Common use of Possession of Unit Clause in Contracts

Possession of Unit. 7.1 The Promoter agrees and understands that timely delivery of possession of the said Unit to the Allottee and the common areas to the association of allottees or the competent authority, as the case may be, is the essence of the Agreement. 7.2 The Promoter agrees to give possession of the said Unit along with the said Car Parking Space to the Allottee on or before ___ _ day of __ _ 201 _. Provided that the Promoter shall be entitled to reasonable extension of time for giving delivery of Unit on the aforesaid date, if the completion of the said Building is delayed on account of war, civil commotion or act of God or any notice, order, rule, notification of the Government and/or other public or competent authority/court (“Force Majeure”), provided that such Force Majeure conditions are not of a nature which makes it impossible for contract to be implemented. The Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee the entire amount received by the Promoter from the allotment within sixty days from that date. The Promoter shall intimate the Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee agrees that he/ she shall not have any rights, claims etc. against the Promoter and that the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. 7.3 If the Promoter fails or neglects to give possession of the said Unit to the Allottee on account of reasons beyond his control and of his agents, by the aforesaid date or the date, then the Promoter shall be liable on demand to refund to the Allottee the amounts already received by him in respect of the said Unit with simple interest as per the applicable law. The Allottee shall have no right or claim against the Promoter except for as mentioned above. 7.4 The Promoter shall be entitled to offer possession of the said Unit upon the Promoter obtaining occupation certificate in respect of the said Buildings and as soon as the Buildings are notified by the Promoter as ready for occupation, each of the Allottee of the said Buildings(including the Allottee) shall pay their respective arrears of price payable by them within 15 (fifteen) days from the date the offer to take possession is made by the Promoter and after execution of the Conveyance Deed in favor of the Allottee in respect of the said Unit. 7.5 If the Allottee fails to pay the arrears as aforesaid, the Promoter shall be entitled to termination of this Agreement and shall also be entitled to interest at the rate as prescribed under applicable laws. 7.6 The Allottee shall take possession of the said Unit within 15 (fifteen) days of the Promoter giving written notice to the Allottee intimating that the said Unit is ready for use and occupation. In case the Allottee fails to take possession within the time provided, the Allottee shall continue to be liable to pay Maintenance Charges as applicable. 7.7 The Promoter shall not be liable for any loss caused by fire, riot, strikes, earth quakes or due to any other cause whatsoever after handing over possession of the said Unit to the Allottee. 7.8 The Allottee agrees to sign and deliver to the Promoter before and after taking possession of the said Unit all writings, papers, documents, applications, etc. as may be necessary or required by the Promoter to put the intention of the Parties as reflected herein into complete effect.

Possession of Unit. 7.1 The Promoter agrees and understands that timely delivery of Developer shall give possession of the said Unit to the Allottee and Unit Purchaser/s on or before --/--/201—after receiving all the common areas dues payable by the Unit Purchaser/s, to the association Developer, if any. However, Unit Purchaser/s will not be entitled to claim or get the possession of allottees or the competent authorityhis/her/their Unit till he/she/they rectify breach, as the case may beif any, is the essence of any of the Agreement. 7.2 terms presents. The Promoter agrees unit purchaser shall take the possession within 15 days or any additional period of days as may be allowed by the Developer from the date of intimation from the Developer that the said unit is ready for occupation, failing which the unit purchaser shall be liable to pay Rs. /- per sq.ft. per month towards the maintenance of the said unit. In pursuance of these presents if the Developer fail or neglect to give possession of the said Unit to the Unit Purchaser/s on account of reasons beyond their and/or their agents control as per the provisions of section 8 of Maharashtra Ownership Flat Act, and provisions of Real Estate (Regulations and Development) Act, then Purchaser/s shall have right to terminate this Agreement and the Developer shall be liable on demand to refund to the Purchaser the amount received by them in respect of the Unit along with interest as prescribed under the Rules i.e. the State Bank of India Highest marginal cost of lending rate plus 2 % from the date the Developer has received the sum till the date the amount and interest is repaid. If the Unit Purchaser/s does/do not intent to withdraw from the project then the Developer shall pay the interest as specified in the rule on all the amounts paid by the Unit Purchaser/s every month of delay, till the handing over the possession. The Purchaser shall take possession of the said Car Parking Space Premises within fifteen days of the Developer giving written notice to the Allottee on or before ___ _ day Purchaser intimating the said Premises is ready for use and occupation, failing which the Flat/Shop/Office Purchaser shall be liable to pay Rs. /- per sq. ft. per month towards the maintenance of __ _ 201 _the said Accommodation/Unit. Provided that the Promoter Developer shall be entitled to reasonable extension of time for giving delivery possession of said Unit on the aforesaid date, if the completion of building in which the said Building Unit is to be situated is delayed on account of warof: (i) War, civil commotion or local riots, heavy rain fall, fire, or act of God or any God. (ii) Any notice, order, rulerules, notification of the Government and/or other and / or public or competent authority/court Competent Authority including the authorities under the Urban Land (“Force Majeure”)Ceiling and Regulation) ▇▇▇, provided that such Force Majeure conditions are not ▇▇▇▇, Collector, or any disputes or matters relating to the property pending final determination by the courts or any other authorities. (iii) Changes in any rules, regulations and bye-laws of a nature which makes it impossible for contract various statutory bodies and authorities from time to be implemented. The Allottee agrees and confirms that, in time then affecting the event it becomes impossible for the Promoter to implement the project due to Force Majeure conditions, then this allotment shall stand terminated development and the Promoter shall refund project. (iv) Delay in grant of any NOC / permission / license / connection / installation of any services such as lifts, electricity & water connections and meters to the Allottee the entire amount received scheme / Flat/Shop/Office, Road NOC or Completion Certificate from appropriate Authority. (v) Delay or default in payment of dues by the Promoter from Unit Purchaser under these presents. (Without prejudice to the allotment within sixty days from that date. The Promoter shall intimate the Allottee about such termination at least thirty days prior right of Developer to such termination. After refund terminate this agreement) (vi) Pendency of any litigation. (vii) Any act beyond control of the money paid by the Allottee, the Allottee agrees that he/ she shall not have any rights, claims etc. against the Promoter and that the Promoter shall be released and discharged from all its obligations and liabilities under this AgreementDeveloper. 7.3 If the Promoter fails or neglects to give possession of the said Unit to the Allottee on account of reasons beyond his control and of his agents, by the aforesaid date or the date, then the Promoter shall be liable on demand to refund to the Allottee the amounts already received by him in respect of the said Unit with simple interest as per the applicable law. The Allottee shall have no right or claim against the Promoter except for as mentioned above. 7.4 The Promoter shall be entitled to offer possession of the said Unit upon the Promoter obtaining occupation certificate in respect of the said Buildings and as soon as the Buildings are notified by the Promoter as ready for occupation, each of the Allottee of the said Buildings(including the Allottee) shall pay their respective arrears of price payable by them within 15 (fifteen) days from the date the offer to take possession is made by the Promoter and after execution of the Conveyance Deed in favor of the Allottee in respect of the said Unit. 7.5 If the Allottee fails to pay the arrears as aforesaid, the Promoter shall be entitled to termination of this Agreement and shall also be entitled to interest at the rate as prescribed under applicable laws. 7.6 The Allottee shall take possession of the said Unit within 15 (fifteen) days of the Promoter giving written notice to the Allottee intimating that the said Unit is ready for use and occupation. In case the Allottee fails to take possession within the time provided, the Allottee shall continue to be liable to pay Maintenance Charges as applicable. 7.7 The Promoter shall not be liable for any loss caused by fire, riot, strikes, earth quakes or due to any other cause whatsoever after handing over possession of the said Unit to the Allottee. 7.8 The Allottee agrees to sign and deliver to the Promoter before and after taking possession of the said Unit all writings, papers, documents, applications, etc. as may be necessary or required by the Promoter to put the intention of the Parties as reflected herein into complete effect.