Common use of Failure of Allottee to take Possession of Residential Unit Clause in Contracts

Failure of Allottee to take Possession of Residential Unit. Upon receiving a written intimation from the Promoter as per clause 7.2, the Allottee shall take possession of the residential unit from the Promoter by executing necessary indemnities, undertakings and such other documentation as prescribed in this Agreement, and the Promoter shall give possession of the residential unit to the Allottee. In case the Allottee fails to take possession within the time provided in clause 7.2, such Allottee shall continue to be liable to pay maintenance charges as applicable. On failure of allottee to pay the instalment as per schedule given in the allotment letter, apart from paying the interest on the delayed amount, the possession of the residential unit shall be extended to the extent of period of delay in paying the defaulted amount.

Failure of Allottee to take Possession of Residential Unit. Upon receiving a written intimation from the Promoter as per clause 7.2, the Allottee shall take possession of the residential unit from the Promoter by executing necessary indemnities, undertakings and such other documentation as prescribed in this Agreement, and the Promoter shall give possession of the residential unit to the Allottee. In case the Allottee fails to take possession within the time provided in clause 7.2, such Allottee shall continue to be liable to pay maintenance charges as applicable. .On failure of allottee to pay the instalment as per schedule given in the allotment letter, apart from paying the interest on the delayed amount, the possession of the residential unit shall be extended to the extent of period of delay in paying the defaulted amount.