Common use of POSSESSION OF SAID APARTMENT Clause in Contracts

POSSESSION OF SAID APARTMENT. 11.1 Schedule for possession of the Unit – 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 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 September, 2018 including a grace period 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 Said Project (“Force Majeure”). If, however, the completion of 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 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 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. 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

POSSESSION OF SAID APARTMENT. 11.1 7.1 Schedule for possession of the Unit Said Apartment– 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 September[July, 2018 2023] including a eight months grace period of six monthsperiod, 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 Said Whole Project (“Force Majeure”). If, however, the completion of Said 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 Said 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 delay payment charges computed at Interest Rate within forty-five days from the date on which termination became effectiveeffective 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.

POSSESSION OF SAID APARTMENT. 11.1 Schedule for possession of the Unit – 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 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 September, 2018 including a grace period 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 Said Project (“Force Majeure”). If, however, the completion of 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 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 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. 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

POSSESSION OF SAID APARTMENT. 11.1 7.1 Schedule for possession of the Unit – 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 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 September, 2018 31st December 2027 including a grace period of six ten 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 Said Project (“Force Majeure”). If, however, the completion of 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 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 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. 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. However, the aforesaid amount shall be refunded by the Promoter only upon execution and registration of the cancellation deed by the Allottee.

POSSESSION OF SAID APARTMENT. 11.1 7.1 Schedule for possession of the Unit Unit– The Promoter agrees and understands that timely delivery of possession of the Unit to the Allottee(s) Allottee(s and the Common Areas and Facilities of the Said Project common areas to the Owners AssociationMaintenance Society, is the essence of the Agreement. The Promoter assures to handover possession of the Unit along with ready and complete Common Areas Areas, Amenities and Facilities of the Said Project with all specifications, amenities and facilities of the Said Project in place on or before September30th April, 2018 2026 including a six month grace period of six monthsperiod, 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 Said Project (“Force Majeure”). If, however, the completion of 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 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 received by the Promoter from the Allottee(s) with delay payment charges computed at Interest Rate within forty-five days from that date The promoter shall intimate the date on which Allottee about such termination became effectiveat least thirty days prior to such termination. 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.

POSSESSION OF SAID APARTMENT. 11.1 7.1 Schedule for possession of the said Unit – 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 common areas to the Owners AssociationMaintenance Society or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to handover possession of the Unit in tower in Residential Block 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 September31.12.2027, 2018 including a grace period and of six monthsCommercial Block along with specifications, , amenities and facilities of the Project in place on or before 31.07.2029 unless there is delay or failure due to war, flood, drought, fire, cyclone earthquake cyclone, earthquake, or any other calamity caused by nature effecting the regular development of the Said Project real estate project (“Force Majeure”). If, however, the completion of the 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 Said Project due to Force Majeure conditions, which shall be assessed by the Promoter, the Promoter then this Allotment shall inform the Allottee(s) about such impossibility along with notice of termination of one month stand terminated and upon termination of this allotment, the Promoter shall refund to the Allottee(s) the entire amount 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 date. The Promoter shall intimate the Allottee about such termination became effectiveat least thirty days prior to such termination. 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.

POSSESSION OF SAID APARTMENT. 11.1 7.1 Schedule for possession of the Unit – The Promoter agrees and understands that timely delivery of possession of the Unit to the Allottee(s) and along with the Common Areas Areas, Amenities and Facilities of the Whole Project being developed with Said Project as mentioned in Part I of Schedule E and Common Areas, Amenities and Facilities Reserved for Residential Block being developed with Said Project as mentioned in Part II of Schedule E to the Owners Association, is the essence of the Agreement. The Promoter assures to handover possession of the Unit along with ready and complete the Common Areas Areas, Amenities and Facilities of the Whole Project being developed with Said Project as mentioned in Part I of Schedule E and Common Areas, Amenities and Facilities Reserved for Residential Block being developed with Said Project as mentioned in Part II of Schedule E with all specificationsSpecifications as detailed in Schedule F in place, amenities and facilities of the Said Project in place on or before SeptemberJanuary 15, 2018 2027 including a grace period of six 8 (eight) months, unless there is delay or failure to keep the construction going due to war, flood, drought, fire, cyclone earthquake earthquake, pandemic, epidemic, lockdown, or any other calamity caused by nature nature, or due to any order by any Court, Tribunal or Government Authority, quasi judicial body, effecting the regular development of the Said Project (“Force Majeure”). If, however, the completion of 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 along with along with the Common Areas, Amenities and Facilities of the Whole Project being developed with Said Project as mentioned in Part I of Schedule E and Common Areas, Amenities and Facilities Reserved for Residential Block being developed with Said Project as mentioned in Part II of Schedule E and the Promoter shall not be liable to pay any penalty/interest/compensation during for the delay caused due to such Force Majeure condition, provided . Provided that such Force Majeure conditions are not of a nature which makes it impossible for the contract this Agreement to be implemented. The Allottee(s) agrees and confirms that, in the event it becomes impossible for the Promoter to implement the Said Project or any part thereof, 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 1 (one) month. In such a scenario, the Allottee(s) agrees to execute (and upon register) a cancellation deed with respect to the Unit on which date, the termination shall become effective. Upon termination of this allotmentAgreement, the Promoter shall refund to the Allottee(s) the entire amount received by the Promoter from the Allottee(s) with delay payment charges computed at Interest Rate ), without any interest, within 45 (forty-five five) days from the date on and only after which termination became effectivethe amount will be refunded to the Allottee. 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/or the Said Project and the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. However, the aforesaid amount shall be refunded by the Promoter only upon execution and registration of the cancellation deed by the Allottee.

POSSESSION OF SAID APARTMENT. 11.1 7.1 Schedule for possession of the Unit – 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 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 SeptemberMarch, 2018 including a six months grace period of six monthsperiod, 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 Said Project (“Force Majeure”). If, however, the completion of 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 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 effectiveeffective subject to availability of funds in the designated Project Account and receipt of insurance of claim , if any. Further refund of taxes paid by Allottee 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.