Plot: The Promoter agrees and understands that timely delivery of the possession of the Plot to the allottee’s Allottee and the common areas Common Areas of the Project, if any, to the association of allottee’s or the competent authorityNotified Agency, as the case may be, and the Shared Common Facilities/Township Level Common Facilities consisting of basic infrastructure facilities of the Township like driveways, Roads, Street lighting, Power Supply and Distribution System and other facilities as described in the DPR to the agency(ies) notified by the Lessor, i.e. the Notified Agency is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas with all specificationsCommon Areas, amenities and facilities if any, of the project in place Project on (Date) [31.12.2023], unless there is a 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 Project (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for the delivery of possession of the Plot. Provided, provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee’s Allottee agrees and confirms that, in the event it becomes become 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’s Allottee the entire amount received by the Promoter from the allotment within 45 (forty-five) days from that date. The promoter Promoter shall intimate the allottee’s Allottee about such termination at least thirty (30) days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s Allottee agrees that he/ 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. It is clarified that all amounts collected as GST and deposited with the appropriate authorities concerned shall not be returned by the Promoter and the Allottee shall be free to approach the authorities concerned for refund of such GST.

Appears in 2 contracts

Sources: Sub Lease Agreement, Sub Lease Agreement

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot plot to the allottee’s allottee and the common areas to the association of allottee’s allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on (Date) 31-12-2019, 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 (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plotplot, provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 60 days from that date. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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 Promoter, upon obtaining the occupancy certificate* from the competent authority shall offer in writing the possession of the plot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of occupancy certificate. [Provided that, in the absence of local law, the conveyance deed in favour of the allottee shall be carried out by the promoter within 3 months from the date of issue of occupancy certificate]. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfilment 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 determined by the Promoter/association of allottees, as the case may be after the issuance of the completion certificate for the project. The promoter shall hand over the occupancy certificate of the apartment/plot, as the case may be, to the allottee at the time of conveyance of the same.

Appears in 2 contracts

Sources: Agreement for Sale, Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule 1Schedule for possession of the said Plot - plot- The Promoter agrees and understands that timely delivery of possession of the Plot plot to the allottee’s Allottee and the common areas to the association of allottee’s Allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on (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 Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The Allottee’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee’s Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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.

Appears in 2 contracts

Sources: Agreement for Sale, Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - Plot- The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s allottee and the common areas to the association of allottee’s allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on (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 Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The Allottee’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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 Promoter, upon obtaining the completion certificate from the competent authority shall offer in writing the possession of the Plot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of completion certificate. That the Promotor shall execute registered sale-deed of the plot within three months from the date of the completion certificate in favour of the Allottee or his nominees. The Allottee, after taking possession, agree(s) to pay the maintenance charges as determined by the Promoter/association of allottees, as the case may be after the issuance of the completion certificate for the project. The promoter shall hand over the copy of the completion certificate of the plot, to the allottee at the time of conveyance of the same. It may be understood that completion certificate is issued after the completion of the entire project by the competent authority and no completion certificate is issued for a single plot. That in case the allotee desires to take possession of the plot before issuance of the completion certificate and on payment of the entire amount the allotee may do so at his own risk as to its costs and consequences. It also

Appears in 2 contracts

Sources: Agreement for Sale, Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - The Promoter Vendor agrees and understands that timely delivery of possession of the Plot to the allottee’s and the common areas to the association of allottee’s or the competent authority, as the case may be, is the essence of the Agreement. The Promoter Vendor, based on the approved plans and specifications assures to hand over possession of the Plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on (Date) or before 16.08.2022 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 Project is delayed due to the Force Majeure conditions then the Allottee’s Vendee agrees that the Promoter Vendor shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee’s Vendee agrees and confirms that, in the event it becomes impossible for the Promoter Vendor to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter Vendor shall refund to the Allottee’s Vendee the entire amount received by the Promoter Vendor from the allotment within 45 ninety days from that datethe date of termination of Allotment. The promoter Vendor shall intimate the allottee’s Vendee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’sVendee, the Allottee’s Vendee agrees that he/ 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. 7.2 Procedure for taking possession of the Plot - The Vendor, upon obtaining the occupancy certificate/ part completion or completion certificate* from the competent authority shall offer in writing the possession of the Plot, to the Vendee in terms of this agreement to be taken within 30 days from the date of issue of such notice and the Vendor shall give possession of the Plot to the Vendee. The Vendor agrees and undertakes to indemnify the Vendee in case of failure of fulfilment of any of the provisions, formalities, documentation on part of the Vendor. The Vendee agrees to pay the maintenance charges as determined by the by the Vendor/Association of Vendees, as the case may be. The vendor on its behalf shall offer the possession to the Vendee in writing within 30 days of receiving the occupancy certificate/ part completion or completion certificate* of the project. That the physical possession of the Plot shall be given to the Vendee by the Estate Manager/Project In charge of the Project only after the Vendee provides original Possession Memo issued by the Vendor, authorizing the Estate Manager/Project In charge to hand over the physical possession to the Vendee. The Vendor shall issue such Possession Memo only after the Vendee has paid all the dues, deposited and signed all the requisite documents. Provided that where the Vendor have applied for the occupation certificate by submitting the application and all other documents with the competent authority and neither any objection nor the occupation certificate* has been received from the authority within 3 (three) months of such application, the Vendor shall offer in writing the possession of the Plot to the Vendee as stated above. Provided that where the Vendor make the offer of possession of the Plot to the Vendee but the Vendee fails to take the possession after completing all the formalities within 30 (thirty) days of such offer, the Vendee shall be liable to pay the maintenance charges as described above after the expiry of thirty days from the date of such offer of possession.

Appears in 2 contracts

Sources: Sale Agreement, Sale Agreement

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s Allottee and the common areas to the association of allottee’s allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas Common Areas with all specifications, amenities and facilities of the project Project in place on (Date) or before 31 March 2025, unless there is delay or failure due to war, flood, drought, fire, fire cyclone, earthquake or any other calamity caused by nature affecting the regular development of the real estate project Project (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided . Provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 (forty-five) days from that date. The promoter Promoter shall intimate the allottee’s Allottee about such termination at least thirty 30 (thirty) days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s Allottee agrees that he/ 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.

Appears in 2 contracts

Sources: Agreement for Sale, Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s allottee and the common areas to the association of allottee’s allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on (Date) or before 31/ 07/ 2020, 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 Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The Allottee’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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 Promoter, upon obtaining the occupancy certificate* (completion certificate from competent authority in case of plotted development, as per local laws) from the competent authority shall offer in writing the possession of the Plot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of occupancy certificate / completion certificate. [Provided that, in the absence of local law, the conveyance deed in favour of the allottee shall be carried out by the promoter within 3 months from the date of issue of occupancy certificate]. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfilment 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 determined by the Promoter/ association of allottees, as the case may be after the issuance of the completion certificate for the project. The promoter shall hand over the occupancy certificate / completion certificate of the plot, as the case may be, to the allottee at the time of conveyance of the same. And in case of plotted development, where a single development completion certificate obtained by the Promoter for whole project than a copy of the same will be provided to the allottee at the time of conveyance of the same.

Appears in 2 contracts

Sources: Sale Agreement, Sale Agreement

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s allottee and the common areas to the association of allottee’s allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on (Date) Sagar, 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 Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The Allottee’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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.

Appears in 2 contracts

Sources: Agreement for Sale, Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s allottee and the common areas to the association of allottee’s allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on (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 Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The Allottee’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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.

Appears in 2 contracts

Sources: Agreement for Sale, Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - Plot– The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s allottee and the common areas to the association of allottee’s allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along Plotalong with ready and complete common areas with all specifications, amenities and facilities of the project in place on (Date) OR before 1 August 2019 unless there is delay or failure due to war, war flood, drought, fire, fire cyclone, earthquake ear thquake or any other calamity caused by nature affecting the regular development of the real estate project ("Force Majeure"). . 7.2 If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter Prom oter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. . 7.3 The Allottee’s 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’s Allottee the entire amount received by the Promoter from the allotment allotme nt within 45 days from that date. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. . 7.4 After refund of the money paid by the Allottee’s, the Allottee’s Allottee agrees that he/ she shall not have any rights, claims cl aims etc. against the Promoter and that the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. 7.5 That the completion period mentioned here above is in respect of the particular unit and cannot be treated either as a date of completion for whole row, part of the township or township as a whole. It is however understood between the parties that the possession of various other units comprised in the project and the various common facilities planned therein sh all be ready & completed in phases. i. The Allottee agrees to take possession of the said unit, though the development of common facilities is still underway. ii. The Promoter agrees and undertakes to indemnity the Allottee in case of failure of fulfillment of a ny of the provisions, formalitiesand documentation on part of the Promoter. iii. The Allottee, after taking possession, agree(s) to pay the maintenance charges as determined by the Promoter/ association of allottees, as the case may be after taking the Possessi on of the said unit. 7.6 The promoter shall hand over the completion certificate of the Project, to the allottee as and when it is received from the competent authority .

Appears in 1 contract

Sources: Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - Plot: The Promoter agrees and understands that timely delivery of the possession of the Plot to the allottee’s Allottee and the common areas Common Areas of the Project to the association Notified Agency and the Shared Common Facilities/Township Level Common Facilities consisting of allottee’s or basic infrastructure facilities of the competent authorityTownship like driveways, Roads, Street lighting, Power Supply and Distribution System and other facilities as described in the case may beDPR to the agency(ies) notified by the Lessor, i.e. the Notified Agency is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas with all specificationsCommon Areas, amenities and facilities if any, of the project in place Project on (Date) 31 December 2023, unless there is a 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 Project (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for the delivery of possession of the Plot. Provided, provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee’s Allottee agrees and confirms that, in the event it becomes become 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’s Allottee the entire amount received by the Promoter from the allotment within 45 (forty-five) days from that date. The promoter Promoter shall intimate the allottee’s Allottee about such termination at least thirty (30) days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s Allottee agrees that he/ 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. It is clarified that all amounts collected as GST and deposited with the appropriate authorities concerned shall not be returned by the Promoter and the Allottee shall be free to approach the authorities concerned for refund of such GST.

Appears in 1 contract

Sources: Sub Lease Agreement

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s allottee and the common areas to the association of allottee’s allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas with all specifications, amenities and an d facilities of the project in place on (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 Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the [Apartment/Plot], provided that such Force F orce Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The Allottee’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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 Promoter, upon obtaining the occupancy certificate* /completion certificate from the competent authority shall offer in writing the possession of the Plot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of occupancy certificate. [Provided that, in the absence of local law, the conveyance deed in favour of the allottee shall be carried out by the promoter within 3 months from the date of issue of occupancy certificate /completion certificate ]. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfilment 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 determined by the Promoter/association of allottees, as the case may be after the issuance of the completion certificate for the project. The promoter shall hand over the occupancy certificate of the apartment/plot, as the case may be, to the allottee at the time of conveyance of the same. The Completion Certificate shall mean the Completion certificate issued in favour of the Promoter under the provisions of the Madhya Pradesh M.P. Nagar Palika (Registration of Colonisers, Terms & Conditions) Rules 1998 , with respect to the Projects falling under the Municipal Corporation, Municiplaties or Nagar Panchayat Areas and M.P. Gram Panchyat (Registration of Colonsers, Terms & Conditions) Rules 1999, wi th respect to the Porjects ▇▇▇▇▇▇ under the Village Panchayat areas.

Appears in 1 contract

Sources: Agreement for Sale (Plots)

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot [Plot] - The Promoter agrees and understands that timely delivery of possession of the Plot [Plot] to the allottee’s allottee and the common areas to the association of allottee’s allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot [Plot] along with ready and complete common areas with all specifications, amenities and facilities of the project in place on (Date) ▇▇▇▇▇▇▇ ▇▇▇▇▇ City Bhopal [DATE OF DELIVERY] , 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 Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the [Plot], provided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The Allottee’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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.

Appears in 1 contract

Sources: Sale Agreement

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot along with right to use of general common areas and limited common areas as specified in Para C above to the allottee’s Allottee(s) and the common areas to the association of allottee’s allottees or the competent authority, as the case may be, as provided under Rule 2(1)(f) of Rules, 2017, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete right to use of General common areas with all specifications, amenities and facilities of the project limited common areas as specified in place on (Date) Para C above as per agreed terms and conditions unless there is delay or failure due to war“force majeure”, floodCourt orders, droughtGovernment policy/ guidelines, firedecisions, cyclone, earthquake etc. or any other calamity caused by nature reasons whatsoever affecting the regular development of the real estate project (“Force Majeure”)project. If, however, the completion of the Project is delayed due to the Force Majeure conditions above conditions, then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The Allottee’s Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the project and the promoter abandons the project due to Force Majeure and above mentioned conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee’s , the entire amount received by the Promoter from the allotment allottee within 45 days from that dateninety days. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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 of Plot - The Promoter, upon obtaining the completion certificate or part thereof of the said colony shall offer in writing the possession of the Plot, to the Allottee(s) as per terms of this Agreement. 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 promoter shall provide copy (on demand) of completion certificate or part thereof in respect of the said colony at the time of conveyance of the same. The Allottee(s), after taking possession, agree(s) to pay the maintenance charges and holding charges as determined by the Promoter/ association of allottees/ competent authority, as the case may be. 7.3 Failure of Allottee to take Plot- Upon receiving a written intimation from the Promoter as per para 7.2, the Allottee shall take possession of the Plot from the Promoter by executing necessary indemnities, undertakings and such other documentation, and the Promoter shall give possession of the Plot to the allottee as per terms and condition of the agreement within the due date as may be provided in such notice/ intimation. In case the Allottee fails to comply with the essential documentation, undertaking, etc. or fails to take possession within the time provided in para 7.2, such Allottee shall continue to be liable to pay maintenance charges and holding charges as specified in para 7.2.

Appears in 1 contract

Sources: Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s allottee and the common areas to the association of allottee’s allottees or the competent authorityaut hority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on (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 Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the [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’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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 Promoter, upon obtaining the occupancy certificate* /completion certificate from the competent authority shall offer in writing the possession of the Plot, to the Allottee in terms of this Agreement to be taken within two months fro m the date of issue of occupancy certificate. [Provided that, in the absence of local law, the conveyance deed in favour of the allottee shall be carried out by the promoter within 3 months from the date of issue of occupancy certificate /completion certifi cate ]. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfilment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee, after taking possession, agree(s) to pay the maintenance charge s as determined by the Promoter/association of allottees, as the case may be after the issuance of the completion certificate for the project. The promoter shall hand over the occupancy certificate of the apartment/plot, as the case may be, to the allottee at the time of conveyance of the same. The Completion Certificate shall mean the Completion certificate issued in favour of the Promoter under the provisions of the Madhya Pradesh M.P. Nagar Palika (Registration of Colonisers, Terms & Conditions) Rules 19 98, with respect to the Projects falling under the Municipal Corporation, Municiplaties or Nagar Panchayat Areas and M.P. Gram Panchyat (Registration of Colonsers, Terms & Conditions) Rules 1999, with respect to the Porjects ▇▇▇▇▇▇ under the Village Panch ayat areas.

Appears in 1 contract

Sources: Agreement for Sale (Plots)

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - plot- The Promoter agrees and understands that timely delivery of possession of the Plot plot to the allottee’s Allottee and the common areas to the association of allottee’s Allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on (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 Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The Allottee’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee’s Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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 Promoter, upon obtaining the occupancy certificate* from the competent authority shall offer in writing the possession of the plot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of occupancy certificate. [Provided that, in the absence of local law, the conveyance deed in favour of the Allottee shall be carried out by the promoter within 3 months from the date of issue of occupancy certificate]. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfilment 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 determined by the Promoter/association of Allottees, as the case may be after the issuance of the completion certificate for the project. The promoter shall hand over the occupancy certificate of the 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 PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s allottee and the common areas to the association of allottee’s allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on (Date) date), unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake earthquake, unrest, non availability of essential materials or any other calamity caused by nature affecting the regular development of the real estate project (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The Allottee’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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.

Appears in 1 contract

Sources: Sale Agreement

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Apartment of Plot - The Promoter LLP agrees and understands that timely delivery of possession of the Apartment/ Plot to the allottee’s Allottee and the common areas to the association of allottee’s Maintenance Society or the competent authority, as the case may be, is the essence of the Agreement. The Promoter LLP assures to hand over handover possession of the Apartment/ Plot along with ready and complete common areas with all specifications, amenities and facilities of the project Project in place on (Date) or before 30/09/2023, 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 (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter LLP shall be entitled to the extension of time for delivery of possession of the Apartment/ Plot, provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee’s Allottee(s) agrees and confirms that, in the event it becomes impossible for the Promoter LLP to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee’s Allottee(s) the entire amount received by the Promoter LLP from the allotment Allottee with interest within 45 forty-five days from that date. The promoter LLP shall intimate the allottee’s Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s agrees Allottee agreed that he/ she shall not have any rights, claims etc. against the Promoter LLP and that the Promoter LLP shall be released and discharged from all its obligations and liabilities under this Agreement. 7.2 Procedure for taking possession- The LLP, upon obtaining the occupancy certificate from the competent authority shall offer in writing the possession of the Apartment/ Plot, to the Allottee(s) in terms of this Agreement to be taken within 2 (two) months from the date of issue of occupancy certificate. Provided that, in the absence of local law, the conveyance deed in favor of the Allottee shall be carried out by the LLP within three months from the date of issue of occupancy certificate. The LLP agrees and undertakes to indemnify the Allottee(s) in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the LLP. The Allottee(s), after taking possession, agree(s) to pay the maintenance charges as determined by the LLP / Maintenance Society, as the case may be, after the issuance of completion certificate for the Project. The LLP shall handover the occupancy certificate of the 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 PLOT. 7.1 Schedule for possession of the said Plot Plot] - The Promoter agrees and understands that timely delivery of possession of the Plot developed Plot, in the developed colony, to the allottee’s and the common areas to the association of allottee’s or the competent authority, as the case may be, allottee is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas with all specificationsdeveloped colony (Park, amenities and facilities Road, Drain, Sewer, Septic Tank, Electrification etc.) of the project in place on (Datedate) unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature affecting the regular Regular development of the real estate project (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 60 days from that date. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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.

Appears in 1 contract

Sources: Sale Agreement

POSSESSION OF THE PLOT. UNIT/APARTMENT FOR RESIDENTIAL/ COMMERCIAL/INDUSTRIAL/IT/ANY OTHER USAGE (AS THE CASE MAY BE): 7.1 Schedule for possession of the said Plot Plot/ Unit/Apartment for Residential/Commercial/ Industrial/IT/any other usage - The Promoter agrees and understands that timely delivery of possession of the Plot Plot/Unit/Apartment for Residential/Commercial/ Industrial/IT/any other usage (as the case may be) alongwith parking (if applicable) to the allottee’s Allottee(s) and the common areas to the association of allottee’s allottees or the competent authority, as the case may be, as provided under Rule 2(1)(f) of Rules, 2017, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready Plot/ Unit/Apartment for Residential/Commercial/Industrial/IT/any other usage (as the case may be) alongwith parking (if applicable) as per agreed terms and complete common areas with all specifications, amenities and facilities of the project in place on (Date) conditions unless there is delay or failure due to war“force majeure”, floodCourt orders, droughtGovernment policy/guidelines, fire, cyclone, earthquake or any other calamity caused by nature decisions affecting the regular development of the real estate project (“Force Majeure”)project. If, however, the completion of the Project is delayed due to the Force Majeure conditions above conditions, then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, which make it impossible /Unit/Apartment for Residential/Commercial/Industrial/IT/any other usage (as the contract to be implementedcase may be). The Allottee’s Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the project due to Force Majeure and above mentioned conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee’s , the entire amount received by the Promoter from the allotment allottee within 45 days from that dateninety days. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s Allottee agrees that he/ 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.

Appears in 1 contract

Sources: Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s Allottee and the common areas to the association of allottee’s Allottee or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on (Date) 31/12/20……. unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake Pandemic, consequent Lockdown or any other calamity caused by nature affecting the regular development of the real estate project (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The Allottee’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee’s Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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.

Appears in 1 contract

Sources: Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s Allottee and the common areas to the association of allottee’s Maintenance Society or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over handover possession of the Plot along with ready and complete common areas with all specifications, amenities and facilities of the project Project in place on (Date) 31.12.2027, 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 (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee’s Allottee(s) 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’s Allottee(s) the entire amount received by the Promoter from the allotment Allottee with interest within 45 forty-five days from that date. The promoter Promoter shall intimate the allottee’s Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s agrees Allottee agreed 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.

Appears in 1 contract

Sources: Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot plot to the allottee’s allottee and the common areas to the association of allottee’s allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on (Date) 31-12-2018, 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 Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plotplot, provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 60 days from that date. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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 Promoter, upon obtaining the occupancy certificate* from the competent authority shall offer in writing the possession of the plot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of occupancy certificate. [Provided that, in the absence of local law, the conveyance deed in favour of the allottee shall be carried out by the promoter within 3 months from the date of issue of occupancy certificate]. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfilment 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 determined by the Promoter/association of allottees, as the case may be after the issuance of the completion certificate for the project. The promoter shall hand over the occupancy certificate of the 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 PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s Allottee and the common areas Common Areas as specified in Schedule F to the association of allottee’s allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas Common Areas as specified in Schedule F with all specifications, amenities and facilities of the project Project in place on (Date) by ………………………….., unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake earthquake, epidemic, pandemic, lockdown or any other calamity caused by nature or any government/ court order affecting the regular development of the real estate project (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, nature which make makes it impossible for the contract to be implemented. The Allottee’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 sixty days from that date. The promoter Promoter shall intimate the allottee’s Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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.

Appears in 1 contract

Sources: Sale Agreement

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s allottee and the common areas to the association of allottee’s allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on (Date) 31-Dec-2020, 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 Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The Allottee’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 90 days from that date. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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.

Appears in 1 contract

Sources: Sale Agreement

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - The Promoter Vendor agrees and understands that timely delivery of possession of the Plot to the allottee’s and the common areas to the association of allottee’s or the competent authority, as the case may be, is the essence of the Agreement. The Promoter Vendor, based on the approved plans and specifications assures to hand over possession of the Plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on (Date) or before 31.12.2019 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 (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee’s Vendee agrees that the Promoter Vendor shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee’s Vendee agrees and confirms that, in the event it becomes impossible for the Promoter Vendor to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter Vendor shall refund to the Allottee’s Vendee the entire amount received by the Promoter Vendor from the allotment within 45 ninety days from that datethe date of termination of Allotment. The promoter Vendor shall intimate the allottee’s Vendee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’sVendee, the Allottee’s Vendee agrees that he/ 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. 7.2 Procedure for taking possession of the Plot - The Vendor, upon obtaining the occupancy certificate/ part completion or completion certificate* from the competent authority shall offer in writing the possession of the Plot, to the Vendee in terms of this agreement to be taken within three months from the date of issue of such notice and the Vendor shall give possession of the Plot to the Vendee. The Vendor agrees and undertakes to indemnify the Vendee in case of failure of fulfilment of any of the provisions, formalities, documentation on part of the Vendor. The Vendee agrees to pay the maintenance charges as determined by the by the Vendor/Association of Vendees, as the case may be. The vendor on its behalf shall offer the possession to the Vendee in writing within 30 days of receiving the occupancy certificate/ part completion or completion certificate* of the project. That the physical possession of the Plot shall be given to the Vendee by the Estate Manager/Project Incharge of the Project only after the Vendee provides original Possession Memo issued by the Vendor, authorizing the Estate Manager/Project Incharge to hand over the physical possession to the Vendee. The Vendor shall issue such Possession Memo only after the Vendee has paid all the dues, deposited and signed all the requisite documents. Provided that where the Vendor have applied for the occupation certificate by submitting the application and all other documents with the competent authority and neither any objection nor the occupation certificate* has been received from the authority within 3 (three) months of such application, the Vendor shall offer in writing the possession of the Plot to the Vendee as stated above. Provided that where the Vendor make the offer of possession of the Plot to the Vendee but the Vendee fails to take the possession after completing all the formalities within 30 (thirty) days of such offer, the Vendee shall be liable to pay the maintenance charges as described above after the expiry of thirty days from the date of such offer of possession.

Appears in 1 contract

Sources: Sale Agreement

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - plot- The Promoter agrees and understands that timely delivery of possession of the Plot plot to the allottee’s allottee and the common areas to the association of allottee’s allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on date on or before 31st December, 2024 on receipt of full payment of Rs (DateRupees ----------------------------------------------------) 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 Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plotplot, provided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The Allottee’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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.

Appears in 1 contract

Sources: Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot plot - The Promoter agrees and understands that timely delivery of possession of the Plot plot to the allottee’s Allottee and the common areas to the association of allottee’s Allottee or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on (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 Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plotplot, provided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The Allottee’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee’s Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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 Promoter, upon obtaining the full payment of the plot from the Allottee shall offer in writing the possession of the Plot, to the Allottee in terms of this Agreement to be taken within two months from the date of registration of the plot. 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, agrees to pay the maintenance charges as determined by the Promoter /association of Allottees, as the case may be after the issuance of the completion certificate for the project or up to ………………, whichever is earlier. That it shall be mandatory for the Allottee to become a member of the “SAGE GOLDEN SPRING PHASE - II & IV” maintenance society, at the time of possession of the said property, which shall be formed by the residents of “SAGE GOLDEN SPRING PHASE - II & IV” and which shall be responsible for all maintenance and security provision of the “SAGE GOLDEN SPRING PHASE – II & IV ” upto ……………………. 7.3 Failure of Allottee to take Possession of plot - Upon receiving a written intimation from the Promoter as per Para 7.2, the Allottee shall take possession of the plot from the Promoter by executing necessary indemnities, undertakings and such other documentation as prescribed in this Agreement, and the Promoter shall give possession of the plot to the Allottee. In case the Allottee fails to take possession within the time provided in para 7.2, such Allottee shall continue to be liable to pay maintenance charges as specified in para 7.2. 7.4 Possession by the Allottee – After obtaining the occupancy certificate/till …............ whichever is earlier and handing over physical possession of the plot to the Allottee, it shall be the responsibility of the Promoter to hand over the necessary documents and plans, including common areas, to the association of Allottee or the competent authority, as the case may be, as per the local laws.

Appears in 1 contract

Sources: Agreement for Sale (Without Possession)

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s allottee and the common areas to the association of allottee’s allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with proportionately ready and complete common areas with all specifications, amenities and facilities of the project in place on (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 Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the [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’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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.

Appears in 1 contract

Sources: Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s Allottee and the common areas Common Areas to the association Association of allottee’s Allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas Common Areas with all specifications, amenities and facilities of the project Project in place on (Date) , unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature nature, Court orders, Government policy/guidelines, decisions, notification, order of any authority, change in law etc. affecting the regular development of the real estate project (“Force Majeure”)project. If, however, the completion of the Project is delayed due to the Force Majeure aforesaid conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, nature which make it makes its impossible for the contract to be implemented. The Allottee’s 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’s , the entire amount received by the Promoter from the allotment within 45 sixty days from that date. The promoter Promoter shall intimate the allottee’s Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by to the Allottee’s, the Allottee’s 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.

Appears in 1 contract

Sources: Sale Agreement

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot plot - The Promoter agrees and understands that timely delivery of possession of the Plot theplot to the allottee’s allottee and the common areas to the association of allottee’s allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on (Date) 30/06/2018, 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 Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plotplot, provided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The Allottee’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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 Promoter, upon obtaining full payment of the plot from the Allottee and the completion certificate from the competent authority shall offer in writing the possession of the plot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of completion certificate. [Provided that, in the absence of local law, the conveyance deed in favour of the allottee shall be carried out by the promoter within 3 months from the date of issue 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 determined by the Promoter/association of allottees, as the case may be after the issuance of the completion certificate for the project or from 30/6/2018 onwards, whichever is earlier. The promoter shall hand over the completion certificate of the plot, as the case may be, 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, at the time of possession of the said property, 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 PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s Allottee and the common areas to the association of allottee’s Maintenance Society or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over handover possession of the Plot along with ready and complete common areas with all specifications, amenities and facilities of the project Project in place on (Date) 31.12.2025, 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 (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be shallbe entitled to the extension of time for delivery of possession of the PlotthePlot, provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee’s Allottee(s) 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’s Allottee(s) the entire amount received by the Promoter from the allotment Allottee with interest within 45 forty-five days from that date. The promoter Promoter shall intimate the allottee’s Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s agrees Allottee agreed 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 Promoter, upon obtaining the occupancy certificate from the competent authority shall offer in writing the possession of the Plot, to the Allottee(s) in terms of this Agreement to be taken within 2 (two) months from the date of issue of occupancy certificate. Provided that, in the absence of local law, the conveyance deed in favor of the Allottee shall be carried out by the Promoter within three months from the date of issue of occupancy certificate. The Promoter agrees and undertakes to

Appears in 1 contract

Sources: Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot plot to the allottee’s allottee and the common areas to the association of allottee’s allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on (Date) 31/12/2018, 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 Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plotplot, provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 60 days from that date. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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 Promoter, upon obtaining the occupancy certificate* from the competent authority shall offer in writing the possession of the plot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of occupancy certificate. [Provided that, in the absence of local law, the conveyance deed in favour of the allottee shall be carried out by the promoter within 3 months from the date of issue of occupancy certificate]. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfilment 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 determined by the Promoter/association of allottees, as the case may be after the issuance of the completion certificate for the project. The promoter shall hand over the occupancy certificate of the 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 PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s Allottee and the common areas to the association of allottee’s Maintenance Society or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over handover possession of the Plot along with ready and complete common areas with all specifications, amenities and facilities of the project Project in place on (Date) or before 20.01.2023 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 (“( "Force Majeure''). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee’s Allottee(s) 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’s Allottee(s) the entire amount received by the Promoter from the allotment Allottee with interest within 45 forty- five days from that date. The promoter Promoter shall intimate the allottee’s Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s agrees Allottee agreed 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.. For J_ 7.2 Procedure for taking possession- The Promoter, upon obtaining the occupancy certificate from the competent authority shall offer in writing the possession of the Plot, to the Allottee(s) in terms of this Agreement to be taken within 2 (two) months from the date of issue of occupancy certificate. Provided that, in the absence of local law, the conveyance deed in favor of the Allottee shall be carried out by the Promoter within three months from the date of issue of occupancy certificate. The Promoter Nandini Buildwell !"it. LId, ~1JCl~ Draft for RERA agrees and undertakes to indemnify the Allottee(s) in case of failure of fulfillment of any of the provis.ions, formalities, documentation on part of the Promoter. The AlJottee(s), after taking possession, agree(s) to pay the maintenance charges as determined by the Promoter/ Maintenance Society, as the case may be, after the issuance of completion certificate for the Project. The Promoter shall handover the occupancy certificate of the 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 PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s allottee and the common areas to the association of allottee’s allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas with all specificationson , amenities and facilities of the project in place on (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 Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The Allottee’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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.

Appears in 1 contract

Sources: Sale Agreement

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s allottee and the common areas to the association of allottee’s or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on (Date) 09/02/2020, 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 Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The Allottee’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s Allottee agrees that he/ 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.

Appears in 1 contract

Sources: Agreement for Sale

POSSESSION OF THE PLOT. APARTMENT/PLOT: 7.1 Schedule for possession of the said Plot plot [Apartment/Plot] - The Promoter agrees and understands that timely delivery of possession of the Plot plot [Apartment/Plot] to the allottee’s allottee and the common areas to the association of allottee’s allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot plot [Apartment/Plot] along with ready and complete common areas with all specifications, amenities and facilities of the 1st Phase of the project in place on (Date) 15/10/2022, 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 Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the plot [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’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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.

Appears in 1 contract

Sources: Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s Allottee and the common areas to the association of allottee’s Maintenance Society or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over handover possession of the Plot along with ready and complete common areas with all specifications, amenities and facilities of the project Project in place on (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 (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee’s Allottee(s) 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’s Allottee(s) the entire amount received by the Promoter from the allotment Allottment within 45 forty-five days from that date. The promoter Promoter shall intimate the allottee’s Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s agrees Allottee agreed 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.

Appears in 1 contract

Sources: Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s Allottee and the common areas to the association of allottee’s Maintenance Society or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over handover possession of the Plot along with ready and complete common areas with all specifications, amenities and facilities of the project Project in place on (Date) 20.01.2025 , 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 (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee’s Allottee(s) 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’s Allottee(s) the entire amount received by the Promoter from the allotment Allottee with interest within 45 forty-five days from that date. The promoter Promoter shall intimate the allottee’s Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s agrees Allottee agreed 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.

Appears in 1 contract

Sources: Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s allottee and the common areas to the association of allottee’s allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready on or before 30-06- 2023 and that of complete common areas with all specifications, amenities and facilities of the project in place on (Date) or before 30-06-2023, subject to timely execution of work by competent authority / Government agencies which fall under their scope of work unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake earthquake, epidemic, pandemic or any other calamity caused by nature affecting the regular development of the real estate project (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The Allottee’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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.

Appears in 1 contract

Sources: Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s Allottee(s) and the common areas to the association of allottee’s allottees or the competent authority, as the case may be, as provided under Rule 2(1)(f) of Rules, 2017, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready as per agreed terms and complete common areas with all specifications, amenities and facilities of the project in place on (Date) conditions unless there is delay or failure due to war“force majeure”, floodCourt orders, droughtGovernment policy/ guidelines, fire, cyclone, earthquake or any other calamity caused by nature decisions affecting the regular development of the real estate project (“Force Majeure”)project. If, however, the completion of the Project is delayed due to the Force Majeure conditions above conditions, then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The Allottee’s Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the project due to Force Majeure and above-mentioned conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee’s , the entire amount received by the Promoter from the allotment allottee within 45 days from that dateninety days. The promoter Promoter shall intimate the allottee’s Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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 of Plot - The Promoter, upon obtaining the approved demarcation-cum-zoning plan/ provision of services by the colonizer/ promoter, duly certifying/ part completion certificate, as the case may be, in respect of plotted colony shall offer in writing the possession of the plot within three months from the date of above, to the Allottee(s) as per terms of this Agreement. The Promoter agrees and undertakes to indemnify the Allottee(s) in case of failure of fulfilment of any of the provisions, formalities, documentation on part of the Promoter. The Promoter shall provide a copy (on demand) of approved demarcation- cum-zoning plan/ provision of services by the colonizer/ part completion certificate in respect of plotted development at the time of conveyance of the same. The Allottee(s), after taking possession, agree(s) to pay the maintenance charges and holding charges as determined by the Promoter/ association of allottees/ competent authority, as the case may be.

Appears in 1 contract

Sources: Sale Agreement

POSSESSION OF THE PLOT. 7.1 6.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s Allottee and the common areas to the association of allottee’s Maintenance Society or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over handover possession of the Plot along with ready and complete common areas with all specifications, amenities and facilities of the project Project in place on (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 (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee’s Allottee(s) 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’s Allottee(s) the entire amount received by the Promoter from the allotment Allottee with interest within 45 forty-five days from that date. The promoter Promoter shall intimate the allottee’s Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s agrees Allottee agreed 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.

Appears in 1 contract

Sources: Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s allottee and the common areas to the association of allottee’s allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with proportionately ready and complete common areas with all specifications, amenities and facilities of the project in place on (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 Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the [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’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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 Promoter, upon applying for the occupancy certificate*/completion certificate from the competent authority shall offer in writing the possession of the Plot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of occupancy certificate. [Provided that, in the absence of local law, the conveyance deed in favour of the allottee shall be carried out by the promoter within 3 months from the date of issue of occupancy certificate/completion certificate]. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfilment 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 determined by the Promoter/association of allottees, as the case may be after the issuance of the completion certificate for the project. The promoter shall hand over the occupancy certificate of the apartment/plot, as the case may be, to the allottee at the time of conveyance of the same. The Completion Certificate shall mean the Completion certificate issued in favour of the Promoter under the provisions of the Madhya Pradesh M.P. Nagar Palika (Registration of Colonisers, Terms & Conditions) Rules 1998, with respect to the Projects falling under the Municipal Corporation, Municiplaties or Nagar Panchayat Areas and M.P. Gram Panchyat (Registration of Colonsers, Terms & Conditions) Rules 1999, with respect to the Projects ▇▇▇▇▇▇ under the Village Panchayat areas.

Appears in 1 contract

Sources: Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Apartment of Plot - The Promoter Company agrees and understands that timely delivery of possession of the Apartment/ Plot to the allottee’s Allottee and the common areas to the association of allottee’s Maintenance Society or the competent authority, as the case may be, is the essence of the Agreement. The Promoter Company assures to hand over handover possession of the Apartment/ Plot along with ready and complete common areas with all specifications, amenities and facilities of the project Project in place on (Date) or before 31/03/2024, 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 (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter Company shall be entitled to the extension of time for delivery of possession of the Apartment/ Plot, provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee’s Allottee(s) agrees and confirms that, in the event it becomes impossible for the Promoter Company to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee’s Allottee(s) the entire amount received by the Promoter Company from the allotment Allottee with interest within 45 forty-five days from that date. The promoter Company shall intimate the allottee’s Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s agrees Allottee agreed that he/ she shall not have any rights, claims etc. against the Promoter Company and that the Promoter Company shall be released and discharged from all its obligations and liabilities under this Agreement. 7.2 Procedure for taking possession- The Company, upon obtaining the occupancy certificate from the competent authority shall offer in writing the possession of the Apartment/ Plot, to the Allottee(s) in terms of this Agreement to be taken within 2 (two) months from the date of issue of occupancy certificate. Provided that, in the absence of local law, the conveyance deed in favor of the Allottee shall be carried out by the Company within three months from the date of issue of occupancy certificate. The Company agrees and undertakes to indemnify the Allottee(s) in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Company. The Allottee(s), after taking possession, agree(s) to pay the maintenance charges as determined by the Company / Maintenance Society, as the case may be, after the issuance of completion certificate for the Project. The Company shall handover the occupancy certificate of the 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 PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s allottee and the common areas to the association of allottee’s allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot Plot] along with ready and complete common areas with all specifications, amenities and facilities of the project in place on (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 Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot], provided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The Allottee’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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 Promoter, upon obtaining the completion certificate* from the competent authority shall offer in writing the possession of the Plot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of completion certificate. [Provided that, in the absence of local law, the conveyance deed in favour of the allottee shall be carried out by the promoter within 3 months from the date of issue 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 determined by the Promoter/association of allottees, as the case may be after the issuance of the completion certificate for the project. The promoter shall hand over the completion certificate of the /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 PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s allottee and the common areas to the association of allottee’s allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas with all specificationsspecification s, amenities and facilities of the project in place on (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, proj however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the [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’s Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the project due to Force Majeure Majeur e conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee’s Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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 Promoter, upon obtaining the occupancy certificate* /completion certificate from the competent authority shall offer in writing the possession of the Plot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of occupancy certificate. [Provided that, in the absence of local law, the conveyance deed in favour of the allottee shall be carried out by the promoter within 3 months from the date of issue of occupancy certificate /completion certificate ]. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfilment 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 determined by the Promoter/association of allottees, as the case may be after the issuance of the completion certificate for the project. The promoter shall hand over the occupan cy certificate of the apartment/plot, as the case may be, to the allottee at the time of conveyance of the same. The Completion Certificate shall mean the Completion certificate issued in favour of the Promoter under the provisions of the Madhya Pradesh M. P. Nagar Palika (Registration of Colonisers, Terms & Conditions) Rules 1998 , with respect to the Projects falling under the Municipal Corporation, Municiplaties or Nagar Panchayat Areas and M.P. Gram Panchyat (Registration of Colonsers, Terms & Conditions) Rules 1999, with respect to the Porjects ▇▇▇▇▇▇ under the Village Panchayat areas.

Appears in 1 contract

Sources: Agreement for Sale (Plots)

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - The Promoter Promoters agrees and understands that timely delivery of possession of the Plot to the allottee’s Allottee and the common areas to the association of allottee’s Maintenance Society or the competent authority, as the case may be, is the essence of the Agreement. The Promoter Promoters assures to hand over handover possession of the Plot along with ready and complete common areas with all specifications, amenities and facilities of the project Project in place on (Date) or before 30/09/2020, 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 (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter Promoters shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee’s Allottee(s) agrees and confirms that, in the event it becomes impossible for the Promoter Promoters to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee’s Allottee(s) the entire amount received by the Promoter Promoters from the allotment Allottee with interest within 45 forty-five days from that date. The promoter Promoters shall intimate the allottee’s Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s agrees Allottee agreed that he/ she shall not have any rights, claims etc. against the Promoter Promoters and that the Promoter Promoters shall be released and discharged from all its obligations and liabilities under this Agreement.

Appears in 1 contract

Sources: Sale Agreement

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Apartment of Plot - The Promoter Company agrees and understands that timely delivery of possession of the Apartment/ Plot to the allottee’s Allottee and the common areas to the association of allottee’s Maintenance Society or the competent authority, as the case may be, is the essence of the Agreement. The Promoter Company assures to hand over handover possession of the Apartment/ Plot along with ready and complete common areas with all specifications, amenities and facilities of the project Project in place on (Date) or before 30/09/2023, 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 (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter Company shall be entitled to the extension of time for delivery of possession of the Apartment/ Plot, provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee’s Allottee(s) agrees and confirms that, in the event it becomes impossible for the Promoter Company to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee’s Allottee(s) the entire amount received by the Promoter Company from the allotment Allottee with interest within 45 forty-five days from that date. The promoter Company shall intimate the allottee’s Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s agrees Allottee agreed that he/ she shall not have any rights, claims etc. against the Promoter Company and that the Promoter Company shall be released and discharged from all its obligations and liabilities under this Agreement. 7.2 Procedure for taking possession- The Company, upon obtaining the occupancy certificate from the competent authority shall offer in writing the possession of the Apartment/ Plot, to the Allottee(s) in terms of this Agreement to be taken within 2 (two) months from the date of issue of occupancy certificate. Provided that, in the absence of local law, the conveyance deed in favor of the Allottee shall be carried out by the Company within three months from the date of issue of occupancy certificate. The Company agrees and undertakes to indemnify the Allottee(s) in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Company. The Allottee(s), after taking possession, agree(s) to pay the maintenance charges as determined by the Company / Maintenance Society, as the case may be, after the issuance of completion certificate for the Project. The Company shall handover the occupancy certificate of the 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 PLOT. 7.1 Schedule for possession of the said Plot - Plot: The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s Allottee(s) and the common areas to the association of allottee’s allottees or the competent authority, as the case may be, as provided under Rule 2(1)(f) of Rules, 2017, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas with all specificationswithin period of twenty four months from date of execution of this agreement plus grace period of 6 months, amenities and facilities of the project in place on (Date) unless there is delay or failure due to war“force majeure”, floodCourt orders, droughtGovernment policy/ guidelines, fire, cyclone, earthquake or any other calamity caused by nature decisions affecting the regular development of the real estate project (“Force Majeure”)project. If, however, the completion of the Project is delayed due to the Force Majeure conditions above conditions, then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The Allottee’s Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the project due to Force Majeure and above mentioned conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee’s , the entire amount received by the Promoter from the allotment allottee within 45 days from that dateninety days. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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 (A) Procedure for taking possession of Plot - The Promoter, upon obtaining the approved demarcation-cum-zoning plan/ provision of services by the promoter, duly certifying/ part completion certificate, as the case may be, in respect of plotted colony shall offer in writing the possession of the plot within three months from the date of above, to the Allottee(s) as per terms of this Agreement. The Promoter agrees and undertakes to indemnify the Allottee(s) in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The promoter shall provide a copy (on demand) of approved demarcation-cum-zoning plan/ provision of services by the colonizer/ part completion certificate in respect of plotted development at the time of conveyance of the same. The Allottee(s), after taking possession, agree(s) to pay the maintenance charges and holding charges as determined by the Promoter.

Appears in 1 contract

Sources: Buyer’s Agreement

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot [Apartment/Plot] to the allottee’s allottee and the common areas to the association of allottee’s allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot [Apartment/Plot] along with ready and complete common areas with all specifications, amenities and facilities of the project in place on (Date) _ , unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake earthquake, Lockdown or any other calamity caused by nature affecting the regular development of the real estate project (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the [Apartment/Plot], provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 60 days from that date. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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.

Appears in 1 contract

Sources: Agreement for Sale

POSSESSION OF THE PLOT. 7.1 6.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s Allottee and the common areas to the association of allottee’s Maintenance Society or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over handover possession of the Plot along with ready and complete common areas with all specifications, amenities and facilities of the project Project in place on (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 (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee’s Allottee(s) 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’s Allottee(s) the entire amount received by the Promoter from the allotment Allottee with interest within 45 forty- five days from that date. The promoter Promoter shall intimate the allottee’s Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s agrees Allottee agreed 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.

Appears in 1 contract

Sources: Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - Plot- The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee’s and the common areas to the association of allottee’s or the competent authority, as the case may be, is the essence of the Agreement. The Promoter Promoter, based on the approved plans and specifications, assures to hand over possession of the Plot along with ready and complete common areas with all specifications, amenities and facilities on or before the date of completion of the project in place on (Date) as disclosed to Authority at the time of registration of Project or such extended period as may be intimated and approved by Authority from time to time, unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake earthquake, strikes, lock-outs, action of labour unions, court cases/ decree/ stay, change of law, directions/ notifications of competent authority/ courts/ tribunals resulting in suspension of/ delay in execution of works, delay in issuance of approvals by Competent Authorities or any other causes (whether similar or dissimilar to the foregoing), shortage of energy, labour, equipment, facilities, materials or supplies, failure of transportation, or any other calamity caused by nature which are beyond the control of the Promoter affecting the regular development of the real estate project (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 ninety days from that date. The promoter shall intimate the allottee’s about such date of termination at least thirty days prior to such terminationof allotment. After refund of the money paid by the Allottee’s, the Allottee’s 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.

Appears in 1 contract

Sources: Sale Agreement

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot plot to the allottee’s allottee and the common areas to the association of allottee’s allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on (Date) 31-07-2018, 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 Project is delayed due to the Force Majeure conditions then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plotplot, provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee’s 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’s Allottee the entire amount received by the Promoter from the allotment within 45 60 days from that date. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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 Promoter, upon obtaining the occupancy certificate* from the competent authority shall offer in writing the possession of the plot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of occupancy certificate. [Provided that, in the absence of local law, the conveyance deed in favour of the allottee shall be carried out by the promoter within 3 months from the date of issue of occupancy certificate]. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfilment 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 determined by the Promoter/association of allottees, as the case may be after the issuance of the completion certificate for the project. The promoter shall hand over the occupancy certificate of the apartment/plot, as the case may be, to the allottee at the time of conveyance of the same.

Appears in 1 contract

Sources: Sale Agreement

POSSESSION OF THE PLOT. UNIT/ APARTMENT FOR RESIDENTIAL/ COMMERCIAL/ ANY OTHER USAGE (AS THE CASE MAY BE): 7.1 Schedule for possession of the said Plot Plot/ Unit/ Apartment for Residential/ Commercial/ any other usage - The Promoter agrees and understands that timely delivery of possession of the Plot Plot/ Unit/ Apartment for Residential/ Commercial/ Industrial/ IT/ any other usage (as the case may be) alongwith parking (if applicable) to the allottee’s Allottee(s) and the common areas to the association of allottee’s allottees or the competent authority, as the case may be, as provided under Rule 2(1)(f) of Rules, 2017, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready Plot/ Unit/ Apartment for Residential/ Commercial/ any other usage (as the case may be) alongwith parking (if applicable) as per agreed terms and complete common areas with all specifications, amenities and facilities of the project in place on (Date) conditions unless there is delay or failure due to war“force majeure”, floodCourt orders, droughtGovernment policy/ guidelines, fire, cyclone, earthquake or any other calamity caused by nature decisions affecting the regular development of the real estate project (“Force Majeure”)project. If, however, the completion of the Project is delayed due to the Force Majeure conditions above conditions, then the Allottee’s Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, which make it impossible Plot/ Unit/ Apartment for Residential/ Commercial/ any other usage (as the contract to be implementedcase may be). The Allottee’s Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the project due to Force Majeure and above-mentioned conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee’s , the entire amount received by the Promoter from the allotment allottee within 45 days from that dateninety days. The promoter shall intimate the allottee’s allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee’s, the Allottee’s 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 (A) Procedure for taking possession of Plot - The Promoter, upon obtaining the approved demarcation- cum-zoning plan/ provision of services by the colonizer/ promoter, duly certifying/ part completion certificate, as the case may be, in respect of plotted colony shall offer in writing the possession of the plot within three months from the date of above, to the Allottee(s) as per terms of this Agreement. The Promoter agrees and undertakes to indemnify the Allottee(s) in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The promoter shall provide a copy (on demand) of approved demarcation-cum-zoning plan/ provision of services by the colonizer/ part completion certificate in respect of plotted development [Residential/ Commercial/ any other usage (as the case may be) alongwith parking (if applicable)] at the time of conveyance of the same. The Allottee(s), after taking possession, agree(s) to pay the maintenance charges and holding charges as determined by the Promoter/ association of allottees/ competent authority, as the case may be.

Appears in 1 contract

Sources: Apartment Buyer’s Agreement

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot saidPlot - The Promoter Vendor agrees and understands that understandsthat timely delivery of possession of the Plot to the allottee’s and the common areas to the association of allottee’s or the competent authority, as the case may be, is Plotis the essence of the Agreement. The Promoter Vendor, based on the approved plans and specifications assures to hand over possession of the Plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on (Date) unless or before 31.01.2022unless 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 Project is delayed due to the Force Majeure conditions then the Allottee’s Vendee agrees that the Promoter Vendor shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee’s Vendee agrees and confirms that, in the event it becomes impossible for the Promoter Vendor to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter Vendor shall refund to the Allottee’s Vendee the entire amount received by the Promoter Vendor from the allotment within 45 ninety days from that datethe date of termination of Allotment. The promoter Vendor shall intimate the allottee’s Vendee about such termination at least thirty days prior to such termination. .After refund of the money paid by the Allottee’sVendee, the Allottee’s Vendee agrees that he/ he/she shall not have any rights, claims etc. against the Promoter Vendor and that the Promoter theVendor shall be released and discharged from all its obligations and liabilities under this Agreement. 7.2 Procedure for taking possession of the Plot- The Vendor, upon obtaining the occupancy certificate/ part completion or completion certificate* from the competent authorityshall offer in writing the possession of the Plot,to the Vendeein terms of this agreement to be taken within three months from the date ofissue of such notice and the Vendor shall give possession of the Plot to the Vendee. The Vendor agrees and undertakes to indemnify the Vendee in case of failure of fulfilment of any of the provisions, formalities, documentation on part of the Vendor. The Vendee agrees to pay the maintenance charges as determined by the by the Vendor/Association of Vendees, as the case may be. The vendor on its behalf shall offer the possession to the Vendee in writing within 30 days of receiving the occupancy certificate/ part completion or completion certificate* of the project. That the physical possession of the Plot shall be given to the Vendee by the Estate Manager/Project Incharge of the Project only after the Vendee provides original Possession Memo issued by the Vendor, authorizing the Estate Manager/Project Incharge to hand over the physical possession to the Vendee. The Vendor shall issue such Possession Memo only after the Vendee has paid all the dues, deposited and signed all the requisite documents. Provided that where the Vendor have applied for the occupation certificate by submitting the application and all other documents with the competent authority and neither any objection nor the occupation certificate* has been received from the authority within 3 (three) months of such application, the Vendor shall offer in writing the possession of the Plot to the Vendee as stated above. Provided that where the Vendor make the offer of possession of the Plot to the Vendee but the Vendee fails to take the possession after completing all the formalitieswithin 30 (thirty) days of such offer, the Vendee shall be liable to pay the maintenance charges as described above after the expiry of thirty days from the date of such offer of possession.

Appears in 1 contract

Sources: Sale Agreement