Common use of Interest Free Security Deposit Clause in Contracts

Interest Free Security Deposit. The Allottee shall pay over and above the monthly running Maintenance Charges, an amount calculated at the rate of Rs 20 (twenty) per sq ft of the Apartment Area towards the Interest Free Security Deposit (“IFSD”) to the Developer on or before the Possession Date. The said IFSD shall be kept with the Developer/Association in order to secure adequate provision of the maintenance services and due performance of the Allottee in promptly paying the maintenance bills and other charges as may be raised by the Developer/Association. The unused portion of such shall be transferred by the Developer to the Association without interest when incorporated.

Interest Free Security Deposit. The Allottee shall pay over and above the monthly running Maintenance Charges, an amount calculated at the rate of Rs 20 1.50 (twentyOne Rupees and Fifty Paisa) per sq ft of the Apartment Area towards the Interest Free Security Deposit (“IFSD”) to the Developer on or before the Possession Date. The said IFSD shall be kept with the Developer/Association in order to secure adequate provision of the maintenance services and due performance of the Allottee in promptly paying the maintenance bills and other charges as may be raised by the Developer/Association. The unused portion of such shall be transferred by the Developer to the Association without interest when incorporated.

Interest Free Security Deposit. The Allottee shall pay over and above the monthly running Maintenance Charges, an amount calculated at the rate of Rs 20 18 (twentyeighteen) per sq ft of the Apartment Area towards the Interest Free Security Deposit (“IFSD”) to the Developer on or before the Possession Date. The said IFSD shall be kept with the Developer/Association in order to secure adequate provision of the maintenance services and due performance of the Allottee in promptly paying the maintenance bills and other charges as may be raised by the Developer/Association. The unused portion of such shall be transferred by the Developer to the Association without interest when incorporated.

Interest Free Security Deposit. The Allottee shall pay over and above the monthly running Maintenance Charges, an amount calculated at the rate of Rs 20 1.50 (twentyOne Rupees and Fifty Paisa) per sq ft per month of the Apartment Area towards the Interest Free Security Deposit (“IFSD”) to the Developer on or before the Possession Date. The said IFSD shall be kept with the Developer/Association in order to secure adequate provision of the maintenance services and due performance of the Allottee in promptly paying the maintenance bills and other charges as may be raised by the Developer/Association. The unused portion of such shall be transferred by the Developer to the Association without interest when incorporated.