Common use of DEEMED POSSESSION Clause in Contracts

DEEMED POSSESSION. It is understood by the Allottee that even if the Allottee fails to take possession of the Allotted Apartment within 2 months from the date such possession is offered by the Promoter under clause 7.2 above of Section-III of this agreement, the Allottee shall be deemed to have taken possession on the expiry of the period of such notice, which date, for all purposes and irrespective of the actual date when the Allottee takes physical possession of the Allotted Apartment thereafter, will be deemed to be the possession date (“Possession Date”). On and from the Possession Date: (i) The Allotted Apartment shall be at the sole risk and cost of the Allottee and the Promoter shall have no liability or concern thereof; (ii) The Allottee shall become liable to pay the Maintenance Charges, property tax and other outgoings in respect of the Allotted Apartment and the Common Areas on and from the Possession Date; (iii) All taxes, deposits and other levies/charges imposed, demanded or required to be paid to the authorities concerned relating to the undivided interest in the Common Areas shall be paid and borne by the Allottee proportionate to his interest therein and those relating only to the Allotted Apartment shall be borne solely and exclusively by the Allottee, with effect from the Possession Date. (iv) All other expenses necessary and incidental to the management and maintenance of the Project shall be paid and borne by the Allottee proportionate to his interest therein.

DEEMED POSSESSION. It is understood by the Allottee that even if the Allottee fails to take possession of the Allotted Apartment within 2 3 months from the date such possession is offered by the Promoter under clause 7.2 above of Section-III of this agreement, the Allottee shall be deemed to have taken possession on the expiry of the period of such notice, which date, for all purposes and irrespective of the actual date when the Allottee takes physical possession of the Allotted Apartment thereafter, will be deemed to be the possession date (“Possession Date”). On and from the Possession Date: (i) The Allotted Apartment shall be at the sole risk and cost of the Allottee and the Promoter shall have no liability or concern thereof; (ii) The Allottee shall become liable to pay the Maintenance Charges, property tax and other outgoings in respect of the Allotted Apartment and the Common Areas on and from the Possession Date; (iii) All taxes, deposits and other levies/charges imposed, demanded or required to be paid to the authorities concerned relating to the undivided interest in the Common Areas shall be paid and borne by the Allottee proportionate to his interest therein and those relating only to the Allotted Apartment shall be borne solely and exclusively by the Allottee, with effect from the Possession Date. (iv) All other expenses necessary and incidental to the management and maintenance of the Project shall be paid and borne by the Allottee proportionate to his interest therein.

DEEMED POSSESSION. It is understood by the Allottee that even if the Allottee fails to take possession of the Allotted Apartment within 2 months from the date such possession is offered by the Developer/Promoter under clause 7.2 above of Section-III of this agreement, the Allottee shall be deemed to have taken possession on the expiry of the period of such notice, which date, for all purposes and irrespective of the actual date when the Allottee takes physical possession of the Allotted Apartment thereafter, will be deemed to be the possession date (“Possession Date”). On and from the Possession Date: (i) The Allotted Apartment shall be at the sole risk and cost of the Allottee and the Developer/Promoter shall have no liability or concern thereof; (ii) The Allottee shall become liable to pay the Maintenance Charges, property tax and other outgoings in respect of the Allotted Apartment and the Common Areas on and from the Possession Date; (iii) All taxes, deposits and other levies/charges imposed, demanded or required to be paid to the authorities concerned relating to the undivided interest in the Common Areas shall be paid and borne by the Allottee proportionate to his interest therein and those relating only to the Allotted Apartment shall be borne solely and exclusively by the Allottee, with effect from the Possession Date. (iv) All other expenses necessary and incidental to the management and maintenance of the Project shall be paid and borne by the Allottee proportionate to his interest therein.

DEEMED POSSESSION. It is understood by the Allottee that even if the Allottee fails to take possession of the Allotted Apartment within 2 months from the date such possession is offered by the Promoter under clause 7.2 above of Section-III of this agreementPromoter, the Allottee shall be deemed to have taken possession on the expiry of 15 days from the period date of such notice, notice which date, for all purposes and irrespective of the actual date when the Allottee takes physical possession of the Allotted Apartment thereafterApartment, will be deemed to be the possession date (“Possession Date”). On and from the Possession Date: (i) : The Allotted Apartment shall be at the sole risk and cost of the Allottee and the Promoter shall have no liability or concern thereof; (ii) ; The Allottee shall become liable to pay the Maintenance Charges, property tax and other outgoings Charges in respect of the Allotted Apartment and the Common Areas on and from the Possession Date; (iii) ; All taxes, deposits and other levies/charges imposed, demanded or required to be paid to the authorities concerned relating to the undivided interest in the Common Areas shall be paid and borne by the Allottee proportionate to his interest therein and those relating only to the Allotted Apartment shall be borne solely and exclusively conclusively by the Allottee, with effect from the Possession Date. (iv) . All other expenses necessary and incidental to the management and maintenance of the Project shall be paid and borne by Project. It being also agreed between the parties that the Allottee proportionate shall also pay demurrage charges to his interest thereinthe Promoter at the rate of Rs. 5,000/- (Rupees Five Thousand) only per month or part thereof from the expiry of the time mentioned in the possession letter till such time the Allottee (s) takes the possession of the apartment.

DEEMED POSSESSION. It is understood by the Allottee that even if the Allottee fails to take possession of the Allotted Apartment within 2 months from the date such possession is offered by the Promoter under clause 7.2 above of Section-III of this agreement, the Allottee shall be deemed to have taken possession on the expiry of the period of such notice, which date, for all purposes and irrespective of the actual date when the Allottee takes physical possession of the Allotted Apartment thereafter, will be deemed to be the possession date (“Possession Date”). On and from the Possession Date: (i) The Allotted Apartment shall be at the sole risk and cost of the Allottee and the Promoter shall have no liability or concern thereof; (ii) The Allottee shall become liable to pay the Maintenance Charges, Club Subscription Charges, property tax and other outgoings in respect of the Allotted Apartment and the Common Areas on and from the Possession Date; (iii) All taxes, deposits and other levies/charges imposed, demanded or required to be paid to the authorities concerned relating to the undivided interest in the Common Areas shall be paid and borne by the Allottee proportionate to his interest therein proportionately and those relating only to the Allotted Apartment shall be borne solely and exclusively by the Allottee, with effect from the Possession Date. (iv) All other expenses necessary and incidental to the management and maintenance of the Project shall be paid and borne by the Allottee proportionate to his interest thereinproportionately.