Common use of POSSESSION OF THE FLAT Clause in Contracts

POSSESSION OF THE FLAT. Schedule for possession of the said Flat: The Developer agrees and understands that timely delivery of possession of the Flat is the essence of the Agreement. The Developer, based on the approved plans and specifications, assures to hand over possession of the Flat on 31.07.2027 unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature 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 Purchasers agrees that the Developer shall be entitled to the extension of time for delivery of possession of the Flat, provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Purchasers agrees and confirms that, in the event it becomes impossible for the Developer to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Developer shall refund to the Purchasers the entire amount received by the Developer from the allotment within 45 days from that date. After refund of the money paid by the Purchasers, Purchasers agrees that he/ she shall not have any rights, claims etc. against the Developer and that the Developer shall be released and discharged from all its obligations and liabilities under this Agreement. Procedure for taking possession – The Developer, upon obtaining the occupancy certificate from the competent authority shall offer in writing the possession of the Flat, to the Purchasers in terms of this Agreement to be taken within 3 (three months from the date of issue of such notice and the Developer shall give possession of the Flat to the Purchasers. The Developer agrees and undertakes to indemnify the Purchasers in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Developer. The Purchasers agree(s) to pay the maintenance charges as determined by the Developer/association of Purchasers, as the case may be. The Developer on its behalf shall offer the possession to the Purchasers in writing within 30 days of receiving the completion certificate of the Project.

Appears in 1 contract

Samples: Agreement for Sale

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POSSESSION OF THE FLAT. 7.1 Schedule for possession of the said Flat: [Flat ] – The Vendor/Developer agrees and understands that timely delivery of possession of the Flat [Flat] to the Purchaser and the common areas to the Association of Purchasers or the competent authority, as the case may be, is the essence of the Agreement. The Developer, based on the approved plans and specifications, Vendor/Developer assures to hand over handover possession of the Flat [Flat] along with ready and complete common areas with all specifications, amenities and facilities of the Project in place on 31.07.2027 unless there is delay or failure due to war, flood, drought, fire, cyclone, cyclone earthquake or any other calamity caused by nature affecting effecting 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 Purchasers Purchaser agrees that the Developer Vendor shall be entitled to the extension of time for delivery of possession of the [Flat, provided ]. Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Purchasers Purchaser(s) agrees and confirms that, in the event it becomes impossible for the Vendor/Developer to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Developer Vendor shall refund to the Purchasers Purchaser(s) the entire amount received by the Developer Vendor from the allotment Allotment within 45 days from that date. The Vendor/Developer shall intimate the Purchaser about such termination at least thirty days prior to such termination. After refund of the money paid by the PurchasersPurchaser, Purchasers agrees the Purchaser agreed that he/ she shall not have any rights, claims etc. against the Developer Vendor and that the Vendor/Developer shall be released and discharged from all its obligations and liabilities under this Agreement. Procedure for taking possession – The DeveloperPossession Date has been accepted by the Allottee. However, upon obtaining if the occupancy certificate from Said Flat is made ready prior to the competent authority shall offer in writing Completion Date, the possession 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 Flat, Allottee are linked inter alia to the Purchasers in terms progress of this Agreement to be taken within 3 (three months from the date of issue of such notice construction, and the Developer shall give possession of the Flat to the Purchasers. The Developer agrees and undertakes to indemnify the Purchasers in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Developer. The Purchasers agree(s) to pay the maintenance charges as determined by the Developer/association of Purchasers, as the case may be. The Developer on its behalf shall offer the possession to the Purchasers in writing within 30 days of receiving the completion certificate of the Projectsame is not a time linked plan.

Appears in 1 contract

Samples: Agreement for Sale

POSSESSION OF THE FLAT. Schedule for possession of the said Flat: The Developer agrees and understands that timely delivery of possession of the Flat is the essence of the Agreement. The Developer, based on the approved plans and specifications, assures to hand over possession of the Flat on 31.07.2027 28.03.2026 unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature 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 Purchasers agrees that the Developer shall be entitled to the extension of time for delivery of possession of the Flat, provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Purchasers agrees and confirms that, in the event it becomes impossible for the Developer to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Developer shall refund to the Purchasers the entire amount received by the Developer from the allotment within 45 days from that date. After refund of the money paid by the Purchasers, Purchasers agrees that he/ she shall not have any rights, claims etc. against the Developer and that the Developer shall be released and discharged from all its obligations and liabilities under this Agreement. Procedure for taking possession – The Developer, upon obtaining the occupancy certificate from the competent authority shall offer in writing the possession of the Flat, to the Purchasers in terms of this Agreement to be taken within 3 (three months from the date of issue of such notice and the Developer shall give possession of the Flat to the Purchasers. The Developer agrees and undertakes to indemnify the Purchasers in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Developer. The Purchasers agree(s) to pay the maintenance charges as determined by the Developer/association of Purchasers, as the case may be. The Developer on its behalf shall offer the possession to the Purchasers in writing within 30 days of receiving the completion certificate of the Project.

Appears in 1 contract

Samples: Agreement for Sale

POSSESSION OF THE FLAT. 7.1 Schedule for possession of the said Flat: Flat – The Developer Vendor/Xxxxxxxxx agrees and understands that timely delivery of possession of the Flat to the Purchaser and the common areas to the Association of Purchasers or the competent authority, as the case may be, is the essence of the Agreement. The Developer, based on the approved plans and specifications, Vendor/Developer assures to hand over handover possession of the Flat along with ready and complete common areas with all specifications, amenities and facilities of the Project in place on 31.07.2027 or before 31.12.2028 unless there is delay or failure due to war, flood, drought, fire, cyclone, cyclone earthquake or any other calamity caused by nature affecting effecting 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 Purchasers Purchaser agrees that the Vendor/Developer shall be entitled to the extension of time for delivery of possession of the Flat, provided . Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Purchasers Purchaser(s) agrees and confirms that, in the event it becomes impossible for the Vendor/Developer to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Vendor/Developer shall refund to the Purchasers Purchaser(s) the entire amount received by the Vendor/Developer from the allotment Allotment with interest at the rate specified in the Rules within 45 days from that date. The Vendor/Developer shall intimate the Purchaser about such termination at least thirty days prior to such termination. After refund of the money paid by the PurchasersPurchaser, Purchasers agrees the Purchaser agreed that he/ she shall not have any rights, claims etc. against the Developer and that the Vendor/Developer shall be released and discharged from all its obligations and liabilities under this Agreement. Procedure for taking possession – The DeveloperPossession Date has been accepted by the Purchaser. However, upon obtaining if the occupancy certificate from Said Flat is made ready prior to the competent authority shall offer in writing Completion Date, the possession Purchaser 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 Flat, Purchaser are linked inter alia to the Purchasers in terms progress of this Agreement to be taken within 3 (three months from the date of issue of such notice construction, and the Developer shall give possession of the Flat to the Purchasers. The Developer agrees and undertakes to indemnify the Purchasers in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Developer. The Purchasers agree(s) to pay the maintenance charges as determined by the Developer/association of Purchasers, as the case may be. The Developer on its behalf shall offer the possession to the Purchasers in writing within 30 days of receiving the completion certificate of the Projectsame is not a time linked plan.

Appears in 1 contract

Samples: Agreement for Sale

POSSESSION OF THE FLAT. UNIT Schedule for possession of the said [Flat/Unit]: The Developer agrees and understands that timely delivery of possession of the Flat [Flat/Unit] is the essence of the Agreement. The Developer, based on the approved plans and specifications, assures to hand over possession of the Flat on 31.07.2027 [Flat/Unit] on,_ unless there is the delay or failure due to war, flood, drought, fire, cyclone, earthquake earthquake, non availability of raw material, labour strikes or disruptions of any nature,non availability of completion certificate due to departmental issue, any statutory order, rule, notification, or order or direction of any Court or any other calamity caused by nature 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 Purchasers Allottee/Purchaser agrees that the Developer shall be entitled to the extension of time for delivery of possession of the Flat[Flat/ Unit], provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Purchasers Allottee/Xxxxxxxxx agrees and confirms that, in the event it becomes impossible for the Developer to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Developer shall refund to the Purchasers Allottee/Purchaser the entire amount received by the Developer from the allotment within 45 days from that date, less the taxes, if any. For the refund of any taxes, the Purchaser/ Allottee shall be required to apply directly to the concerned authority. After refund of the money paid by the PurchasersAllottee/Purchaser, Purchasers Allottee/ Purchaser agrees that he/ she shall not have any rights, claims etc. against the Developer and that the Developer shall be released and discharged from all its obligations and liabilities under this AgreementAgreement .It is specifically mentioned that when the flat is purchasing by way of obtaining loan from any bank or any financial institution, refund will be subject to the clearance from the banking authority has to provided a documents which will reflect that on refund of the entire deposit amount the bank in all aspects have no right claim over the sale unit/ Flat. Procedure for taking possession – The Developer, upon obtaining the occupancy certificate from the competent authority shall within a period of days offer in writing the to take over possession of the [Flat/Unit], to the Purchasers Allottee/Purchaser in terms of this Agreement and the Purchaser/ Allottee shall be liable to be taken within 3 take such possession of the unit with in 01 (three One) months from the date of issue of such notice by executing necessary intemnities, undertakings and such other documentation e.g “registration of deed, as prescribed in this agreement hereafter referred to as the “ Possession date”. Irrespective of whether the Purchaser/ Allottee takes possession of the said flat/unit within the possession date or not, the Purchaser/ Allottee shall be deemed to have taken possession of the said flat/ unit on the possession date and maintenance charges and other applicable charges in respect to the said project and/or said building/s determined by the Developer shall give be applicable from such date when the possession of the Flat to the Purchasersbecomes due. The Developer Purchase / Allottee undertake and agrees and undertakes to indemnify the Purchasers in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Developer. The Purchasers agree(s) to pay the maintenance charges as determined by the developer on and from the date possession taking notice issued by developer, irrespective of whether it takes possession or not given possession for non- registration of the conveyance. During the time of execution of the deed of conveyance in respect of the said flat, the Purchaser/Allottee will solely liable for payment of the Stamp Duty, Registration Fees and other ancillary charges including legal fees and taxes which applicable on the said transaction . The Allottee/Purchaser before taking possession of the said Flat/Unit shall make over the payments and/or charges on demand by the Developer in terms of the this present agreement without any deduction and/or delay. In the event of any delay in payment and/or short payment the Developer shall be at liberty to charge interest and Purchaser/ Allottee shall be liable to pay interest until payment is made in full. Possession for Fit-Out: In case the Purchaser/Allottee seeks permission for carrying out , fit-out within the said Unit/Flat, he will be permitted to do so only upon receiving the completion certificate ( or at least after application for grant of CC is made)and upon payment of the entire consideration and Extras and Deposits as provided herein and also the requisite Stamp Duty and Registration charges payable on registration which shall be kept deposited by the Developer in a designed account till registration. During this time the Purchaser/Allottee will not be entitled to use the apartment, till completion certificate is received and deed of Conveyance is executed. Failure of Allottee/Purchaser to take Possession of [Flat/Unit]: Upon receiving a written intimation from the Developer, as per the procedure of taking possession written in the preceding clause the Allottee/Purchaser shall take possession of the [Flat/Unit] from the Developer by executing necessary indemnities, undertakings and such other documentation as prescribed in this Agreement, including payment of the amounts specified in this agreement whereupon the Developer shall give possession of the [Flat/Unit] to the Allottee/Purchaser. In case the Allottee/Purchaser fails to take possession within the time mentioned in the preceding clause for taking possession, such Allottee/Purchaser shall continue to be liable to pay maintenance charges as applicable. Possession by the Allottee/Purchaser – After obtaining the occupancy certificate and handing over physical possession of the [Flat/Unit] to the Allottee/Purchasers, it shall be the responsibility of the Developer to hand over the necessary Xerox copy documents and plans, including common areas, to the association of Purchasersthe Allottee/Purchasers or the competent authority, as the case may be. The Developer on its behalf shall offer , as per the possession to the Purchasers in writing within 30 days of receiving the completion certificate of the Projectprevailing laws and Rules.

Appears in 1 contract

Samples: Memorandum of Agreement

POSSESSION OF THE FLAT. 7.1 Schedule for possession of the said Flat: [Flat ] – The Developer Vendor agrees and understands that timely delivery of possession of the Flat [Flat] to the Purchaser and the common areas to the Association of Purchasers or the competent authority, as the case may be, is the essence of the Agreement. The Developer, based on the approved plans and specifications, Vendor assures to hand over handover possession of the Flat on 31.07.2027 [Flat] 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, cyclone earthquake or any other calamity caused by nature affecting effecting 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 Purchasers Purchaser agrees that the Developer Vendor shall be entitled to the extension of time for delivery of possession of the [Flat, provided ]. Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Purchasers Purchaser(s) agrees and confirms that, in the event it becomes impossible for the Developer Vendor to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Developer Vendor shall refund to the Purchasers Purchaser(s) the entire amount received by the Developer Vendor from the allotment Allotment within 45 days from that date. The Vendor shall intimate the Purchaser about such termination at least thirty days prior to such termination. After refund of the money paid by the PurchasersPurchaser, Purchasers agrees the Purchaser agreed that he/ she shall not have any rights, claims etc. against the Developer Vendor and that the Developer Vendor shall be released and discharged from all its obligations and liabilities under this Agreement. Procedure for taking possession – The DeveloperPossession Date has been accepted by the Allottee. However, upon obtaining if the occupancy certificate from Said Flat is made ready prior to the competent authority shall offer in writing Completion Date, the possession 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 Flat, Allottee are linked inter alia to the Purchasers in terms progress of this Agreement to be taken within 3 (three months from the date of issue of such notice construction, and the Developer shall give possession of the Flat to the Purchasers. The Developer agrees and undertakes to indemnify the Purchasers in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Developer. The Purchasers agree(s) to pay the maintenance charges as determined by the Developer/association of Purchasers, as the case may be. The Developer on its behalf shall offer the possession to the Purchasers in writing within 30 days of receiving the completion certificate of the Projectsame is not a time linked plan.

Appears in 1 contract

Samples: Agreement for Sale

POSSESSION OF THE FLAT. Schedule for possession of the said Flat: Said Flat- The Developer Promoter agrees and understands that timely delivery of possession of the Said Flat to the Allottee and the Common Areas of the Real Estate Project to the association of allottees (upon its formation and registration) is the essence of the Agreement. The Developer, based on the approved plans and specifications, Promoter assures to hand over possession of the Said Flat along with ready and complete Common Areas of the Real Estate Project (as specified in Schedule E below) with all specifications (as provided in Schedule D below) in place on 31.07.2027 June, 2023 (“Completion Date”), unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature affecting the regular development of the real estate project Real Estate Project ("Force Majeure"). If, however, the completion of the Real Estate Project is delayed due to the Force Majeure conditions then the Purchasers Allottee agrees that the Developer Promoter shall be entitled to the extension of time for delivery of possession of the Flat, provided . Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Purchasers Allottee agrees and confirms that, in the event it becomes impossible for the Developer Promoter to implement the project Project due to Force Majeure conditions, then this allotment shall stand terminated and the Developer Promoter shall refund to the Purchasers Allottee the entire amount received by the Developer Promoter from the allotment within 45 days from that date. The Promoter shall intimate the Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the PurchasersAllottee, Purchasers the Allottee 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 this Agreement. The Possession Date has been accepted by the Allottee. However, if the Said Flat 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 his/her /their/its payment obligations, having clearly agreed and understood that the payment obligations of the Allottee is 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 applicable laws, the Common Areas and/or the land comprised in the Project Property or any part thereof are required and to be transferred to the association of Allottee, 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 signs, executes and delivers all papers documents etc., as be required therefore and if any stamp duty, registration fees, legal fees, other expenses, etc., is payable therefore, then the same shall be borne paid and discharged by the allottees of the Project (including the Allottee herein) proportionately and the Promoter and/or the Owners shall not be liable therefore in any manner whatsoever and the Allottee and the other allottees shall keep the Promoter and the Owner fully indemnified with regard thereto. Procedure for taking possession - The DeveloperPromoter, upon obtaining the occupancy completion certificate from the competent authority shall offer in writing the possession of the Said Flat, to the Purchasers Allottee in terms of this Agreement to be taken within 3 (three two months from the date of issue of such notice completion certificate subject to payment of all amount due and the Developer shall give possession payable under this Agreement and Registration of the Flat to the PurchasersDeed of Conveyance. The Developer Promoter agrees and undertakes to indemnify the Purchasers Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the DeveloperPromoter. The Purchasers Allottee, after taking possession, agree(s) to pay the maintenance charges (as provided on Schedule H below) as determined by the DeveloperPromoter/association of Purchasersallottees, as the case may bebe from the date of the issuance of the completion certificate for the Project. The Developer on its behalf promoter shall offer hand over the possession to the Purchasers in writing within 30 days photocopy of receiving the completion certificate of the ProjectProject to the Allottee at the time of conveyance of the same.

Appears in 1 contract

Samples: Agreement for Sale

POSSESSION OF THE FLAT. Schedule for possession of the said Flat: The Developer agrees and understands that timely delivery of possession of the Flat is the essence of the Agreement. The Developer, based on the approved plans and specifications, assures to hand over possession of the Flat on 31.07.2027 by 26.09.2027 unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature 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 Purchasers agrees Purchaser/s agree/s that the Developer shall be entitled been titled to the extension of time for delivery of possession of the Flat, provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Purchasers agrees Purchaser/s agree/s and confirms that, in the event it becomes impossible for the Developer to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Developer shall refund to the Purchasers Purchaser/s the entire amount received by the Developer from the allotment within 45 days from that date. After refund of the money paid by the PurchasersPurchaser/s, Purchasers Purchaser/s agrees that he/ she shall not have any rights, claims etc. against the Developer and that the Developer shall be released and discharged from all its obligations and liabilities under this Agreement. Procedure for taking possession – The Developer, upon obtaining the occupancy certificate from the competent authority shall offer in writing the possession of the Flat, to the Purchasers Purchaser/s in terms of this Agreement to be taken within 3 (three months from the date of issue of such notice and the Developer shall give possession of the Flat to the Purchasers. Purchaser/s. The Developer agrees and undertakes to indemnify the Purchasers Purchaser/s in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Developer. The Purchasers Purchaser/s agree(s) to pay the maintenance charges as determined by the Developer/association of PurchasersPurchaser/s, as the case may be. The Developer on its behalf shall offer the possession to the Purchasers Purchaser/s in writing within 30 days of receiving the completion certificate of the Project. Failure of Purchaser/s to take Possession of Flat: Upon receiving a written intimation from the Developer as per clause 7.2, the Purchaser/s shall take possession of the Flat from the Developer by executing necessary indemnities, undertakings and such other documentation as prescribed in this Agreement, and the Developer shall give possession of the Flat to the Purchaser/s. In case the Purchaser/s fails to take possession within the time provided in clause 7.2, such Purchaser/s shall continue to be liable to pay maintenance charges as applicable. Possession by the Purchaser/s – After obtaining the occupancy certificate and handing over physical possession of the Flat to the Purchaser/s, it shall be the responsibility of the Developer to hand over the necessary documents and plans, including common areas, to the association of the Purchaser/s or the competent authority, as the case may be, as per the local laws. Cancellation by Purchaser/s – The Purchaser/s shall have the right to cancel/withdraw his allotment in the Project as provided in the Act: Provided that where the Purchaser/s proposes to cancel/withdraw from the project without any fault of the Developer, the Developer herein is entitled to forfeit the booking amount paid for the allotment. The balance amount of money paid by the Purchaser/s shall be returned by the Developer to the Purchaser/s within 45 days of such cancellation. Compensation – The Developer shall compensate the Purchaser/s 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 compensation under this section shall not be barred by limitation provided under any law for the time being in force. Except for occurrence of a Force Majeure event, if the Developer fails to complete or is unable to give possession of the Flat (i) in accordance with the terms of this Agreement, duly completed by the date specified herein; or (ii) 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 Developer shall be liable, on demand to the Purchasers, in case the Purchaser/s wishes to withdraw from the Project, without prejudice to any other remedy available, to return the total amount received by him in respect of the Flat, with interest at the rate specified in the Rules within 45 days including compensation in the manner as provided under the Act. Provided that where if the Purchaser/s do/does not intend to withdraw from the Project, the Developer shall pay the Purchaser/s interest at the rate specified in the Rules for every month of delay, till the handing over of the possession of the Flat.

Appears in 1 contract

Samples: Agreement for Sale

POSSESSION OF THE FLAT. Schedule for possession of the said Flat: The Developer agrees and understands that timely delivery of possession of the Flat is the essence of the Agreement. The Developer, based on the approved plans and specifications, assures to hand over possession of the Flat on 31.07.2027 by 30th Day of April, 2026 unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature 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 Purchasers agrees Purchaser/s agree/s that the Developer shall be entitled been titled to the extension of time for delivery of possession of the Flat, provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Purchasers agrees Purchaser/s agree/s and confirms that, in the event it becomes impossible for the Developer to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Developer shall refund to the Purchasers Purchaser/s the entire amount received by the Developer from the allotment within 45 days from that date. After refund of the money paid by the PurchasersPurchaser/s, Purchasers Xxxxxxxxx/s agrees that he/ she shall not have any rights, claims etc. against the Developer and that the Developer shall be released and discharged from all its obligations and liabilities under this Agreement. Procedure for taking possession – The Developer, upon obtaining the occupancy certificate from the competent authority shall offer in writing the possession of the Flat, to the Purchasers Purchaser/s in terms of this Agreement to be taken within 3 (three months from the date of issue of such notice and the Developer shall give possession of the Flat to the Purchasers. Purchaser/s. The Developer agrees and undertakes to indemnify the Purchasers Purchaser/s in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Developer. The Purchasers Purchaser/s agree(s) to pay the maintenance charges as determined by the Developer/association of PurchasersPurchaser/s, as the case may be. The Developer on its behalf shall offer the possession to the Purchasers Purchaser/s in writing within 30 days of receiving the completion certificate of the Project. Failure of Purchaser/s to take Possession of Flat: Upon receiving a written intimation from the Developer as per clause 7.2, the Purchaser/s shall take possession of the Flat from the Developer by executing necessary indemnities, undertakings and such other documentation as prescribed in this Agreement, and the Developer shall give possession of the Flat to the Purchaser/s. In case the Purchaser/s fails to take possession within the time provided in clause 7.2, such Purchaser/s shall continue to be liable to pay maintenance charges as applicable. Possession by the Purchaser/s – After obtaining the occupancy certificate and handing over physical possession of the Flat to the Purchaser/s, it shall be the responsibility of the Developer to hand over the necessary documents and plans, including common areas, to the association of the Purchaser/s or the competent authority, as the case may be, as per the local laws. Cancellation by Xxxxxxxxx/s – The Purchaser/s shall have the right to cancel/withdraw his allotment in the Project as provided in the Act: Provided that where the Purchaser/s proposes to cancel/withdraw from the project without any fault of the Developer, the Developer herein is entitled to forfeit the booking amount paid for the allotment. The balance amount of money paid by the Purchaser/s shall be returned by the Developer to the Purchaser/s within 45 days of such cancellation. Compensation – The Developer shall compensate the Purchaser/s 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 compensation under this section shall not be barred by limitation provided under any law for the time being in force. Except for occurrence of a Force Majeure event, if the Developer fails to complete or is unable to give possession of the Flat (i) in accordance with the terms of this Agreement, duly completed by the date specified herein; or (ii) 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 Developer shall be liable, on demand to the Purchasers, in case the Purchaser/s wishes to withdraw from the Project, without prejudice to any other remedy available, to return the total amount received by him in respect of the Flat, with interest at the rate specified in the Rules within 45 days including compensation in the manner as provided under the Act. Provided that where if the Purchaser/s do/does not intend to withdraw from the Project, the Developer shall pay the Purchaser/s interest at the rate specified in the Rules for every month of delay, till the handing over of the possession of the Flat.

Appears in 1 contract

Samples: Agreement for Sale

POSSESSION OF THE FLAT. UNIT Schedule for possession of the said [Flat/Unit]: The Developer agrees and understands that timely delivery of possession of the Flat [Flat/Unit] is the essence of the Agreement. The Developer, based on the approved plans and specifications, assures to hand over possession of the Flat on 31.07.2027 [Flat/Unit] on, unless there is the delay or failure due to war, flood, drought, fire, cyclone, earthquake earthquake, non availability of raw material, labour strikes or disruptions of any nature,non availability of completion certificate due to departmental issue, any statutory order, rule, notification, or order or direction of any Court or any other calamity caused by nature 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 Purchasers Allottee/Purchaser agrees that the Developer shall be entitled to the extension of time for delivery of possession of the Flat[Flat/ Unit], provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Purchasers Allottee/Xxxxxxxxx agrees and confirms that, in the event it becomes impossible for the Developer to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Developer shall refund to the Purchasers Allottee/Purchaser the entire amount received by the Developer from the allotment within 45 days from that date, less the taxes, if any. For the refund of any taxes, the Purchaser/ Allottee shall be required to apply directly to the concerned authority. After refund of the money paid by the PurchasersAllottee/Purchaser, Purchasers Allottee/ Purchaser agrees that he/ she shall not have any rights, claims etc. against the Developer and that the Developer shall be released and discharged from all its obligations and liabilities under this AgreementAgreement .It is specifically mentioned that when the flat is purchasing by way of obtaining loan from any bank or any financial institution, refund will be subject to the clearance from the banking authority has to provided a documents which will reflect that on refund of the entire deposit amount the bank in all aspects have no right claim over the sale unit/ Flat. Procedure for taking possession – The Developer, upon obtaining the occupancy certificate from the competent authority shall within a period of 30 days offer in writing the to take over possession of the [Flat/Unit], to the Purchasers Allottee/Purchaser in terms of this Agreement and the Purchaser/ Allottee shall be liable to be taken take such possession of the unit within 3 01 (three One) months from the date of issue of such notice by executing necessary, undertakings and such other documentation i.e., “registration of deed as prescribed in this agreement hereafter referred to as the “ Possession date”. Irrespective of whether the Purchaser/ Allottee takes possession of the said flat/unit within the possession date or not, the Purchaser/ Allottee shall be deemed to have taken possession of the said flat/ unit on the possession date and maintenance charges and other applicable charges in respect to the said project and/or said building/s determined by the Developer shall give be applicable from such date when the possession of the Flat to the Purchasersbecomes due. The Developer Purchase/Allottee undertake and agrees and undertakes to indemnify the Purchasers in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Developer. The Purchasers agree(s) to pay the maintenance charges as determined by the developer on and from the date possession taking notice issued by developer, irrespective of whether it takes possession or not given possession for non-registration of the conveyance. During the time of execution of the deed of conveyance in respect of the said flat, the Purchaser/Allottee will solely liable for payment of the Stamp Duty, Registration Fees and other ancillary charges including legal fees and taxes which applicable on the said transaction. The Allottee/Purchaser before taking possession of the said Flat/Unit shall make over the payments and/or charges on demand by the Developer in terms of the this present agreement without any deduction and/or delay. In the event of any delay in payment and/or short payment the Developer shall be at liberty to charge interest and Purchaser/ Allottee shall be liable to pay interest until payment is made in full. Possession for Fit-Out: In case the Purchaser/Allottee seeks permission for carrying out , fit-out within the said Unit/Flat, he will be permitted to do so only upon receiving the completion certificate ( or at least after application for grant of CC is made)and upon payment of the entire consideration and Extras and Deposits as provided herein and also the requisite Stamp Duty and Registration charges payable on registration which shall be kept deposited by the Developer in a designed account till registration. During this time the Purchaser/Allottee will not be entitled to use the apartment, till completion certificate is received and deed of Conveyance is executed. Failure of Allottee/Purchaser to take Possession of [Flat/Unit]: Upon receiving a written intimation from the Developer, as per the procedure of taking possession written in the preceding clause the Allottee/Purchaser shall take possession of the [Flat/Unit] from the Developer by executing necessary indemnities, undertakings and such other documentation as prescribed in this Agreement, including payment of the amounts specified in this agreement whereupon the Developer shall give possession of the [Flat/Unit] to the Allottee/Purchaser. In case the Allottee/Purchaser fails to take possession within the time mentioned in the preceding clause for taking possession, such Allottee/Purchaser shall continue to be liable to pay maintenance charges as applicable. Possession by the Allottee/Purchaser – After obtaining the occupancy certificate and handing over physical possession of the [Flat/Unit] to the Allottee/Purchasers, it shall be the responsibility of the Developer to hand over the necessary Xerox copy documents and plans, including common areas, to the association of Purchasersthe Allottee/Purchasers or the competent authority, as the case may be, as per the prevailing laws and Rules. Cancellation by Allottee/Purchaser – The Allottee/Purchaser shall have the right to cancel / withdraw his allotment in the Project as provided in the Act : Provided that where the Allottee/Purchaser unilaterally intends to cancel/withdraw from the intended purchase of unit under the above project, the Developer herein entitled to forfeit the booking amount paid for the Purchaser. The balance amount will be refunded to the Purchase / Allottee, after deducting the due payment of the purchaser on account delay in making any payment of installments or others. The balance amount of money if paid by the Allottee/Purchaser shall be returned by the Developer to the Allottee/Purchaser within 45 days from such cancellation, less the taxes, if any. For the refund of any taxes, Purchaser/ Allottee shall be required to apply directly to the concerned authorities. Compensation– The Developer shall compensate the Allottee/Purchaser in case of any loss caused to him due to defective title of the land, on its behalf which the project is being developed or has been developed, in the manner as provided under the Act and the claim for compensation under this provision shall offer not be barred by limitation provided under any law for the time being in force. But such liability shall cease with the handing over possession of the Unit/Flat to the Purchaser/Allottee and common areas and the common purpose to the Association of Purchaser. Except for occurrence of a Force Majeure event, if the Developer fails to complete or is unable to give possession of the [Flat/Unit] (i) in accordance with the terms of this Agreement, duly completed by the date specified herein; or (ii) 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 Developer shall be liable, on demand to the Allottee/Purchasers, in case the Allottee/Purchaser wishes to withdraw from the Project, without prejudice to any other remedy available, to return the total amount received by him in respect of the [Flat/Unit], with interest at the rate specified in the Rules within 45 days including compensation in the manner as provided under the Act but not the taxes, if any paid by the Purchaser/ Allottee for the refund of which the Purchaser/ Allottee shall have to apply directly to the concerned authority. Provided that where if the Allottee/Purchaser does not intend to withdraw from the Project, the Developer shall pay the Allottee/Purchaser interest at the rate specified in the Rules for every month of delay, till the handing over of the possession to the Purchasers in writing within 30 days of receiving the completion certificate of the Project[Flat/Unit]. Provided further that if the said Flat/Unit is completed in all respect, as/ within the date written herein, then the Purchaser/ Allottee will not be entitled to exercise its aforementioned right of withdrawal.

Appears in 1 contract

Samples: Agreement for Sale

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POSSESSION OF THE FLAT. 7.1 Schedule for possession of the said Flat: [Flat ] – The Developer Vendor agrees and understands that timely delivery of possession of the Flat [Flat] to the Purchaser and the common areas to the Association of Purchasers or the competent authority, as the case may be, is the essence of the Agreement. The Developer, based on the approved plans and specifications, Vendor assures to hand over handover possession of the Flat [Flat] along with ready and complete common areas with all specifications, amenities and facilities of the Project in place on 31.07.2027 unless there is delay or failure due to war, flood, drought, fire, cyclone, cyclone earthquake or any other calamity caused by nature affecting effecting 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 Purchasers Purchaser agrees that the Developer Vendor shall be entitled to the extension of time for delivery of possession of the [Flat, provided ]. Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Purchasers Purchaser(s) agrees and confirms that, in the event it becomes impossible for the Developer Vendor to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Developer Vendor shall refund to the Purchasers Purchaser(s) the entire amount received by the Developer Vendor from the allotment Allotment within 45 days from that date. The Vendor shall intimate the Purchaser about such termination at least thirty days prior to such termination. After refund of the money paid by the PurchasersPurchaser, Purchasers agrees the Purchaser agreed that he/ she shall not have any rights, claims etc. against the Developer Vendor and that the Developer Vendor shall be released and discharged from all its obligations and liabilities under this Agreement. Procedure for taking possession – The DeveloperPossession Date has been accepted by the Allottee. However, upon obtaining if the occupancy certificate from Said Flat is made ready prior to the competent authority shall offer in writing Completion Date, the possession 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 Flat, Allottee are linked inter alia to the Purchasers in terms progress of this Agreement to be taken within 3 (three months from the date of issue of such notice construction, and the Developer shall give possession of the Flat to the Purchasers. The Developer agrees and undertakes to indemnify the Purchasers in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Developer. The Purchasers agree(s) to pay the maintenance charges as determined by the Developer/association of Purchasers, as the case may be. The Developer on its behalf shall offer the possession to the Purchasers in writing within 30 days of receiving the completion certificate of the Projectsame is not a time linked plan.

Appears in 1 contract

Samples: Agreement for Sale

POSSESSION OF THE FLAT. Schedule for possession of the said Flat: The Developer PROMOTER/VENDOR/LAND OWNER agrees and understands that timely delivery of possession of the Flat is the essence of the Agreement. The DeveloperPROMOTER/VENDOR/LAND OWNER, based on the approved plans and specifications, assures to hand over possession of the Flat on 31.07.2027 December 2024, unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature nature, Pandemic 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 Purchasers ALLOTTEE/PURCHASER agrees that the Developer PROMOTER/VENDOR/LAND OWNER shall be entitled to the extension of time for delivery of possession of the Flat, provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Purchasers agrees ALLOTTEE/PURCHASER agree and confirms confirm that, in the event it becomes impossible for the Developer PROMOTER/VENDOR/LAND OWNER to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Developer PROMOTER/VENDOR/LAND OWNER shall refund to the Purchasers ALLOTTEE/PURCHASER the entire amount received by the Developer PROMOTER/VENDOR/LAND OWNER from the allotment ALLOTTEE/PURCHASER within 45 days from that date. After refund of the money paid by the PurchasersALLOTTEE/PURCHASER, Purchasers agrees ALLOTTEE/PURCHASER agree that he/ she he shall not have any rights, claims etc. against the Developer PROMOTER/VENDOR/LAND OWNER and that the Developer PROMOTER/VENDOR/LAND OWNER shall be released and discharged from all its obligations and liabilities under this Agreement. Procedure for taking possession PROCEDURE FOR TAKING POSSESSION – The DeveloperPROMOTER/VENDOR/LAND OWNER, upon obtaining the occupancy occupancy/completion certificate from the competent authority shall offer in writing the possession of the Flat, to the Purchasers ALLOTTEE/PURCHASER in terms of this Agreement to be taken within 3 (three months from the date of issue of such notice and the Developer PROMOTER/VENDOR/LAND OWNER shall give possession of the Flat to the PurchasersALLOTTEE/PURCHASER. The Developer PROMOTER/VENDOR/LAND OWNER agrees and undertakes to indemnify the Purchasers ALLOTTEE/PURCHASER in case of failure of fulfillment fulfilment of any of the provisions, formalities, documentation on part of the DeveloperPROMOTER/VENDOR/LAND OWNER. The Purchasers agree(s) ALLOTTEE/PURCHASER agree to pay the maintenance charges as determined by the DeveloperPROMOTER/association VENDOR/LAND OWNER /association of PurchasersALLOTTEE/PURCHASER, as the case may be. The Developer PROMOTER/VENDOR/LAND OWNER on its behalf shall offer the possession to the Purchasers ALLOTTEE in writing within 30 90 days of receiving the occupancy/completion certificate of the Project. FAILURE OF ALLOTTEE/PURCHASER TO TAKE POSSESSION OF FLAT: Upon receiving a written intimation from the PROMOTER/VENDOR/LAND OWNER as per clause 7.2, the ALLOTTEE/PURCHASER shall take possession of the Flat from the PROMOTER/VENDOR/LAND OWNER by executing necessary indemnities, undertakings and such other documentation as prescribed in this Agreement, and the PROMOTER/VENDOR/LAND OWNER shall give possession of the Flat to the ALLOTTEE/PURCHASER. In case the ALLOTTEE/PURCHASER fails to take possession within the time provided in clause 7.2, such ALLOTTEE/PURCHASER shall continue to be liable to pay maintenance charges as applicable. POSSESSION BY THE ALLOTTEE/PURCHASER – After obtaining the occupancy/completion certificate and handing over physical possession of the Flat to the ALLOTTEE/PURCHASER, it shall be the responsibility of the PROMOTER/VENDOR/LAND OWNER, to hand over the necessary documents and plans, including common areas, to the association of the ALLOTTEE/PURCHASER or the competent authority, as the case may be, as per the local laws. CANCELLATION BY ALLOTTEE/PURCHASER – The ALLOTTEE/PURCHASER shall have the right to cancel/withdraw HIS allotment in the Project as provided in the Act: Provided that where the ALLOTTEE/PURCHASER propose to cancel/withdraw from the project without any fault of the PROMOTER/VENDOR/LAND OWNER, the PROMOTER/VENDOR/LAND OWNERshall be entitled to cancellation charges as mentioned inSIXTHSCHEDULE which may be treated as an integral part of this Agreement.

Appears in 1 contract

Samples: Agreement for Sale

POSSESSION OF THE FLAT. er/ Promoter shall constitute a Schedule for possession of the said Flat: The Developer Developer/ Xxxxxxxx agrees and understands that timely delivery of possession of the Flat is Flatis the essence of the Agreement. The DeveloperDeveloper/ Promoter, based on the approved plans and specifications, assures to hand over possession of the Flat on 31.07.2027 , unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature 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 Purchasers Purchaser agrees that the Developer Developer/ Promoter shall be entitled to the extension of time for delivery of possession of the Flat[Apartment/Plot], provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Purchasers Purchaser agrees and confirms that, in the event it becomes impossible for the Developer Developer/ Promoter to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Developer Developer/ Promoter shall refund to the Purchasers Purchaser the entire amount received by the Developer Developer/ Promoter from the allotment within 45 days from that date. After refund of the money paid by the PurchasersPurchaser, Purchasers Xxxxxxxxx agrees that he/ she shall not have any rights, claims etc. against the Developer Developer/ Promoter and that the Developer Developer/ Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. Procedure for taking possession – The DeveloperDeveloper/ Promoter, upon obtaining the occupancy certificate certificate* from the competent authority shall offer in writing the possession of the Flat, to the Purchasers Purchaser in terms of this Agreement to be taken within 3 (three months from the date of issue of such notice and the Developer Developer/ Promoter shall give possession of the Flat to Flatto the PurchasersPurchaser. The Developer Developer/ Xxxxxxxx agrees and undertakes to indemnify the Purchasers Purchaser in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the DeveloperDeveloper/ Promoter. The Purchasers Purchaser agree(s) to pay the maintenance charges as determined by the DeveloperDeveloper/ Promoter/association of Purchasers, as the case may be. The Developer Developer/ Promoter on its behalf shall offer the possession to the Purchasers Purchaser in writing within 30 days of receiving the completion certificate occupancy certificate* of the Project. XX X. XXXXXXX Failure of Purchaser to take Possession of [Apartment/Plot]: Upon receiving a written intimation from the Developer/ Promoter as per clause 7.2, the Purchaser shall take possession of the Flatfrom the Developer/ Promoter by executing necessary indemnities, undertakings and such other documentation as prescribed in this Agreement, and the Developer/ Promoter shall give possession of the Flatto the Purchaser. In case the Purchaser fails to take possession within the time provided in clause 7.2, such Purchaser shall continue to be liable to pay maintenance charges as applicable. Possession by the Purchaser – After obtaining the occupancy certificate* and handing over physical possession of the Flatto the Purchasers, it shall be the responsibility of the Developer/ Promoter to hand over the necessary documents and plans, including common areas, to the association of the Purchasers or the competent authority, as the case may be, as per the local laws. Cancellation by Purchaser – The Purchaser shall have the right to cancel/withdraw his allotment in the Project as provided in the Act: Provided that where the Purchaser proposes to cancel/withdraw from the project without any fault of the Developer/ Promoter, the Developer/ Promoter herein is entitled to forfeit the booking amount paid for the allotment. The balance amount of money paid by the Purchaser shall be returned by the Developer/ Promoter to the Purchaser within 45 days of such cancellation.

Appears in 1 contract

Samples: Agreement for Sale

POSSESSION OF THE FLAT. Schedule for possession of the said Flat: Said Flat - The Developer Promoter agrees and understands that timely delivery of possession of the Said Flat to the Allottee and the Common Areas of the Real Estate Project to the association of allottees (upon its formation and registration) is the essence of the Agreement. The Developer, based on the approved plans and specifications, Promoter assures to hand over possession of the Said Flat along with ready and complete Common Areas of the Real Estate Project (as specified in Schedule E below) with all specifications (as provided in Schedule D below) in place on 31.07.2027 December, 2021 (“Completion Date”), unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature affecting the regular development of the real estate project Real Estate Project ("Force Majeure"). If, however, the completion of the Real Estate Project is delayed due to the Force Majeure conditions then the Purchasers Allottee agrees that the Developer Promoter shall be entitled to the extension of time for delivery of possession of the Flat, provided . Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Purchasers Allottee agrees and confirms that, in the event it becomes impossible for the Developer Promoter to implement the project Project due to Force Majeure conditions, then this allotment shall stand terminated and the Developer Promoter shall refund to the Purchasers Allottee the entire amount received by the Developer Promoter from the allotment within 45 days from that date. The Promoter shall intimate the allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the PurchasersAllottee, Purchasers the Allottee 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 this Agreement. The Possession Date has been accepted by the Allottee. However, if the Said Flat 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 his/her /their/its payment obligations, having clearly agreed and understood that the payment obligations of the Allottee is 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 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 allottee, 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 signs, executes and delivers all papers documents etc., as be required therefore and if any stamp duty, registration fees, legal fees, other expenses, etc., is payable therefore, then the same shall be borne paid and discharged by the allottees of the Project (including the Allottee herein) proportionately and the Promoter and/or the Owners shall not be liable therefore in any manner whatsoever and the Allottee and the other allottees shall keep the Promoter and the Owner fully indemnified with regard thereto. Procedure for taking possession - The DeveloperPromoter, upon obtaining the occupancy completion certificate from the competent authority shall offer in writing the possession of the Said Flat, to the Purchasers Allottee in terms of this Agreement to be taken within 3 (three two months from the date of issue of such notice completion certificate subject to payment of all amount due and the Developer shall give possession payable under this Agreement and Registration of the Flat to the PurchasersDeed of Conveyance. The Developer Promoter agrees and undertakes to indemnify the Purchasers Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the DeveloperPromoter. The Purchasers Allottee, after taking possession, agree(s) to pay the maintenance charges (as provided on Schedule H below) as determined by the DeveloperPromoter/association of Purchasersallottees, as the case may bebe from the date of the issuance of the completion certificate for the Project. The Developer on its behalf promoter shall offer hand over the possession to the Purchasers in writing within 30 days photocopy of receiving the completion certificate of the ProjectProject to the allottee at the time of conveyance of the same.

Appears in 1 contract

Samples: Draft Agreement

POSSESSION OF THE FLAT. Schedule for possession of the said Flat: Flat - The Developer Promoter agrees and understands that timely delivery of possession of the Flat is the essence of the Agreement. The DeveloperPromoter, based on the approved plans and specifications, assures to hand over possession of the Flat on 31.07.2027 ORCHID TOWER on or before 31st December 2024, unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature 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 Purchasers Allottee agrees that the Developer Promoter shall be entitled to the extension of time for delivery of possession of the Flat, provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Purchasers Allottee agrees and confirms that, in the event it becomes impossible for the Developer Promoter to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Developer Promoter shall refund to the Purchasers Allottee the entire amount received by the Developer Promoter from the allotment within 45 ninety days from that datethe date of termination of allotment. After refund of the money paid by the PurchasersAllottee, Purchasers the Allottee 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 this Agreement. Procedure for taking possession - The DeveloperPromoter, upon obtaining the [occupancy Certificate or such other certificate from the competent authority shall offer in writing the possession of the FlatFlat ORCHID TOWER, to the Purchasers Allottee in terms of this Agreement to be taken within 3 (three months from the date of issue of such notice and the Developer Promoter shall give possession of the Flat to the PurchasersAllottee. The Developer Promoter agrees and undertakes to indemnify the Purchasers Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the DeveloperPromoter. The Purchasers agree(s) Allottee agrees to pay the maintenance charges as determined by the Developer/association Promoter / Association of Purchasersallottees, as the case may be. The Developer Promoter on its behalf shall offer the possession to the Purchasers Allottee in writing within 30 60 (Sixty) days of receiving the completion occupancy certificate of the Project.

Appears in 1 contract

Samples: 202.61.117.163

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