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 Apartment within the date such possession is offered by the Promoter, the Allottee shall be deemed to have taken possession on the 15th day from the date of such notice which date, for all purposes and irrespective of the actual date when the Allottee takes physical possession of the Apartment, will be deemed to be the possession date (“Possession Date”). On and from the Possession Date: (i) The 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 including GST, if applicable in respect of the Apartment and the Common Areas on and from 3 months from the Possession Date or as agreed;