NOMINATION BY ALLOTTEE WITH CONSENT. The Allottee admits and accepts that before the execution and registration of conveyance deed of the Apartment, the Allottee will be entitled to nominate, assign and/or transfer the Allottee‟s right, title, interest and obligations under this Agreement only with the written consent of the Promoter (which consent the Promoter may refuse to grant without assigning any reason whatsoever) on payment of Rs. 100/- (Rupees One hundred only) per square feet on super built up area plus GST as Nomination Charge to the Promoter or such other fee / charge as may be decided and/or made applicable from time to time by the Promoter in its absolute discretion for such transfer subject to the covenant by the nominee that the nominee will strictly adhere to the terms of this Agreement and subject also to the following conditions: i. The Allottee shall make payment of all dues in terms of this Agreement, up to the time of nomination and the Promoter shall consent to such nomination transfer or alienation only upon being paid the fee / charge as aforesaid; ii. The Allottee cannot sell and/or nominate the Apartment to and in favour of any third person before the expiry of a period of 12 (twelve) months from the date of this Agreement (“Lock-in Period”). iii. The Allottee shall have previously informed the Promoter in writing of the full particulars of such nominee / transferee; iv. The Allottee shall obtain prior written permission of the Promoter and the Allottee and the nominee shall be bound to enter into a tripartite agreement with the Owners and the Promoter. v. Any such nomination assignment transfer or alienation shall be subject to the terms conditions agreements and covenants contained hereunder and on the part of the Buyer to be observed fulfilled and performed; vi. It is clarified that any change in the control or ownership of the Allottee (if being a Company or a partnership or an LLP) shall come within the purview of such nomination / assignment / transfer and be subject to the above conditions. vii. The Allottee admits and accepts that the Allottee shall not nominate or assign the rights under this Agreement save in the manner indicated above. It is clarified that inclusion of a new joint Allottee or change of a joint Allottee shall be treated as a transfer unless such joint Allottee is a mother or father or spouse or child of the original Allottee. Any nomination/transfer/made in contravention/ violation of conditions mentioned herein, shall be void ab-initio.
Appears in 3 contracts
Samples: Agreement for Sale, Agreement for Sale, Agreement for Sale
NOMINATION BY ALLOTTEE WITH CONSENT. The Allottee admits and accepts that after the Lock in period, as mentioned below, and before the execution and registration of conveyance deed of the said Apartment, the Allottee (subject to the following conditions) will be entitled to nominate, assign and/or transfer the Allottee‟s Allottee’s right, title, interest and obligations under this Agreement only with the written consent of the Promoter (which consent the Promoter may refuse to grant without assigning any reason whatsoever) on payment of Rs. 100/- (Rupees One hundred only) per square feet on super built up area plus GST as Nomination Charge subject, however, to the Promoter or such other fee / charge as may be decided and/or made applicable from time nominee agreeing to time by the Promoter in its absolute discretion for such transfer subject to the covenant by the nominee that the nominee will strictly adhere to the terms of this Agreement and subject also to the following conditions:Agreement
i. (a) The Allottee shall make payment of all dues dues, including any interest for delay, to the Developer in terms of this Agreement, up to the time of nomination and the Promoter shall consent to such nomination transfer or alienation only upon being paid the fee / charge as aforesaid;nomination.
ii. (b) The Allottee cannot sell and/or nominate the Apartment to and in favour of any third person party before the expiry of a period of 12 (twelveTwelve) months from the date of this Agreement (“Lock-in Period”)Agreement.
iii. The Allottee shall have previously informed (c) In respect of any nomination, the Promoter in writing of the full particulars of such nominee / transferee;
iv. The Allottee shall obtain prior written permission of the Promoter Developer and the Allottee and the nominee shall be bound to enter into a tripartite agreement with the Owners Developer and the PromoterAllottee.
v. Any such (d) The Allottee shall pay a sum calculated @ 2.5 % of the Total Price of the Apartment as mentioned in this Agreement plus applicable taxes, as and by way of nomination assignment transfer or alienation shall be subject fees to the terms conditions agreements and covenants contained hereunder and on the part of the Buyer to be observed fulfilled and performed;
viDeveloper. It is clarified that any inclusion of a new joint allottee or change of a joint allottee shall be treated as a nomination. The nomination fees, however, shall not be payable in the control case of nomination in favour of parents, spouse or ownership children of the Allottee. Any additional income tax liability that may become payable by the Developer due to nomination by the Allottee (if being a Company or a partnership or an LLP) shall come within because of higher market valuation as per the purview registration authorities on the date of such nomination / assignment / transfer and and/or the extra registration fees to be subject paid to the above conditions.
viiregistration authorities due to nomination, shall be compensated by the Allottee paying to the Developer agreed compensation equivalent to the income tax payable on such difference at the highest applicable tax rate at the prevailing time or the estimated extra registration fees. Such amount shall be payable by the Allottee on or before nomination. The Allottee admits and accepts that the Allottee shall not be entitled to nominate or assign the Allottee’s rights under this Agreement save in the manner indicated above.
1. It is clarified that inclusion of a new joint Allottee or change of a joint Allottee shall be treated The entire land comprised in the said Premises
2. The driveway within the Building 3. Common DG set as a transfer unless such joint Allottee is a mother or father or spouse or child of identified by the original AllotteeDeveloper 4. Any nomination/transfer/made in contravention/ violation of conditions mentioned herein, shall be void ab-initio.Common Guard Room as identified by the Developer
Appears in 1 contract
Samples: Sale Agreement
NOMINATION BY ALLOTTEE WITH CONSENT. 1. The Allottee admits and accepts that after the Lock in period, as mentioned below, and before the execution and registration of conveyance deed of the said Apartment, the Allottee (subject to the following conditions) will be entitled to nominate, assign and/or transfer the Allottee‟s Allottee’s right, title, interest and obligations under this Agreement only with the written consent of the Promoter (which consent the Promoter may refuse to grant without assigning any reason whatsoever) on payment of Rs. 100/- (Rupees One hundred only) per square feet on super built up area plus GST as Nomination Charge subject, however, to the Promoter or such other fee / charge as may be decided and/or made applicable from time nominee agreeing to time by the Promoter in its absolute discretion for such transfer subject to the covenant by the nominee that the nominee will strictly adhere to the terms of this Agreement and subject also to the following conditions:Agreement.
i. 2. The Allottee shall make payment of all dues dues, including any interest for delay, to the Owner in terms of this Agreement, up to the time of nomination and the Promoter shall consent to such nomination transfer or alienation only upon being paid the fee / charge as aforesaid;nomination.
ii3. The Allottee cannot sell and/or nominate the Apartment to and in favour of any third person party before the expiry of a period of 12 15 (twelveFifteen) months from the date of this Agreement (“Lock-in Period”)Agreement.
iii4. The Allottee shall have previously informed In respect of any nomination, the Promoter in writing of the full particulars of such nominee / transferee;
iv. The Allottee shall obtain prior written permission of the Promoter Owner and the Allottee and the nominee shall be bound to enter into a tripartite agreement with the Owners Owner and the PromoterAllottee.
v. Any 5. The Allottee shall pay a sum calculated @ Rs. 100/- per sq ft plus applicable GST on such nomination assignment transfer or alienation shall be subject on super built up area of the Apartment as mentioned in this Agreement plus applicable taxes, as and by way of nomination fees to the terms conditions agreements and covenants contained hereunder and on the part of the Buyer to be observed fulfilled and performed;
viOwner. It is clarified that any inclusion of a new joint allottee or change of a joint allottee shall be treated as a nomination. The nomination fees, however, shall not be payable in the control case of nomination in favour of parents, spouse or ownership children of the Allottee. Any additional income tax liability that may become payable by the Owner due to nomination by the Allottee (if being a Company or a partnership or an LLP) shall come within because of higher market valuation as per the purview registration authorities on the date of such nomination / assignment / transfer and and/or the extra registration fees to be subject paid to the above conditions.
viiregistration authorities due to nomination, shall be compensated by the Allottee paying to the Owner agreed compensation equivalent to the income tax payable on such difference at the highest applicable tax rate at the prevailing time or the estimated extra registration fees. Such amount shall be payable by the Allottee on or before nomination. The Allottee admits and accepts that the Allottee shall not be entitled to nominate or assign the Allottee’s rights under this Agreement save in the manner indicated above.
6. It is clarified The Allottee undertakes that inclusion of a new joint Allottee or change of a joint the Allottee shall be treated as a transfer unless such joint Allottee is a mother or father or spouse or child of have no objection to the original Allottee. Any nomination/transfer/made Owner making any additional construction and/or extending the Project by adding future land and/or added area and/or future addition on the existing construction, if the Owner, in contravention/ violation of conditions mentioned herein, shall be void ab-initiofuture decides to do so.
Appears in 1 contract
Samples: Sale Agreement
NOMINATION BY ALLOTTEE WITH CONSENT. The Allottee admits and accepts that after the Lock in period, as mentioned below, and before the execution and registration of conveyance deed of the said Apartment, the Allottee (subject to the following conditions) will be entitled to nominate, assign and/or transfer the Allottee‟s Allottee’s right, title, interest and obligations under this Agreement only with the written consent of the Promoter (which consent the Promoter may refuse to grant without assigning any reason whatsoever) on payment of Rs. 100/- (Rupees One hundred only) per square feet on super built up area plus GST as Nomination Charge subject, however, to the Promoter or such other fee / charge as may be decided and/or made applicable from time nominee agreeing to time by the Promoter in its absolute discretion for such transfer subject to the covenant by the nominee that the nominee will strictly adhere to the terms of this Agreement and subject also to the following conditions:Agreement
i. (a) The Allottee shall make payment of all dues dues, including any interest for delay, to the Promoter in terms of this Agreement, up to the time of nomination and the Promoter shall consent to such nomination transfer or alienation only upon being paid the fee / charge as aforesaid;nomination.
ii. (b) The Allottee cannot sell and/or nominate the Apartment to and in favour of any third person party before the expiry of a period of 12 (twelveTwelve) months from the date of this Agreement (“Lock-in Period”)Agreement.
iii. The Allottee shall have previously informed (c) In respect of any nomination, the Promoter in writing of the full particulars of such nominee / transferee;
iv. The Allottee shall obtain prior written permission of the Promoter and the Allottee and the nominee shall be bound to enter into a tripartite agreement with the Owners Promoter and the PromoterAllottee.
v. Any such (d) The Allottee shall pay a sum calculated @ 2% of the Total Price of the Apartment as mentioned in this Agreement or the Nomination Price whichever is higher, plus applicable taxes, as and by way of nomination assignment transfer or alienation shall be subject fees to the terms conditions agreements and covenants contained hereunder and on the part of the Buyer to be observed fulfilled and performed;
viPromoter. It is clarified that any inclusion of a new joint allottee or change of a joint allottee shall be treated as a nomination. The nomination fees, however, shall not be payable in the control case of nomination in favour of parents, spouse or ownership children of the Allottee. Any additional income tax liability that may become payable by the Promoter due to nomination by the Allottee (if being a Company or a partnership or an LLP) shall come within because of higher market valuation as per the purview registration authorities on the date of such nomination / assignment / transfer and and/or the extra registration fees to be subject paid to the above conditions.
viiregistration authorities due to nomination, shall be compensated by the Allottee paying to the Promoter agreed compensation equivalent to the income tax payable on such difference at the highest applicable tax rate at the prevailing time or the estimated extra registration fees. Such amount shall be payable by the Allottee on or before nomination. The Allottee admits and accepts that the Allottee shall not be entitled to nominate or assign the Allottee’s rights under this Agreement save in the manner indicated above. It is clarified that inclusion of a new joint Allottee or change of a joint Allottee shall be treated as a transfer unless such joint Allottee is a mother or father or spouse or child of the original Allottee. Any nomination/transfer/made in contravention/ violation of conditions mentioned herein, shall be void ab-initio.
Appears in 1 contract
Samples: Sale Agreement
NOMINATION BY ALLOTTEE WITH CONSENT. The Allottee admits and accepts that after the Lock in period, as mentioned below, and before the execution and registration of conveyance deed of the Apartmentsaid Unit, the Allottee (subject to the following conditions) will be entitled to nominate, assign and/or transfer the Allottee‟s Allottee’s right, title, interest and obligations under this Agreement only with the written consent of the Promoter (which consent the Promoter may refuse to grant without assigning any reason whatsoever) on payment of Rs. 100/- (Rupees One hundred only) per square feet on super built up area plus GST as Nomination Charge subject, however, to the Promoter or such other fee / charge as may be decided and/or made applicable from time nominee agreeing to time by the Promoter in its absolute discretion for such transfer subject to the covenant by the nominee that the nominee will strictly adhere to the terms of this Agreement and subject also to the following conditions:
i. Agreement. The Allottee shall make payment of all dues dues, including any interest for delay, to the Owner in terms of this Agreement, up to the time of nomination and the Promoter shall consent to such nomination transfer or alienation only upon being paid the fee / charge as aforesaid;
iinomination. The Allottee cannot sell and/or nominate the Apartment to and in favour of any third person party before the expiry of a period of 12 15 (twelveFifteen) months from the date of this Agreement (“Lock-in Period”).
iiiAgreement. The Allottee shall have previously informed In respect of any nomination, the Promoter in writing of the full particulars of such nominee / transferee;
iv. The Allottee shall obtain prior written permission of the Promoter Owner and the Allottee and the nominee shall be bound to enter into a tripartite agreement with the Owners Owner and the Promoter.
v. Any such Allottee. The Allottee shall pay a sum calculated @ Rs. 100/- per sq ft on super built up area of the Unit as mentioned in this Agreement plus applicable taxes, as and by way of nomination assignment transfer or alienation shall be subject fees to the terms conditions agreements and covenants contained hereunder and on the part of the Buyer to be observed fulfilled and performed;
viOwner. It is clarified that any inclusion of a new joint allottee or change of a joint allottee shall be treated as a nomination. The nomination fees, however, shall not be payable in the control case of nomination in favour of parents, spouse or ownership children of the Allottee. Any additional income tax liability that may become payable by the Owner due to nomination by the Allottee (if being a Company or a partnership or an LLP) shall come within because of higher market valuation as per the purview registration authorities on the date of such nomination / assignment / transfer and and/or the extra registration fees to be subject paid to the above conditions.
viiregistration authorities due to nomination, shall be compensated by the Allottee paying to the Owner agreed compensation equivalent to the income tax payable on such difference at the highest applicable tax rate at the prevailing time or the estimated extra registration fees. Such amount shall be payable by the Allottee on or before nomination. The Allottee admits and accepts that the Allottee shall not be entitled to nominate or assign the Allottee’s rights under this Agreement save in the manner indicated above. It is clarified The Allottee undertakes that inclusion of a new joint Allottee or change of a joint the Allottee shall be treated as a transfer unless such joint Allottee is a mother or father or spouse or child of have no objection to the original Allottee. Any nomination/transfer/made Owner making any additional construction and/or extending the Project by adding future land and/or added area and/or future addition on the existing construction, if the Owner, in contravention/ violation of conditions mentioned herein, shall be void ab-initiofuture decides to do so.
Appears in 1 contract
Samples: Sale Agreement
NOMINATION BY ALLOTTEE WITH CONSENT. The Allottee admits and accepts that after the Lock in period, as mentioned below, and before the execution and registration of conveyance deed of the ApartmentSaid Property, the Allottee (subject to the following conditions) will be entitled to nominate, assign and/or transfer the Allottee‟s Allottee’s right, title, interest and obligations under this Agreement only with the written consent of the Promoter (which consent the Promoter may refuse to grant without assigning any reason whatsoever) on payment of Rs. 100/- (Rupees One hundred only) per square feet on super built up area plus GST as Nomination Charge subject, however, to the Promoter or such other fee / charge as may be decided and/or made applicable from time nominee agreeing to time by the Promoter in its absolute discretion for such transfer subject to the covenant by the nominee that the nominee will strictly adhere to the terms of this Agreement and subject also to the following conditions:Agreement
i. (a) The Allottee shall make payment of all dues dues, including any interest for delay, to the Promoter in terms of this Agreement, up to the time of nomination and the Promoter shall consent to such nomination transfer or alienation only upon being paid the fee / charge as aforesaid;nomination.
ii. (b) The Allottee cannot sell and/or nominate the Apartment to and in favour of any third person party before the expiry of a period of 12 (twelveTwelve) months from the date of this Agreement (“Lock-in Period”)Agreement.
iii. The Allottee shall have previously informed (c) In respect of any nomination, the Promoter in writing of the full particulars of such nominee / transferee;
iv. The Allottee shall obtain prior written permission of the Promoter and the Allottee and the nominee shall be bound to enter into a tripartite agreement with the Owners Promoter and the PromoterAllottee.
v. Any such (d) The Allottee shall pay a sum calculated @ 4% of the Total Price of the Said Property as mentioned in this Agreement or the Nomination Price whichever is higher, plus applicable taxes, as and by way of nomination assignment transfer or alienation shall be subject fees to the terms conditions agreements and covenants contained hereunder and on the part of the Buyer to be observed fulfilled and performed;
viPromoter. It is clarified that any inclusion of a new joint allottee or change of a joint allottee shall be treated as a nomination. The nomination fees, however, shall not be payable in the control case of nomination in favour of parents, spouse or ownership children of the Allottee. Any additional income tax liability that may become payable by the Promoter due to nomination by the Allottee (if being a Company or a partnership or an LLP) shall come within because of higher market valuation as per the purview registration authorities on the date of such nomination / assignment / transfer and and/or the extra registration fees to be subject paid to the above conditions.
viiregistration authorities due to nomination, shall be compensated by the Allottee paying to the Promoter agreed compensation equivalent to the income tax payable on such difference at the highest applicable tax rate at the prevailing time or the estimated extra registration fees (in addition to the nomination charges). Such amount shall be payable by the Allottee on or before nomination. The Allottee admits and accepts that the Allottee shall not be entitled to nominate or assign the Allottee’s rights under this Agreement save in the manner indicated above. It is clarified that inclusion of a new joint Allottee or change of a joint Allottee shall be treated as a transfer unless such joint Allottee is a mother or father or spouse or child of the original Allottee. Any nomination/transfer/made in contravention/ violation of conditions mentioned herein, shall be void ab-initio.
Appears in 1 contract
Samples: Sale Agreement
NOMINATION BY ALLOTTEE WITH CONSENT. The Allottee admits and accepts that before the execution and registration of conveyance deed of the Apartment, the Allottee will be entitled to nominate, assign and/or transfer the Allottee‟s right, title, interest and obligations under this Agreement only with the written consent of the Promoter (which consent the Promoter may refuse to grant without assigning any reason whatsoever) on payment of Rs. 100/- (Rupees One hundred only) per square feet on super built up area plus GST as Nomination Charge to the Promoter or such other fee / charge as may be decided and/or made applicable from time to time by the Promoter in its absolute discretion for such transfer subject to the covenant by the nominee that the nominee will strictly adhere to the terms of this Agreement and subject also to the following conditions:
i. The Allottee shall make payment of all dues in terms of this Agreement, up to the time of nomination and the Promoter shall consent to such nomination transfer or alienation only upon being paid the fee / charge as aforesaid;
ii. The Allottee cannot sell and/or nominate the Apartment to and in favour of any third person before the expiry of a period of 12 (twelve) months from the date of this Agreement (“Lock-in Period”).
iii. The Allottee shall have previously informed the Promoter in writing of the full particulars of such nominee / transferee;
iv. The Allottee shall obtain prior written permission of the Promoter and the Allottee and the nominee shall be bound to enter into a tripartite agreement with the Owners and the Promoter.
v. Any such nomination assignment transfer or alienation shall be subject to the terms conditions agreements and covenants contained hereunder and on the part of the Buyer to be observed fulfilled and performed;
vi. It is clarified that any change in the control or ownership of the Allottee (if being a Company or a partnership or an LLP) shall come within the purview of such nomination / assignment / transfer and be subject to the above conditions.
vii. The Allottee admits and accepts that the Allottee shall not nominate or assign the rights under this Agreement save in the manner indicated above. It is clarified that inclusion of a new joint Allottee or change of a joint Allottee shall be treated as a transfer unless such joint Allottee is a mother or father or spouse or child of the original Allottee. Any nomination/transfer/made in contravention/ violation of conditions mentioned herein, shall be void ab-initio. X. X. Xxxxxxxx No. 3772 and 3773 (formerly in LR Khatian No. 608 and corresponding to X.X. Xxxxxxx No. 390) Mouza- Xxxxxxxx, X.X. Xx. 187, Police Station and Registration Office- Medinipur District- Paschim Medinipur within the local limits of Midnapore Municipality and in Xxxx No. 09 thereof and having being assigned Assessment No. 2310002326103, Old No. 14405, and Holding No. 1110. Butted and bounded as follows: On the North : By Two Storied house of Xxxxxxx Xxxxxxx and Xxxxx Xxxxxxx On the South : By Two Storied House of Xxxxxxx Xxxxxxxxx; On the East : By 23’.3’’Municipal Road On the West : By Three Storied House of Xxxxxx Xxxxx.
(a) The Said Apartment, being Residential Apartment No. , on the floor, having carpet area of ( ) square feet, more or less in the Said Project (namely Vrindaban Gardens). The layout of the Said Apartment is delineated in Red colour on the Plan annexed hereto and marked as Annexure “1 ”;
(b) The Said Parking Space, being the right to park …….(…….) medium sized car bearing parking space no. ………………., admeasuring …… (… ) square feet, in the Said Project; and
(c) The Share In Common Areas, being the undivided, impartible, proportionate and variable share and/or interest in the Common Areas of the Real Estate Project described in Schedule E below, as be attributable and appurtenant to the Said Apartment, subject to the terms and conditions of this Agreement. The Unit Price (excluding Goods & Service Tax) for the Said Apartment based on the carpet area is Rs /- (Rupees: ) and part of the Extra Charge so far computed is Rs. /- (Rupees ) and the Goods and Service Taxes is Rs. /- (Rupees ) aggregating to Rs. /- (Rupees ) ("Total Price"). The Allottees, in terms of the table below, shall pay to the Promoter the entirety of the Extra Charges as and when demanded, with GST and other Taxes, if any, thereon:
Appears in 1 contract
Samples: Agreement for Sale
NOMINATION BY ALLOTTEE WITH CONSENT. 1. The Allottee admits and accepts that after the Lock in period, as mentioned below, and before the execution and registration of conveyance deed of the said Apartment, the Allottee (subject to the following conditions) will be entitled to nominate, assign and/or transfer the Allottee‟s right, title, interest and obligations under this Agreement only with the written consent of the Promoter (which consent the Promoter may refuse subject, however, to grant without assigning any reason whatsoever) on payment of Rs. 100/- (Rupees One hundred only) per square feet on super built up area plus GST as Nomination Charge t he nominee agreeing to the Promoter or such other fee / charge as may be decided and/or made applicable from time to time by the Promoter in its absolute discretion for such transfer subject to the covenant by the nominee that the nominee will strictly adhere to the terms of this Agreement and subject also to the following conditions:Agreement;
i. 2. The Allottee shall make payment of all dues dues, including any interest for delay, to the Promoter in terms of this Agreement, up to the time of nomination and the Promoter shall consent to such nomination transfer or alienation only upon being paid the fee / charge as aforesaid;nomination.
ii3. The Allottee cannot sell and/or nominate the Apartment to and in favour of any third person party before the expiry of a period of 12 (twelveTwelve) months from the date of this Agreement (“Lock-in Period”)Agreement.
iii4. The Allottee shall have previously informed In respect of any nomination, the Promoter in writing of the full particulars of such nominee / transferee;
iv. The Allottee shall obtain prior written permission of the Promoter and the Allottee and the nominee shall be bound to enter into a tripartite agreement with the Owners Promoter and the PromoterAllottee.
v. Any such 5. The Allottee shall pay a sum calculated @ 2% of the Total Price of the Apartment as mentioned in this Agreement or the Nomination Price whichever is higher, plus applicable taxes, as and by way of nomination assignment transfer or alienation shall be subject fees to the terms conditions agreements and covenants contained hereunder and on the part of the Buyer to be observed fulfilled and performed;
viPromoter. It is clarified that any inclusion of a new joint allottee or change of a joint allottee shall be treated as a nomination. The nomination fees, however, shall not be payable in the control case of nomination in favour of parents, spouse or ownership children of the Allottee. Any additional income tax liability that may become payable by the Promoter due to nomination by the Allottee (if being a Company or a partnership or an LLP) shall come within because of higher market valuation as per the purview registration authorities on the date of such nomination / assignment / transfer and and/or the extra registration fees to be subject paid to the above conditions.
viiregistration authorities due to nomination, shall be compensated by the Allottee paying to the Promoter agreed compensation equivalent to the income tax payable on such difference at the highest applicable tax rate at the prevailing time or the estimated extra registration fees. Such amount shall be payable by the Allottee on or before nomination. The Allottee admits and accepts that the Allottee shall not be entitled to nominate or assign the Allottee‟s rights under this Agreement save in the manner indicated above. It is clarified that inclusion of a new joint Allottee or change of a joint Allottee shall be treated as a transfer unless such joint Allottee is a mother or father or spouse or child of the original Allottee. Any nomination/transfer/made in contravention/ violation of conditions mentioned herein, shall be void ab-initio.
Appears in 1 contract
Samples: Sale Agreement
NOMINATION BY ALLOTTEE WITH CONSENT. The Allottee admits and accepts that after the Lock in period, as mentioned below, and before the execution and registration of conveyance deed of the said Apartment, the Allottee (subject to the following conditions) will be entitled to nominate, assign and/or transfer the Allottee‟s right, title, interest and obligations under this Agreement only with the written consent of the Promoter (which consent the Promoter may refuse to grant without assigning any reason whatsoever) on payment of Rs. 100/- (Rupees One hundred only) per square feet on super built up area plus GST as Nomination Charge subject, however, to the Promoter or such other fee / charge as may be decided and/or made applicable from time nominee agreeing to time by the Promoter in its absolute discretion for such transfer subject to the covenant by the nominee that the nominee will strictly adhere to the terms of this Agreement and subject also to the following conditions:Agreement
i. (a) The Allottee shall make payment of all dues dues, including any interest for delay, to the Developer in terms of this Agreement, up to the time of nomination and the Promoter shall consent to such nomination transfer or alienation only upon being paid the fee / charge as aforesaid;nomination.
ii. (b) The Allottee cannot sell and/or nominate the Apartment to and in favour of any third person party before the expiry of a period of 12 (twelveTwelve) months from the date of this Agreement (“Lock-in Period”)Agreement.
iii. The Allottee shall have previously informed (c) In respect of any nomination, the Promoter in writing of the full particulars of such nominee / transferee;
iv. The Allottee shall obtain prior written permission of the Promoter Developer and the Allottee and the nominee shall be bound to enter into a tripartite agreement with the Owners Developer and the PromoterAllottee.
v. Any such (d) The Allottee shall pay a sum calculated @ 2.5 % of the Total Price of the Apartment as mentioned in this Agreement plus applicable taxes, as and by way of nomination assignment transfer or alienation shall be subject fees to the terms conditions agreements and covenants contained hereunder and on the part of the Buyer to be observed fulfilled and performed;
viDeveloper. It is clarified that any inclusion of a new joint allottee or change of a joint allottee shall be treated as a nomination. The nomination fees, however, shall not be payable in the control case of nomination in favour of parents, spouse or ownership children of the Allottee. Any additional income tax liability that may become payable by the Developer due to nomination by the Allottee (if being a Company or a partnership or an LLP) shall come within because of higher market valuation as per the purview registration authorities on the date of such nomination / assignment / transfer and and/or the extra registration fees to be subject paid to the above conditions.
viiregistration authorities due to nomination, shall be compensated by the Allottee paying to the Developer agreed compensation equivalent to the income tax payable on such difference at the highest applicable tax rate at the prevailing time or the estimated extra registration fees. Such amount shall be payable by the Allottee on or before nomination. The Allottee admits and accepts that the Allottee shall not be entitled to nominate or assign the Allottee‟s rights under this Agreement save in the manner indicated above.
1. It is clarified that inclusion of a new joint Allottee or change of a joint Allottee shall be treated The entire land comprised in the said Premises
2. The driveway within the Building 3. Common DG set as a transfer unless such joint Allottee is a mother or father or spouse or child of identified by the original AllotteeDeveloper 4. Any nomination/transfer/made in contravention/ violation of conditions mentioned herein, shall be void ab-initio.Common Guard Room as identified by the Developer
Appears in 1 contract
Samples: Sale Agreement
NOMINATION BY ALLOTTEE WITH CONSENT. The Allottee admits and accepts that after the Lock in period, as mentioned below, and before the execution and registration of conveyance deed of the said Apartment, the Allottee (subject to the following conditions) will be entitled to nominate, assign and/or transfer the Allottee‟s Allottee’s right, title, interest and obligations under this Agreement only with the written consent of the Promoter (which consent the Promoter may refuse to grant without assigning any reason whatsoever) on payment of Rs. 100/- (Rupees One hundred only) per square feet on super built up area plus GST as Nomination Charge subject, however, to the Promoter or such other fee / charge as may be decided and/or made applicable from time nominee agreeing to time by the Promoter in its absolute discretion for such transfer subject to the covenant by the nominee that the nominee will strictly adhere to the terms of this Agreement and subject also to the following conditions:
i. The Allottee shall make payment of all dues dues, including any interest for delay, to the Owner in terms of this Agreement, up to the time of nomination and the Promoter shall consent to such nomination transfer or alienation only upon being paid the fee / charge as aforesaid;
iinomination. The Allottee cannot sell and/or nominate the Apartment to and in favour of any third person party before the expiry of a period of 12 15 (twelveFifteen) months from the date of this Agreement (“Lock-in Period”).
iiiAgreement. The Allottee shall have previously informed In respect of any nomination, the Promoter in writing of the full particulars of such nominee / transferee;
iv. The Allottee shall obtain prior written permission of the Promoter Owner and the Allottee and the nominee shall be bound to enter into a tripartite agreement with the Owners Owner and the Promoter.
v. Any such Allottee. The Allottee shall pay a sum calculated @ Rs. 100/- per sq ft on super built up area of the Apartment as mentioned in this Agreement plus applicable taxes, as and by way of nomination assignment transfer or alienation shall be subject fees to the terms conditions agreements and covenants contained hereunder and on the part of the Buyer to be observed fulfilled and performed;
viOwner. It is clarified that any inclusion of a new joint allottee or change of a joint allottee shall be treated as a nomination. The nomination fees, however, shall not be payable in the control case of nomination in favour of parents, spouse or ownership children of the Allottee. Any additional income tax liability that may become payable by the Owner due to nomination by the Allottee (if being a Company or a partnership or an LLP) shall come within because of higher market valuation as per the purview registration authorities on the date of such nomination / assignment / transfer and and/or the extra registration fees to be subject paid to the above conditions.
viiregistration authorities due to nomination, shall be compensated by the Allottee paying to the Owner agreed compensation equivalent to the income tax payable on such difference at the highest applicable tax rate at the prevailing time or the estimated extra registration fees. Such amount shall be payable by the Allottee on or before nomination. The Allottee admits and accepts that the Allottee shall not be entitled to nominate or assign the Allottee’s rights under this Agreement save in the manner indicated above. It is clarified The Allottee undertakes that inclusion of a new joint Allottee or change of a joint the Allottee shall be treated as a transfer unless such joint Allottee is a mother or father or spouse or child of have no objection to the original Allottee. Any nomination/transfer/made Owner making any additional construction and/or extending the Project by adding future land and/or added area and/or future addition on the existing construction, if the Owner, in contravention/ violation of conditions mentioned herein, shall be void ab-initiofuture decides to do so.
Appears in 1 contract
Samples: Sale Agreement
