Common use of POSSESSION OF SAID APARTMENT Clause in Contracts

POSSESSION OF SAID APARTMENT. 7.1 Schedule for possession of the Said Apartment– The Promoter agrees and understands that timely delivery of possession of the Unit to the Allottee(s), is the essence of the Agreement. The Promoter based on the approved plans, specifications assures to handover possession of the Unit on or before [July, 2023] including eight months grace period, unless there is delay or failure due to war, flood, drought, fire, cyclone earthquake or any other calamity caused by nature effecting the regular development of the Whole Project (“Force Majeure”). If, however, the completion of Whole Project is delayed due to the Force Majeure conditions then the Allottee(s) agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Unit and the Promoter shall not be liable to pay any penalty/interest/compensation during such Force Majeure condition, provided that such Force Majeure conditions are not of a nature which makes it impossible for the contract to be implemented. The Allottee(s) agrees and confirms that, in the event it becomes impossible for the Promoter to implement the Whole Project due to Force Majeure conditions, which shall be assessed by the Promoter, the Promoter shall inform the Allottee(s) about such impossibility along with notice of termination of one month and upon termination of this allotment, the Promoter shall refund to the Allottee(s) the entire amount (less taxes) received by the Promoter from the Allottee(s) with Interest within forty-five days from the date on which termination became effective subject to availability of funds in the designated Project Account and receipt of insurance of claim , if any. Further refund of taxes paid by the Allottee/s shall be done only after reimbursement of such amount from the statutory body. After refund of the money paid by the Allottee(s), the Allottee(s) agrees that he/ she shall not have any rights, claims etc. against the Promoter and the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. 7.2 Procedure for taking possession- The Promoter, upon obtaining the completion certificate/occupancy certificate from the competent authority shall vide offer letter (“Offer Letter”) offer in writing the possession of the Apartment, to the Allottee(s) in terms of this Agreement. Within 30 days of the date of offer of possession given to the Allottee(s) by the Promoter, the Allottee(s) shall make payment of all dues, outstanding, interest, if any, maintenance security, upfront maintenance charges etc. to the Promoter and within 50 days from clearance of entire dues, outstanding charges, if any, the Allottee(s) shall take physical possession of the Unit and simultaneously get conveyance of his Unit done from the Promoter by getting the conveyance deed/sale deed/sub lease deed registered before the Sub Registrar, Jamshedpur. After the expiry of 3 (Three) full calendar months from the date of completion certificate/occupancy certificate, the Allottee(s) shall be liable to pay the maintenance charges as determined by the Promoter/Owners Association/ Maintenance Agency, as the case may be. The Promoter shall handover a copy of completion certificate/occupancy certificate of the Apartment, to the Allottee(s) at the time of conveyance of the same. The Promoter agrees and undertakes to indemnify the Allottee(s) in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter which the Promoter is liable to comply/carry out as per the Applicable Laws provided such failure is not on account of reasons beyond the controls of Promoter and/or on account of any default/delay on the part of the Allottee(s). The Allottee(s) shall be solely responsible and liable for compliance of the provisions of Indian Stamp Act, 1899, Xxxxxxxxx Xxxxx Xxx, 0000 and Xxxxxxxxxxxx Xxx, 0000 including any actions taken or deficiencies/penalties imposed by the competent authority. The Promoter shall not be responsible for any damage caused to the Unit on account of delay on the part of the Allottee(s) in taking over possession and in such event the Allottee(s) shall have to take possession of the same on “as is where is basis”. The Promoter shall not be held responsible in any manner for any future mishaps like fire, earthquake, flood etc. OR any accident caused due to any of machineries installed like electrical equipment, and transformer, etc.

POSSESSION OF SAID APARTMENT. 7.1 10.1 Schedule for possession of the Said Apartmentsaid Unit – The Promoter agrees and understands that timely delivery of possession of the Unit Apartment to the Allottee(s), Allottee is the essence of the Agreement. The Promoter based on the approved plans, specifications assures to handover possession of the said Unit with all specifications, amenities and facilities of the Said Project in place on or before [July, 2023] January 2024 including eight six months grace periodperiod as shown in Schedule i. War, unless there is Civil Commotion or Act of God. ii. Any notice, order, rule, notification of Government, Municipal or other Public or Competent Authority which prevents the Promoter from carrying out with the work of development and construction on the Whole Project. iii. Strikes, lockouts. iv. Pandemic, epidemic, spread of any communicable disease or any situation of lockdown. v. Any delay or failure due to waron the part of the Municipal Corporation, flood, drought, fire, cyclone earthquake Office of the Collector or any other calamity caused by nature effecting the regular development Public Body or Authority including theM.S.E.D.C.L, in issuing or granting necessary Certificates / NOC’s /Permissions / Licenses /Connections of any service such as Electricity, Drains and Water Connections and Meters to the Whole Project under construction by the Promoter. vi. Any additional work in the Apartment undertaken by the Promoter at the instance of the Allottee/s. vii. Any delay or default by the Allottee/s in making payments as per terms and conditions of this Agreement (“Force Majeure”without prejudice to the right of the Promoter to terminate this Agreement as contemplated under this Agreement). If, however, the completion occupation of Whole Said Project is delayed due to the Force Majeure conditions then the Allottee(s) agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Unit Apartment and the Promoter shall not be liable to pay any penalty/interest/compensation during such Force Majeure condition, provided that such Force Majeure conditions are not of a nature which makes make it impossible for the contract to be implemented. The Allottee(s) agrees and confirms that, in the event it becomes impossible for the Promoter to implement the Whole said Project due to Force Majeure conditions, which shall be assessed by the Promoter, the Promoter shall inform the Allottee(s) about such impossibility along with notice of termination of one month then this allotment stands terminated and upon termination of this allotment, the Promoter shall refund to the Allottee(s) the entire amount (less taxes) received by the Promoter from the Allottee(s) with Interest within forty-five days from such termination and execution of the date on deed of cancellation. The Promoter shall intimate the Allottee about such termination at least thirty days prior to such termination. Upon termination the Allottee agrees to execute a cancellation deed with respect to the Unit and only after which termination became effective subject the amount will be refunded to availability of funds in the designated Project Account and receipt of insurance of claim , if any. Further refund of taxes paid by the Allottee/s shall be done only after reimbursement of such amount from the statutory body. After refund of the money paid by the Allottee(s)Termination, the Allottee(s) agrees that he/ she shall not have any rights, claims etc. against the Promoter and the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. 7.2 Procedure for taking possession- The Promoter, upon obtaining the completion certificate/occupancy certificate from the competent authority shall vide offer letter (“Offer Letter”) offer in writing the possession of the Apartment, to the Allottee(s) in terms of this Agreement. Within 30 days of the date of offer of possession given to the Allottee(s) by the Promoter, the Allottee(s) shall make payment of all dues, outstanding, interest, if any, maintenance security, upfront maintenance charges etc. to the Promoter and within 50 days from clearance of entire dues, outstanding charges, if any, the Allottee(s) shall take physical possession of the Unit and simultaneously get conveyance of his Unit done from the Promoter by getting the conveyance deed/sale deed/sub lease deed registered before the Sub Registrar, Jamshedpur. After the expiry of 3 (Three) full calendar months from the date of completion certificate/occupancy certificate, the Allottee(s) shall be liable to pay the maintenance charges as determined by the Promoter/Owners Association/ Maintenance Agency, as the case may be. The Promoter shall handover a copy of completion certificate/occupancy certificate of the Apartment, to the Allottee(s) at the time of conveyance of the same. The Promoter agrees and undertakes to indemnify the Allottee(s) in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter which the Promoter is liable to comply/carry out as per the Applicable Laws provided such failure is not on account of reasons beyond the controls of Promoter and/or on account of any default/delay on the part of the Allottee(s). The Allottee(s) shall be solely responsible and liable for compliance of the provisions of Indian Stamp Act, 1899, Xxxxxxxxx Xxxxx Xxx, 0000 and Xxxxxxxxxxxx Xxx, 0000 including any actions taken or deficiencies/penalties imposed by the competent authority. The Promoter shall not be responsible for any damage caused to the Unit on account of delay on the part of the Allottee(s) in taking over possession and in such event the Allottee(s) shall have to take possession of the same on “as is where is basis”. The Promoter shall not be held responsible in any manner for any future mishaps like fire, earthquake, flood etc. OR any accident caused due to any of machineries installed like electrical equipment, and transformer, etc.

POSSESSION OF SAID APARTMENT. 7.1 Schedule for possession of the Said ApartmentUnit– The Promoter agrees and understands that timely delivery of possession of the Unit to the Allottee(s)Allottee(s and the common areas to the Maintenance Society, is the essence of the Agreement. The Promoter based on the approved plans, specifications assures to handover possession of the Unit along with ready and complete Common Areas, Amenities and Facilities of the Said Project with all specifications, amenities and facilities of the Said Project in place on or before [July30th April, 2023] 2026 including eight months six month grace period, unless there is delay or failure due to war, flood, drought, fire, cyclone earthquake or any other calamity caused by nature effecting the regular development of the Whole Said Project (“Force Majeure”). If, however, the completion of Whole Said Project is delayed due to the Force Majeure conditions then the Allottee(s) agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Unit and the Promoter shall not be liable to pay any penalty/interest/compensation during such Force Majeure conditionUnit, provided that such Force Majeure conditions are not of a nature which makes it impossible for the contract to be implemented. The Allottee(s) agrees and confirms that, in the event it becomes impossible for the Promoter to implement the Whole Said Project due to Force Majeure conditions, which then this allotment shall be assessed by the Promoterterminated, the Promoter shall inform the Allottee(s) about such impossibility along with notice of termination of one month and upon termination of this allotment, the Promoter shall refund to the Allottee(s) the entire amount (less taxes) received by the Promoter from the Allottee(s) with Interest within forty-five days from that date The promoter shall intimate the date on which Allottee about such termination became effective subject at least thirty days prior to availability of funds in the designated Project Account and receipt of insurance of claim , if any. Further refund of taxes paid by the Allottee/s shall be done only after reimbursement of such amount from the statutory bodytermination. After refund of the money paid by the Allottee(s), the Allottee(s) agrees that he/ she shall not have any rights, claims etc. against the Promoter and the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. 7.2 Procedure for taking possession- The Promoter, upon obtaining the completion certificate/occupancy certificate from the competent authority shall vide offer letter (“Offer Letter”) offer in writing the possession of the Apartment, to the Allottee(s) in terms of this Agreement. Within 30 days of the date of offer of possession given to the Allottee(s) by the Promoter, the Allottee(s) shall make payment of all dues, outstanding, interest, if any, maintenance security, upfront maintenance charges etc. to the Promoter and within 50 days from clearance of entire dues, outstanding charges, if any, the Allottee(s) shall take physical possession of the Unit and simultaneously get conveyance of his Unit done from the Promoter by getting the conveyance deed/sale deed/sub lease deed registered before the Sub Registrar, Jamshedpur. After the expiry of 3 (Three) full calendar months from the date of completion certificate/occupancy certificate, the Allottee(s) shall be liable to pay the maintenance charges as determined by the Promoter/Owners Association/ Maintenance Agency, as the case may be. The Promoter shall handover a copy of completion certificate/occupancy certificate of the Apartment, to the Allottee(s) at the time of conveyance of the same. The Promoter agrees and undertakes to indemnify the Allottee(s) in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter which the Promoter is liable to comply/carry out as per the Applicable Laws provided such failure is not on account of reasons beyond the controls of Promoter and/or on account of any default/delay on the part of the Allottee(s). The Allottee(s) shall be solely responsible and liable for compliance of the provisions of Indian Stamp Act, 1899, Xxxxxxxxx Xxxxx Xxx, 0000 and Xxxxxxxxxxxx Xxx, 0000 including any actions taken or deficiencies/penalties imposed by the competent authority. The Promoter shall not be responsible for any damage caused to the Unit on account of delay on the part of the Allottee(s) in taking over possession and in such event the Allottee(s) shall have to take possession of the same on “as is where is basis”. The Promoter shall not be held responsible in any manner for any future mishaps like fire, earthquake, flood etc. OR any accident caused due to any of machineries installed like electrical equipment, and transformer, etc.

POSSESSION OF SAID APARTMENT. 7.1 11.1 Schedule for possession of the Said ApartmentUnit – The Promoter agrees and understands that timely delivery of possession of the Unit to the Allottee(s)) and the Common Areas and Facilities of the Said Project to the Owners Association, is the essence of the Agreement. The Promoter based on the approved plans, specifications assures to handover possession of the Unit along with ready and complete Common Areas and Facilities of the Said Project with all specifications, amenities and facilities of the Said Project in place on or before [JulySeptember, 2023] 2018 including eight months a grace periodperiod of six months, unless there is delay or failure due to war, flood, drought, fire, cyclone earthquake or any other calamity caused by nature effecting the regular development of the Whole Said Project (“Force Majeure”). If, however, the completion of Whole Said Project is delayed due to the Force Majeure conditions then the Allottee(s) agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Unit and the Promoter shall not be liable to pay any penalty/interest/compensation during such Force Majeure condition, provided that such Force Majeure conditions are not of a nature which makes it impossible for the contract to be implemented. The Allottee(s) agrees and confirms that, in the event it becomes impossible for the Promoter to implement the Whole Said Project due to Force Majeure conditions, which shall be assessed by the Promoter, the Promoter shall inform the Allottee(s) about such impossibility along with notice of termination of one month and upon termination of this allotment, the Promoter shall refund to the Allottee(s) the entire amount (less taxes) received by the Promoter from the Allottee(s) with delay payment charges computed at Interest Rate within forty-five days from the date on which termination became effective subject to availability of funds in the designated Project Account and receipt of insurance of claim , if any. Further refund of taxes paid by the Allottee/s shall be done only after reimbursement of such amount from the statutory bodyeffective. After refund of the money paid by the Allottee(s), the Allottee(s) agrees that he/ she shall not have any rights, claims etc. against the Promoter and the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement 11.2 However, notwithstanding the above, the Allottee shall not be entitled to demand the possession from the Seller before making complete payment of agreed Basic Sale Consideration, Taxes, interest and other charges as per this Agreement. If the Buyer / Allottee defaults in the payment of the Instalments upon the construction milestones, then the Buyer /Allottee shall not be entitled to enforce the time line of completion of the construction. 7.2 11.3 On obtaining certificate for occupation and use by the Competent Authorities, the Seller shall hand over the demised premises to the Allottee for his occupation and use and subject to the Allottee having complied with all the terms and conditions of Agreement to Sell. 11.4 Procedure for taking possession- The Promoter, upon obtaining the completion certificate/occupancy certificate from the competent authority shall vide offer letter (“Offer Letter”) offer in writing the possession of the ApartmentUnit, to the Allottee(s) in terms of this Agreement. Within 30 20 days of the date of offer of possession given to the Allottee(s) by the Promoter, the Allottee(s) shall make payment of all dues, outstanding, interest, if any, maintenance security, upfront maintenance charges security etc. to the Promoter and within 50 days from clearance of entire dues, outstanding charges, if any, the Allottee(s) shall take physical possession of the Unit and simultaneously get conveyance of his Unit done from the Promoter by getting the conveyance deed/sale deed/sub lease deed registered before the Sub Registrar, JamshedpurJaipur. After the expiry of 3 (Three) full calendar months from the date of issue of completion certificate/occupancy certificatecertificate i.e Deemed Date of Possession , the Allottee(s) shall be liable to pay the maintenance charges as determined by the Promoter/Owners Association/ Maintenance AgencyAssociation, as the case may be. The Promoter shall handover a the copy of completion certificate/occupancy certificate of the Apartment, to the Allottee(s) at the time of conveyance of the same. The Promoter agrees and undertakes to indemnify the Allottee(s) in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter which the Promoter is liable to comply/carry out as per the Applicable Laws provided such failure is not on account of reasons beyond the controls of Promoter and/or on account of any default/delay on the part of the Allottee(s). The Allottee(s) shall be solely responsible and liable for compliance of the provisions of Indian Stamp Act, 1899, Xxxxxxxxx Rajasthan Xxxxx Xxx, 0000 and Xxxxxxxxxxxx Xxx, 0000 including any actions taken or deficiencies/penalties imposed by the competent authority. The Promoter shall not be responsible for any damage caused to the Unit on account of delay on the part of the Allottee(s) in taking over possession and in such event the Allottee(s) shall have to take possession of the same on “as is where is basis”. The Promoter shall not be held responsible in any manner for any future mishaps like fire, earthquake, flood etc. OR any accident caused due to any of machineries installed like electrical equipment, and transformer, etc. 11.5 Possession of the Allottee(s)- After obtaining the completion certificate and handing over physical possession of the Unit to the Allottee(s), it shall be the responsibility of the Promoter to handover the necessary documents and plan, including common areas to the Owners Association within thirty days after obtaining the completion certificate.