POSSESSION OF THE APARTMENT. 7.1. Schedule for possession of the said Apartment - The Promoter agrees and understands that timely delivery of possession of the Apartment to allottee and the common areas to the association of allottees and/or Federation or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Apartment by 31.01.2026 along with ready and complete common areas with all specifications, amenities and facilities of the project in place on unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other event or calamity 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. The 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 within 45 days the amount received by the Promoter from the allotment, subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to the Promoter. The promoter shall intimate the allottee about such termination. After refund of the money paid by the Allottee, the Allottee 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. The Allottee shall, after Possession is made over to him, use and enjoy the said Apartment/Residential Apartment in a manner not inconsistent with the rights hereunder and without committing any breach, default or creating any hindrance to the rights of the other occupiers/Allottees of the Joyville Project. If the Promoter fails to abide by the time schedule for completing Joyville Phase 1B and handing over the Apartment(s) to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified in the Rule, on all the amounts paid by the Allottee, for every month of delay, till handing over of the possession. The Allottee agrees to pay to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement from the date the said amount is payable by the Allottee to the Promoter till the payment is made.
Appears in 1 contract
Samples: Draft Without Prejudice
POSSESSION OF THE APARTMENT. 7.1. Schedule for possession of the said Apartment - [Apartment] – The Promoter agrees and understands that timely delivery of possession of the Apartment [Apartment] to allottee the Allottee and the common areas to the association Association of allottees and/or Federation or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over handover possession of the Apartment by 31.01.2026 along with ready and complete common areas with all specifications, amenities and facilities of the project Project in place on on---------------------- unless there is delay or failure due to war, flood, drought, fire, cyclone, cyclone earthquake or any other event or calamity affecting caused by nature effecting the regular development of the real estate project ("“Force Majeure"”), if. 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. Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee 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 within 45 days Allottee(s) the entire amount received by the Promoter from the allotment, subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to the PromoterAllotment 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 agrees agreed 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. Procedure for taking possession- The Promoter, upon obtaining the occupancy certificate from the competent authority shall offer in writing the possession of the Apartment, 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 shallshall 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 Possession is made over taking possession, agree(s) to himpay the maintenance charges as determined by the Promoter/ Association of Allottees, use and enjoy as the said case may be, after the issuance of completion certificate for the Project. The Promoter shall handover the occupancy certificate of the Apartment/Residential Apartment in a manner not inconsistent with , as the rights hereunder and without committing any breachcase may be, default or creating any hindrance to the rights Allottee at the time of conveyance of the other occupiers/Allottees same. Failure of Allottee to take possession of Apartment- Upon receiving a written intimation from the Promoter as per Para 7.2 above, the Allottee(s) shall take possession of the Joyville Project. If Apartment 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 to the Allottee(s). In case the Allottee(s) fails to abide 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. Possession by the time schedule for completing Joyville Phase 1B Allottee- After obtaining the occupancy certificate* and handing over physical possession of the Apartment(s) Apartment to the Allottee, it shall be the responsibility of the Promoter agrees to pay handover the necessary documents and plan, including common areas to the AllotteeAssociation of allottees or the competent authority, who does not intend as the case may be, as per the local laws. Cancellation by Allottee- The Allottee(s) shall have the right to cancel/withdraw his allotment in the Project as provided in the Act: Provided that where the Allottee(s) proposes to cancel/withdraw from Joyville Phase 1Bthe Project without any fault of the Promoter, interest with applicable taxes as specified in the Rule, on all Promoter herein is entitled to forfeit the amounts booking amount paid for the allotment. The balance amount of money paid by the Allottee, for every month of delay, till handing over of Allottee(s) shall be returned by the possession. The Allottee agrees to pay Promoter to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms Allottee(s) within forty-five days of this Agreement from the date the said amount is payable by the Allottee to the Promoter till the payment is madesuch cancellation.
Appears in 1 contract
Samples: (Agreement
POSSESSION OF THE APARTMENT. 7.1. Schedule for possession of the said Said Apartment - The Promoter agrees and understands that timely delivery of possession of the Said Apartment to allottee the Allottee and the common areas Common Areas of the Real Estate Project to the association of allottees and/or Federation or the competent authority, as the case may be, (upon its formation and registration) is the essence of the Agreement. The Promoter assures to hand over possession of the Said Apartment by 31.01.2026 along with ready and complete common areas Common Areas of the Real Estate Project (as specified in Schedule E below) with all specifications, amenities and facilities of the project specifications (as provided in Schedule D below) in place on December 2019 for (1) Block/Building No. 1A (namely Daisy) (2) Block/Building No. 1B (namely Orchid) (3) Block/Building No. 1C (namely Daffodil) (4) Block/Building No. 1D (namely Jasmine) and (4) Block/Building No. 2A (namely Lavender) and December 2020 for (1) Block/Building No. 1G (namely Lily) (2) Block/Building No. 1E (namely Lilac) (3) Block/Building No. 1F (namely Tulip) (4) Block/Building No. 2B (namely Marigold) and (5) Block/Building No. 2D (namely Irish) (“Completion Date”), unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other event or calamity caused by nature affecting the regular development of the real estate project Real Estate Project ("Force Majeure"), if. If, however, the completion of the Real Estate 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 ApartmentApartment Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The 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 within 45 days the entire amount received by the Promoter from the allotment, subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to the Promoterallotment within 45 days from that date. The promoter 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 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. The Allottee shall, after Possession is made over to him, use and enjoy the said Apartment/Residential Apartment in a manner not inconsistent with the rights hereunder and without committing any breach, default or creating any hindrance to the rights of the other occupiers/Allottees of the Joyville Project. If the Promoter fails to abide by the time schedule for completing Joyville Phase 1B and handing over the Apartment(s) to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified in the Rule, on all the amounts paid Date has been accepted by the Allottee. However, for every month if the Said Apartment is made ready prior to the Completion Date, the Allottee undertakes(s) and covenant (s) not to make or raise any objection to the consequent pre-ponement of delayhis/her /their/its payment obligations, till handing over having clearly agreed and understood that the payment obligations of the possession. The Allottee agrees to pay are linked inter alia to the Promoter interest with applicable taxes as prescribed under progress of construction, and the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement from the date the said amount same is payable by the Allottee to the Promoter till the payment is madenot a time linked plan.
Appears in 1 contract
Samples: Agreement for Sale
POSSESSION OF THE APARTMENT. 7.1. Schedule for possession of the said Apartment - Apartment: The Promoter agrees and understands that timely delivery of possession of the Apartment to allottee the Allottee and the common areas to Project Common Areasto the association of allottees and/or Federation Allottees or the competent authority, as the case may be, is of the essence of essenceof the Agreement. The Promoter assures to hand over possession of the Apartment by 31.01.2026 along with ready withready and complete common areas with all specifications, amenities and facilities of the project in place on 31st December 2025, unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature and any event or calamity happening which is beyond the control of the Promoter affecting the regular development of the real estate project ("“Force Majeure"”), if. If, however, the completion of the Project is delayed due delayeddue to the Force Majeure conditions (as defined in the Act) then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Apartment. Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The 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 within 45 days the entire amount received by the Promoter from the allotment, subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to the Promoterallotment within 45 days from that date. The 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 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. Procedure for taking possession – The Allottee Promoter, upon obtaining the occupancy certificate or completion certificate (which may be granted and termed as partial/block wise occupancy/completion certificate by the concerned municipal authority for the said Project at the said Project Land because of the fact that the concerned municipal authority may be granting a single sanctioned plan for both the said Project Land and for other phases of the Complex/Larger Land but the said partial completion certificate shall mean and include completion certificate for the said Project and the Wings constructed thereat), whichever be applicable, from the competent authority shall, after Possession is made over within a maximum period of 15 (fifteen) days from receiving such certificate from the competent authority, shall issue a notice in writing (“NOTICE OF POSSESSION”) by speed post/e-mail in favour of the Allottee calling upon the Allottee to him, use and enjoy take possession of the Apartment within a maximum of 45 (forty five) days from the date of the said Apartment/Residential Notice of Possession by the Allottee (“POSSESSION DATE”/ “DEEMED DATE OF POSSESSION”). Provided that, the conveyance deed in favour of the Allottee shall be executed and registered by the Promoter (subject, however, to the Allottee making all payments as mentioned in the Part II of Schedule-I hereto and taking possession of the Apartment in a manner not inconsistent with the rights hereunder and without committing any breach, default or creating any hindrance to the rights terms of the other occupiers/Allottees Notice of Possession and making payment of the Joyville Project. If the Promoter fails to abide by the time schedule for completing Joyville Phase 1B stamp duty, registration charges and handing over the Apartment(s) to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified in the Rule, on all the amounts paid by the Allottee, for every month of delay, till handing over of the possession. The Allottee agrees to pay legal charges and incidental expenses to the Promoter interest with applicable taxes as prescribed under per requisition of the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement Promoter) within 3 (three) months from the date the said amount is payable of issue of occupancy/ completion certificate (or such other certificate by whatever name called issued by the competent authority) and the Allottee shall be bound to register the conveyance deed within the time stipulated above. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee, after taking possession and/or from the Deemed Date of Possession, agree(s) to pay the maintenance charges as determined by the Promoter/ association of allottees, as the case may be. The Promoter shall handover the copy of the occupancy certificate/completion certificate (or such other certificate by whatever name called issued by the competent authority) of the apartment to the Promoter till Allottee at the payment is madetime of conveyance of the same.
Appears in 1 contract
Samples: Agreement for Sale
POSSESSION OF THE APARTMENT. 7.1. UNIT: Schedule for possession of the said Apartment - Apartment/ Unit- The Promoter Vendor/Developer agrees and understands that timely delivery of possession of the [Apartment and car parking space/Unit] to allottee the Allottee and the common areas to the association Association of allottees and/or Federation or the competent authority, as the case may be, is the essence of the Agreement. The Promoter Vendor/Developer assures to hand over handover possession of the [Apartment by 31.01.2026 and car parking space/ Unit] along with ready and complete common areas with all specifications, amenities and facilities of the project in place on Project within 2ND APRIL 2027 unless there is delay or failure due to war, flood, drought, fire, cyclone, cyclone earthquake or any other event or calamity affecting caused by nature effecting the regular development of the real estate project ("“Force Majeure"”), if. If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee agrees that the Promoter Vendor/Developer shall be entitled to the extension of time for delivery of possession of the Apartment[Apartment/ 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 by 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 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 within 45 days Allottee(s) the entire amount received by the Promoter Vendor/Developer from the allotment, subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to the PromoterAllotment within 45 days from that date. The promoter Vendor/Developer 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 agrees agreed that he/ she shall not have any rights, claims etc. against the Promoter Vendor/Developer and that the Promoter Vendor/Developer shall be released and discharged from all its obligations and liabilities under this Agreement. The Allottee shall, after Possession is made over to him, use and enjoy the said Apartment/Residential Apartment in a manner not inconsistent with the rights hereunder and without committing any breach, default or creating any hindrance to the rights of the other occupiers/Allottees of the Joyville Project. If the Promoter fails to abide by the time schedule for completing Joyville Phase 1B and handing over the Apartment(s) to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified in the Rule, on all the amounts paid by the Allottee, for every month of delay, till handing over of the possession. The Allottee agrees to pay to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement from the date the said amount is payable by the Allottee to the Promoter till the payment is made.
Appears in 1 contract
Samples: Agreement for Sale
POSSESSION OF THE APARTMENT. 7.1. Schedule for possession of the said Apartment - Apartment: The Promoter agrees and understands that timely delivery of possession of the Apartment to allottee the Allottee and the common areas Common Areas to the association Association of allottees and/or Federation or the competent authority, as the case may beAllottees , is the essence of the Agreement. Provided that the Promoter shall be entitled to reasonable extension of time as agreed by and between the Allottee and the Promoter for giving possession of the Apartment on the aforesaid date and the same shall not include the period of extension given by the Authority for registration. The Promoter Promoter, based on the approved plans and specifications, assures to hand over possession of the Apartment by 31.01.2026 along on 31st December, 2023 with ready and a grace period of six months (Completion date) in case the Promoter fails to complete common areas with all specifications, amenities and facilities of the project in place on Project. unless there is a delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other event calamity or calamity order, rule, notification of the Government and/or other public or competent authority/court and/or caused by nature affecting the regular development of the real estate project ("“Force Majeure"”), if. 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, Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. Promoter will be entitled to give block-wise and phase-wise possession upon obtaining the Completion Certificate/ Partial Completion Certificate of a building block or a particular phase as the case may be irrespective of the fact that construction of other Blocks and/or other phases and/or provision of facilities / Amenities may be incomplete. The 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 within 45 days the entire amount received by the Promoter from the allotment, subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to the Promoter. The promoter shall intimate the allottee about such terminationallotment within 45 days from that date. After refund of the money paid by the Allottee, the Allottee 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. The Allottee shallIt is clarified that all amounts collected as taxes, after Possession is made over to himcharges, use levies, cess, assessments and enjoy the said Apartment/Residential Apartment in a manner not inconsistent impositions and deposited with the rights hereunder appropriate authorities concerned shall not be returned by the Promoter and without committing any breachthe Allottee shall be free to approach the authorities concerned for refund of such taxes, default or creating any hindrance charges, levies, cess, assessments and impositions. The right of the Allottee shall remain restricted to the rights respective Apartment and the properties appurtenant thereto and the Allottee shall have no right, title or interest nor shall claim any right, title or interest of any kind whatsoever over and in respect of any other Apartment or space and/or any other portions of the other occupiers/Allottees Project or Complex. The Promoter has provided to the Allottee a time schedule for construction progress based on the milestones on which payment is due. The dates provided are only tentative and for the purpose of the Joyville Project. If the Promoter fails dealing with contractors and will also make efforts to abide by complete various stages as per the time schedule for completing Joyville Phase 1B and handing over the Apartment(s) to the Allottee, but the Promoter agrees to pay to the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified knows there will definitely be delays in the Rule, on all the amounts paid by the Allottee, for every month of delay, till handing over of the possession. The Allottee agrees to pay to timelines provided but the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by assures the Allottee to that the Promoter under Project will be completed within the terms of this Agreement from the date the said amount is payable by the Allottee to the Promoter till ‘Completion date’ provided herein above and accordingly tentative dates are mentioned in the payment is madeplan.
Appears in 1 contract
Samples: Agreement for Sale
POSSESSION OF THE APARTMENT. 7.1. 8.1 Schedule for possession of the said Apartment - Apartment: The Owner/Promoter agrees and understands that timely delivery of possession of the Apartment to allottee the Allottee and the common areas areas/ common parts and facilities to the association of allottees and/or Federation Allottee or the competent authority, authority as the case may be, be is the essence of the Agreement. The Promoter Owner/Promoter, assures to hand over possession of the Apartment by 31.01.2026 along with ready and complete common areas with all specificationsspecification , amenities and facilities facilitates of the project in place on 31- 03-2022 (“COMPLETION DATE”), unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake earthquake, pandemic or any other event or calamity caused by nature affecting the regular development of the real estate project ("“Force Majeure"”), if. If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee agrees that the Owner/Promoter shall be entitled to the extension of time for delivery of possession of the Apartment. Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee agrees and confirms that, in the event it becomes impossible for the Owner/Promoter to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Owner/Promoter shall refund to the Allottee within 45 days the entire amount received by the Owner/Promoter from the allotment, subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to the Promoterallotment within 45 days from that date. The promoter shall intimate the allottee Allottee about such termination at least 30 days prior to such termination. After refund of the money paid by the Allottee, the Allottee agrees that he/ she shall not have any rights, claims etc. against the Owner/Promoter and that the Owner/Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. The Allottee shall, after Possession is made over to him, use and enjoy the said Apartment/Residential Apartment in a manner not inconsistent with the rights hereunder and without committing any breach, default or creating any hindrance to the rights of the other occupiers/Allottees of the Joyville Project. If the Promoter fails to abide by the time schedule for completing Joyville Phase 1B and handing over the Apartment(s) to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified in the Rule, on all the amounts paid by the Allottee, for every month of delay, till handing over of the possession. The Allottee agrees to pay to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement from the date the said amount is payable by the Allottee to the Promoter till the payment is made.
Appears in 1 contract
Samples: A Greement for Sale
POSSESSION OF THE APARTMENT. 7.1. Schedule for possession of the said Said Apartment - The Promoter agrees and understands that timely delivery of possession of the Said Apartment to allottee the Allottee and the common areas Common Areas of the Real Estate Project to the association of allottees and/or Federation or the competent authority, as the case may be, (upon its formation and registration) is the essence of the Agreement. The Promoter assures to hand over possession of the Said Apartment by 31.01.2026 along with ready and complete common areas Common Areas of the Real Estate Project (as specified in Schedule E below) with all specifications, amenities and facilities of the project specifications (as provided in Schedule D below) in place on December, 2022 (“Completion Date”), unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other event or calamity caused by nature affecting the regular development of the real estate project Real Estate Project ("Force Majeure"), if. If, however, the completion of the Real Estate 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 ApartmentApartment Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The 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 within 45 days the entire amount received by the Promoter from the allotment, subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to the Promoterallotment within 45 days from that date. The promoter 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 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. The Allottee shall, after Possession is made over to him, use and enjoy the said Apartment/Residential Apartment in a manner not inconsistent with the rights hereunder and without committing any breach, default or creating any hindrance to the rights of the other occupiers/Allottees of the Joyville Project. If the Promoter fails to abide by the time schedule for completing Joyville Phase 1B and handing over the Apartment(s) to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified in the Rule, on all the amounts paid Date has been accepted by the Allottee. However, for every month if the Said Apartment is made ready prior to the Completion Date, the Allottee undertakes(s) and covenant (s) not to make or raise any objection to the consequent pre-ponement of delayhis/her /their/its payment obligations, till handing over having clearly agreed and understood that the payment obligations of the possession. The Allottee agrees to pay are linked inter alia to the Promoter interest with applicable taxes as prescribed under progress of construction, and the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement from the date the said amount same is payable by the Allottee to the Promoter till the payment is madenot a time linked plan.
Appears in 1 contract
Samples: Agreement for Sale
POSSESSION OF THE APARTMENT. 7.1. Schedule for possession of the said Apartment - The Promoter agrees and understands that timely delivery of possession of the Apartment to allottee and the common areas to the association of allottees and/or Federation or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Apartment by 31.01.2026 along with ready and complete common areas with all specifications, amenities and facilities of the project in place on unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other event or calamity 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. The 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 within 45 days the amount received by the Promoter from the allotment, allotment subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to the Promoter. The promoter shall intimate the allottee about such termination. After refund of the money paid by the Allottee, the Allottee 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. The Allottee shall, after Possession is made over to him, use and enjoy the said Apartment/Residential Apartment in a manner not inconsistent with the rights hereunder and without committing any breach, default or creating any hindrance to the rights of the other occupiers/Allottees of the Joyville Project. If the Promoter fails to abide by the time schedule for completing Joyville Phase 1B and handing over the Apartment(s) to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified in the Rule, on all the amounts paid by the Allottee, for every month of delay, till handing over of the possession. The Allottee agrees to pay to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement from the date the said amount is payable by the Allottee to the Promoter till the payment is made. Subject to Force Majeure Events, if the Promoter fails to deliver possession within , the Promoter shall be liable to pay such compensation as may be prescribed under the Rules framed under WBRERA or at such specified rate as may be specified by the Promoter and as agreed by the Allottee and which both parties agree that it is a reasonable estimate of the damages that the Allottee may suffer and the Allottee agrees that the Allottee shall have no other rights and/or remedies and/or claims whatsoever. The same will be adjusted with the amount payable as demanded in the “Notice of Possession”. The Promoter will pay all taxes, rates and cesses, maintenance charges and other outgoings in respect of the said Apartment up to the date of issue of the Notice of Possession.
Appears in 1 contract
Samples: Agreement for Allotment of Apartment
POSSESSION OF THE APARTMENT. 7.1. Schedule for possession of the said Apartment - Apartment: The Promoter agrees agree and understands understand that timely delivery of possession of the Apartment Unit to allottee the Allottee and the common areas Phase Common Portions to the association Association of allottees and/or Federation the Allottees of the Said Phase or the competent authorityCompetent Authority, as the case may be, is the essence of the Agreement. The Promoter assures assure to hand over handover possession of the Apartment by 31.01.2026 along with ready and complete common areas Block Common Portions with all specificationsthe Specifications, amenities Amenities and facilities of Facilities thereof on the project date mentioned in place on Para F unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake pandemic, earthquake, labour strikes or disruptions of any nature, any statutory order, rule, notification, or order or direction of any Court or any other event or calamity caused by nature affecting the regular development of the real estate project ("Force Majeure"), if. If, however, the completion of the Project Said Phase 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, provided that such Force Majeure conditions are not of a nature which makes it impossible and/or difficult for the contract to be implemented. The Allottee agrees and confirms that, in the event it if becomes impossible for the Promoter to implement the project Said Phase due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee the entire amount paid by him/her to the Promoter for the allotment within 45 days from that date, less the amount received by taxes, if any. For the Promoter from the allotment, subject to adjustment and recovery refund of any agreed liquidated damages or any other amount which may taxes, the Allottee shall be payable required to apply directly to the Promoter. The promoter shall intimate the allottee about such terminationconcerned authorities. After refund of the money paid by the Allottee, the Allottee agrees that he/ he/she shall not have any rights, claims etc. against any of the Promoter and that the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. Procedure for taking possession: The Promoter, upon obtaining of the occupancy certificate or the completion certificate or the partial occupancy certificate or the partial completion certificate, as the case may be, for the Said Block from the competent authority shall offer possession of the Said Apartment in writing by way of a notice to the Allottee in terms of this Agreement and the allottee shall be liable to take such possession of the unit within 3 (three) months from the date of issue of such notice by executing necessary indemnities, undertakings and such other documentation as prescribed in this agreement, hereafter referred to as the "Possession Date". Irrespective of whether the Allottee takes possession of the Apartment within the Possession Date or not, the Allottee shall be deemed to have taken possession of the Apartment on the Possession Date and maintenance charges and other applicable charges in respect to the Apartment shall be applicable from such date when the possession becomes due. If the Allottee has also purchased a Parking Space in allocated parking Space, the same may not be handed over to the Allottee along with the Apartment, but irrespective of whether the Parking Space is handed over or not, or all parts and portions of the Phase Common Portions are completed or not, the Allottee shall be bound to take possession of the Apartment within the stipulated time as shall be mentioned in the said notice of possession. The Allottee shallshall pay the requisite Stamp Duty, Registration Fee and other charges, hereafter the "Registration Charges", for registration of the Conveyance Deed of the Apartment within 3 (three) months from the date of issuance of the occupancy certificate or the completion certificate or the partial occupancy certificate or the partial completion certificate, as the case may be, for the Said Block at the cost and expense of the Allottee. The Promoter shall have the conveyance deed executed and registered in favour of the Allottee immediately after receipt of the Registration Charges. The Promoter and the Allottee shall fully cooperate with each other in this regard. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfilment of any of the provisions, formalities, documentation on part of the Promoter. Till such time the conveyance is registered in accordance with Clause 8(9) hereunder, the Promoter may not hand over possession of the Apartment to the Allottee but yet the Allottee will be deemed to have taken possession on the Possession is made over Date and shall be liable to him, use and enjoy make payments towards the maintenance charges and/or other applicable charges in respect of the said Apartment/Residential Apartment in a manner not inconsistent with the rights hereunder and without committing any breach, default or creating any hindrance to the rights of the other occupiers/Allottees of the Joyville Project. If the Promoter fails to abide by the time schedule for completing Joyville Phase 1B and handing over the Apartment(s) to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified in the Rule, on all the amounts paid by the Allottee, for every month of delay, till handing over of the possession. The Allottee agrees to pay the Maintenance Charges as determined by the Promoter or the Phase Association, as the case may be, on and from the Possession Date irrespective of whether it takes possession or not given possession for non-registration of the conveyance. Upon receipt of the Partial Completion Certificate or Completion Certificate or Partial Occupancy Certificate or Occupancy Certificate, as the case may be, the Promoter shall intimate the Allottee for taking the possession. The Promoter on its behalf shall offer the possession to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement in writing within 3 (three) months from the date of issue of such notice and the said amount is payable by Promoter shall give possession of the Apartment to the Allottee. Possession Date shall be the date as mentioned in the Possession Intimation Notice. The Promoter shall handover a copy of the occupancy certificate or the completion certificate or the partial occupancy certificate or the partial completion certificate, as the case may be, for the Said Block to the Allottee to at the Promoter till time of registering the payment is madedeed of conveyance of the same.
Appears in 1 contract
Samples: Agreement for Sale
POSSESSION OF THE APARTMENT. 7.1. i. Schedule for possession of the said Apartment - The Promoter Owner/Developer agrees and understands that timely delivery of possession of the said Apartment to allottee and the common areas to the association of allottees and/or Federation or the competent authority, as the case may be, Allottee is the essence of the Agreement. The Promoter Owner/Developer assures to hand over possession of the Apartment by 31.01.2026 along within 31st January, 2020 with ready and complete common areas with all specifications, amenities and facilities a grace period of the project in place on 6(six) months (“Committed Possession Date”) unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other event calamity caused by nature or calamity any other reason beyond the reasonable control of the Owners/Developer affecting the regular development of the real estate project ("“Force Majeure"”), if, . If however, the completion of the Project is delayed due to the Force Majeure conditions conditions, then the Allottee agrees that the Promoter Owner/Developer shall be entitled to the extension of time for delivery of possession of the said Apartment, provided that such Force Majeure conditions are not of a nature which makes it impossible for the contract to be implemented. The Allottee agrees and confirms that, in the event it becomes impossible for the Promoter Owner/Developer to implement the project Project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter Owner/Developer shall refund to the Allottee within 45 days the entire amount received by the Promoter Owner/Developer from the allotment, subject to adjustment and recovery of Allottee within 45 (forty-five) days from that date without any agreed liquidated damages or any other amount which may be payable to the Promoterinterest. The promoter Owner/Developer shall intimate the allottee Allottee about such termination at least 30 (thirty) days prior to such termination. After refund of the money paid by the Allottee, the Allottee agrees that he/ she he/she/they shall not have any rightsright, claims claim etc. against the Promoter Owner/Developer and/or the Apartment and that the Promoter Owner/Developer shall be released and discharged from all its obligations and liabilities under this Agreement. The Allottee shall, after Possession is made over to him, use and enjoy the said Apartment/Residential Apartment in a manner not inconsistent with the rights hereunder and without committing any breach, default or creating any hindrance to the rights of the other occupiers/Allottees of the Joyville Project. If the Promoter fails to abide by the time schedule for completing Joyville Phase 1B and handing over the Apartment(s) to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified in the Rule, on all the amounts paid by the Allottee, for every month of delay, till handing over of the possession. The Allottee agrees to pay to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement from the date the said amount is payable by the Allottee to the Promoter till the payment is made.
Appears in 1 contract
Samples: Agreement for Sale
POSSESSION OF THE APARTMENT. 7.1. Schedule for possession of the said Apartment - The Promoter agrees and understands that timely delivery of possession of the said Apartment to allottee the Allottee(s) and the common areas Common Areas to the association of allottees and/or Federation Association or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the said Apartment by 31.01.2026 along with ready and complete common areas with Common Areas, all specifications, amenities and facilities of the project said Project in place on , , 20 with a grace period of 6 months unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other event or calamity caused by nature affecting the regular development of the real estate project or any unforeseen occurrences, acts, court order, events, omissions or accidents which are beyond the reasonable control of the Owners and the Promoter so prevented and does not arise out of a breach by such Party of any of its obligations under this agreement ("“Force Majeure"”), if, . If however, the completion of the said Project is delayed due to the Force Majeure conditions then the Allottee agrees Allottee(s) agree(s) that the Promoter shall be entitled to the extension of time for delivery of possession of the said Apartment, provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee agrees Allottee(s) agree(s) and confirms confirm(s) that, in the event it becomes impossible for the Promoter to implement the project said Project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee within 45 days Allottee(s) the entire amount {less any taxes collected from the Allottee(s)} received by the Promoter from the allotment, subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to the Promoterallotment within 45 (forty five) days from that date. The promoter Promoter shall intimate the allottee Allottee(s) about such termination at least 30 (thirty) days prior to such termination. After refund of the money paid by the Allottee, the Allottee agrees Allottee(s) agree(s) 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. The Allottee shallIt is clarified that all amounts collected as taxes, after Possession is made over to himcharges, use levies, cess, assessments and enjoy the said Apartment/Residential Apartment in a manner not inconsistent impositions and deposited including stamp duty, registration charges and incidental charges with the rights hereunder appropriate authorities concerned shall not be returned by the Promoter and without committing any breachthe Allottee(s) shall be free to approach the authorities concerned for refund of such taxes, default or creating any hindrance charges, levies, cess, assessments and impositions. Procedure for taking possession – The Promoter, upon obtaining the occupancy certificate/completion certificate from the competent authority shall offer in writing the possession of the Apartment (Possession Notice), to the rights of the other occupiers/Allottees of the Joyville Project. If the Promoter fails to abide by the time schedule for completing Joyville Phase 1B and handing over the Apartment(sAllottee(s) to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified in the Rule, on all the amounts paid by the Allottee, for every month of delay, till handing over of the possession. The Allottee agrees to pay to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement to be taken within two months from the date of issue of occupancy certificate/completion certificate (Possession Date). Provided That, in the absence of local law and subject to the Allottee(s) complying with its/their obligations hereunder, the conveyance deed in favour of the Allottee(s) shall be carried out by the Owners and the Promoter within 3 (three) months from the date of issue of occupancy certificate/completion certificate subject to the Allottee making payment on account of stamp duty, registration fee etc., Provided Further That the Promoter shall not be liable to deliver possession of the Apartment to the Allottee nor to execute or cause to be executed Conveyance Deed or other instruments until such time the Allottee(s) makes payment of the Total Consideration of the said amount is payable Apartment, Total GST and Total Extras and Deposits as mentioned in 1.2.1, 1.2.2 and 1.2.3 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(s) to be observed and performed until then. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter, not due to any act or omission on the part of the Allottee(s). The Allottee(s), after taking possession, agree(s) to pay the maintenance charges as determined by the Promoter/association of Allottee(s), as the case may be, after the issuance of the Occupancy certificate/Completion certificate for the said Project. The Promoter shall hand over copy of the occupancy certificate/completion certificate of the Apartment to the Allottee(s) at the time of conveyance of the same. The Promoter shall hand over copy of the occupancy certificate/completion certificate to the Association after the formation of the Association. Failure of Allottee(s) to take possession of Apartment – Upon receiving a written intimation from the Promoter as per para 7.2, the Allottee(s) shall take possession of the Apartment from the Promoter by executing necessary indemnities, undertakings and such other documentation as required and the Promoter shall give possession of the Apartment to the Allottee(s). In case the Allottee(s) fail(s) to take possession within the time provided in para 7.2 such Allottee(s) shall be deemed to be in such possession and the Allottee(s) shall be liable to pay maintenances charges, municipal tax and other outgoings and further pay holding charge of Rs. /- (Rupees ) only per month or part thereof to the Promoter till for the payment is made.period of delay in taking possession from such date as notified in the Possession Notice (Deemed Possession). On and from the Possession or Deemed Possession date:
Appears in 1 contract
Samples: Agreement for Sale
POSSESSION OF THE APARTMENT. 7.1. Schedule for possession of the said Apartment - Apartment:- The Promoter agrees and understands that timely delivery of possession of the Apartment to allottee the Allottee and the common areas to the association Association of allottees and/or Federation Allottees or the competent authorityCompetent Authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Apartment by 31.01.2026 along with ready and complete common areas with all specifications, amenities and facilities of the project in place on within 31.12.2022 unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other event or calamity caused by nature affecting the regular development of the real estate project ("“Force Majeure"”), if. 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. Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The 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 within 45 days the entire amount received by the Promoter from the allotment, subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to the Promoterallotment within 45 days from that date. The 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 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. Procedure for taking possession – The Allottee shallPromoter, after Possession is made over to himupon obtaining the occupancy certificate from the competent authority shall offer in writing the possession of the Apartment, use and enjoy the said Apartment/Residential Apartment in a manner not inconsistent with the rights hereunder and without committing any breach, default or creating any hindrance to the rights of the other occupiers/Allottees of the Joyville Project. If the Promoter fails to abide by the time schedule for completing Joyville Phase 1B and handing over the Apartment(s) to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified Allottee in the Rule, on all the amounts paid by the Allottee, for every month of delay, till handing over of the possession. The Allottee agrees to pay to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement to be taken within two months from the date of issue of occupancy certificate. [Provided that, in the said amount is payable absence of local law, the conveyance deed in favour of the Allottee shall be carried out by the Promoter within 3 months from the date of issue of Occupancy Certificate]. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee after taking possession, agree(s) to pay the maintenance charges as determined by the Promoter/Association of Allottees, as the case maybe after the issuance of the Completion Certificate for the project. The Promoter shall hand over the occupancy certificate of the Apartment, as the case may be, to the Promoter till Allottee at the payment is madetime of conveyance of the same. In case, the Allottee express his /her/their view to take physical possession of the under constructed apartment and gives a written application for handover of physical possession in such case the completion certificate shall be handed over only after obtaining the same from the competent authority.
Appears in 1 contract
Samples: Agreement for Sale
POSSESSION OF THE APARTMENT. 7.1. The Schedule for possession of the said Apartment - one Flat and the said under roof one Car Parking Space : The Promoter Second Party / Developer herein agrees and understands that timely delivery of possession of the Apartment to allottee said one Flat and the common areas to the association of allottees and/or Federation or the competent authority, as the case may be, said under roof one Car Parking Space is the essence of the Agreementthis Agreement For Sale. The Promoter Second Party / Developer herein, based on the approved plans and specifications, assures to hand over possession of the Apartment by 31.01.2026 along with ready said one Flat and complete common areas with all specifications, amenities and facilities of the project in place said under roof one Car Parking Space expected as on unless / / 202 . Unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other event or calamity calmity caused by nature affecting the regular development of the real estate project ("Force Majeure"), if. If, however, the completion of the Project said project is delayed due to the "Force Majeure Majeure" conditions then the Allottee Third Party / Purchasers herein agrees that the Promoter Second Party / Developer herein shall be been entitled to the extension of time for delivery of possession of the Apartmentsaid one Flat and the said under roof one Car Parking Space, provided that such "Force Majeure" conditions are not of a nature which make it impossible for the contract to the implemented. The Allottee Third Party / Purchasers herein agrees and confirms that, in the event it becomes impossible for the Promoter Second Party / Developer herein to implement the project said Project due to "Force Majeure Majeure" conditions, then this allotment shall stand terminated and the Promoter Second Party / Developer herein shall refund to the Allottee within 45 days Third Party / Purchasers herein the entire amount received by the Promoter Second Party / Developer herein from the allotment, subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to the Promoter. The promoter shall intimate the allottee about such terminationallotment within 45 days from that date. After refund of the money paid by the AllotteeThird Party / Purchasers herein, the Allottee Third Party / Purchasers herein agrees that he/ she they (the Third Party / Purchasers herein) shall not have any rights, rights claims etc. against the Promoter Second Party / Developerr herein and that the Promoter Second Party / Developer herein shall be released and discharged from all its obligations obligaitons and liabilities under this AgreementAgreement For Sale. Procedure for taking possession :- The Second Party / Developer herein, upon obtaining the occupancy or completion certificate from the competent authority shall offer in writing to take the possession of the said one Flat and the said under roof one Car Parking Space to the Third Party / Purchasers herein in terms of this Agreement For Sale to be taken within 03 (three) months from the date of issue of such notice and the Second Party / Developer herein shall give possession of the said one Flat and the said under roof one Car Parking Space, to the Third Party / Purchasers herein. The Allottee shallSecond Party / Developer herein agrees and undertakes to indemnify the Third Party / Purchasers herein in case of failure of fulfilment of any of the provision, after Possession is made over formalities, documentation on part of the Second Party / Developer herein. The Third Party / Purchasers herein agrees to him, use and enjoy pay the maintenance charges as shall be determind by the Second Party / Developer herein or Association of all purchaser(s) or owner(s) as the case may be. The Second Party / Developer herein on its behalf shall offer the possession to the Third Party / Purchasers herein in writing within 30 days of receiving the occupancy certificate or completion certificate from the KMC of the said Apartment/Residential Apartment Project. Failure of the Third Party / Purchasers herein to take possession of the said one Flat and the said under roof one Car Parking Space Upon receiving a written intimation from the Second Party / Developer herein as per clause 7.2, the Third Party / Purchasers herein shall take possession of the said one Flat and the said under roof one Car Parking Space from the Second Party / Developer herein by executing necessary indemnities, undertakings and such other documentation as prescribed in a manner not inconsistent with this Agreement For Sale and the rights hereunder Second Party / Developer herein shall give possession of the said one Flat and without committing any breach, default or creating any hindrance the said under roof one Car Parking Space to the rights of Third Party / Purchasers herein. In case the other occupiers/Allottees of the Joyville Project. If the Promoter Third Party / Purchasers herein fails to abide take possession within the time provided in clause 7.2, such the Third Party / Purchasers herein shall continue to be liable to pay maintenance charges as applicable. Possession by the time schedule for completing Joyville Phase 1B Third Party / Purchasers herein After obtaining the occupancy certificate or completion certificate from the KMC and handing over physical possession of the Apartment(s) said one Flat and the said under roof one Car Parking Space to the AllotteeThird Party / Purchasers herein, it shall be the responsibility of the Second Party / Developer herein to hand over the necessary documents and plans, including common areas, to the association of the all purchaser(s) or all owner(s) or the competent authority, as the case may be as per the local laws. Cancellation by the Third Party / Purchasers herein The Third Party / Purchasers herein shall have the right to cancel / withdraw their (the Third Party / Purchasers herein) allotment in the said project as provided in the Act. Provided that where the Third Party / Purchasers herein proposes to cancel or withdraw from the said Project without any fault of the Second Party / Developer herein, the Promoter agrees Second Party / Developer herein is entitled to pay forfeit the booking amount paid for the allotment. The balance amount of money paid by the Third Party / Purchasers herein shall be returned by the Second Party / Developer herein to the AllotteeThird Party / Purchasers herein within 45 days of such cancellation. Compensation :- The Second Party / Developer herein shall compensate to the Third Party / Purchasers herein in case of any loss caused to them (the Third Party / Purchasers herein) due to defective title of the said Bastu Land, who on which the said Project is being developed or has been development in the manner as provided under the Act. and the claim for compensation under this section shall not be barred by limitation provided under any law for the time being in force. Except for occarance of a "Force Majeure" event, if the Second Party / Developer herein fails to complete or is unable to give possession of the said one Flat and the said under roof one Car Parking Space (i) in accordance with the terms of this Agreement For Sale, duly completed by the date specified herein, or (ii) due to discontinuance of its business as a Developer on account of suspension of revocation of the registration under the Act. or for any other reason, the Second Party / Developer herein shall be liable to compensate, on demand to the Third Party / Purchasers herein, in case the Third Party / Purchasers herein wish to withdraw from the said Project, without prejudice to any other remedy available, to return the total amount received by the Second Party / Developer herein in respect of the said one Flat and the said under roof one Car Parking Space, with interest at the rate specfied in the rules within 45 days including compensation in the manner as provided under the Act. Provided that where, the Third Party / Purchasers herein does not intend to withdraw from Joyville Phase 1Bthe said Project, the Second Party / Developer herein shall pay the Third Party / Purchasers herein interest with applicable taxes as at the rate specified in the Rule, on all the amounts paid by the Allottee, rules for every month of delay, till the handing over of the possession. The Allottee agrees to pay to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms possession of this Agreement from the date the said amount is payable by one Flat and the Allottee to the Promoter till the payment is madesaid under roof one Car Parking Space.
Appears in 1 contract
Samples: 202.61.117.163
POSSESSION OF THE APARTMENT. 7.1. Schedule for possession of the said Apartment - Apartment: The Promoter agrees and understands that timely delivery of possession of the Apartment to allottee the Allottee and the common areas to the association Association of allottees and/or Federation Allottees or the competent authorityCompetent Authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Apartment by 31.01.2026 along with ready and complete common areas with all specifications, amenities and facilities of the project in place on within , ………… with a grace period of further six months unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other event or calamity caused by nature affecting the regular development of the real estate project ("“Force Majeure"” as mentioned in Cl.7.1 and with Application of Booking Form Cl.9A & 9B), if. 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. Procedure for taking possession – The Promoter, upon obtaining the occupancy certificate from the competent authority shall offer in writing the possession of the Apartment, to the Allottee agrees and confirms in terms of this Agreement to be taken within two months from the date of issue of Occupancy Certificate. Provided that, in the event it becomes impossible for absence of local law, the Promoter to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to conveyance deed in favour of the Allottee within 45 days the amount received shall be carried out by the Promoter within 3 months from the allotment, subject date of issue of Occupancy Certificate. The Promoter agrees and undertakes to adjustment and recovery indemnify the Allottee in case of failure of fulfillment of any agreed liquidated damages or any other amount which may be payable to of the provisions, formalities, documentation on part of the Promoter. The promoter shall intimate Allottee after taking possession, agree(s) to pay the allottee about such termination. After refund maintenance charges as determined by the Promoter/Association of Allottees, as the case may be after the issuance of the money paid by Completion Certificate for the Allotteeproject. The Promoter shall hand over the Occupancy Certificate of the Apartment, as the case may be, to the Allottee agrees at the time of conveyance of the same. It is pertinent to mention that he/ she shall not have in case any rights, claims etc. against allottee place a written proposal for registration of Deed of Conveyance in his favour of the Promoter and that under constructed area then the Promoter same shall be released and discharged from all its obligations and liabilities under this Agreement. The Allottee shall, registered in his name but the Completion/Occupancy Certificate shall be handed over later after Possession is made over to him, use and enjoy the said Apartment/Residential Apartment in a manner not inconsistent with the rights hereunder and without committing any breach, default or creating any hindrance to the rights completion of the other occupiers/Allottees phase of the Joyville Project. If the Promoter fails to abide by the time schedule for completing Joyville Phase 1B and handing over the Apartment(s) to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified in the Rule, on all the amounts paid by the Allottee, for every month of delay, till handing over of the possession. The Allottee agrees to pay to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement from the date the said amount is payable by the Allottee to the Promoter till the payment is madeproject.
Appears in 1 contract
Samples: Agreement for Sale
POSSESSION OF THE APARTMENT. 7.1. 8.1 Schedule for possession of the said Apartment - Apartment: The Promoter agrees and understands that timely delivery of possession of the Apartment to allottee the Allottee and the common areas Common Areas to the association Association of allottees and/or Federation or the competent authority, as the case may be, Allottee(s) is the essence of the Agreement. Provided that the Promoter shall be entitled to reasonable extension of time as agreed by and between the Allottee and the Promoter for giving possession of the Apartment on the aforesaid date and the same shall not include the period of extension given by the Authority for registration. The Promoter Promoter, based on the approved plans and specifications, assures to hand over possession of the Apartment by 31.01.2026 along with ready and complete common areas with all specifications30.06.2019, amenities and facilities of the project in place on unless there is a delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other event calamity or, order, rule, notification of the Government and/or other public or calamity competent authority/court and/or caused by nature affecting the regular development of the real estate project ("“Force Majeure"”), if. 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, Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. Promoter will be entitled to give block- wise upon obtaining the Completion Certificate/ Partial Completion Certificate of a building block or as the case may be irrespective of the fact that construction of other Blocks and/or other phases and/or provision of facilities may be incomplete. The 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 within 45 days the entire amount received by the Promoter from the allotment, subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to the Promoter. The promoter shall intimate the allottee about such terminationallotment within 45 days from that date. After refund of the money paid by the Allottee, the Allottee 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. The Allottee shall, after Possession is made over to him, use and enjoy the said Apartment/Residential Apartment in a manner not inconsistent with the rights hereunder and without committing any breach, default or creating any hindrance to the rights of the other occupiers/Allottees of the Joyville Project. If the Promoter fails to abide by the time schedule for completing Joyville Phase 1B and handing over the Apartment(s) to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified in the Rule, on all the amounts paid by the Allottee, for every month of delay, till handing over of the possession. The Allottee agrees to pay to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement from the date the said amount is payable by the Allottee to the Promoter till the payment is made.
Appears in 1 contract
Samples: Agreement for Sale
POSSESSION OF THE APARTMENT. 7.1. UNIT: Schedule for possession of the said Apartment - / Unit –The Promoter Vendor/Developer agrees and understands andunderstands that timely delivery of possession of the [Apartment and car parking space/ Unit] to allottee the Allottee and the common areas to the association Association of allottees and/or Federation or the competent authority, as the case may be, is the essence of the Agreement. The Promoter Vendor/Developer assures to hand over handover possession of the [Apartment by 31.01.2026 and car parking space/ Unit] along with ready and complete common areas with all specifications, amenities and facilities of the project in place on Project within 31st March 2023 unless there is delay or failure due to war, flood, drought, fire, cyclone, cyclone earthquake or any other event or calamity affecting caused by nature effecting the regular development of the real estate project ("“Force Majeure"”), if. 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[Apartment/ 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 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 within 45 days Allottee(s) the entire amount received by the Promoter Vendor/Developer from the allotment, subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to the PromoterAllotment within 45 days from that date. The promoter Vendor/Developer 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 agrees agreed that he/ she shall not have any rights, claims etc. against the Promoter Vendor/Developer and that the Promoter Vendor/Developer shall be released and discharged from all its obligations and liabilities under this Agreement. The Allottee shall, after Possession is made over to him, use and enjoy the said Apartment/Residential Apartment in a manner not inconsistent with the rights hereunder and without committing any breach, default or creating any hindrance to the rights of the other occupiers/Allottees of the Joyville Project. If the Promoter fails to abide by the time schedule for completing Joyville Phase 1B and handing over the Apartment(s) to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified in the Rule, on all the amounts paid by the Allottee, for every month of delay, till handing over of the possession. The Allottee agrees to pay to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement from the date the said amount is payable by the Allottee to the Promoter till the payment is made.
Appears in 1 contract
Samples: Agreement for Sale
POSSESSION OF THE APARTMENT. 7.1. Schedule for ScheduleforpossessionofthesaidApartment:ThePromoteragreesandunderstandsthattimelydeliveryof possession of the said Apartment - The Promoter agrees and understands that timely delivery of possession of the Said Apartment to allottee and the common areas to the association of allottees and/or Federation or the competent authority, as the case may be, is the essence of the Agreement. The Promoter Promoter, based on the approved plans and specifications, assures to hand over possession of the Apartment by 31.01.2026 along with ready and complete common areas with all specifications, amenities and facilities of the project in place on Said Apartmenton 31st December 2027 unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other event or calamity caused by nature affecting the regular development of the real estate project or any further delay(s) beyond the control of the Promoter due to epidemic, pandemic, quarantine restriction, state or nationwide lockdown, including any future disruptions due to the coronavirus disease or other circumstances deemed by the Authority to be force majeure events ("Force Majeure"), if. 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, provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The 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 standterminated and the Promoter shall refund to the Allottee within 45 days the entire amount received by the Promoter from the allotment, subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to the Promoter. The promoter shall intimate the allottee about such terminationallotment within 45 days from that date. After refund of the money paid by the Allottee, the Allottee Xxxxxxxx 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 formalist obligations and liabilities under this Agreement. The Allottee shallPossession Date has been accepted by the Allottees. However, after Possession if the Said Apartment is made ready prior to the Completion Date, the Allottees undertake and covenant not to make or raise any objection to the consequent pre-ponement of his/her/their/its payment obligations, having clearly agreed and unders tood that the payment obligations of the Allottees are linked inter alia to the progress of construction, and the same is not a time linked plan. Notwithstanding anything elsewhere to the contrary herein contained, it is expressly agreed understood and clarified that if at any time, the customer is required to pay any stamp duty, registration fee, legal fees, other expenses, etc., (over and above the one to him, use and enjoy be paid by the Allottes for registration of the said Apartment/Residential Apartment in a manner not inconsistent with ) which becomes payable therefor, then the rights hereunder same shall be borne paid and without committing any breach, default or creating any hindrance to discharged by the rights allottees of the other occupiers/Project (including the Allottees of the Joyville Project. If herein) proportionately and the Promoter fails to abide by and/or the time schedule for completing Joyville Phase 1B Owners shall not be liable therefor in any manner whatsoever and handing over the Apartment(s) to Allottees and the Allottee, other allottees shall keep the Promoter agrees to pay to and the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest Owners fully indemnified with applicable taxes as specified in the Rule, on all the amounts paid by the Allottee, for every month of delay, till handing over of the possession. The Allottee agrees to pay to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement from the date the said amount is payable by the Allottee to the Promoter till the payment is maderegard thereto.
Appears in 1 contract
Samples: Seerule9] Agreement
POSSESSION OF THE APARTMENT. 7.1. Schedule for possession of the said Apartment - – The Promoter agrees and understands that timely delivery of possession of the Apartment to allottee the Allottee and the common areas to the association Association of allottees and/or Federation or the competent authority, as the case may be, is the essence of the XXXXXXX XXXXXXXX BUILDCON LLP Partner For Represented as Constituted Attorney on behalf of Om Xxxxxxx Xxxxxxxx = 12 = Agreement. The Promoter assures to hand over handover possession of the Apartment by 31.01.2026 along with ready and complete common areas with all specificationswithin 31st December 2024 for Xxxxxx Xxxx Phase – III, amenities and facilities of the project in place on unless there is delay or failure due to war, flood, drought, fire, cyclone, cyclone earthquake or any other event or calamity affecting caused by nature effecting the regular development of the real estate project ("“Force Majeure"”), if. 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. Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee 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 within 45 days Allottee(s) the entire amount received by the Promoter from the allotment, subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to the PromoterAllotment 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 agrees agreed 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. Procedure for taking possession- The Promoter, upon issue of the Partial or Full Occupancy/Completion Certificate by the Corporation/competent authority, shall offer in writing the possession (“Possession Notice”) of the said Apartment to the Allottee shallin terms of this Agreement to be taken by the Allottee within two months from the date of issue of occupancy/completion certificate subject to due compliance of Clause 7.1 by the Allottee and subsequently the Deed of Conveyancein favour of the Allottee shall be executed by the Promoter and the Allottee within 3 months from the date of issue of Occupancy/Completion Certificate. The Allottee, after Possession is made over issue of notice for taking possession, agrees to himpay the maintenance charges as determined by the Promoter/Association of allottees, use as the case may be, municipal taxes and enjoy other outgoings, electricity charges, other charges, rates, taxes, levies, deposits in respect of the said ApartmentApartment Unit from the Date of Possession or the Date of Commencement of Liabilities, whichever is earlier. The Promoter shall hand over the occupancy/Residential completion certificate of the said Apartment in a manner not inconsistent with the rights hereunder and without committing any breach, default or creating any hindrance to the rights Allottee at the time of execution of the other occupiers/Allottees Deed of Conveyance of the Joyville Projectsame. If Failure of Allottee to take possession of Apartment- Upon receiving a written intimation from the Promoter as per Para 7.2 above, the Allottee(s) shall make full payment of all dues and comply with all obligations and thereafter shall take possession of the Apartment 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 to the Allottee(s). In case the Allottee(s) fails to abide 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. Possession by the time schedule for completing Joyville Phase 1B Allottee- After obtaining the occupancy certificate and handing over physical possession of the Apartment(s) Apartment to the Allottee, it shall be the responsibility of the Promoter agrees to pay handover the necessary documents and plan, including common areas to the AllotteeAssociation of allottees or the competent authority, who does not intend as the case may be, as per the local laws: Contd…. P / 13 XXXXXXX XXXXXXXX BUILDCON LLP Partner For Represented as Constituted Attorney on behalf of Om Xxxxxxx Xxxxxxxx = 13 = 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. Cancellation by Allottee- The Allottee(s) shall have the right to cancel/withdraw his allotment in the Project as provided in the Act: Provided that where the Allottee(s) proposes to cancel/withdraw from Joyville Phase 1Bthe Project without any fault of the Promoter, interest with applicable taxes as specified in the RulePromoter herein is entitled to forfeit the booking amount paid for the allotment or 10% of the Total Consideration amount whichever may be higher. The balance amount of money paid, on all the amounts paid if any, by the Allottee, for every month of delay, till handing over of Allottee(s) shall be returned by the possession. The Allottee agrees to pay Promoter to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms Allottee(s) within forty-five days of this Agreement from the date the said amount is payable by the Allottee to the Promoter till the payment is madesuch cancellation.
Appears in 1 contract
Samples: 202.61.117.163
POSSESSION OF THE APARTMENT. 7.1. Schedule for possession of the said Apartment - Apartment- The Promoter agrees and understands that timely delivery of possession of the Apartment to the allottee and the common areas to the association of allottees and/or Federation or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Apartment by 31.01.2026 along with ready and complete common areas with all specifications, amenities and facilities of the project in place on 31St Dec 2019, unless there is delay or failure due to any restriction imposed by the Government or any Department or its authorities or war, flood, drought, fire, cyclone, earthquake or any other event or calamity caused by nature affecting the regular development of the real estate project ("“Force Majeure"”), if. 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 ApartmentApartmentprovided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The 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 within 45 days the entire amount received by the Promoter from the allotment, subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to the Promoterallotment 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 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. Procedure for taking possession - The Allottee shallPromoter, after Possession is made over to him, use and enjoy upon obtaining the said Apartment/Residential occupancy/ completion certificate* from the competent authority shall offer in writing the possession of the Apartment in a manner not inconsistent with the rights hereunder and without committing any breach, default or creating any hindrance to the rights of the other occupiers/Allottees of the Joyville Project. If the Promoter fails to abide by the time schedule for completing Joyville Phase 1B and handing over the Apartment(s) to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified Allottee in the Rule, on all the amounts paid by the Allottee, for every month of delay, till handing over of the possession. The Allottee agrees to pay to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement to be taken within two months from the date of issue of occupancy certificate. The Promoter agrees and undertakes to indemnify the said amount is payable Allottee in case of failure of fulfilment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee, after taking possession, agree(s) to pay the maintenance charges as determined by the Allottee Promoter/association of allottees, as the case may be after the issuance of the occupancy/completion certificate for the project. The promoter shall hand over the copy of the occupancy/completion certificate of the Apartment, as the case may be, to the Promoter till allottee at the payment is madetime of conveyance of the same.
Appears in 1 contract
Samples: Agreement for Sale
POSSESSION OF THE APARTMENT. 7.1. Schedule for possession of the said Apartment - – The Promoter Developer/Xxxxxxxx agrees and understands that timely delivery of possession of the Apartment to allottee the Allottee and the common areas to the association Association of allottees and/or Federation or the competent authority, as the case may be, Allottee(s) is the essence of the Agreement. The Developer/Promoter assures to hand over handover possession of the Apartment by 31.01.2026 along with alongwith ready and complete common areas with all specifications, amenities and facilities of the project projects, in place on within 24 (twenty four) months with a grace period of 6 (six) months, unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other event or calamity caused by nature affecting the regular development of the real estate project ("“Force Majeure"”), if, . If however, the completion of the Project project is delayed due to the Force Majeure conditions then the Allottee agrees that the Developer/Promoter shall be entitled to the extension of time for delivery of possession of the Apartment. The Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the project due to provided that such Force Majeure conditions, conditions then this allotment shall stand terminated and the Developer/Promoter shall refund to the Allottee within 45 days the entire amount received by the Developer/Promoter from the allotment, subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to the Promoterallotment within 90 (ninety) days from that date. The promoter Developer/Promoter shall intimate the allottee Allottee (s) about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee agrees that he/ he/she shall not have any rights, claims etc. against the Developer/Promoter and that the Developer/Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee shall(s) agrees and confirms that, after Possession is made over in the event it becomes impossible for the Developer/Promoter to him, use implement the project due to Force Majeure conditions then this allotment shall stand terminated and enjoy the said ApartmentDeveloper/Residential Apartment in a manner not inconsistent with the rights hereunder and without committing any breach, default or creating any hindrance Promoter shall refund to the rights Allottee (s) the entire amount received by the Developer from the allotment within 90 (ninety) days from the date. The Developer/Promoter shall intimate the Allottee (s) about such termination at least thirty days prior to such termination. After refund of the other occupiers/Allottees of the Joyville Project. If the Promoter fails to abide by the time schedule for completing Joyville Phase 1B and handing over the Apartment(s) to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified in the Rule, on all the amounts money paid by the AllotteeAllottee (s), for every month of delay, till handing over of the possession. The Allottee agrees to pay to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to (s) agrees that he/she shall not have any rights, claims etc. against the Developer/Promoter and that the Developer/Promoter shall be released and discharged from all its obligations and liabilities under the terms of this Agreement from the date the said amount is payable by the Allottee to the Promoter till the payment is madeAgreement.
Appears in 1 contract
Samples: Agreement for Sale
POSSESSION OF THE APARTMENT. 7.1. Schedule for possession of the said Apartment - The Promoter agrees and understands that timely delivery of possession of the Apartment to the allottee and the common areas to the association of allottees and/or Federation or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Apartment by 31.01.2026 along with ready and complete common areas with all specifications, amenities and facilities of the project in place on ……………, unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other event or calamity caused by nature affecting the regular development of the real estate project ("“Force Majeure"”), if. 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, provided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The 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 within 45 days the entire amount received by the Promoter from the allotment, subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to the Promoterallotment 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 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. Procedure for taking possession - The Allottee shallPromoter, after Possession is made over to himupon obtaining the occupancy certificate* from the competent authority shall offer in writing the possession of the Apartment, use and enjoy the said Apartment/Residential Apartment in a manner not inconsistent with the rights hereunder and without committing any breach, default or creating any hindrance to the rights of the other occupiers/Allottees of the Joyville Project. If the Promoter fails to abide by the time schedule for completing Joyville Phase 1B and handing over the Apartment(s) to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified Allottee in the Rule, on all the amounts paid by the Allottee, for every month of delay, till handing over of the possession. The Allottee agrees to pay to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement to be taken within two months from the date of issue of Completion certificate. [Provided that, in the said amount is payable absence of local law, the conveyance deed in favour of the allottee shall be carried out by the promoter within 3 months from the date of issue of Completion certificate]. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfilment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee, 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 the completion certificate for the project. The promoter shall hand over the occupancy certificate of the apartment/plot, as the case may be, to the Promoter till allottee at the payment is madetime of conveyance of the same.
Appears in 1 contract
Samples: Agreement for Sale
POSSESSION OF THE APARTMENT. 7.1. Schedule for the possession of the said Apartment - Apartment-The Promoter agrees and understands that timely delivery of possession of the Apartment to the allottee and the common areas to the association of allottees and/or Federation or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Apartment by 31.01.2026 along with ready and complete common areas with all specifications, amenities and facilities of the project in place on within September 2023 unless there is delay or failure due to war, flood, short supply of materials, drought, fire, cyclone, earthquake or any other event or calamity caused by nature affecting the regular development of the real estate project ("Force Majeure"), if. 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 ApartmentApartment Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The 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 within 45 days the entire amount received by the Promoter from the allotment, subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to the Promoterallotment 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 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. Procedure for taking possession - The Allottee shallPromoter, after Possession is made over to himupon obtaining the occupancy certificate from the competent authority shall offer in writing the possession of the Apartment, use and enjoy the said Apartment/Residential Apartment in a manner not inconsistent with the rights hereunder and without committing any breach, default or creating any hindrance to the rights of the other occupiers/Allottees of the Joyville Project. If the Promoter fails to abide by the time schedule for completing Joyville Phase 1B and handing over the Apartment(s) to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified Allottee in the Rule, on all the amounts paid by the Allottee, for every month of delay, till handing over of the possession. The Allottee agrees to pay to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement to be taken within 3 months from the date of issue of date of issue of such notice and the said amount is payable Promoter shall give possession of the [Apartment/Plot] to the Allottee. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee agree(s) to pay the maintenance charges as determined by the Allottee Promoter/association of allottees, as the case may be. The Promoter on its behalf shall offer the possession to the Promoter till Allottee in writing within days of receiving the payment is madeoccupancy certificate of the Project.
Appears in 1 contract
Samples: Agreement
POSSESSION OF THE APARTMENT. 7.1. Schedule for possession of the said Apartment - Apartment. The Promoter agrees and understands that timely delivery of possession of the Apartment to the allottee and the common areas to the association of allottees and/or Federation or the competent authority, as the case may be, is the essence of the this Agreement. The Promoter assures to hand over possession of the Apartment by 31.01.2026 along with ready and complete common areas with all specifications, amenities and facilities of the project in place on 31st day of March, 2021, subject to a grace period of additional 6 (six) months therefrom unless there is delay or failure due to war, floodfood, drought, fire, cyclone, earthquake or any other event or calamity caused by nature affecting the regular development of the real estate project ("”Force Majeure"”), if. 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. Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The 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 within 45 days the entire amount received by the Promoter from the allotment, subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to allotment within 45 days from the Promoterdate. The promoter 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 agrees that he/ he/she shall not have any rights, claims etc. against the Promoter and that andthat the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. Procedure for taking possession – The Allottee shallPromoter, after Possession is made over to himupon obtaining the occupancy/completion certificate from the competent authority shall offer in writing the possession of the Apartment, use and enjoy the said Apartment/Residential Apartment in a manner not inconsistent with the rights hereunder and without committing any breach, default or creating any hindrance to the rights of the other occupiers/Allottees of the Joyville Project. If the Promoter fails to abide by the time schedule for completing Joyville Phase 1B and handing over the Apartment(s) to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified Allottee in the Rule, on all the amounts paid by the Allottee, for every month of delay, till handing over of the possession. The Allottee agrees to pay to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement to be taken within two months from the date of issue of occupancy/completion certificate. [Provided that, in the said amount is payable absence of local law, the conveyance deed in favour of the allottee shall be carried out by the Promoter within 3 months from the date of issue of occupancy/completion certificate]. The Promoter agrees andundertakes toindemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee, after taking possession, agree(s) to pay the maintenance charges as determined by the Promoter/ associationof allottees, as thecase maybe aftertheissuance of the completion certificate for theproject. The Promoter shall hand over theoccupancy/completion certificate of the Apartment, asthe case may be, to the allottee at the time of conveyance of the same. Announcement of completion of the proposed building/s by the promoter, after obtaining CC, the maintenance expenses would start up and will be binding upon the Allottee/s. Failure of Allottee to take Possession of Apartment. Upon receiving a written intimation from the Promoter as per para 7.2, the Allottee shall take possession of the Apartment from the Promoter by executing necessary indemnities, undertaking and such other documentation as prescribed in this Agreement and the Promoter shall give possession of the Apartmenttothe allottee. In case the Allotteefails totake possession within the timeprovided in para 7.2 such Allottee shall continue to be liable to pay maintenance charges asspecified in para 7.2. Possession by the Allottee – After obtaining the occupancy/completion certificate* and handing over physical possession of the Apartment to the Allottees, it shall be the responsibility of the Promoter till to hand over the payment necessary documents and plans, 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/ completion certificate]. Cancellation by allottee – The Allottee shall have the right to cancel/ withdraw his allotment in the Project as provided in the Act. Provided that where the allottee proposes to cancel/withdraw from the project withoutanyfault of the Promoter, the Promoterherein is madeentitled to forfeit the booking amount paid for the allotment. The balance amount of money paid by the allottee shall be returned by the Promoter to the allottee within 45 days of such cancellation, deducting therefrom 10% of the agreed consideration alongwith applicable levies/taxes.
Appears in 1 contract
Samples: Agreement for Sale
POSSESSION OF THE APARTMENT. 7.1. Schedule 7.1Schedule for possession of the said Apartment - Apartment: The Promoter Owner/Vendor agrees and understands that timely delivery of possession of the Apartment to allottee the Allottee and the common areas Common Areas to the association Association of allottees and/or Federation or the competent authority, as the case may be, Allottees,is the essence of the Agreement. Provided that the Owner/Vendor shall be entitled to reasonable extension of time as agreed by and between the Allottee and the Owner/Vendor for giving possession of the Apartment on the date mentioned herein and the same shall be in addition to the period of extension given by the Authority for registration. The Promoter Owner/Vendor, assures to hand over possession of the Apartment by 31.01.2026 along ………… with ready and complete common areas with all specificationsa grace period of 12 months (Completion date), amenities and facilities of the project in place on unless there is a delay or failure due to failure,war, flood, drought, fire, cyclone, earthquake or any other event calamity or calamity affecting order, rule, notification of the regular Governmentand/or other publicor competentauthority/court and/or caused bynature affectingtheregular development of the real estate project or any other reason ("“Force Majeure"”), if. If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee agrees that the Promoter theOwner/Vendor shall be entitled to the extension of time for delivery of possession of the Apartment, provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee Xxxxxxxx agrees and confirms that, in the event it becomes impossible for the Promoter Owner/Vendor to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter Owner/Vendor shall be under an obligation to refund to the Allottee within 45 days the entire amount received by the Promoter Owner/Vendor from the allotment, subject to adjustment allotment within 45 days from that date and recovery of any agreed liquidated damages or any other amount which may be payable to the Promoter. The promoter shall intimate the allottee about such termination. After refund of the money paid by the Allottee, the Allottee agrees that he/ she shall not have any rights, claims etc. against the Promoter Owner/Vendor and that the Promoter Owner/Vendor shall be released and discharged from all its obligations and liabilities under this Agreement, except to refund the amount as aforesaid. The Allottee shallIt is clarified that all amounts collected as taxes, after Possession is made over to himcharges, use levies, cess, assessments and enjoy the said Apartment/Residential Apartment in a manner not inconsistent impositions and deposited with the rights hereunder appropriate authorities concerned shall not be returned by the Owner/Vendor and without committing any breachthe Allottee shall be free to approach the authorities concerned for refund of such taxes, default or creating any hindrance charges, levies, cess, assessments and impositions. It is further clarified that the right of the Allottee shall remain restricted to the rights respective Apartment and the properties appurtenant thereto and the Allottee shall have no right, title or interest nor shall claim any right, title or interest of any kind whatsoever over and in respect of any other Apartment or space and/or any other portions of the other occupiers/Allottees of the Joyville Project. If the Promoter fails to abide by the time schedule for completing Joyville Phase 1B and handing over the Apartment(s) to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified in the Rule, on all the amounts paid by the Allottee, for every month of delay, till handing over of the possession. The Allottee agrees to pay to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement from the date the said amount is payable by the Allottee to the Promoter till the payment is made.
Appears in 1 contract
Samples: Agreement for Sale
POSSESSION OF THE APARTMENT. 7.1. Schedule for possession of the said Apartment - Apartment:- The Promoter agrees and understands that timely delivery of possession of the Apartment to allottee the Allottee and the common areas to the association Association of allottees and/or Federation Allottees or the competent authorityCompetent Authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Apartment by 31.01.2026 along with ready and complete common areas with all specifications, amenities and facilities of the project in place on within 15.10.2025 unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other event or calamity caused by nature affecting the regular development of the real estate project ("“Force Majeure"”), if. 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. Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The 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 within 45 days the entire amount received by the Promoter from the allotment, subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to the Promoterallotment within 45 days from that date. The 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 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. Procedure for taking possession – The Allottee shallPromoter, after Possession is made over to himupon obtaining the occupancy certificate from the competent authority shall offer in writing the possession of the Apartment, use and enjoy the said Apartment/Residential Apartment in a manner not inconsistent with the rights hereunder and without committing any breach, default or creating any hindrance to the rights of the other occupiers/Allottees of the Joyville Project. If the Promoter fails to abide by the time schedule for completing Joyville Phase 1B and handing over the Apartment(s) to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified Allottee in the Rule, on all the amounts paid by the Allottee, for every month of delay, till handing over of the possession. The Allottee agrees to pay to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement to be taken within two months from the date of issue of occupancy certificate. [Provided that, in the said amount is payable absence of local law, the conveyance deed in favour of the Allottee shall be carried out by the Promoter within 3 months from the date of issue of Occupancy Certificate]. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee 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 the Completion Certificate for the project. The Promoter shall hand over the occupancy certificate of the Apartment, as the case may be, to the Promoter till Allottee at the payment is madetime of conveyance of the same. In case, the Allottee express his /her/their view to take physical possession of the under constructed apartment and gives a written application for handover of physical possession in such case the completion certificate shall be handed over only after obtaining the same from the competent authority.
Appears in 1 contract
Samples: Agreement for Sale
POSSESSION OF THE APARTMENT. 7.1. Schedule for possession of the said Apartment - – The Promoter agrees and understands that timely delivery of possession of the Apartment to allottee the Allottee(s) and the common areas Common Areas and Facilities on the Project Land to the association Association of allottees and/or Federation or the competent authority, as the case may be, Allottees is the essence of the Agreement. The Similarly, the Allottee(s) agrees that if the Allottee(s) defaults in paying any demand as per the payment plan along with all the other taxes, duties and charges, he shall not be entitled to enforce the timeline of Project completion and shall not be entitled for interest and compensation for delay in completion of the Project. Therefore, subject to the timely receipt of Total Price and the other amounts from the Allottee(s) as per this Agreement ,the Promoter assures to hand over handover possession of the Apartment by 31.01.2026 along with ready and complete common areas Common Areas and Facilities on Project Land with all specifications, amenities and facilities of the project Project in place on or before , (scheduled completion date) unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature or any other reasons/event or calamity affecting which is beyond the control of Promoter, effecting the regular development of the real estate project ("Force project(“Force Majeure"”), if. If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee Allottee(s) agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Apartment, provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented in such an event the promoter shall not be liable to pay any penalty/interest/compensation to the allottee due to such force majeure. If project is delayed due to any reasonable circumstances, allottee agrees that promoter shall be entitled to obtain the extension for completion of the project as may be granted by the Authority and no penalty/interest/compensation for such delayed/extended period shall be paid by the promoter. The Allottee Allottee(s) 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 within 45 days Allottee(s) the entire amount received by the Promoter with interest within forty- five days from the allotmentdate on which termination became effective. However, subject the Promoter shall not be liable to adjustment refund taxes which are collected from Allottee(s) and recovery deposited with concerned department and the Allottee(s) shall be free to file necessary application before the concerned department for refund of any agreed liquidated damages or any other amount which may such taxes. The event of termination shall be payable to decided by the Promoter. The promoter Promoter shall intimate the allottee Allottee(s) about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee 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. The Allottee shall, after Possession is made over to him, use and enjoy the said Apartment/Residential Apartment in a manner not inconsistent with the rights hereunder and without committing any breach, default or creating any hindrance to the rights of the other occupiers/Allottees of the Joyville Project. If the Promoter fails to abide by the time schedule for completing Joyville Phase 1B and handing over the Apartment(s) to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified in the Rule, on all the amounts paid by the Allottee, for every month of delay, till handing over of the possession. The Allottee agrees to pay to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement from the date the said amount is payable by the Allottee to the Promoter till the payment is made.
Appears in 1 contract
Samples: Agreement for Sale
POSSESSION OF THE APARTMENT. 7.1. Schedule for possession of the said Said Apartment - The Promoter Vendor agrees and understands that timely delivery of possession of the Said Apartment to allottee the Purchaser/Allottee and the common areas Common Areas of the Project to the association of allottees and/or Federation or the competent authority, as the case may be, Purchaser/Allottees (upon its formation and registration) is the essence of the Agreement. The Promoter Vendor assures to hand over possession of the Apartment by 31.01.2026 Said Apartment, described in the Third Schedule below along with ready and complete common areas with all specifications, amenities and facilities Common Areas of the project Project as specified in the Fourth Schedule below withall specifications (as provided in Seventh Schedule below) in place on or before October, 2023 for Block ‘D’ of the complex unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other event or calamity caused by nature affecting the regular development of the real estate project Project ("Force Majeure"), if. If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee Purchaser/Xxxxxxxx agrees that the Promoter Vendor shall be entitled to the extension of time for delivery of possession of the ApartmentApartment Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee Purchaser/Xxxxxxxx agrees and confirms that, in the event it becomes impossible for the Promoter Vendor to implement the project Project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter Vendor shall refund to the Purchaser/Allottee within 45 days the entire amount received by the Promoter Vendor from the allotment, subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to the Promoterallotment within 45 days from that date. The promoter Vendor shall intimate the allottee Purchaser/Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Purchaser/Allottee, the Allottee Purchaser/Xxxxxxxx agrees that he/ she shall not have any rights, claims etc. against the Promoter Vendor and that the Promoter Vendor shall be released and discharged from all its obligations and liabilities under this Agreement. The Allottee shallPossession Date has been accepted by the Purchaser/Allottee. However, after Possession if the Said Apartment is made over to him, use and enjoy the said Apartment/Residential Apartment in a manner not inconsistent with the rights hereunder and without committing any breach, default or creating any hindrance ready prior to the rights Completion Date, the Purchaser/Allottee undertakes(s) and covenant (s) not to make or raise any objection to the consequent pre-ponement of his/her /their/its payment obligations, having clearly agreed and understood that the payment obligations of the other occupiersPurchaser/Allottees of the Joyville Project. If the Promoter fails to abide by the time schedule for completing Joyville Phase 1B and handing over the Apartment(s) Allottee are linked inter alia to the Allotteeprogress of construction, and the Promoter agrees to pay to the Allottee, who does same is not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified in the Rule, on all the amounts paid by the Allottee, for every month of delay, till handing over of the possession. The Allottee agrees to pay to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement from the date the said amount is payable by the Allottee to the Promoter till the payment is madea time linked plan.
Appears in 1 contract
Samples: Agreement for Sale
POSSESSION OF THE APARTMENT. 7.1. Schedule for possession of the said Apartment - The Promoter agrees and understands that timely delivery of possession of the Apartment to allottee the Allottee and the common areas to the association Association of allottees and/or Federation or the competent authority, as the case may be, Allottees is the essence of the Agreement. The Promoter assures to hand over possession of the Apartment by 31.01.2026 along with ready and complete common areas with all specifications, amenities and facilities of the project Residential Complex in place on (save and except certain facilities / amenities which will only be available upon completion of Phase II of Merlin Gangotri) sometime in the month of December 2021, unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other event or calamity caused by nature affecting the regular development of the real estate project Residential Complex - Phase I ("Force Majeure"), if. If, however, the completion of the Project Residential Complex - Phase I 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, Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The 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 within 45 days the entire amount received by the Promoter from for the allotment, subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to the Promoterwithin 45 days from that date. The promoter 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 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. The Allottee shall, after Possession is made over to him, use and enjoy the said Apartment/Residential Apartment in a manner not inconsistent with the rights hereunder and without committing any breach, default or creating any hindrance to the rights of the other occupiers/Allottees of the Joyville Project. If the Promoter fails to abide by the time schedule for completing Joyville Phase 1B and handing over the Apartment(s) to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified in the Rule, on all the amounts paid by the Allottee, for every month of delay, till handing over of the possession. The Allottee agrees to pay to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement from the date the said amount is payable by the Allottee to the Promoter till the payment is made.
Appears in 1 contract
Samples: Agreement for Sale
POSSESSION OF THE APARTMENT. 7.1. Schedule for possession of the said Said Apartment - The Promoter agrees and understands that timely delivery of possession of the Said Apartment to allottee the Allottee and the common areas Common Areas of the Real Estate Project to the association of allottees and/or Federation or the competent authority, as the case may be, (upon its formation and registration) is the essence of the Agreement. The Promoter assures to hand over possession of the Said Apartment by 31.01.2026 along with ready and complete common areas Common Areas of the Real Estate Project (as specified in Schedule E below) with all specifications, amenities and facilities of the project specifications (as provided in Schedule D below) in place on 31st May, 2025 (“Completion Date”), unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other event or calamity caused by nature affecting the regular development of the real estate project Real Estate Project or any further delay(s) beyond the control of the Promoter due to epidemic, pandemic, quarantine restriction, state or nationwide lockdown, including any future disruptions due to the coronavirus disease or other circumstances deemed by the Authority to be force majeure events ("Force Majeure"), if. If, however, the completion of the Real Estate 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. Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The 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 within 45 days the entire amount received by the Promoter from the allotment, subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to the Promoterallotment within 45 days from that date. The promoter 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 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. The Allottee shall, after Possession is made over to him, use and enjoy the said Apartment/Residential Apartment in a manner not inconsistent with the rights hereunder and without committing any breach, default or creating any hindrance to the rights of the other occupiers/Allottees of the Joyville Project. If the Promoter fails to abide by the time schedule for completing Joyville Phase 1B and handing over the Apartment(s) to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified in the Rule, on all the amounts paid Date has been accepted by the Allottee. However, for every month if the Said Apartment is made ready prior to the Completion Date, the Allottee undertakes and covenants not to make or raise any objection to the consequent pre-ponement of delayhis/her /their/its payment obligations, till handing over having clearly agreed and understood that the payment obligations of the possession. The Allottee agrees to pay is linked inter alia to the Promoter interest with applicable taxes as prescribed progress of construction, and the same is not a time linked plan. Notwithstanding anything elsewhere to the contrary herein contained, it is expressly agreed understood and clarified that if at any time, under the Rule framed under WBRERAprovisions of the applicable laws, on the Common Areas and/or the land comprised in the Project Property and/or Larger Property or any part thereof are required and to be transferred to the association of allottees, then the Promoter and/or the Owners, as per their respective entitlements, shall be entitled to do so and the Allottee shall do all acts, deeds and things and sign, execute and deliver all papers documents etc., as be required therefor and if any stamp duty, registration fee, legal fees, other expenses, etc., is payable therefor, then the delayed payment which become due same shall be borne paid and payable discharged by the allottees of the Project (including the Allottee to herein) proportionately and the Promoter under and/or the terms of this Agreement from the date the said amount is payable by Owners shall not be liable therefor in any manner whatsoever and the Allottee to and the other allottees shall keep the Promoter till and the payment is madeOwners fully indemnified with regard thereto.
Appears in 1 contract
Samples: Agreement for Sale
POSSESSION OF THE APARTMENT. 7.1. Schedule for possession of the said Apartment - The Promoter agrees and understands that timely delivery of possession of the Apartment to allottee and the common areas to the association of allottees and/or Federation or the competent authority, as the case may beAllottee, is the essence of the Agreement. The Promoter assures to hand over possession Possession of the Apartment by 31.01.2026 along with ready and complete common areas with all specifications, amenities and facilities of the project in place on within December 2026 unless there is delay or failure due to war, flood, epidemic, drought, fire, cyclone, earthquake or any other event or calamity caused by nature affecting the regular development of the real estate project ("“Force Majeure"”), if, . If however, the completion of the said 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, provided that such Force Majeure conditions are of a nature which make it impossible for the contract to be implemented. The Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the project said Project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee within 45 days the entire amount received by the Promoter from the allotment, subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to the Promoter. The promoter shall intimate the allottee about such terminationAllotment within 45 (forty five) days from that date. After refund of the money paid by the Allottee, the Allottee Xxxxxxxx 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. Agreement Procedure for taking possession – The Allottee shallPromoter, after Possession is made over to himupon obtaining the occupancy certificate from the competent authority shall offer in writing the possession of the Apartment, use and enjoy the said Apartment/Residential Apartment in a manner not inconsistent with the rights hereunder and without committing any breach, default or creating any hindrance to the rights of the other occupiers/Allottees of the Joyville Project. If the Promoter fails to abide by the time schedule for completing Joyville Phase 1B and handing over the Apartment(s) to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified Allottee in the Rule, on all the amounts paid by the Allottee, for every month of delay, till handing over of the possession. The Allottee agrees to pay to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement to be taken within 3 (three months from the date of issue of such notice and the said amount is payable Promoter shall give possession of the Apartment to the Allottee. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee agree(s) to pay the maintenance charges as determined by the Promoter/association of allottees, as the case may be. The Promoter on its behalf shall offer the possession to the Allottee in writing within 45 days of receiving the occupancy certificate of the Project.(The “POSSESSION DATE”). Failure of Allottee to take possession of Apartment – Upon receiving a written intimation from the Promoter as per para 7.2, the Allottee shall take possession of the Apartment 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 to the Allottee. In case the Allottee fails to take possession within the time provided in para 7.2 in the Possession Notice such Allottee shall continue to be liable to pay maintenance charges as specified in para 7.2 from such date as notified in the Possession Notice. Possession by the Allottee – After obtaining the occupancy certificate or such other certificate by whatever name called issued by the competent authority, and handing over physical possession of the Apartment to the allottee, it shall be the responsibility of the Promoter till to hand over the payment is madenecessary documents and plans, including common areas, to the association of allottee or the competent authority, as the case may be, as per the local laws.
Appears in 1 contract
Samples: Agreement for Sale
POSSESSION OF THE APARTMENT. 7.1. Schedule for possession of the said Said Apartment - The Promoter agrees and understands that timely delivery of possession of the Said Apartment to allottee the Allottees and the common areas Common Areas of the Real Estate Project to the association of allottees and/or Federation or the competent authority, as the case may be, (upon its formation and registration) is the essence of the Agreement. The Promoter assures to hand over possession of the Said Apartment by 31.01.2026 along with ready and complete common areas Common Areas of the Real Estate Project (as specified in Schedule E below) with all specifications, amenities and facilities of the project specifications (as provided in Schedule D below) in place on December, 2020, if the Said Apartment is comprised in Building Nos. 1, 2 or 3 in Block A and December, 2022, if the Said Apartment is comprised in Building No.4 in Block D (“Completion Date”), unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other event or calamity caused by nature affecting the regular development of the real estate project Real Estate Project ("Force Majeure"), if. If, however, the completion of the Real Estate Project is delayed due to the Force Majeure conditions then the Allottee agrees Allottees agree that the Promoter shall be entitled to the extension of time for delivery of possession of the ApartmentApartment Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee agrees Allottees agree and confirms confirm 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 within 45 days Allottees the entire amount received by the Promoter from the allotment, subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to the Promoterallotment within 45 days from that date. The promoter Promoter shall intimate the allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the AllotteeAllottees, the Allottee agrees Allottees agree 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. The Allottee shallPossession Date has been accepted by the Allottees. However, after Possession if the Said Apartment is made over to him, use and enjoy the said Apartment/Residential Apartment in a manner not inconsistent with the rights hereunder and without committing any breach, default or creating any hindrance ready prior to the rights Completion Date, the Allottees undertakes(s) and covenant (s) not to make or raise any objection to the consequent pre-ponement of his/her /their/its payment obligations, having clearly agreed and understood that the payment obligations of the other occupiers/Allottees are linked inter alia to the progress of construction, and the same is not a time linked plan. Notwithstanding anything elsewhere to the contrary herein contained, it is expressly agreed understood and clarified that if at any time, under the provisions of the Joyville Project. If applicable laws, the Common Areas and/or the land comprised in the Project Property and/or Larger Property or any part thereof are required and to be transferred to the association of allottees, then the Promoter fails and/or the Owners, as per their respective entitlements, shall be entitled to abide do so and the Allottees shall do all acts, deeds and things and sign, execute and deliver all papers documents etc., as be required therefor and if any stamp duty, registration fee, legal fees, other expenses, etc., is payable therefor, then the same shall be borne paid and discharged by the time schedule allottees of the Project (including the Allottees herein) proportionately and the Promoter and/or the Owners shall not be liable therefor in any manner whatsoever and the Allottees and the other allottees shall keep the Promoter and the Owners fully indemnified with regard thereto. Procedure for completing Joyville Phase 1B and handing over taking possession - The Promoter, upon obtaining the Apartment(s) completion certificate from the competent authority shall offer in writing the possession of the Said Apartment, to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified Allottees in the Rule, on all the amounts paid by the Allottee, for every month of delay, till handing over of the possession. The Allottee agrees to pay to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement to be taken within two months from the date of issue of completion certificate subject to payment of all amount due and payable under this Agreement and Registration of the said amount is payable Deed of Conveyance. The Promoter agrees and undertakes to indemnify the Allottees in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottees, after taking possession, agree(s) to pay the maintenance charges (as provided on Schedule H below) as determined by the Allottee Promoter/association of allottees, as the case may be from the date of the issuance of the completion certificate for the Project. The promoter shall hand over the photocopy of completion certificate of the Project to the Promoter till allottee at the payment is madetime of conveyance of the same.
Appears in 1 contract
Samples: Agreement for Sale
POSSESSION OF THE APARTMENT. 7.1. 8.1 Schedule for possession of the said Apartment - Apartment: The Promoter agrees and understands that timely delivery of possession of the Apartment to allottee the Allottee and the common areas Common Areas to the association Association of allottees and/or Federation or the competent authority, as the case may beAllottees , is the essence of the Agreement. Provided that the Promoter shall be entitled to reasonable extension of time as agreed by and between the Allottee and the Promoter for giving possession of the Apartment on the date mentioned herein and the same shall not include the period of extension given by the Authority for registration. The Promoter Promoter, based on the approved plans and specifications, assures to hand over possession of the Apartment by 31.01.2026 along with ready and complete common areas with all specificationson , amenities and facilities of the project in place on unless there is a delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other event calamity or calamity , order, rule, notification of the Government and/or other public or competent authority/court and/or caused by nature affecting the regular development of the real estate project ("“Force Majeure"”), if. 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, provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. Promoter will be entitled to give block-wise and phase-wise possession upon obtaining the Completion Certificate/Partial Certificate of a building block or a particular phase as the case may be irrespective of the fact that construction of other Blocks and/or other phases and/or provision of facilities may be incomplete. The 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 within 45 days the entire amount received by the Promoter from the allotment, subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to the Promoter. The promoter shall intimate the allottee about such termination. allotment within 45 days from that date.After refund of the money paid by the Allottee, the Allottee 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. The Allottee shall, after Possession is made over to him, use and enjoy the said Apartment/Residential Apartment in a manner not inconsistent with the rights hereunder and without committing any breach, default or creating any hindrance to the rights of the other occupiers/Allottees of the Joyville Project. If the Promoter fails to abide by the time schedule for completing Joyville Phase 1B and handing over the Apartment(s) to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified in the Rule, on all the amounts paid by the Allottee, for every month of delay, till handing over of the possession. The Allottee agrees to pay to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement from the date the said amount is payable by the Allottee to the Promoter till the payment is made.
Appears in 1 contract
Samples: Eternis
POSSESSION OF THE APARTMENT. 7.1. Schedule for possession of the said Apartment - Apartment: The Promoter agrees and understands that timely delivery of possession of the Said Apartment to allottee and the common areas to the association of allottees and/or Federation or the competent authority, as the case may be, is the essence of the Agreement. The Promoter Promoter, based on the approved plans and specifications, assures to hand over possession of the Said Apartment by 31.01.2026 along with ready and complete common areas with all specifications, amenities and facilities of the project in place on 31st December 2030 unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other event or calamity caused by nature affecting the regular development of the real estate project or any further delay(s) beyond the control of the Promoter due to epidemic, pandemic, quarantine restriction, state or nationwide lockdown, including any future disruptions due to the coronavirus disease or other circumstances deemed by the Authority to be force majeure events ("Force Majeure"), if. 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, provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The 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 standterminated and the Promoter shall refund to the Allottee within 45 days the entire amount received by the Promoter from the allotment, subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to the Promoter. The promoter shall intimate the allottee about such terminationallotment within 45 days from that date. After refund of the money paid by the Allottee, the Allottee Xxxxxxxx agrees that he/ she shall not have any rights, claims etc. against the againstthe Promoter and that the Promoter shall be released and discharged from all formall its obligations and liabilities under this Agreement. The Allottee shallPossession Date has been accepted by the Allottees. However, after Possession if the Said Apartment is made ready prior to the Completion Date, the Allottees undertake and covenant not to make or raise any objection to the consequent pre-ponement of his/her/their/its payment obligations, having clearly agreed and understood that the payment obligations of the Allottees are linked inter alia to the progress of construction, and the same is not a time linked plan. Notwithstanding anything elsewhere to the contrary herein contained, it is expressly agreed understood and clarified that if at any time, the customer is required to pay any stamp duty, registration fee, legal fees, other expenses, etc., (over and above the one to him, use and enjoy be paid by the Allottes for registration of the said Apartment/Residential Apartment in a manner not inconsistent with ) which becomes payable therefor, then the rights hereunder same shall be borne paid and without committing any breach, default or creating any hindrance to discharged by the rights allottees of the other occupiers/Project (including the Allottees of the Joyville Project. If herein) proportionately and the Promoter fails to abide by and/or the time schedule for completing Joyville Phase 1B Owners shall not be liable therefor in any manner whatsoever and handing over the Apartment(s) to Allottees and the Allottee, other allottees shall keep the Promoter agrees to pay to and the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest Owners fully indemnified with applicable taxes as specified in the Rule, on all the amounts paid by the Allottee, for every month of delay, till handing over of the possession. The Allottee agrees to pay to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement from the date the said amount is payable by the Allottee to the Promoter till the payment is maderegard thereto.
Appears in 1 contract
Samples: Seerule9] Agreement
POSSESSION OF THE APARTMENT. 7.1. Schedule for possession of the said Apartment - – The Promoter Developer agrees and understands that timely delivery of possession of the Apartment to allottee the Purchaser and the common areas Common Areas to the association Association of allottees and/or Federation the Purchaser or the competent authority, as the case may be, is the essence of the Agreement. The Promoter Developer assures to hand over possession of the Apartment by 31.01.2026 along with ready and complete common areas Common Areas with all specifications, amenities amenities, and facilities of the project Project in place on within July’2026 (POSSESSION DATE) with a 6 (six) 6-month grace period to obtain statutory compliance including Completion Certificate unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other event or calamity caused by nature affecting the regular development of the real estate project ("Force Majeure"), if, . 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. Procedure for taking possession – The Developer, upon obtaining the occupancy certificate (or such other certificate by whatever name called issued by the competent authority) from the competent authority shall offer in writing the possession of the Apartment, to the Purchaser in terms of this Agreement by sending the notice of such offer by speed post/e-mail calling upon the Allottee to take possession of the Apartment within 1 (one) month from the date of issue of the said Notice Of Possession(POSSESSION NOTICE). Provided that the conveyance deed of the Apartment in favour of the Purchaser shall be executed and registered by the Developer (subject, however, to the Purchaser making all payments as mentioned in the 3rd Schedule hereto and taking possession of the Apartment in terms of the Notice Of Possession and making payment of the stamp duty, registration charges, and legal charges & misc. expenses to the Developer as per requisition of the Promoter) within three months from the date of issue of the occupancy certificate (or such other certificate by whatever name is issued by the competent authority) as provided by the relevant laws in West Bengal. The Developer agrees and confirms thatundertakes to indemnify the Purchaser in case of failure to fulfill any of the provisions, in formalities, or documentation on the event it becomes impossible part of the Promoter. The Purchaser, after taking possession, agrees (s) to pay the maintenance charges as determined by the Developer/association of Purchaser, as the case may be after the issuance of the completion certificate for the Project. The Developer shall hand over a copy of the occupancy certificate (or such other certificate by whatever name is issued by the competent authority) of the Project, as the case may be, to the Purchaser at the time of conveyance of the Apartment in favour of the Purchaser. Failure of Purchaser to take possession of Apartment – Upon receiving a written intimation from the Promoter to implement as per para 7.2, the project due to Force Majeure conditionsAllottee shall take possession of the Apartment from the Promoter by executing necessary indemnities, then undertakings and such other documentation as prescribed in this allotment shall stand terminated Agreement and the Promoter shall refund give possession of the Apartment to the Allottee. In case the Allottee fails to take possession within 45 days the amount received time provided in para 7.2 in the Possession Notice such Allottee shall be liable to pay maintenance charges as specified in para 7.2 from such date as notified in the Possession Notice (Deemed Possession). Possession by the Purchaser – After obtaining the occupancy certificate or such other certificate by whatever name called issued by the competent authority, and handing over physical possession of the Apartment to the Allottee, it shall be the responsibility of the Promoter to hand over the necessary documents and plans, including common areas, to the association of Allottee or the competent authority, as the case may be, as per the local laws i.e, the West Bengal Apartment Ownership Act, 1972, as amended up to date which provides for submission of the property comprised within the Project within three years from the allotment, subject date of completion certificate issued by the competent authority and to adjustment and recovery have the association of Allottee formed in the manner provided in the said Act. Cancellation by Purchaser - The Allottee shall have the right to cancel/ withdraw his allotment in the Project as provided in the Act. Provided that where the Allottee proposes to cancel/withdraw from the Project without any agreed liquidated damages or any other amount which may be payable to fault of the Promoter, the Promoter herein is entitled to forfeit the entire booking amount and any amounts payable for extra works (Cancellation Charge), paid for the allotment plus applicable taxes. The promoter shall intimate the allottee about such termination. After refund balance amount of the money paid by the Allottee shall be returned by the Promoter to the Allottee without interest/taxes within 45 days of such cancellation. Such refund shall be made without any taxes, interest or compensation and all charges and expenses that may be incurred by the Promoter in making such refund shall be borne by the Allottee. Upon withdrawal or cancellation of allotment by the Allottee under this Agreement, the Promoter shall have the right to re-allot the Apartment to any third party thereafter and the prior allotment in favour of the Allottee agrees that he/ she will stand canceled. All rights of the Allottee under any allotment letter issued or this Agreement shall also stand terminated. Compensation - The Developer shall compensate the Allottee in case of any loss caused to him due to defective title of the land on which the Project is being developed or has been developed, in the manner as provided under the Act and the claim for interest and compensation under this provision shall not have be barred by limitation provided under any rightslaw for the time being in force. Except for occurrence of a Force Majeure event, claims etc. against if the Promoter and that Developer fails to complete or is unable to give possession of the Apartment (i) in accordance with the terms of this Agreement, duly completed by the date specified or due to discontinuance of his business as a developer on account of suspension or revocation of the registration under the Act or for any other reason, the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. The Allottee shallliable, after Possession is made over to him, use and enjoy the said Apartment/Residential Apartment in a manner not inconsistent with the rights hereunder and without committing any breach, default or creating any hindrance to the rights of the other occupiers/Allottees of the Joyville Project. If the Promoter fails to abide by the time schedule for completing Joyville Phase 1B and handing over the Apartment(s) on demand to the Allottee, in case the Promoter agrees Allottee wishes to pay withdraw from the Project, without prejudice to any other remedy available, to return the Allotteetotal amount received by him/it in respect of the Apartment, who with interest at the rate prescribed in the Rules including compensation in the manner as provided under the Act within 45 (forty-five) days of it becoming due; Provided That where the Purchaser does not intend to withdraw from Joyville Phase 1Bthe Project, the Developer shall pay the Purchaser interest with applicable taxes as specified at the rate prescribed in the Rule, on all the amounts paid by the Allottee, Rules for every month of delay, till the handing over of the possession. The Allottee agrees to pay possession of the said Unit, which shall be paid by the Developer to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms Purchaser within 45 (forty-five) days of this Agreement from the date the said amount is payable by the Allottee to the Promoter till the payment is madeit becoming due.
Appears in 1 contract
Samples: Agreement for Sale
POSSESSION OF THE APARTMENT. 7.1. Schedule for possession of the said Apartment - The Promoter agrees and understands that timely delivery of possession of the Apartment to allottee and the common areas to the association of allottees and/or Federation or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Apartment by 31.01.2026 along with ready and complete common areas with all specifications, amenities and facilities of the project in place on unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other event or calamity 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. The 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 within 45 days the amount received by the Promoter from the allotment, allotment subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to the Promoter. The promoter shall intimate the allottee about such termination. After refund of the money paid by the Allottee, the Allottee 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. The Allottee shall, after Possession is made over to him, use and enjoy the said Apartment/Residential Apartment in a manner not inconsistent with the rights hereunder and without committing any breach, default or creating any hindrance to the rights of the other occupiers/Allottees of the Joyville Project. If the Promoter fails to abide by the time schedule for completing Joyville Phase 1B and handing over the Apartment(s) to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified in the Rule, on all the amounts paid by the Allottee, for every month of delay, till handing over of the possession. The Allottee agrees to pay to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERARERA and/or WBHIRA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement from the date the said amount is payable by the Allottee to the Promoter till the payment is made. Subject to Force Majeure Events, if the Promoter fails to deliver possession within months from the date of execution of this Agreement, the Promoter shall be liable to pay such compensation as may be prescribed under the Rules framed under RERA and/or WBHIRA or at such specified rate as may be specified by the Promoter and as agreed by the Allottee and which both parties agree that it is a reasonable estimate of the damages that the Allottee may suffer and the Allottee agrees that the Allottee shall have no other rights and/or remedies and/or claims whatsoever. The same will be adjusted with the amount payable as demanded in the “Notice of Possession”. The Promoter will pay all taxes, rates and cesses, maintenance charges and other outgoings in respect of the said Apartment upto the date of issue of the Notice of Possession.
Appears in 1 contract
Samples: Agreement for Allotment of Apartment
POSSESSION OF THE APARTMENT. 7.1. Schedule for possession of the said Apartment - Apartment:- The Promoter agrees and understands that timely delivery of possession of the Apartment to allottee the Allottee and the common areas to the association Association of allottees and/or Federation Allottees or the competent authorityCompetent Authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Apartment by 31.01.2026 along with ready and complete common areas with all specifications, amenities and facilities of the project in place on within 31.12.2022 unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other event or calamity caused by nature affecting the regular development of the real estate project ("“Force Majeure"”), if. 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. Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The 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 within 45 days the entire amount received by the Promoter from the allotment, subject to adjustment and recovery of any agreed liquidated damages or any other amount which may be payable to the Promoterallotment within 45 days from that date. The 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 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. Procedure for taking possession – The Allottee shallPromoter, after Possession is made over to himupon obtaining the occupancy certificate from the competent authority shall offer in writing the possession of the Apartment, use and enjoy the said Apartment/Residential Apartment in a manner not inconsistent with the rights hereunder and without committing any breach, default or creating any hindrance to the rights of the other occupiers/Allottees of the Joyville Project. If the Promoter fails to abide by the time schedule for completing Joyville Phase 1B and handing over the Apartment(s) to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from Joyville Phase 1B, interest with applicable taxes as specified Allottee in the Rule, on all the amounts paid by the Allottee, for every month of delay, till handing over of the possession. The Allottee agrees to pay to the Promoter interest with applicable taxes as prescribed under the Rule framed under WBRERA, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement to be taken within two months from the date of issue of occupancy certificate. [Provided that, in the said amount is payable absence of local law, the conveyance deed in favour of the Allottee shall be carried out by the Promoter within 3 months from the date of issue of Occupancy Certificate]. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee 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 the Completion Certificate for the project. The Promoter shall hand over the occupancy certificate of the Apartment, as the case may be, to the Promoter till Allottee at the payment is madetime of conveyance of the same. In case, the Allottee express his /her/their view to take physical possession of the under constructed apartment and gives a written application for handover of physical possession in such case the completion certificate shall be handed over only after obtaining the same from the competent authority.
Appears in 1 contract
Samples: Agreement for Sale