Common use of POSSESSION OF THE PLOT Clause in Contracts

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot- The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee and the common areas to the association of allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot 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 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 Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, 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 the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee 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. 7.2 Procedure for taking possession - The Promoter, upon obtaining the completion certificate from the competent authority shall offer in writing the possession of the Plot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of completion certificate. That the Promotor shall execute registered sale-deed of the plot within three months from the date of the completion certificate in favour of the Allottee or his nominees. 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 copy of the completion certificate of the plot, to the allottee at the time of conveyance of the same. It may be understood that completion certificate is issued after the completion of the entire project by the competent authority and no completion certificate is issued for a single plot. That in case the allotee desires to take possession of the plot before issuance of the completion certificate and on payment of the entire amount the allotee may do so at his own risk as to its costs and consequences. It also

Appears in 2 contracts

Samples: Agreement for Sale, Agreement for Sale

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POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot- Plot - The Promoter agrees and understands that timely delivery of possession of the Plot plot to the allottee and the common areas to the association of allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on 31-12-2019, 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 Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plotplot, provided that such Force Majeure conditions are not of a nature, 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 the entire amount received by the Promoter from the allotment within 45 60 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. 7.2 Procedure for taking possession - The Promoter, upon obtaining the completion certificate occupancy certificate* from the competent authority shall offer in writing the possession of the Plotplot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of completion occupancy certificate. That [Provided that, in the Promotor shall execute registered sale-absence of local law, the conveyance deed in favour of the plot allottee shall be carried out by the promoter within three 3 months from the date of issue of occupancy certificate]. The Promoter agrees and undertakes to indemnify the completion certificate Allottee in favour case of failure of fulfilment of any of the Allottee or his nomineesprovisions, 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 copy of the completion occupancy certificate of the apartment/plot, as the case may be, to the allottee at the time of conveyance of the same. It may be understood that completion certificate is issued after the completion of the entire project by the competent authority and no completion certificate is issued for a single plot. That in case the allotee desires to take possession of the plot before issuance of the completion certificate and on payment of the entire amount the allotee may do so at his own risk as to its costs and consequences. It also.

Appears in 2 contracts

Samples: Agreement for Sale, Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot- Plot - The Promoter Vendor agrees and understands that timely delivery of possession of the Plot to the allottee and the common areas to the association of allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter Vendor, based on the approved plans and specifications assures to hand over possession of the Plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on or before 16.08.2022 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 Allottee Vendee agrees that the Promoter Vendor shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee Vendee agrees and confirms that, in the event it becomes impossible for the Promoter Vendor to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter Vendor shall refund to the Allottee Vendee the entire amount received by the Promoter Vendor from the allotment within 45 ninety days from that datethe date of termination of Allotment. The promoter Vendor shall intimate the allottee Vendee about such termination at least thirty days prior to such termination. After refund of the money paid by the AllotteeVendee, the Allottee Vendee agrees that he/ 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. 7.2 Procedure for taking possession of the Plot - The PromoterVendor, upon obtaining the occupancy certificate/ part completion certificate or completion certificate* from the competent authority shall offer in writing the possession of the Plot, to the Allottee Vendee in terms of this Agreement agreement to be taken within two months 30 days from the date of issue of completion certificate. That such notice and the Promotor Vendor shall execute registered sale-deed give possession of the plot within three months from Plot to the date Vendee. The Vendor agrees and undertakes to indemnify the Vendee in case of failure of fulfilment of any of the completion certificate in favour provisions, formalities, documentation on part of the Allottee or his nomineesVendor. The Allottee, after taking possession, agree(s) Vendee agrees to pay the maintenance charges as determined by the Promoterby the Vendor/association Association of allotteesVendees, as the case may be after be. The vendor on its behalf shall offer the issuance possession to the Vendee in writing within 30 days of receiving the occupancy certificate/ part completion certificate for or completion certificate* of the project. The promoter That the physical possession of the Plot shall be given to the Vendee by the Estate Manager/Project In charge of the Project only after the Vendee provides original Possession Memo issued by the Vendor, authorizing the Estate Manager/Project In charge to hand over the copy of the completion certificate of the plot, physical possession to the allottee at the time of conveyance of the sameVendee. It may be understood that completion certificate is issued The Vendor shall issue such Possession Memo only after the completion of Vendee has paid all the entire project dues, deposited and signed all the requisite documents. Provided that where the Vendor have applied for the occupation certificate by submitting the application and all other documents with the competent authority and no completion certificate is issued for a single plot. That neither any objection nor the occupation certificate* has been received from the authority within 3 (three) months of such application, the Vendor shall offer in case writing the allotee desires to take possession of the plot before issuance Plot to the Vendee as stated above. Provided that where the Vendor make the offer of possession of the completion certificate and on payment Plot to the Vendee but the Vendee fails to take the possession after completing all the formalities within 30 (thirty) days of such offer, the entire amount Vendee shall be liable to pay the allotee may do so at his own risk maintenance charges as to its costs and consequences. It alsodescribed above after the expiry of thirty days from the date of such offer of possession.

Appears in 2 contracts

Samples: Sale Agreement, Sale Agreement

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot- Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee and the common areas to the association of allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on or before 31/ 07/ 2020, 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 Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, 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 the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee 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. 7.2 Procedure for taking possession - The Promoter, upon obtaining the occupancy certificate* (completion certificate from competent authority in case of plotted development, as per local laws) from the competent authority shall offer in writing the possession of the Plot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of occupancy certificate / completion certificate. That [Provided that, in the Promotor shall execute registered sale-absence of local law, the conveyance deed in favour of the plot allottee shall be carried out by the promoter within three 3 months from the date of issue of occupancy certificate]. The Promoter agrees and undertakes to indemnify the completion certificate Allottee in favour case of failure of fulfilment of any of the Allottee or his nomineesprovisions, formalities, documentation on part of the Promoter. The Allottee, after taking possession, agree(s) to pay the maintenance charges as determined by the Promoter/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 copy of the occupancy certificate / completion certificate of the plot, as the case may be, to the allottee at the time of conveyance of the same. It may be understood that And in case of plotted development, where a single development completion certificate is issued after obtained by the completion Promoter for whole project than a copy of the entire project by same will be provided to the competent authority and no completion certificate is issued for a single plot. That in case allottee at the allotee desires to take possession time of conveyance of the plot before issuance of the completion certificate and on payment of the entire amount the allotee may do so at his own risk as to its costs and consequences. It alsosame.

Appears in 2 contracts

Samples: Sale Agreement, Sale Agreement

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot- Plot: The Promoter agrees and understands that timely delivery of the possession of the Plot to the allottee Allottee and the common areas Common Areas of the Project, if any, to the association of allottees or the competent authorityNotified Agency, as the case may be, and the Shared Common Facilities/Township Level Common Facilities consisting of basic infrastructure facilities of the Township like driveways, Roads, Street lighting, Power Supply and Distribution System and other facilities as described in the DPR to the agency(ies) notified by the Lessor, i.e. the Notified Agency is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas with all specificationsCommon Areas, amenities and facilities if any, of the project in place Project on [31.12.2023], unless there is a 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 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 the delivery of possession of the Plot. Provided, provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee agrees and confirms that, in the event it becomes become 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 the entire amount received by the Promoter from the allotment within 45 (forty-five) days from that date. The promoter Promoter shall intimate the allottee Allottee about such termination at least thirty (30) 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. 7.2 Procedure for taking possession - The Promoter, upon obtaining . It is clarified that all amounts collected as GST and deposited with the completion certificate from appropriate authorities concerned shall not be returned by the competent authority shall offer in writing the possession of the Plot, to Promoter and the Allottee in terms shall be free to approach the authorities concerned for refund of this Agreement to be taken within two months from the date of issue of completion certificate. That the Promotor shall execute registered sale-deed of the plot within three months from the date of the completion certificate in favour of the Allottee or his nominees. 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 copy of the completion certificate of the plot, to the allottee at the time of conveyance of the same. It may be understood that completion certificate is issued after the completion of the entire project by the competent authority and no completion certificate is issued for a single plot. That in case the allotee desires to take possession of the plot before issuance of the completion certificate and on payment of the entire amount the allotee may do so at his own risk as to its costs and consequences. It alsosuch GST.

Appears in 1 contract

Samples: Sub Lease Agreement

POSSESSION OF THE PLOT. APARTMENT/PLOT: 7.1 Schedule for possession of the said Plot- plot [Apartment/Plot] - The Promoter agrees and understands that timely delivery of possession of the Plot plot [Apartment/Plot] to the allottee and the common areas to the association of allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot plot [Apartment/Plot] along with ready and complete common areas with all specifications, amenities and facilities of the 1st Phase of the project in place on 15/10/2022, 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 Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the plot [Apartment/Plot], 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 the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee 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. 7.2 Procedure for taking possession - The Promoter, upon obtaining the completion certificate from the competent authority shall offer in writing the possession of the Plot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of completion certificate. That the Promotor shall execute registered sale-deed of the plot within three months from the date of the completion certificate in favour of the Allottee or his nominees. 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 copy of the completion certificate of the plot, to the allottee at the time of conveyance of the same. It may be understood that completion certificate is issued after the completion of the entire project by the competent authority and no completion certificate is issued for a single plot. That in case the allotee desires to take possession of the plot before issuance of the completion certificate and on payment of the entire amount the allotee may do so at his own risk as to its costs and consequences. It also

Appears in 1 contract

Samples: Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot- Plot - The Promoter agrees and understands that timely delivery of possession of the Plot plot to the allottee and the common areas to the association of allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on 31/12/2018, 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 Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plotplot, provided that such Force Majeure conditions are not of a nature, 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 the entire amount received by the Promoter from the allotment within 45 60 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. 7.2 Procedure for taking possession - The Promoter, upon obtaining the completion certificate occupancy certificate* from the competent authority shall offer in writing the possession of the Plotplot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of completion occupancy certificate. That [Provided that, in the Promotor shall execute registered sale-absence of local law, the conveyance deed in favour of the plot allottee shall be carried out by the promoter within three 3 months from the date of issue of occupancy certificate]. The Promoter agrees and undertakes to indemnify the completion certificate Allottee in favour case of failure of fulfilment of any of the Allottee or his nomineesprovisions, 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 copy of the completion occupancy certificate of the apartment/plot, as the case may be, to the allottee at the time of conveyance of the same. It may be understood that completion certificate is issued after the completion of the entire project by the competent authority and no completion certificate is issued for a single plot. That in case the allotee desires to take possession of the plot before issuance of the completion certificate and on payment of the entire amount the allotee may do so at his own risk as to its costs and consequences. It also.

Appears in 1 contract

Samples: Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot- saidPlot - The Promoter Vendor agrees and understands that understandsthat timely delivery of possession of the Plot to the allottee and the common areas to the association of allottees or the competent authority, as the case may be, is Plotis the essence of the Agreement. The Promoter Vendor, based on the approved plans and specifications assures to hand over possession of the Plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on unless or before 31.01.2022unless 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 Allottee Vendee agrees that the Promoter Vendor shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee Vendee agrees and confirms that, in the event it becomes impossible for the Promoter Vendor to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter Vendor shall refund to the Allottee Vendee the entire amount received by the Promoter Vendor from the allotment within 45 ninety days from that datethe date of termination of Allotment. The promoter Vendor shall intimate the allottee Vendee about such termination at least thirty days prior to such termination. .After refund of the money paid by the AllotteeVendee, the Allottee Vendee agrees that he/ he/she shall not have any rights, claims etc. against the Promoter Vendor and that the Promoter theVendor shall be released and discharged from all its obligations and liabilities under this Agreement. 7.2 Procedure for taking possession - of the Plot- The PromoterVendor, upon obtaining the occupancy certificate/ part completion certificate or completion certificate* from the competent authority shall authorityshall offer in writing the possession of the Plot, ,to the Allottee in Vendeein terms of this Agreement agreement to be taken within two months from the date of issue of completion certificate. That the Promotor shall execute registered sale-deed of the plot within three months from the date ofissue of such notice and the Vendor shall give possession of the completion certificate Plot to the Vendee. The Vendor agrees and undertakes to indemnify the Vendee in favour case of failure of fulfilment of any of the Allottee or his nomineesprovisions, formalities, documentation on part of the Vendor. The Allottee, after taking possession, agree(s) Vendee agrees to pay the maintenance charges as determined by the Promoterby the Vendor/association Association of allotteesVendees, as the case may be after be. The vendor on its behalf shall offer the issuance possession to the Vendee in writing within 30 days of receiving the occupancy certificate/ part completion certificate for or completion certificate* of the project. The promoter That the physical possession of the Plot shall be given to the Vendee by the Estate Manager/Project Incharge of the Project only after the Vendee provides original Possession Memo issued by the Vendor, authorizing the Estate Manager/Project Incharge to hand over the copy of the completion certificate of the plot, physical possession to the allottee at the time of conveyance of the sameVendee. It may be understood that completion certificate is issued The Vendor shall issue such Possession Memo only after the completion of Vendee has paid all the entire project dues, deposited and signed all the requisite documents. Provided that where the Vendor have applied for the occupation certificate by submitting the application and all other documents with the competent authority and no completion certificate is issued for a single plot. That neither any objection nor the occupation certificate* has been received from the authority within 3 (three) months of such application, the Vendor shall offer in case writing the allotee desires to take possession of the plot before issuance Plot to the Vendee as stated above. Provided that where the Vendor make the offer of possession of the completion certificate and on payment Plot to the Vendee but the Vendee fails to take the possession after completing all the formalitieswithin 30 (thirty) days of such offer, the entire amount Vendee shall be liable to pay the allotee may do so at his own risk maintenance charges as to its costs and consequences. It alsodescribed above after the expiry of thirty days from the date of such offer of possession.

Appears in 1 contract

Samples: Sale Agreement

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot- Plot – The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee Allottee and the common areas to the association of allottees Maintenance Society 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 Plot along with ready and complete common areas with all specifications, amenities and facilities of the project Project in place on 31.12.2025, 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 Allottee agrees that the Promoter shall be shallbe entitled to the extension of time for delivery of possession of the PlotthePlot, provided that such Force Majeure conditions are not of a nature, 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 Allottee(s) the entire amount received by the Promoter from the allotment Allottee with interest within 45 forty-five 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. 7.2 Procedure for taking possession - possession- The Promoter, upon obtaining the completion occupancy certificate from the competent authority shall offer in writing the possession of the Plot, to the Allottee Allottee(s) in terms of this Agreement to be taken within two 2 (two) months from the date of issue of completion occupancy certificate. That Provided that, in the Promotor shall execute registered sale-absence of local law, the conveyance deed in favor of the plot Allottee shall be carried out by the Promoter within three months from the date of the completion certificate in favour issue of the Allottee or his nomineesoccupancy certificate. 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 copy of the completion certificate of the plot, to the allottee at the time of conveyance of the same. It may be understood that completion certificate is issued after the completion of the entire project by the competent authority Promoter agrees and no completion certificate is issued for a single plot. That in case the allotee desires to take possession of the plot before issuance of the completion certificate and on payment of the entire amount the allotee may do so at his own risk as to its costs and consequences. It alsoundertakes to

Appears in 1 contract

Samples: Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot- Apartment of Plot – The Promoter Company agrees and understands that timely delivery of possession of the Apartment/ Plot to the allottee Allottee and the common areas to the association of allottees Maintenance Society or the competent authority, as the case may be, is the essence of the Agreement. The Promoter Company assures to hand over handover possession of the Apartment/ Plot along with ready and complete common areas with all specifications, amenities and facilities of the project Project in place on or before 30/09/2023, 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 Allottee agrees that the Promoter Company shall be entitled to the extension of time for delivery of possession of the Apartment/ Plot, provided that such Force Majeure conditions are not of a nature, 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 Company to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee Allottee(s) the entire amount received by the Promoter Company from the allotment Allottee with interest within 45 forty-five days from that date. The promoter Company 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 Company and that the Promoter Company shall be released and discharged from all its obligations and liabilities under this Agreement. 7.2 Procedure for taking possession - possession- The PromoterCompany, upon obtaining the completion occupancy certificate from the competent authority shall offer in writing the possession of the Apartment/ Plot, to the Allottee Allottee(s) in terms of this Agreement to be taken within two 2 (two) months from the date of issue of completion occupancy certificate. That Provided that, in the Promotor shall execute registered sale-absence of local law, the conveyance deed in favor of the plot Allottee shall be carried out by the Company within three months from the date of issue of occupancy certificate. The Company agrees and undertakes to indemnify the completion certificate Allottee(s) in favour case of failure of fulfillment of any of the Allottee or his nomineesprovisions, formalities, documentation on part of the Company. The AllotteeAllottee(s), after taking possession, agree(s) to pay the maintenance charges as determined by the Promoter/association of allotteesCompany / Maintenance Society, as the case may be be, after the issuance of the completion certificate for the projectProject. The promoter Company shall hand over handover the copy of the completion occupancy certificate of the plotApartment/ Plot, as the case may be, to the allottee Allottee at the time of conveyance of the same. It may be understood that completion certificate is issued after the completion of the entire project by the competent authority and no completion certificate is issued for a single plot. That in case the allotee desires to take possession of the plot before issuance of the completion certificate and on payment of the entire amount the allotee may do so at his own risk as to its costs and consequences. It also.

Appears in 1 contract

Samples: Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot- Plot: The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee Allottee(s) and the common areas to the association of allottees or the competent authority, as the case may be, as provided under Rule 2(1)(f) of Rules, 2017, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas with all specificationswithin period of twenty four months from date of execution of this agreement plus grace period of 6 months, amenities and facilities of the project in place on unless there is delay or failure due to war“force majeure”, floodCourt orders, droughtGovernment policy/ guidelines, fire, cyclone, earthquake or any other calamity caused by nature decisions affecting the regular development of the real estate project (“Force Majeure”)project. If, however, the completion of the Project is delayed due to the Force Majeure conditions above conditions, then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, 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 and above mentioned conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee Allottee, the entire amount received by the Promoter from the allotment allottee within 45 days from that dateninety days. 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. 7.2 (A) Procedure for taking possession of Plot - The Promoter, upon obtaining the approved demarcation-cum-zoning plan/ provision of services by the promoter, duly certifying/ part completion certificate from certificate, as the competent authority case may be, in respect of plotted colony shall offer in writing the possession of the Plot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of completion certificate. That the Promotor shall execute registered sale-deed of the plot within three months from the date of above, to the Allottee(s) as per terms of this Agreement. 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 promoter shall provide a copy (on demand) of approved demarcation-cum-zoning plan/ provision of services by the colonizer/ part completion certificate in favour respect of plotted development at the time of conveyance of the Allottee or his nomineessame. The AllotteeAllottee(s), after taking possession, agree(s) to pay the maintenance charges and holding 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 copy of the completion certificate of the plot, to the allottee at the time of conveyance of the same. It may be understood that completion certificate is issued after the completion of the entire project by the competent authority and no completion certificate is issued for a single plot. That in case the allotee desires to take possession of the plot before issuance of the completion certificate and on payment of the entire amount the allotee may do so at his own risk as to its costs and consequences. It also.

Appears in 1 contract

Samples: Buyer’s Agreement

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot- plot - The Promoter agrees and understands that timely delivery of possession of the Plot theplot to the allottee and the common areas to the association of allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on 30/06/2018, 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 Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plotplot, 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 the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee 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. 7.2 Procedure for taking possession - The Promoter, upon obtaining full payment of the plot from the Allottee and the completion certificate from the competent authority shall offer in writing the possession of the Plotplot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of completion certificate. That [Provided that, in the Promotor shall execute registered sale-absence of local law, the conveyance deed in favour of the plot allottee shall be carried out by the promoter within three 3 months from the date of issue of completion certificate]. The Promoter agrees and undertakes to indemnify the completion certificate Allottee in favour case of failure of fulfillment of any of the Allottee or his nomineesprovisions, 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 projectproject or from 30/6/2018 onwards, whichever is earlier. The promoter shall hand over the copy of the completion certificate of the plot, as the case may be, to the allottee at the time of conveyance of the same. It may That it shall be understood that completion certificate is issued after mandatory for the completion Allottee to become a member of the entire project by residents society, at the competent authority and no completion certificate is issued for a single plot. That in case the allotee desires to take time of possession of the plot before issuance said property, which shall be responsible for all maintenance and security provision of the completion certificate and on payment of the entire amount the allotee premises as may do so at his own risk as to its costs and consequences. It alsobe mutually decided later.

Appears in 1 contract

Samples: Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot- Apartment of Plot – The Promoter Company agrees and understands that timely delivery of possession of the Apartment/ Plot to the allottee Allottee and the common areas to the association of allottees Maintenance Society or the competent authority, as the case may be, is the essence of the Agreement. The Promoter Company assures to hand over handover possession of the Apartment/ Plot along with ready and complete common areas with all specifications, amenities and facilities of the project Project in place on or before 31/03/2024, 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 Allottee agrees that the Promoter Company shall be entitled to the extension of time for delivery of possession of the Apartment/ Plot, provided that such Force Majeure conditions are not of a nature, 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 Company to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee Allottee(s) the entire amount received by the Promoter Company from the allotment Allottee with interest within 45 forty-five days from that date. The promoter Company 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 Company and that the Promoter Company shall be released and discharged from all its obligations and liabilities under this Agreement. 7.2 Procedure for taking possession - possession- The PromoterCompany, upon obtaining the completion occupancy certificate from the competent authority shall offer in writing the possession of the Apartment/ Plot, to the Allottee Allottee(s) in terms of this Agreement to be taken within two 2 (two) months from the date of issue of completion occupancy certificate. That Provided that, in the Promotor shall execute registered sale-absence of local law, the conveyance deed in favor of the plot Allottee shall be carried out by the Company within three months from the date of issue of occupancy certificate. The Company agrees and undertakes to indemnify the completion certificate Allottee(s) in favour case of failure of fulfillment of any of the Allottee or his nomineesprovisions, formalities, documentation on part of the Company. The AllotteeAllottee(s), after taking possession, agree(s) to pay the maintenance charges as determined by the Promoter/association of allotteesCompany / Maintenance Society, as the case may be be, after the issuance of the completion certificate for the projectProject. The promoter Company shall hand over handover the copy of the completion occupancy certificate of the plotApartment/ Plot, as the case may be, to the allottee Allottee at the time of conveyance of the same. It may be understood that completion certificate is issued after the completion of the entire project by the competent authority and no completion certificate is issued for a single plot. That in case the allotee desires to take possession of the plot before issuance of the completion certificate and on payment of the entire amount the allotee may do so at his own risk as to its costs and consequences. It also.

Appears in 1 contract

Samples: Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot- Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee and the common areas to the association of allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas with all specificationsspecification s, 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 calamity caused by nature affecting the regular development of the real estate project (“Force Majeure”). If, proj 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/Plot], 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 Majeur e conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee 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. 7.2 Procedure for taking possession - The Promoter, upon obtaining the completion occupancy certificate* /completion certificate from the competent authority shall offer in writing the possession of the Plot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of completion occupancy certificate. That [Provided that, in the Promotor shall execute registered sale-absence of local law, the conveyance deed in favour of the plot allottee shall be carried out by the promoter within three 3 months from the date of issue of occupancy certificate /completion certificate ]. The Promoter agrees and undertakes to indemnify the completion certificate Allottee in favour case of failure of fulfilment of any of the Allottee or his nomineesprovisions, 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 copy of the completion occupan cy certificate of the apartment/plot, as the case may be, to the allottee at the time of conveyance of the same. It may be understood that completion The Completion Certificate shall mean the Completion certificate is issued after the completion in favour of the entire project by Promoter under the competent authority and no completion certificate is issued for a single plot. That in case the allotee desires to take possession provisions of the plot before issuance Madhya Pradesh M. P. Nagar Palika (Registration of Colonisers, Terms & Conditions) Rules 1998 , with respect to the completion certificate Projects falling under the Municipal Corporation, Municiplaties or Nagar Panchayat Areas and on payment M.P. Gram Panchyat (Registration of Colonsers, Terms & Conditions) Rules 1999, with respect to the entire amount Porjects xxxxxx under the allotee may do so at his own risk as to its costs and consequences. It alsoVillage Panchayat areas.

Appears in 1 contract

Samples: Agreement for Sale (Plots)

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot- Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee and the common areas to the association of allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas with all specifications, amenities and an d facilities of the project in place on , 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 Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the [Apartment/Plot], provided that such Force F orce 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 the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee 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. 7.2 Procedure for taking possession - The Promoter, upon obtaining the completion occupancy certificate* /completion certificate from the competent authority shall offer in writing the possession of the Plot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of completion occupancy certificate. That [Provided that, in the Promotor shall execute registered sale-absence of local law, the conveyance deed in favour of the plot allottee shall be carried out by the promoter within three 3 months from the date of issue of occupancy certificate /completion certificate ]. The Promoter agrees and undertakes to indemnify the completion certificate Allottee in favour case of failure of fulfilment of any of the Allottee or his nomineesprovisions, 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 copy of the completion occupancy certificate of the apartment/plot, as the case may be, to the allottee at the time of conveyance of the same. It may be understood that completion The Completion Certificate shall mean the Completion certificate is issued after the completion in favour of the entire project by Promoter under the competent authority and no completion certificate is issued for a single plot. That in case the allotee desires to take possession provisions of the plot before issuance Madhya Pradesh M.P. Nagar Palika (Registration of Colonisers, Terms & Conditions) Rules 1998 , with respect to the completion certificate Projects falling under the Municipal Corporation, Municiplaties or Nagar Panchayat Areas and on payment M.P. Gram Panchyat (Registration of Colonsers, Terms & Conditions) Rules 1999, wi th respect to the entire amount Porjects xxxxxx under the allotee may do so at his own risk as to its costs and consequences. It alsoVillage Panchayat areas.

Appears in 1 contract

Samples: Agreement for Sale (Plots)

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot- Plot] - The Promoter agrees and understands that timely delivery of possession of the Plot developed Plot, in the developed colony, to the allottee and the common areas to the association of allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas with all specificationsdeveloped colony (Park, amenities and facilities Road, Drain, Sewer, Septic Tank, Electrification etc.) of the project in place on (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 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 Plot, provided that such Force Majeure conditions are not of a nature, 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 the entire amount received by the Promoter from the allotment within 45 60 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. 7.2 Procedure for taking possession - The Promoter, upon obtaining the completion certificate from the competent authority shall offer in writing the possession of the Plot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of completion certificate. That the Promotor shall execute registered sale-deed of the plot within three months from the date of the completion certificate in favour of the Allottee or his nominees. 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 copy of the completion certificate of the plot, to the allottee at the time of conveyance of the same. It may be understood that completion certificate is issued after the completion of the entire project by the competent authority and no completion certificate is issued for a single plot. That in case the allotee desires to take possession of the plot before issuance of the completion certificate and on payment of the entire amount the allotee may do so at his own risk as to its costs and consequences. It also

Appears in 1 contract

Samples: Sale Agreement

POSSESSION OF THE PLOT. UNIT/APARTMENT FOR RESIDENTIAL/ COMMERCIAL/INDUSTRIAL/IT/ANY OTHER USAGE (AS THE CASE MAY BE): 7.1 Schedule for possession of the said Plot- Plot/ Unit/Apartment for Residential/Commercial/ Industrial/IT/any other usage - The Promoter agrees and understands that timely delivery of possession of the Plot Plot/Unit/Apartment for Residential/Commercial/ Industrial/IT/any other usage (as the case may be) alongwith parking (if applicable) to the allottee Allottee(s) and the common areas to the association of allottees or the competent authority, as the case may be, as provided under Rule 2(1)(f) of Rules, 2017, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready Plot/ Unit/Apartment for Residential/Commercial/Industrial/IT/any other usage (as the case may be) alongwith parking (if applicable) as per agreed terms and complete common areas with all specifications, amenities and facilities of the project in place on conditions unless there is delay or failure due to war“force majeure”, floodCourt orders, droughtGovernment policy/guidelines, fire, cyclone, earthquake or any other calamity caused by nature decisions affecting the regular development of the real estate project (“Force Majeure”)project. If, however, the completion of the Project is delayed due to the Force Majeure conditions above conditions, then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, which make it impossible /Unit/Apartment for Residential/Commercial/Industrial/IT/any other usage (as the contract to be implementedcase may be). The Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the project due to Force Majeure and above mentioned conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee Allottee, the entire amount received by the Promoter from the allotment allottee within 45 days from that dateninety days. 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/ 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. 7.2 Procedure for taking possession - The Promoter, upon obtaining the completion certificate from the competent authority shall offer in writing the possession of the Plot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of completion certificate. That the Promotor shall execute registered sale-deed of the plot within three months from the date of the completion certificate in favour of the Allottee or his nominees. 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 copy of the completion certificate of the plot, to the allottee at the time of conveyance of the same. It may be understood that completion certificate is issued after the completion of the entire project by the competent authority and no completion certificate is issued for a single plot. That in case the allotee desires to take possession of the plot before issuance of the completion certificate and on payment of the entire amount the allotee may do so at his own risk as to its costs and consequences. It also

Appears in 1 contract

Samples: Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot- Plot – The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee and the common areas to the association of allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot Plot] 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 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 Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot], 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 the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee 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. 7.2 Procedure for taking possession - The Promoter, upon obtaining the completion certificate certificate* from the competent authority shall offer in writing the possession of the Plot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of completion certificate. That [Provided that, in the Promotor shall execute registered sale-absence of local law, the conveyance deed in favour of the plot allottee shall be carried out by the promoter within three 3 months from the date of issue of occupancy certificate]. The Promoter agrees and undertakes to indemnify the completion certificate Allottee in favour case of failure of fulfillment of any of the Allottee or his nomineesprovisions, 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 copy of the completion certificate of the plot/plot, as the case may be, to the allottee at the time of conveyance of the same. It may be understood that completion certificate is issued after the completion of the entire project by the competent authority and no completion certificate is issued for a single plot. That in case the allotee desires to take possession of the plot before issuance of the completion certificate and on payment of the entire amount the allotee may do so at his own risk as to its costs and consequences. It also.

Appears in 1 contract

Samples: Agreement for Sale

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POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot- Plot - The Promoter agrees and understands that timely delivery of possession of the Plot plot to the allottee and the common areas to the association of allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on 31-07-2018, 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 Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plotplot, provided that such Force Majeure conditions are not of a nature, 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 the entire amount received by the Promoter from the allotment within 45 60 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. 7.2 Procedure for taking possession - The Promoter, upon obtaining the completion certificate occupancy certificate* from the competent authority shall offer in writing the possession of the Plotplot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of completion occupancy certificate. That [Provided that, in the Promotor shall execute registered sale-absence of local law, the conveyance deed in favour of the plot allottee shall be carried out by the promoter within three 3 months from the date of issue of occupancy certificate]. The Promoter agrees and undertakes to indemnify the completion certificate Allottee in favour case of failure of fulfilment of any of the Allottee or his nomineesprovisions, 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 copy of the completion occupancy certificate of the apartment/plot, as the case may be, to the allottee at the time of conveyance of the same. It may be understood that completion certificate is issued after the completion of the entire project by the competent authority and no completion certificate is issued for a single plot. That in case the allotee desires to take possession of the plot before issuance of the completion certificate and on payment of the entire amount the allotee may do so at his own risk as to its costs and consequences. It also.

Appears in 1 contract

Samples: Sale Agreement

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot- Plot - The Promoter agrees and understands that timely delivery of possession of the Plot along with right to use of general common areas and limited common areas as specified in Para C above to the allottee Allottee(s) and the common areas to the association of allottees or the competent authority, as the case may be, as provided under Rule 2(1)(f) of Rules, 2017, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete right to use of General common areas with all specifications, amenities and facilities of the project limited common areas as specified in place on Para C above as per agreed terms and conditions unless there is delay or failure due to war“force majeure”, floodCourt orders, droughtGovernment policy/ guidelines, firedecisions, cyclone, earthquake etc. or any other calamity caused by nature reasons whatsoever affecting the regular development of the real estate project (“Force Majeure”)project. If, however, the completion of the Project is delayed due to the Force Majeure conditions above conditions, then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, 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 and the promoter abandons the project due to Force Majeure and above mentioned conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee Allottee, the entire amount received by the Promoter from the allotment allottee within 45 days from that dateninety days. 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. 7.2 Procedure for taking possession of Plot - The Promoter, upon obtaining the completion certificate from or part thereof of the competent authority said colony shall offer in writing the possession of the Plot, to the Allottee in Allottee(s) as per terms of this Agreement Agreement. The Promoter agrees and undertakes to be taken within two months from indemnify the date Allottee in case of issue failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The promoter shall provide copy (on demand) of completion certificate. That the Promotor shall execute registered sale-deed certificate or part thereof in respect of the plot within three months from said colony at the date time of conveyance of the completion certificate in favour of the Allottee or his nomineessame. The AllotteeAllottee(s), after taking possession, agree(s) to pay the maintenance charges and holding charges as determined by the Promoter/Promoter/ association of allotteesallottees/ competent authority, as the case may be after be. 7.3 Failure of Allottee to take Plot- Upon receiving a written intimation from the issuance of Promoter as per para 7.2, the completion certificate for the project. The promoter Allottee shall hand over the copy of the completion certificate of the plot, to the allottee at the time of conveyance of the same. It may be understood that completion certificate is issued after the completion of the entire project by the competent authority and no completion certificate is issued for a single plot. That in case the allotee desires to take possession of the plot before issuance Plot from the Promoter by executing necessary indemnities, undertakings and such other documentation, and the Promoter shall give possession of the completion certificate Plot to the allottee as per terms and on payment condition of the entire amount agreement within the allotee due date as may do so at his own risk be provided in such notice/ intimation. In case the Allottee fails to comply with the essential documentation, undertaking, etc. or fails to take possession within the time provided in para 7.2, such Allottee shall continue to be liable to pay maintenance charges and holding charges as to its costs and consequences. It alsospecified in para 7.2.

Appears in 1 contract

Samples: Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot- Plot: The Promoter agrees and understands that timely delivery of the possession of the Plot to the allottee Allottee and the common areas Common Areas of the Project to the association Notified Agency and the Shared Common Facilities/Township Level Common Facilities consisting of allottees or basic infrastructure facilities of the competent authorityTownship like driveways, Roads, Street lighting, Power Supply and Distribution System and other facilities as described in the case may beDPR to the agency(ies) notified by the Lessor, i.e. the Notified Agency is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas with all specificationsCommon Areas, amenities and facilities if any, of the project in place Project on 31 December 2023, unless there is a 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 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 the delivery of possession of the Plot. Provided, provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee agrees and confirms that, in the event it becomes become 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 the entire amount received by the Promoter from the allotment within 45 (forty-five) days from that date. The promoter Promoter shall intimate the allottee Allottee about such termination at least thirty (30) 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. 7.2 Procedure for taking possession - The Promoter, upon obtaining . It is clarified that all amounts collected as GST and deposited with the completion certificate from appropriate authorities concerned shall not be returned by the competent authority shall offer in writing the possession of the Plot, to Promoter and the Allottee in terms shall be free to approach the authorities concerned for refund of this Agreement to be taken within two months from the date of issue of completion certificate. That the Promotor shall execute registered sale-deed of the plot within three months from the date of the completion certificate in favour of the Allottee or his nominees. 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 copy of the completion certificate of the plot, to the allottee at the time of conveyance of the same. It may be understood that completion certificate is issued after the completion of the entire project by the competent authority and no completion certificate is issued for a single plot. That in case the allotee desires to take possession of the plot before issuance of the completion certificate and on payment of the entire amount the allotee may do so at his own risk as to its costs and consequences. It alsosuch GST.

Appears in 1 contract

Samples: Sub Lease Agreement

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot- Plot - The Promoter agrees and understands that timely delivery of possession of the Plot plot to the allottee and the common areas to the association of allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on 31-12-2018, 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 Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plotplot, provided that such Force Majeure conditions are not of a nature, 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 the entire amount received by the Promoter from the allotment within 45 60 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. 7.2 Procedure for taking possession - The Promoter, upon obtaining the completion certificate occupancy certificate* from the competent authority shall offer in writing the possession of the Plotplot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of completion occupancy certificate. That [Provided that, in the Promotor shall execute registered sale-absence of local law, the conveyance deed in favour of the plot allottee shall be carried out by the promoter within three 3 months from the date of issue of occupancy certificate]. The Promoter agrees and undertakes to indemnify the completion certificate Allottee in favour case of failure of fulfilment of any of the Allottee or his nomineesprovisions, 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 copy of the completion occupancy certificate of the apartment/plot, as the case may be, to the allottee at the time of conveyance of the same. It may be understood that completion certificate is issued after the completion of the entire project by the competent authority and no completion certificate is issued for a single plot. That in case the allotee desires to take possession of the plot before issuance of the completion certificate and on payment of the entire amount the allotee may do so at his own risk as to its costs and consequences. It also.

Appears in 1 contract

Samples: Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot- plot- The Promoter agrees and understands that timely delivery of possession of the Plot plot to the allottee Allottee and the common areas to the association of allottees Allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot plot 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 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 Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot, 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 the entire amount received by the Promoter from the allotment 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/ 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. 7.2 Procedure for taking possession - The Promoter, upon obtaining the completion certificate occupancy certificate* from the competent authority shall offer in writing the possession of the Plotplot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of completion occupancy certificate. That [Provided that, in the Promotor shall execute registered sale-absence of local law, the conveyance deed in favour of the plot Allottee shall be carried out by the promoter within three 3 months from the date of issue of occupancy certificate]. The Promoter agrees and undertakes to indemnify the completion certificate Allottee in favour case of failure of fulfilment of any of the Allottee or his nomineesprovisions, 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 allotteesAllottees, as the case may be after the issuance of the completion certificate for the project. The promoter shall hand over the copy of the completion occupancy certificate of the apartment/plot, as the case may be, to the allottee Allottee at the time of conveyance of the same. It may be understood that completion certificate is issued after the completion of the entire project by the competent authority and no completion certificate is issued for a single plot. That in case the allotee desires to take possession of the plot before issuance of the completion certificate and on payment of the entire amount the allotee may do so at his own risk as to its costs and consequences. It also.

Appears in 1 contract

Samples: Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot- Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee and the common areas to the association of allottees or the competent authorityaut hority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot 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 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 Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the [Apartment/Plot], 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 the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee 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. 7.2 Procedure for taking possession - The Promoter, upon obtaining the completion occupancy certificate* /completion certificate from the competent authority shall offer in writing the possession of the Plot, to the Allottee in terms of this Agreement to be taken within two months fro m the date of issue of occupancy certificate. [Provided that, in the 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 certificateoccupancy certificate /completion certifi cate ]. That The Promoter agrees and undertakes to indemnify the Promotor shall execute registered sale-deed Allottee in case of failure of fulfilment of any of the plot within three months from the date provisions, formalities, documentation on part of the completion certificate in favour of the Allottee or his nomineesPromoter. The Allottee, after taking possession, agree(s) to pay the maintenance charges charge s 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 copy of the completion occupancy certificate of the apartment/plot, as the case may be, to the allottee at the time of conveyance of the same. It may be understood that completion The Completion Certificate shall mean the Completion certificate is issued after the completion in favour of the entire project by Promoter under the competent authority and no completion certificate is issued for a single plot. That in case the allotee desires to take possession provisions of the plot before issuance Madhya Pradesh M.P. Nagar Palika (Registration of Colonisers, Terms & Conditions) Rules 19 98, with respect to the completion certificate Projects falling under the Municipal Corporation, Municiplaties or Nagar Panchayat Areas and on payment M.P. Gram Panchyat (Registration of Colonsers, Terms & Conditions) Rules 1999, with respect to the entire amount Porjects xxxxxx under the allotee may do so at his own risk as to its costs and consequences. It alsoVillage Panch ayat areas.

Appears in 1 contract

Samples: Agreement for Sale (Plots)

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot- plot - The Promoter agrees and understands that timely delivery of possession of the Plot plot to the allottee Allottee and the common areas to the association of allottees Allottee or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot plot 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 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 Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plotplot, 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 the entire amount received by the Promoter from the allotment 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/ 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. 7.2 Procedure for taking possession - The Promoter, upon obtaining the completion certificate full payment of the plot from the competent authority Allottee shall offer in writing the possession of the Plot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of completion certificate. That the Promotor shall execute registered sale-deed registration of the plot within three months from plot. The Promoter agrees and undertakes to indemnify the date Allottee in case of failure of fulfillment of any of the completion certificate in favour provisions, formalities, documentation on part of the Allottee or his nomineesPromoter. The Allottee, after taking possession, agree(s) agrees to pay the maintenance charges as determined by the Promoter/association Promoter /association of allotteesAllottees, as the case may be after the issuance of the completion certificate for the projectproject or up to ………………, whichever is earlier. The promoter That it shall hand over be mandatory for the copy Allottee to become a member of the completion certificate of the plot“SAGE GOLDEN SPRING PHASE - II & IV” maintenance society, to the allottee at the time of conveyance possession of the same. It may said property, which shall be understood that completion certificate is issued after formed by the completion residents of “SAGE GOLDEN SPRING PHASE - II & IV” and which shall be responsible for all maintenance and security provision of the entire project by “SAGE GOLDEN SPRING PHASE – II & IV ” upto ……………………. 7.3 Failure of Allottee to take Possession of plot - Upon receiving a written intimation from the competent authority and no completion certificate is issued for a single plot. That in case Promoter as per Para 7.2, the allotee desires to Allottee shall take possession of the plot before issuance 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 completion certificate plot to the Allottee. In case the Allottee fails to take possession within the time provided in para 7.2, such Allottee shall continue to be liable to pay maintenance charges as specified in para 7.2. 7.4 Possession by the Allottee – After obtaining the occupancy certificate/till …............ whichever is earlier and on payment handing over physical possession of the entire amount plot to the allotee 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 do so at his own risk be, as to its costs and consequences. It alsoper the local laws.

Appears in 1 contract

Samples: Agreement for Sale (Without Possession)

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot- Plot - The Promoter Vendor agrees and understands that timely delivery of possession of the Plot to the allottee and the common areas to the association of allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter Vendor, based on the approved plans and specifications assures to hand over possession of the Plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on or before 31.12.2019 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 Allottee Vendee agrees that the Promoter Vendor shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee Vendee agrees and confirms that, in the event it becomes impossible for the Promoter Vendor to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter Vendor shall refund to the Allottee Vendee the entire amount received by the Promoter Vendor from the allotment within 45 ninety days from that datethe date of termination of Allotment. The promoter Vendor shall intimate the allottee Vendee about such termination at least thirty days prior to such termination. After refund of the money paid by the AllotteeVendee, the Allottee Vendee agrees that he/ 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. 7.2 Procedure for taking possession of the Plot - The PromoterVendor, upon obtaining the occupancy certificate/ part completion certificate or completion certificate* from the competent authority shall offer in writing the possession of the Plot, to the Allottee Vendee in terms of this Agreement agreement to be taken within two three months from the date of issue of completion certificate. That such notice and the Promotor Vendor shall execute registered sale-deed give possession of the plot within three months from Plot to the date Vendee. The Vendor agrees and undertakes to indemnify the Vendee in case of failure of fulfilment of any of the completion certificate in favour provisions, formalities, documentation on part of the Allottee or his nomineesVendor. The Allottee, after taking possession, agree(s) Vendee agrees to pay the maintenance charges as determined by the Promoterby the Vendor/association Association of allotteesVendees, as the case may be after be. The vendor on its behalf shall offer the issuance possession to the Vendee in writing within 30 days of receiving the occupancy certificate/ part completion certificate for or completion certificate* of the project. The promoter That the physical possession of the Plot shall be given to the Vendee by the Estate Manager/Project Incharge of the Project only after the Vendee provides original Possession Memo issued by the Vendor, authorizing the Estate Manager/Project Incharge to hand over the copy of the completion certificate of the plot, physical possession to the allottee at the time of conveyance of the sameVendee. It may be understood that completion certificate is issued The Vendor shall issue such Possession Memo only after the completion of Vendee has paid all the entire project dues, deposited and signed all the requisite documents. Provided that where the Vendor have applied for the occupation certificate by submitting the application and all other documents with the competent authority and no completion certificate is issued for a single plot. That neither any objection nor the occupation certificate* has been received from the authority within 3 (three) months of such application, the Vendor shall offer in case writing the allotee desires to take possession of the plot before issuance Plot to the Vendee as stated above. Provided that where the Vendor make the offer of possession of the completion certificate and on payment Plot to the Vendee but the Vendee fails to take the possession after completing all the formalities within 30 (thirty) days of such offer, the entire amount Vendee shall be liable to pay the allotee may do so at his own risk maintenance charges as to its costs and consequences. It alsodescribed above after the expiry of thirty days from the date of such offer of possession.

Appears in 1 contract

Samples: Sale Agreement

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot- Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee and the common areas to the association of allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with proportionately 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 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 Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the [Apartment/Plot], 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 the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee 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. 7.2 Procedure for taking possession - The Promoter, upon obtaining applying for the completion occupancy certificate*/completion certificate from the competent authority shall offer in writing the possession of the Plot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of completion occupancy certificate. That [Provided that, in the Promotor shall execute registered sale-absence of local law, the conveyance deed in favour of the plot allottee shall be carried out by the promoter within three 3 months from the date of issue of occupancy certificate/completion certificate]. The Promoter agrees and undertakes to indemnify the completion certificate Allottee in favour case of failure of fulfilment of any of the Allottee or his nomineesprovisions, 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 copy of the completion occupancy certificate of the apartment/plot, as the case may be, to the allottee at the time of conveyance of the same. It may be understood that completion The Completion Certificate shall mean the Completion certificate is issued after the completion in favour of the entire project by Promoter under the competent authority and no completion certificate is issued for a single plot. That in case the allotee desires to take possession provisions of the plot before issuance Madhya Pradesh M.P. Nagar Palika (Registration of Colonisers, Terms & Conditions) Rules 1998, with respect to the completion certificate Projects falling under the Municipal Corporation, Municiplaties or Nagar Panchayat Areas and on payment M.P. Gram Panchyat (Registration of Colonsers, Terms & Conditions) Rules 1999, with respect to the entire amount Projects xxxxxx under the allotee may do so at his own risk as to its costs and consequences. It alsoVillage Panchayat areas.

Appears in 1 contract

Samples: Agreement for Sale

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot- The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee and the common areas to the association of allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter Promoter, based on the approved plans and specifications, assures to hand over possession of the Plot along with ready and complete common areas with all specifications, amenities and facilities on or before the date of completion of the project in place on as disclosed to Authority at the time of registration of Project or such extended period as may be intimated and approved by Authority from time to time, unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake earthquake, strikes, lock-outs, action of labour unions, court cases/ decree/ stay, change of law, directions/ notifications of competent authority/ courts/ tribunals resulting in suspension of/ delay in execution of works, delay in issuance of approvals by Competent Authorities or any other causes (whether similar or dissimilar to the foregoing), shortage of energy, labour, equipment, facilities, materials or supplies, failure of transportation, or any other calamity caused by nature which are beyond the control of the Promoter 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 Plot, provided that such Force Majeure conditions are not of a nature, 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 the entire amount received by the Promoter from the allotment within 45 ninety days from that date. The promoter shall intimate the allottee about such date of termination at least thirty days prior to such terminationof allotment. 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. 7.2 Procedure for taking possession - The Promoter, upon obtaining the completion certificate from the competent authority shall offer in writing the possession of the Plot, to the Allottee in terms of this Agreement to be taken within two months from the date of issue of completion certificate. That the Promotor shall execute registered sale-deed of the plot within three months from the date of the completion certificate in favour of the Allottee or his nominees. 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 copy of the completion certificate of the plot, to the allottee at the time of conveyance of the same. It may be understood that completion certificate is issued after the completion of the entire project by the competent authority and no completion certificate is issued for a single plot. That in case the allotee desires to take possession of the plot before issuance of the completion certificate and on payment of the entire amount the allotee may do so at his own risk as to its costs and consequences. It also

Appears in 1 contract

Samples: Sale Agreement

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot- Apartment of Plot – The Promoter LLP agrees and understands that timely delivery of possession of the Apartment/ Plot to the allottee Allottee and the common areas to the association of allottees Maintenance Society or the competent authority, as the case may be, is the essence of the Agreement. The Promoter LLP assures to hand over handover possession of the Apartment/ Plot along with ready and complete common areas with all specifications, amenities and facilities of the project Project in place on or before 30/09/2023, 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 Allottee agrees that the Promoter LLP shall be entitled to the extension of time for delivery of possession of the Apartment/ Plot, provided that such Force Majeure conditions are not of a nature, 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 LLP to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee Allottee(s) the entire amount received by the Promoter LLP from the allotment Allottee with interest within 45 forty-five days from that date. The promoter LLP 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 LLP and that the Promoter LLP shall be released and discharged from all its obligations and liabilities under this Agreement. 7.2 Procedure for taking possession - possession- The PromoterLLP, upon obtaining the completion occupancy certificate from the competent authority shall offer in writing the possession of the Apartment/ Plot, to the Allottee Allottee(s) in terms of this Agreement to be taken within two 2 (two) months from the date of issue of completion occupancy certificate. That Provided that, in the Promotor shall execute registered sale-absence of local law, the conveyance deed in favor of the plot Allottee shall be carried out by the LLP within three months from the date of issue of occupancy certificate. The LLP agrees and undertakes to indemnify the completion certificate Allottee(s) in favour case of failure of fulfillment of any of the Allottee or his nomineesprovisions, formalities, documentation on part of the LLP. The AllotteeAllottee(s), after taking possession, agree(s) to pay the maintenance charges as determined by the Promoter/association of allotteesLLP / Maintenance Society, as the case may be be, after the issuance of the completion certificate for the projectProject. The promoter LLP shall hand over handover the copy of the completion occupancy certificate of the plotApartment/ Plot, as the case may be, to the allottee Allottee at the time of conveyance of the same. It may be understood that completion certificate is issued after the completion of the entire project by the competent authority and no completion certificate is issued for a single plot. That in case the allotee desires to take possession of the plot before issuance of the completion certificate and on payment of the entire amount the allotee may do so at his own risk as to its costs and consequences. It also.

Appears in 1 contract

Samples: Agreement for Sale

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