Common use of POSSESSION AND CONVEYANCE Clause in Contracts

POSSESSION AND CONVEYANCE. 4.1 Immediately upon completion of the flat a communication would be given by the Promoter regarding the completion (hereinafter referred to as the “NOTICE OF POSSESSION”) and the Allottee shall take possession of the flat subject however to the Allottee making payment of the entire balance consideration and all other amounts and/or deposits to be paid under this agreement. As from the date of notice of possession, the Allottee shall be liable and hereby agrees to make payment of the municipal rates, taxes, outgoings and maintenance charges payable in respect of the flat. 4.2 Within fifteen days of service of notice of possession, the Allottee if so desires: a) may take inspection of the flat in presence of the Promoter or its representative; b) shall pay the entire balance consideration and all other amounts and deposits payable by the Allottee to the Promoter for sale of the flat; c) fulfill all other covenants hereunder and complete the purchase of the flat; d) take possession of the flat; If no inspection is taken within the said period, the Allottee shall be deemed to have taken such inspection. 4.3 It is expressly agreed, understood and clarified as follows: (i) The Promoter shall not be liable to deliver possession of the flat to the Allottee nor shall execute or cause the Owners to execute any Deed/s of Conveyance or other instruments until such time the Allottee makes payment of all amounts agreed and required to be paid hereunder by the Allottee and the Allottee has fully performed all the terms conditions and covenants of this agreement and on the part of the Allottee to be observed and performed until then. (ii) It will not be necessary for the Promoter to complete all the common areas and installations before giving the notice to the Allottee to take possession in terms of clause 4.1

POSSESSION AND CONVEYANCE. 4.1 Immediately upon completion of Upon constructing and completing the flat said Unit, the Vendors shall give a communication would be given by the Promoter regarding the completion (hereinafter referred to as the “NOTICE OF POSSESSION”) and the Allottee shall take possession of the flat subject however notice thereof to the Allottee making payment of the entire balance consideration and all other amounts and/or deposits to be paid under this agreement. As from the date of notice of possession, the Allottee Purchaser who shall be liable and hereby agrees to make payment of the municipal rates, taxes, outgoings and maintenance charges payable in respect of the flat. 4.2 Within fifteen within 15 days of its service of notice of possession, the Allottee if so desires: a) may take inspection of the flat in presence of the Promoter or its representative; b) shall pay the entire balance consideration and all other amounts and deposits payable by the Allottee Purchaser to the Promoter for sale of the flat; c) fulfill Vendors under this agreement and fulfil all his other covenants hereunder and complete the purchase of the flat; d) and take possession of the flat; If no inspection said Unit. 4.1 It is taken within expressly agreed that the said period, the Allottee Unit shall be deemed to have taken such inspection. 4.3 It be fit for delivery of possession as soon as the same is expressly agreed, understood completed internally with the fittings fixtures and clarified as follows: (i) The Promoter shall not be liable to deliver possession amenities mentioned in PART-II of the flat to the Allottee nor shall execute or cause the Owners to execute any Deed/s of Conveyance or other instruments until such time the Allottee makes payment of all amounts agreed and required to be paid THIRD SCHEDULE hereunder by the Allottee written and the Allottee has fully performed all the terms conditions and covenants of this agreement and on the part entrance ground floor lobby of the Allottee to be observed concerned Block is completed and performed until then. at least one lift in the concerned block of the building is made operative and water drainage sewerage and electricity connections (iitemporary or permanent) It are provided in or for the said Unit, it being clarified that it will not be necessary for the Promoter Vendors to complete the Building in all manner and to install and make operative all the common areas Common Areas and installations Installations before the Vendors giving the such notice to the Allottee Purchaser, which the Vendors shall be entitled to take do within a reasonable time thereafter. 4.2 In case upon completion of construction of the said Unit, the area thereof varies then the amounts payable hereunder by the Purchaser to the Vendors towards consideration money, deposits and/or otherwise (wherever such deposits and other amounts are payable on the basis of the area comprised in the said Unit) shall also vary at the rates specified herein and otherwise proportionately. It is expressly agreed that the Certificate of the Architects as regards the area of the said Unit shall be wholly conclusive and final and binding upon the parties hereto. 4.3 The Vendors and the Purchaser hereto shall execute the Conveyance in respect of the said Unit hereby agreed to be sold within a reasonable time after payment of the entire consideration and all other amounts payable hereunder by the Purchaser to the Vendors and delivery of possession of the said Unit by the Vendors to the Purchaser, it being expressly made clear that the Vendors shall not be obliged to deliver possession of the said Unit to the Purchaser unless the Purchaser executes and/or is ready and willing to execute the conveyance simultaneously with such delivery of possession. 4.4 The Purchaser’s liabilities and obligations towards payment of Common Expenses, rates and taxes and other outgoings payable in terms respect of the said Unit as well as all or any consequence of default, non performance or delay in performance of all or any of the obligations and covenants as contemplated under the Heading “Management Maintenance and Common Enjoyment” hereunder shall be deemed to have commenced on and from the Date of Commencement of Liability irrespective of when the Purchaser takes actual physical possession of the said Unit and with effect from the Date of Commencement of Liability, it shall be deemed that the Vendors have complied with all their obligations hereunder to the full satisfaction of the Purchaser and the Purchaser shall not be entitled thereafter to raise any dispute against or claim any amount from the Vendors on any account whatsoever. 4.5 The conveyance and other documents of transfer to be executed in pursuance hereof shall be in such form and shall contain such covenants exceptions restrictions etc., as be drawn by the Advocates and the Purchaser shall execute the same without raising any objection Provided That the Purchaser shall be entitled to seek reasonable clarifications thereon. 4.6 Without prejudice to the generality of the foregoing it is expressly agreed that as regards the construction of the said Unit, in case any purported defect in the construction of the said Unit or in the materials used therein is noticed by the Purchaser within 1 (one) year from the Date of Commencement of Liability, the Purchaser shall immediately bring the same to the notice of the Vendors and unless the purported defect has arisen due to any act or omission on the part of the Purchaser or his agents, the Vendors shall wherever possible, rectify the purported defect without charge to the Purchaser or the Vendors shall pay a reasonable compensation for such defect or change, if the same cannot be easily rectified. 4.6.1 Notwithstanding anything to the contrary contained in clause 4.14.6 immediately preceding, it is expressly agreed and understood that in case the Purchaser, without first notifying the Vendors and without giving to the Vendors the opportunity to inspect assess and determine the nature of the purported defect, alters the state and condition of the area of the purported defect, then the Vendors shall be relieved of their obligations contained in clause 4.6 immediately preceding.

POSSESSION AND CONVEYANCE. 4.1 Immediately upon completion 12.1 Upon the final instalment of consideration falling due as per the flat Seventh Schedule, the Developer shall give a communication would be given by the Promoter regarding the completion (hereinafter referred to as the “NOTICE OF POSSESSION”) and the Allottee shall take possession of the flat subject however notice thereof in writing to the Allottee making payment of the entire balance consideration and all other amounts and/or deposits to be paid under this agreement. As from the date of notice of possession, the Allottee shall be liable and hereby agrees to make payment of the municipal rates, taxes, outgoings and maintenance charges payable in respect of the flat. 4.2 Within Purchaser who within fifteen days of service of notice of possession, the Allottee if so desiresits service: a) may 12.2 May take inspection of the flat said Unit in presence of the Promoter Developer or its representative; b) 12.3 May point out any quality related issues, if any, required to be rectified by the Developer and which if required would be rectified by the Developer but which shall not withhold the performance of the other obligations of the Purchaser hereunder; 12.4 Shall pay the entire balance consideration and all other amounts and deposits payable by the Allottee Purchasers to the Promoter Developer for sale of the flat;said Unit. c) fulfill 12.5 Fulfil all his other covenants hereunder and complete the purchase of the flatsaid Unit; d) take 12.6 Take possession of the flat; said Unit. 12.7 If no inspection is taken within the said periodexpiry of the 15 days of service of the notice, it shall be deemed that such right is waived. However, the Allottee date of expiry of the 15 days of the service of notice of possession is deemed possession and deemed possession/ date of possession whichever is earlier is the Date of Commencement of Liability. 12.8 The Purchaser’s liabilities and obligations towards payment of Common Expenses, rates and taxes and other outgoings payable in respect of the said Unit as well as all or any consequence of default, non- performance or delay in performance of all or any of the obligations and covenants as contemplated hereunder shall be deemed to have taken such inspectioncommenced on and from the Date of Commencement of Liability irrespective of when the Purchasers take actual physical possession of the said Unit. 4.3 It is expressly agreed, understood and clarified as follows: (i) 12.9 The Promoter Owners shall not be liable to deliver possession of the flat said Unit to the Allottee Purchasers nor shall execute or cause the Owners to execute any Deed/s of Conveyance or other instruments until such time the Allottee makes Purchasers make payment of all amounts agreed and required to be paid hereunder by the Allottee Purchasers and the Allottee Purchasers has fully performed all the terms conditions and covenants of this agreement Agreement and on the part of the Allottee Purchasers to be observed and performed until then. (ii) 12.10 It will not be necessary for the Promoter Owners to complete all the common areas and install all the installations in the complex, before giving the notice to the Allottee Purchasers for the payment of the final instalment of consideration as per ninth Schedule and to take possession of the said Unit. The Purchasers shall, at the time of taking possession get their Unit registered in terms their names and for this purpose shall pay the stamp duty, registration charges and incidental expenses for and/or in relation to execution and registration of clause 4.1the Deed of Conveyance in respect of the said Unit and any other assurances deeds required to be made for or in relation thereto. 12.11 It is further expressly agreed that with effect from the date of notice of possession from the Developers to the Purchasers, it shall be deemed that the Developer have complied with all its obligations hereunder to the full satisfaction of the Purchasers other than defects and deficiencies if any pointed within 15 days and the Purchasers shall not be entitled thereafter to raise any dispute against or claim any amount from the Owners and Developer on any account whatsoever.

POSSESSION AND CONVEYANCE. 4.1 Immediately upon completion of Upon making the flat said Flat/unit tenantable the Developer shall give a communication would be given by the Promoter regarding the completion (hereinafter referred to as the “NOTICE OF POSSESSION”) and the Allottee shall take possession of the flat subject however notice thereof in writing to the Allottee making payment of the entire balance consideration and all other amounts and/or deposits to be paid under this agreement. As from the date of notice of possession, the Allottee shall be liable and hereby agrees to make payment of the municipal rates, taxes, outgoings and maintenance charges payable in respect of the flat. 4.2 Within Purchaser who within fifteen days of its service of notice of possession, the Allottee if so desires:- a) may take inspection of the flat said Flat/unit in presence of the Promoter Developer or its representativerepresentative or Architect ; b) may point out any defect in construction required to be rectified by the Developer and which if required would be rectified by the Developer but which shall not withhold the performance of the other obligations of the Purchaser hereunder; c) shall pay the entire balance consideration and all other amounts and deposits payable by the Allottee Purchaser to the Promoter Developer for sale of the flatsaid Flat/unit; cd) fulfill all his/her/its other covenants hereunder and complete the purchase of the flatsaid Flat/unit; de) take possession of the flat; said Flat/unit. If no inspection is taken within the said period, the Allottee it shall be deemed to have taken that such inspectiona right is waived. 4.3 6.1 It is expressly agreed, agreed understood and clarified as follows: (i) The Promoter Developer shall not be liable to deliver possession of the flat said Flat/unit to the Allottee Purchaser nor shall execute or cause the Owners to execute any Deed/s Deed of Conveyance or other instruments until such time the Allottee Purchaser makes payment of all amounts agreed and required to be paid hereunder by the Allottee Purchaser and the Allottee has Purchaser have fully performed all the terms conditions and covenants of this agreement Agreement and on the part of the Allottee Purchaser to be observed and performed until then. (ii) It will not be necessary for the Promoter Developer to complete and install all the Common Areas and Installations before giving the notice to the Purchaser to take possession in terms of clause 6 hereinabove. The said Flat/unit shall be deemed to be in a habitable condition as soon as the same is completed internally in accordance with the specifications mentioned in the Third Schedule hereunder written, the entrance lobby of the new building lift are made operative and water drainage sewerage and permanent electricity connection are provided in or for the said Flat/unit. (iii) The Purchaser's liabilities and obligations towards payment of Common Expenses, rates and taxes and other outgoings payable in respect of the said Flat/unit as well as all or any consequence of default, non performance or delay in performance of all or any of the obligations and covenants as contemplated under the heading "Management Maintenance and Common Enjoyment" hereunder shall be deemed to have commenced on and from the Date of Commencement of Liability irrespective of when the Purchaser takes actual physical possession of the said Flat/unit. 6.2 It will not be necessary for the Developer to complete all the common areas and install all the installations in the building, before giving the notice to the Allottee Purchaser to take possession of the said Unit. As stated above the Unit shall be deemed to be tenable as soon as the same is completed internally as per the specifications mentioned in terms the Third Schedule hereunder written and the entrance lobby and lift of clause 4.1the Tower is made operative and water drainage and sewerage connections are provided in or for the said Unit and the Occupancy Certificate or Partial Occupancy Certificate is obtained. 6.3 The Purchaser shall, at the time of taking possession get the Deed of Conveyance in respect of his Unit registered in his/her/its name and for this purpose shall pay the stamp duty, registration charges and incidental expenses for and/or in relation to execution and registration of the Deed of Conveyance in respect of the said Unit and also any other assurances deeds required to be made for or in relation thereto. 6.4 Subject to the Purchaser making payment of the entire consideration and all other amounts and deposits payable by the Purchaser hereunder and complying with all his other obligations hereunder, the Vendors and the Developer agree to execute the Conveyance in respect of the said Flat/unit in favour of the Purchaser upon the delivery of possession of the said Flat/unit to the Purchaser. 6.5 It is further expressly agreed that with effect from the date of Commencement of Liability, it shall be deemed that the Developer has complied with all its obligations hereunder to the full satisfaction of the Purchaser and the Purchaser shall not be entitled thereafter to raise any dispute against or claim any amount from the Vendors or the Developer on any account whatsoever.

POSSESSION AND CONVEYANCE. 4.1 Immediately upon completion of Upon constructing and completing the flat said Unit, the Vendors shall give a communication would be given by the Promoter regarding the completion (hereinafter referred to as the “NOTICE OF POSSESSION”) and the Allottee shall take possession of the flat subject however notice thereof to the Allottee making payment of the entire balance consideration and all other amounts and/or deposits to be paid under this agreement. As from the date of notice of possession, the Allottee Purchaser who shall be liable and hereby agrees to make payment of the municipal rates, taxes, outgoings and maintenance charges payable in respect of the flat. 4.2 Within fifteen within 15 days of its service of notice of possession, the Allottee if so desires: a) may take inspection of the flat in presence of the Promoter or its representative; b) shall pay the entire balance consideration and all other amounts and deposits payable by the Allottee Purchaser to the Promoter for sale of the flat; c) fulfill Vendors under this agreement and fulfil all his other covenants hereunder and complete the purchase of the flat; d) and take possession of the flat; If no inspection said Unit. 4.1 It is taken within expressly agreed that the said period, the Allottee Unit shall be deemed to have taken such inspection. 4.3 It be fit for delivery of possession as soon as the same is expressly agreed, understood completed internally with the fittings fixtures and clarified as follows: (i) The Promoter shall not be liable to deliver possession amenities mentioned in PART-II of the flat to the Allottee nor shall execute or cause the Owners to execute any Deed/s of Conveyance or other instruments until such time the Allottee makes payment of all amounts agreed and required to be paid THIRD SCHEDULE hereunder by the Allottee written and the Allottee has fully performed all the terms conditions and covenants of this agreement and on the part entrance ground floor lobby of the Allottee to be observed concerned wing is completed and performed until then. at least one lift in the concerned wing of the building is made operative and water drainage sewerage and electricity connections (iitemporary or permanent) It are provided in or for the said Unit, it being clarified that it will not be necessary for the Promoter Vendors to complete the Building in all manner and to install and make operative all the common areas Common Areas and installations Installations before the Vendors giving the such notice to the Allottee Purchaser, which the Vendors shall be entitled to take do within a reasonable time thereafter. 4.2 In case upon completion of construction of the said Unit, the area thereof varies then the amounts payable hereunder by the Purchaser to the Vendors towards consideration money, deposits and/or otherwise (wherever such deposits and other amounts are payable on the basis of the area comprised in the said Unit) shall also vary at the rates specified herein and otherwise proportionately. It is expressly agreed that the Certificate of the Architects as regards the area of the said Unit shall be wholly conclusive and final and binding upon the parties hereto. 4.3 The Vendors and the Purchaser hereto shall execute the Conveyance in respect of the said Unit hereby agreed to be sold simultaneously with or within a reasonable time after payment of the entire consideration and all other amounts payable hereunder by the Purchaser to the Vendors and delivery of possession of the said Unit by the Vendors to the Purchaser, it being expressly made clear that the Vendors shall not be obliged to deliver possession of the said Unit to the Purchaser unless the Purchaser executes and/or is ready and willing to execute the conveyance simultaneously with such delivery of possession. 4.4 The Purchaser’s liabilities and obligations towards payment of Common Expenses, rates and taxes and other outgoings payable in terms respect of the said Unit as well as all or any consequence of default, non-performance or delay in performance of all or any of the obligations and covenants as contemplated under the Heading “Management Maintenance and Common Enjoyment” hereunder shall be deemed to have commenced on and from the Date of Commencement of Liability irrespective of when the Purchaser takes actual physical possession of the said Unit and with effect from the Date of Commencement of Liability, it shall be deemed that the Vendors have complied with all their obligations hereunder to the full satisfaction of the Purchaser and the Purchaser shall not be entitled thereafter to raise any dispute against or claim any amount from the Vendors on any account whatsoever. 4.5 The conveyance and other documents of transfer to be executed in pursuance hereof shall be in such form and shall contain such covenants exceptions restrictions etc., as be drawn by the Advocates and the Purchaser shall execute the same without raising any objection. 4.6 Without prejudice to the generality of the foregoing it is expressly agreed that as regards the construction of the said Unit, in case any purported defect in the construction of the said Unit or in the materials used therein is noticed by the Purchaser within 1 (one) year from the Date of Commencement of Liability, the Purchaser shall immediately bring the same to the notice of the Vendors and unless the purported defect has arisen due to any act or omission on the part of the Purchaser or his agents, the Vendors shall wherever possible, rectify the purported defect without charge to the Purchaser or the Vendors shall pay a reasonable compensation for such defect or change, if the same cannot be easily rectified. 4.6.1 Notwithstanding anything to the contrary contained in clause 4.14.6 immediately preceding, it is expressly agreed and understood that in case the Purchaser, without first notifying the Vendors and without giving to the Vendors the opportunity to inspect assess and determine the nature of the purported defect, alters the state and condition of the area of the purported defect, then the Vendors shall be relieved of their obligations contained in clause 4.6 immediately preceding.