Common use of POSSESSION OF THE APARTMENT / UNIT Clause in Contracts

POSSESSION OF THE APARTMENT / UNIT. 7.1 Schedule for possession of the said Apartment / Unit –The Promoter agrees andunderstands that timely delivery of possession of the [Apartment/ Unit] to the Allottee and the common areas to the Association of allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to handover possession of the [Apartment/ Unit] along with ready and complete common areas with all specifications, amenities and facilities of the Project within March, 2020 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 real estate project (“Force Majeure”). If, however, the completion of Project is delayed due to the Force Majeure conditions then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the [Apartment/ Unit]. Provided that such Force Majeure conditions are not of a nature which 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 project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee(s) the entire amount received by the Promoter from the Allotment within 45 days from that date. The Promoter shall intimate the Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee agreed 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 THE APARTMENT / UNIT. 7.1 Schedule for possession of the said Apartment / Unit –The Promoter agrees andunderstands that timely delivery of possession of the [Apartment/ Apartment and car parking space/ Unit] to the Allottee and the common areas to the Association of allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to handover possession of the [Apartment/ Apartment and car parking space/ Unit] along with ready and complete common areas with all specifications, amenities and facilities of the Project within March_ , 2020 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 real estate project (“Force Majeure”). If, however, the completion of Project is delayed due to the Force Majeure conditions then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the [Apartment/ Unit]. Provided that such Force Majeure conditions are not of a nature which 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 project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee(s) the entire amount received by the Promoter from the Allotment within 45 days from that date. The Promoter shall intimate the Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee agreed 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 THE APARTMENT / UNIT. 7.1 Schedule for possession of the said Apartment / Unit –– The Promoter agrees andunderstands and understands that timely delivery of possession of the [Apartment/ Unit] to the Allottee and the common areas to the Association of allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to handover possession of the [Apartment/ Unit] along with ready and complete common areas with all specifications, amenities and facilities of the Project within March, 2020 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 real estate project (“Force Majeure”). If, however, the completion of Project is delayed due to the Force Majeure conditions then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the [Apartment/ Unit]. Provided that such Force Majeure conditions are not of a nature which 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 project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee(s) the entire amount received by the Promoter from the Allotment within 45 days from that date. The Promoter shall intimate the Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee agreed 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 THE APARTMENT / UNIT. 7.1 Schedule for possession of the said [Apartment / Unit –Unit] – The Promoter agrees andunderstands and understands that timely delivery of possession of the [Apartment/ Unit] to the Allottee and the common areas to the Association of allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to handover possession of the [Apartment/ Unit] along with ready and complete common areas with all specifications, amenities and facilities of the Project within March, 2020 30 months with grace period of further 6 months (Total 36 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 real estate project (“Force Majeure”). If, however, the completion of Project is delayed due to the Force Majeure conditions then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the [Apartment/ Unit]. Provided that such Force Majeure conditions are not of a nature which 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 project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee(s) the entire amount received by the Promoter from the Allotment within 45 days from that date. The Promoter shall intimate the Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee agreed 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 THE APARTMENT / UNIT. 7.1 Schedule for possession of the said Apartment / Unit –The unit - Subject to compliance of the terms and conditions as set out in clause No. 1 and 2 hereinabove by the allottee, the Promoter agrees andunderstands and understands that timely delivery of possession of the [Apartment/ Unit] Apartment / unit to the Allottee allottee and the common areas to the Association of allottees Allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to handover hand over possession of the [Apartment/ Unit] Apartment / unit along with ready and complete common areas with all specifications, amenities and facilities of the Project within March, 2020 project in place on or before unless there is delay or failure due to war, flood, drought, fire, cyclone cyclone, earthquake or any other calamity caused by nature effecting affecting the regular development of the real estate project (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the [Apartment/ Unit]. Provided Apartment / unit, provided that such Force Majeure conditions are not of a nature nature, which make it impossible for the contract to be implemented. The Allottee(s) Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee(s) Allottee the entire amount received by the Promoter from the Allotment allotment within 45 days from that date. The Promoter promoter shall intimate the Allottee allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee agreed agrees that he/ she shall not have any rights, claims etc. against the Promoter and that the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement.

POSSESSION OF THE APARTMENT / UNIT. 7.1 9.1 Schedule for possession of the said Apartment / Unit –Apartment: The Promoter agrees andunderstands and understands that timely delivery of possession of the [Apartment/ Unit] Apartment/Unit to the Allottee and the common areas Common Areas to the Association of allottees Allottees or the competent authorityCompetent Authority, as the case may be, is the essence of the Agreement. The Promoter Promoter, assures to handover hand over possession of the [Apartment/ Unit] Apartment/Unit along with ready and complete common areas Common Areas with all specifications, amenities and facilities of the Project within Marchin respect of which Completion Certificate has been issued by the Competent Authority in place on or before [•] (“Scheduled Date of Completion”), 2020 unless there is delay or failure due subject to war, flood, drought, fire, cyclone earthquake or any other calamity caused by nature effecting Force Majeure circumstances and reasons beyond the regular development control of the real estate project (“Force Majeure”)Promoter. If, however, Where the completion of the Project is delayed due to the Force Majeure conditions conditions, then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the [Apartment/ Unit]Apartment/Unit for such period as may be required for completion of the Project. Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. . 9.2 The Allottee(s) Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the project Project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee(s) Allottee the entire amount received by the Promoter from the Allotment allotment within 45 (forty-five) days from that date. The Promoter shall intimate the Allottee about such termination at least 30 (thirty days days) prior to such termination. After refund of the money paid by the Allottee, the Allottee agreed agrees that he/ he/she shall not have any rights, claims etc. against the Promoter and that the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement.

POSSESSION OF THE APARTMENT / UNIT. 7.1 Schedule for possession of the said Apartment / Unit –– The Developer/Promoter agrees andunderstands and understands that timely delivery of possession of the [Apartment/ Unit] Apartment to the Purchaser/Allottee and the common areas to the Association of allottees Purchaser/Allottee(s)(s) or the competent authority, as the case may be, is the essence of the Agreement. The Developer/Promoter assures to handover possession of the [Apartment/ Unit] said Apartment along with ready and complete common areas with all specifications, amenities and facilities of the Project within March, 2020 in place on 31.12.2021 and it may further be extended for 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 real estate project (due to “Force Majeure”). If, however, the completion of the said Apartment/Project is delayed due to the Force Majeure conditions then the Allottee Purchaser/Allottee(s) agrees that the Promoter Developer /Promoter shall be entitled to the extension of time for delivery of possession of the [Apartment/ said Apartment/Unit]. Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Purchaser/Allottee(s) agrees and confirms that, in the event it becomes impossible for the Developer/Promoter to implement the project said Building/Project due to Force Majeure conditions, then this allotment shall stand terminated and the Developer/Promoter shall refund to the Purchaser/Allottee(s) the entire amount received by the Developer/Promoter from the Allotment within 45 days from that date. The Developer/Promoter shall intimate the Allottee Purchaser/ Allottee(s) about such termination at least thirty days prior to such termination. After refund of the money paid by the AllotteePurchaser/ Allottee(s), the Allottee Purchaser/Allottee(s) agreed that he/ she he/she/they shall not have any rights, claims etc. against the Developer/ Promoter and the Developer/Promoter shall be released and discharged from all its obligations and liabilities under this Agreement.

POSSESSION OF THE APARTMENT / UNIT. 7.1 Schedule for possession of the said Apartment / Unit –– The Developer/Promoter agrees andunderstands and understands that timely delivery of possession of the [Apartment/ Unit] Apartment to the Purchaser/Allottee and the common areas to the Association of allottees Purchaser/Allottee(s)(s) or the competent authority, as the case may be, is the essence of the Agreement. The Developer/Promoter assures to handover possession of the [Apartment/ Unit] said Apartment along with ready and complete common areas with all specifications, amenities and facilities of the Project within March, 2020 in place on 31.12.2021 and it may further be extended for 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 real estate project (due to “Force Majeure”). If, however, the completion of the said Apartment/Project is delayed due to the Force Majeure conditions then the Allottee Purchaser/ Allottee(s) agrees that the Developer/Promoter shall be entitled to the extension of time for delivery of possession of the [Apartment/ said Apartment/Unit]. Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Purchaser/ Allottee(s) agrees and confirms that, in the event it becomes impossible for the Developer/Promoter to implement the project said Building/Project due to Force Majeure conditions, then this allotment shall stand terminated and the Developer/Promoter shall refund to the Purchaser/Allottee(s) the entire amount received by the Developer/Promoter from the Allotment within 45 days from that date. The Developer/Promoter shall intimate the Allottee Purchaser/Allottee(s) about such termination at least thirty days prior to such termination. After refund of the money paid by the AllotteePurchaser/Allottee(s), the Allottee Purchaser/Allottee(s) agreed that he/ she /they shall not have any rights, claims etc. against the Developer/ Promoter and the Developer/Promoter shall be released and discharged from all its obligations and liabilities under this Agreement.

POSSESSION OF THE APARTMENT / UNIT. 7.1 Schedule for possession of the said [Apartment / Unit –UNIT] – The Promoter agrees andunderstands and understands that timely delivery of possession of the [Apartment/ UnitUNIT] to the Allottee and the common areas to the Association of allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to handover possession of the [Apartment/ UnitUNIT] along with ready and complete common areas with all specifications, amenities and facilities of the Project within March, 2020 in place on 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 real estate project (“Force Majeure”). If, however, the completion of Project is delayed due to the Force Majeure conditions then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the [Apartment/ UnitUNIT]. Provided that such Force Majeure conditions are not of a nature which 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 project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee(s) the entire amount received by the Promoter from the Allotment within 45 days from that date. The Promoter shall intimate the Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee agreed 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 THE APARTMENT / UNIT. 7.1 Schedule for possession of the said Apartment / Unit –The Promoter Vendor/Developer agrees andunderstands that timely delivery of possession of the [Apartment/ Apartment and car parking space/ Unit] to the Allottee and the common areas to the Association of allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter Vendor/Developer assures to handover possession of the [Apartment/ Apartment and car parking space/ Unit] along with ready and complete common areas with all specifications, amenities and facilities of the Project within March, 2020 31st March 2024 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 real estate project (“Force Majeure”). If, however, the completion of Project is delayed due to the Force Majeure conditions then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the [Apartment/ Unit]Unit].It is herein expletively mentioned and agreed by both the parties that if the Vendor/Developer herein completes the project before the stipulated period as mentioned above and obtains occupancy certificate from the competent authority, the purchaser herein shall be bound to register Deed of Conveyance paying balance amount. Provided that such Force Majeure conditions are not of a nature which 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 Vendor/Developer to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter Vendor/Developer shall refund to the Allottee(s) the entire amount received by the Promoter Vendor/Developer from the Allotment within 45 days from that date. The Promoter Vendor/Developer shall intimate the Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee agreed that he/ she shall not have any rights, claims etc. against the Promoter Vendor/Developer and the Promoter Vendor/Developer shall be released and discharged from all its obligations and liabilities under this Agreement.

POSSESSION OF THE APARTMENT / UNIT. 7.1 Schedule for possession of the said [Apartment / Unit –UNIT] – The Promoter agrees andunderstands and understands that timely delivery of possession of the [Apartment/ UnitUNIT] to the Allottee and the common areas to the Association of allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to handover possession of the [Apartment/ UnitUNIT] along with ready and complete common areas with all specifications, amenities and facilities of the Project within March, 2020 in place on 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 real estate project (“Force Majeure”). If, however, the completion of Project is delayed due to the Force Majeure conditions then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the [Apartment/ UnitUNIT]. Provided that such Force Majeure conditions are not of a nature which 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 project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee(s) the entire amount received by the Promoter from the Allotment within 45 days from that date. The Promoter shall intimate the Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee agreed 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 occupancy certificate from the competent authority shall offer in writing the possession of the [Apartment/ UNIT], to the Allottee(s) in terms of this Agreement to be taken within 2 (two) months from the date of issue of occupancy certificate. [Provided that, in the absence of local law, the conveyance deed in favor of the Allottee shall be carried out by the Promoter within three months from the date of issue of occupancy certificate]. 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. The Allottee(s), after taking possession, agree(s) to pay the maintenance charges as determined by the Promoter/ Association of Allottees, as the case may be, after the issuance of completion certificate for the Project. The Promoter shall handover the occupancy certificate of the Apartment/ UNIT, as the case may be, to the Allottee at the time of conveyance of the same. 7.3 Failure of Allottee to take possession of [Apartment/ UNIT]- Upon receiving a written intimation from the Promoter as per Para 7.2 above, the Allottee(s) shall take possession of the [Apartment/ UNIT] from the Promoter by executing necessary indemnities, undertakings and such other documentation as prescribed in this Agreement and the Promoter shall give possession of the [Apartment/ UNIT] to the Allottee(s). In case the Allottee(s) fails to take possession within the time provided as per Para 7.2 above, such Allottee shall continue to be liable to pay maintenance charges as specified under Para 7.2 above. 7.4 Possession by the Allottee- After obtaining the occupancy certificate* and handing over physical possession of the [Apartment/ UNIT] to the Allottee, it shall be the responsibility of the Promoter to handover the necessary documents and plan, including common areas to the Association of allottees or the competent authority, as the case may be, as per the local laws: [Provided that, in the absence of any local law, the Promoter shall handover the necessary documents and plans, including common areas, to the Association of allottees or the competent authority, as the case may be, within thirty days after obtaining the completion certificate].