Common use of CONVEYANCE OF THE DESIGNATED UNIT Clause in Contracts

CONVEYANCE OF THE DESIGNATED UNIT. The Promoter on receipt of the complete amount of the Price of the Unit under the Agreement from the ALLOTTEE, shall execute a Deed of Conveyance and convey the title of the Unit together with proportionate indivisible share in the Common Areas with 3 months from the date of issuance of the occupancy certificate. Provided that, the customer has to register his conveyance deed within 3 months of the intimation of completion of the Bungalow by the Developer, failing which the Developer reserves the right to cancel the allotment and refund the paid amount after deduction of cancellation charges, which is, 10% of the value of the unit. In this aspect, the decision of the developer shall be final and binding. However, in case the ALLOTTEE fail to deposit the delay payment interest, stamp duty, and/or registration charges and all other incidental and legal expenses etc. so demanded within the period mentioned in the demand letter, the ALLOTTEE authorizes the Promoter to withhold registration of the conveyance deed in his/her favour till payment of stamp duty and registration charges to the Promoter is made by the ALLOTTEE/ALLOTTEES. The Allottee shall be solely responsible and liable for compliance of the provisions of Indian Stamp Act, 1899 including any actions taken or deficiencies /penalties imposed by the competent authority (ies).

CONVEYANCE OF THE DESIGNATED UNIT. The Promoter owner on receipt of the complete amount of the Price of the Unit under the Agreement from the ALLOTTEE, shall execute a Deed of Conveyance and convey the title of the Unit together with proportionate indivisible share in the Common Areas with 3 months from the date of issuance of the occupancy certificate. Provided that, the customer has to register his conveyance deed within 3 months of the intimation of completion of the Bungalow Flat by the Developer, failing which the Developer reserves the right to cancel the allotment and refund the paid amount after deduction of cancellation charges, which is, 10% of the value of the unit. In this aspect, the decision of the developer shall be final and binding. However, in case the ALLOTTEE fail to deposit the delay payment interest, stamp duty, and/or registration charges and all other incidental and legal expenses etc. so demanded within the period mentioned in the demand letter, the ALLOTTEE authorizes the Promoter owner to withhold registration of the conveyance deed in his/her favour till payment of stamp duty and registration charges to the Promoter owner is made by the ALLOTTEE/ALLOTTEES. The Allottee shall be solely responsible and liable for compliance of the provisions of Indian Stamp Act, 1899 including any actions taken or deficiencies /penalties imposed by the competent authority (ies).

CONVEYANCE OF THE DESIGNATED UNIT. The Promoter on receipt of the complete amount of the Price of the Unit under the Agreement from the ALLOTTEE, shall execute a Deed of Conveyance and convey the title of the Unit together with proportionate indivisible share in the Common Areas with 3 months from the date of issuance of the occupancy certificate. Provided that, the customer has to register his conveyance deed within 3 months of the intimation of completion of the Bungalow APARTMENT by the Developer, failing which the Developer reserves the right to cancel the allotment and refund the paid amount after deduction of cancellation charges, which is, 10% of the value of the unit. In this aspect, the decision of the developer shall be final and binding. However, in case the ALLOTTEE fail to deposit the delay payment interest, stamp duty, and/or registration charges and all other incidental and legal expenses etc. so demanded within the period mentioned in the demand letter, the ALLOTTEE authorizes the Promoter to withhold registration of the conveyance deed in his/her favour till payment of stamp duty and registration charges to the Promoter is made by the ALLOTTEE/ALLOTTEES. The Allottee shall be solely responsible and liable for compliance of the provisions of Indian Stamp Act, 1899 including any actions taken or deficiencies /penalties imposed by the competent authority (ies).