Preferential Location Charges. The Allottee hereby agrees to pay additionally towards Preferential Location Charges (PLC) for apartments located on Ground Floor to Fourth Floor, facing park/ landscape/Club and/or for corner apartments at the rate as mentioned in Annexure-III. However, the Allottee has specifically agreed that if due to a change in the lay out/ building plan or for any other reason, the said Apartment, if preferentially located, ceases to be preferentially located, the Developer shall be liable to refund only the amount of preferential location charges paid by the Allottee and such refund shall be made/ adjusted in the last installment as stated in the Schedule of Payments given in Annexure-III alongwith simple interest @8% p.a thereupon for the period the said charges have remained deposited with the Developer. If due to any change in the lay-out/ building plan or for any other reason, the said Apartment, if not preferentially located, becomes preferentially located, then the Allottee agrees to pay preferential location charges and other charges to the Developer calculated at the rate applicable for such preferential location(s) as stated hereinabove or as demanded by the Developer. If for any reason whatsoever, the Developer is not in a position or unable to provide a particular preferential location to an Allottee who has booked the apartment only for a particular preferential location, then such an allottee will be free to cancel the booking and seek refund of all the monies deposited by him/ her with the Developer and the Developer shall refund the same alongwith simple interest @8% for the period the same have remained deposited with the Developer, subject however, to deduction of non-refundable amounts such as interest on delayed payments, brokerages, administrative charges, service tax, cess deposited with the statutory authorities.
Appears in 3 contracts
Sources: Apartment Buyers Agreement, Builder Buyers Agreement, Apartment Buyers Agreement