POSSESSION OF THE SAID APARTMENT. 7.1 Schedule for possession of the Said Apartment- The Promoter agrees and understands that timely delivery of possession of the Said Apartment to the Allottee and the Common Areas to the association of 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 Said Apartment along with ready and complete Common Areas with all specifications, amenities and facilities of the Said Complex in place on or before December 2023 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, insurrection, civil unrest, any rule or notification of the Government or any other public authority or any Act of the Government such as change in legislation or enactment of new law, restrictive Governmental laws or regulations ("Force Majeure"). If, however, the completion of the Said Complex 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 Said Apartment. Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the Said Complex 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 Allottee (after deduction of any statutory charges payable to any authority for the time being in force) within 45 (Forty Five) days from that termination/cancellation date. The Promoter shall intimate the Allottee about such termination at least 30 (thirty) days prior to such termination. After refund of the money paid by the Allottee, the Allottee agrees that he/she/they shall not have any right, claims etc. against the Promoter and that the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. The Possession Date has been agreed and accepted by the Allottee. However, if the Said Apartment is made ready prior to the Completion Date, the Allottee undertakes(s) and covenant(s) not to make or raise any objection to the consequent preponement of his/her payment obligations, having clearly agreed and understood that the payment obligations of the Allottee are linked inter alia to the progress of construction. 7.2 Procedure for taking possession - The Promoter, upon obtaining the occupancy certificate/completion certificate from the competent authority or upon completion of construction of the Said Complex as per the Specifications hereunder written shall offer in writing the possession of the Said Apartment, to the Allottee in terms of this Agreement to be taken within 15 (fifteen) days from the date of issue of occupancy certificate/completion certificate or such completion of the construction of the Said Complex. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee, after taking possession, agree(s) to pay the maintenance charges as determined by the Promoter/association of Allottees, as the case may be and continue to pay the same even after the issuance of the completion certificate for the Said Complex. The Promoter shall hand over copy of the occupancy certificate/completion certificate of the Said Apartment, to the Allottee/Association at the time of handover of the Said Apartment.
Appears in 2 contracts
Samples: Agreement for Sale, Sale Agreement
POSSESSION OF THE SAID APARTMENT. 7.1 Schedule for possession of the Said Apartment- said Apartment:- The Promoter agrees and understands that timely delivery of possession of the Said said Apartment to the Allottee and the Common Areas to the association of Allottee or the competent authority, as the case may be, is the essence of the Agreement. The Promoter Agreement subject to full payment and compliance by the Allottee under this Agreement including as mentioned in Clause 7.1A below as also subject to Force Majeure and reasons beyond control the Promoter, based on the approved plans and specifications, assures to hand over possession of the Said said Apartment along with ready and complete Common Areas with all specifications, amenities and facilities of the Said Complex in place on or before December 2023 unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake earthquake, epidemic, pandemic, lockdown, governmental restrictions or any other calamity caused by nature or anything affecting the regular development of the real estate project, insurrection, civil unrest, any rule or notification of the Government or any other public authority or any Act of the Government such as change in legislation or enactment of new law, restrictive Governmental laws or regulations project ("“Force Majeure")”) or due to reasons beyond control. If, however, the completion of the Said Complex Project is delayed due to the Force Majeure conditions or for reasons beyond control, then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Said Apartment. said Apartment Provided that such Force Majeure conditions or reasons 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 Said Complex Project due to Force Majeure conditions, then this allotment shall stand be terminated and the Promoter shall refund to the Allottee the entire amount received by the Promoter from the Allottee (after deduction of towards the Total Price/Agreed Consideration without any statutory charges payable to any authority for the time being in force) within 45 (Forty Five) days from that termination/cancellation date. The Promoter shall intimate the Allottee about such termination at least 30 (thirty) days prior to such terminationinterest. After refund notice of the money paid by the Allotteetermination, the Allottee agrees that he/she/they she shall not have any rightrights, claims claims, etc. whatsoever against the Promoter and that the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. The Possession Date has been agreed Agreement and accepted by the Allottee. However, if the Said Apartment is made ready prior to the Completion Date, the Allottee undertakes(s) and covenant(s) not to make or raise any objection to the consequent preponement of his/her payment obligations, having clearly agreed and understood that the payment obligations of the Allottee are linked inter alia to the progress of construction.
7.2 Procedure for taking possession - The Promoter, upon obtaining the occupancy certificate/completion certificate from the competent authority or upon completion of construction of the Said Complex as per the Specifications hereunder written no other amount whatsoever shall offer in writing the possession of the Said Apartment, to the Allottee in terms of this Agreement to be taken within 15 (fifteen) days from the date of issue of occupancy certificate/completion certificate or such completion of the construction of the Said Complex. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee, after taking possession, agree(s) to pay the maintenance charges as determined payable by the Promoter/association of Allottees, as the case may be and continue to pay the same even after the issuance of the completion certificate for the Said Complex. The Promoter shall hand over copy of the occupancy certificate/completion certificate of the Said Apartment, to the Allottee/Association at the time of handover of the Said Apartment.
Appears in 1 contract
Samples: Sale Agreement
POSSESSION OF THE SAID APARTMENT. 7.1 Schedule for possession delivery of the Said Apartment- said Apartment:- The Promoter agrees and understands that timely delivery of possession of the Said said Apartment to the Allottee and the Common Areas to the association of Allottee or the competent authority, as the case may be, is the essence of the AgreementAgreement subject to full payment and compliance by the Allottee under this Agreement including as mentioned in Clause 7.1A below. The Promoter assures to hand over possession of the Said said Apartment along with ready and complete Common Areas with all specifications, amenities and facilities of the Said Complex in place on or before December 2023 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, insurrection, civil unrest, any rule project(“Force Majeure”) or notification of the Government or any other public authority or any Act of the Government such as change in legislation or enactment of new law, restrictive Governmental laws or regulations ("Force Majeure")due to reasons beyond control. If, however, the completion of the Said Complex Project is delayed due to the Force Majeure conditions or due to reasons beyond control, then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Said Apartment. said Apartment Provided that such Force Majeure conditions or reasons 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 Said Complex project due to Force Majeure conditions, then this allotment shall stand be terminated and the Promoter shall refund to the Allottee the entire amount received by the Promoter from the Allottee (after deduction of any statutory charges payable to any authority for the time being in force) within 45 (Forty Five) days from that termination/cancellation datedate or within such further time as may be agreed between the parties. The Promoter shall intimate the Allottee about such termination at least 30 (thirty) thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee agrees that he/she/they she shall not have any rightrights, claims etc. whatsoever against the Promoter and that the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. The Possession Date has been agreed Agreement and accepted by the Allottee. However, if the Said Apartment is made ready prior to the Completion Date, the Allottee undertakes(s) and covenant(s) not to make or raise any objection to the consequent preponement of his/her payment obligations, having clearly agreed and understood that the payment obligations of the Allottee are linked inter alia to the progress of construction.
7.2 Procedure for taking possession - The Promoter, upon obtaining the occupancy certificate/completion certificate from the competent authority or upon completion of construction of the Said Complex as per the Specifications hereunder written no other amount whatsoever shall offer in writing the possession of the Said Apartment, to the Allottee in terms of this Agreement to be taken within 15 (fifteen) days from the date of issue of occupancy certificate/completion certificate or such completion of the construction of the Said Complex. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee, after taking possession, agree(s) to pay the maintenance charges as determined payable by the Promoter/association of Allottees, as the case may be and continue to pay the same even after the issuance of the completion certificate for the Said Complex. The Promoter shall hand over copy of the occupancy certificate/completion certificate of the Said Apartment, to the Allottee/Association at the time of handover of the Said Apartment.
Appears in 1 contract
Samples: Sale Agreement
POSSESSION OF THE SAID APARTMENT. 7.1 st
a) Schedule for possession of Possession of the Said Apartment- Apartment - The Promoter Developer agrees and understands that timely delivery of possession of the Said Apartment to the Allottee Purchaser/s and the Common Areas common areas to the association Association of Allottee Purchaser/s or the competent authority, as the case may be, is the essence of the Agreement. The Promoter Developer assures to hand over possession of the Said Apartment along with ready and complete Common Areas common areas with all specifications, amenities and facilities of the Said Complex project in place on or before December 2023 within 31 December, 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, insurrection, civil unrest, any rule or notification of the Government or project and/or any other public authority or any Act of the Government such as change in legislation or enactment of new law, restrictive Governmental laws or regulations unforeseen conditions/circumstances beyond Developer’s control ("Force Majeure"). If, however, the completion of the Said Complex Project is delayed due to the Force Majeure conditions then the Allottee agrees Purchaser/s agree/s that the Promoter Developer shall be entitled to the extension of time for delivery of possession of the Said Apartment. Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee agrees Purchaser/s agree/s and confirms confirm/s that, in the event it becomes impossible for the Promoter Developer to implement the Said Complex project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter Developer shall refund to the Allottee Purchaser/s, the entire amount received by the Promoter Developer from the Allottee (after deduction of any statutory charges payable to any authority for the time being in forceallotment within 45(Forty-five) within 45 (Forty Five) days days’ from that termination/cancellation date. The Promoter Developer shall intimate the Allottee Purchaser/s about such termination at least 30 (thirtyThirty) days days’ prior to such termination. After refund of the money paid by the AllotteePurchaser/s, the Allottee agrees Purchaser/s agree/s that he/she/they they/it shall not have any right/s, claims claim/s etc. against the Promoter Developer and that the Promoter Developer shall be released and discharged from all its obligations and liabilities under this Agreement. The Possession Date has been agreed and accepted by the Allottee. However, if the Said Apartment is made ready prior to the Completion Date, the Allottee undertakes(s) and covenant(s) not to make or raise any objection to the consequent preponement of his/her payment obligations, having clearly agreed and understood that the payment obligations of the Allottee are linked inter alia to the progress of construction.
7.2 b) Procedure for taking possession - The PromoterDeveloper, upon obtaining the occupancy certificate/completion certificate from as may be issued by the competent authority or upon completion of construction of the Said Complex as per the Specifications hereunder written authority, shall offer in writing writing, the possession of the Said Apartment, to the Allottee Purchaser/s in terms of this Agreement Agreement, to be taken within 15 (fifteen2(Two) days months’ from the date of issue issuance of occupancy certificate/the completion certificate or such completion subject to payment of the construction all amount due and payable under this Agreement and Registration of Deed of Conveyance. The Purchaser/s shall take possession of the Said ComplexApartment within 15(Fifteen) days’ from the date of issuance of written notice from the Developer to the Purchaser/s that the Said Apartment is ready for use and occupancy. It is clarified that till all dues are cleared by the Purchaser/s in respect of the Said Apartment, the Developer shall not be made liable to pay interest owing to such delay in handing over possession. The Promoter Developer agrees and undertakes to indemnify the Allottee Purchaser/s in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the PromoterDeveloper. The AllotteePurchaser/s, after taking possession, agree(s) to pay the maintenance charges as determined by the PromoterDeveloper/association Association of AllotteesPurchaser/s, as the case may be and continue to pay the same even be, after the issuance of the completion certificate for the Said ComplexProject. The Promoter Developer shall hand over copy photocopy of the occupancy certificate/completion certificate of the Said Apartment, Project to the AllotteePurchaser/Association s at the time of handover conveyance of the Said Apartmentsame. The Purchaser/s hereby authorizes the Developer to take all necessary steps in this connection on his/her/their/its behalf, and further that the Purchaser/s shall comply with and/or adhere to all the Applicable Laws and the rules, regulations, guidelines, etc. formulated from time to time by the Association. The Purchaser/s undertake/s to do all act/s, deed/s, matter/s and thing/s and sign and execute the application for registration and/or membership and other papers and documents as may be necessary for the formation and the registration of the Association and for becoming a member.
Appears in 1 contract
Samples: Sale Agreement
POSSESSION OF THE SAID APARTMENT. 7.1 Schedule for possession of the Said Apartment- said Apartment:- The Promoter agrees Vendors agree and understands understand that timely delivery of possession of the Said said Apartment to the Allottee and the Common Areas to the association of Allottee or the competent authority, as the case may be, is the essence of the AgreementAgreement subject to full payment and compliance by the Allottee under this Agreement including as mentioned in Clause 7.1A below. The Promoter assures to hand over possession of the Said said Apartment along with ready and complete Common Areas with all specifications, amenities and facilities of the Said Complex in place on or before December 2023 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, insurrection, civil unrest, any rule or notification of the Government or any other public authority or any Act of the Government such as change in legislation or enactment of new law, restrictive Governmental laws or regulations project ("“Force Majeure")”) or due to reasons beyond control. If, however, the completion of the Said Complex Project is delayed due to the Force Majeure conditions or due to reasons beyond control, then the Allottee agrees that the Promoter Vendors shall be entitled to the extension of time for delivery of possession of the Said Apartment. said Apartment Provided that such Force Majeure conditions or reasons 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 Vendors to implement the Said Complex Project due to Force Majeure conditions, then this allotment shall stand be terminated and the Promoter Owners shall refund to the Allottee the entire amount received by the Promoter Owners from the Allottee (after deduction of any statutory charges payable to any authority for the time being in force) within 45 (Forty Five) days from that termination/cancellation datedate or within such further time as may be agreed between the parties. The Promoter Owners shall intimate the Allottee about such termination at least 30 (thirty) thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee agrees that he/she/they she shall not have any rightrights, claims etc. whatsoever against the Promoter Vendors and that the Promoter Vendors shall be released and discharged from all its their obligations and liabilities under this Agreement. The Possession Date has been agreed Agreement and accepted no other amount whatsoever shall be payable by the Allottee. However, if the Said Apartment is made ready prior to the Completion Date, the Allottee undertakes(s) and covenant(s) not to make or raise any objection to the consequent preponement of his/her payment obligations, having clearly agreed and understood that the payment obligations of the Allottee are linked inter alia to the progress of constructionVendors.
7.2 Procedure for taking possession - The Promoter, upon obtaining the occupancy certificate/completion certificate from the competent authority or upon completion of construction of the Said Complex as per the Specifications hereunder written shall offer in writing the possession of the Said Apartment, to the Allottee in terms of this Agreement to be taken within 15 (fifteen) days from the date of issue of occupancy certificate/completion certificate or such completion of the construction of the Said Complex. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee, after taking possession, agree(s) to pay the maintenance charges as determined by the Promoter/association of Allottees, as the case may be and continue to pay the same even after the issuance of the completion certificate for the Said Complex. The Promoter shall hand over copy of the occupancy certificate/completion certificate of the Said Apartment, to the Allottee/Association at the time of handover of the Said Apartment.
Appears in 1 contract
Samples: Sale Agreement
POSSESSION OF THE SAID APARTMENT. 7.1 Schedule for possession of the Said Apartment- The Promoter agrees and understands that timely delivery of possession of the Said Apartment to the Allottee and the Common Areas [subject to Clause 34] to the association of 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 Said Apartment along with ready and complete Common Areas with all specifications, amenities and facilities of the respective phases of the Said Complex in place on or before December 2023 , except the operational SAC as provided herein, unless there is delay or failure due to war, flood, drought, fire, cyclone, epidemic, complete or partial lockdown, earthquake or any other calamity caused by nature affecting the regular development of the real estate project, insurrection, civil unrest, any rule or notification of the Government or any other public authority or any Act of the Government such as change in legislation or enactment of new law, restrictive Governmental laws or regulations ("Force Majeure"). If, however, the completion of the Said Complex 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 Said Apartment. Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the Said Complex 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 Allottee (after deduction of any statutory charges payable to any authority for the time being in force) within 45 (Forty Five) days from that termination/cancellation date. The Promoter shall intimate the Allottee about such termination at least 30 (thirty) days prior to such termination. After refund of the money paid by the Allottee, the Allottee agrees that he/she/they shall not have any right, claims etc. against the Promoter and that the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. The Possession Date has been agreed and accepted by the Allottee. However, if the Said Apartment is made ready prior to the Completion Date, the Allottee undertakes(s) and covenant(scovenant (s) not to make or raise any objection to the consequent preponement of his/her her/their payment obligations, having clearly agreed and understood that the payment obligations of the Allottee are linked inter alia to the progress of construction.
7.2 Procedure for taking possession - The Promoter, upon obtaining the occupancy certificate/completion certificate from the competent authority or upon completion of construction of the Said Complex as per the Specifications hereunder written shall offer in writing the possession of the Said Apartment, to the Allottee in terms of this Agreement to be taken within 15 (fifteen) days from the date of issue of occupancy certificate/completion certificate or such completion of the construction of the Said Complex. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee, after taking possession, agree(s) to pay the maintenance charges as determined by the Promoter/association of AllotteesAllottee, as the case may be and continue to pay the same even after the issuance of the completion certificate for the Said Complex. The Promoter shall hand over copy of the occupancy certificate/completion certificate of the Said Apartment, to the Allottee/Association Allottee at the time of handover of the Said Apartmentsame.
Appears in 1 contract
Samples: Agreement for Sale
POSSESSION OF THE SAID APARTMENT. 7.1 st
a) Schedule for possession of Possession of the Said Apartment- Apartment - The Promoter Developer agrees and understands that timely delivery of possession of the Said Apartment to the Allottee Purchaser/s and the Common Areas common areas to the association Association of Allottee Purchaser/s or the competent authority, as the case may be, is the essence of the Agreement. The Promoter Developer assures to hand over possession of the Said Apartment along with ready and complete Common Areas common areas with all specifications, amenities and facilities of the Said Complex project in place on or before December 2023 within 31 December, 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, insurrection, civil unrest, any rule or notification of the Government or project and/or any other public authority or any Act of the Government such as change in legislation or enactment of new law, restrictive Governmental laws or regulations unforeseen conditions/circumstances beyond Developer’s control ("Force Majeure"). If, however, the completion of the Said Complex Project is delayed due to the Force Majeure conditions then the Allottee agrees Purchaser/s agree/s that the Promoter Developer shall be entitled to the extension of time for delivery of possession of the Said Apartment. Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee agrees Purchaser/s agree/s and confirms confirm/s that, in the event it becomes impossible for the Promoter Developer to implement the Said Complex project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter Developer shall refund to the Allottee Purchaser/s, the entire amount received by the Promoter Developer from the Allottee (after deduction of any statutory charges payable to any authority for the time being in forceallotment within 45(Forty-five) within 45 (Forty Five) days days’ from that termination/cancellation date. The Promoter Developer shall intimate the Allottee Purchaser/s about such termination at least 30 (thirtyThirty) days days’ prior to such termination. After refund of the money paid by the AllotteePurchaser/s, the Allottee agrees Purchaser/s agree/s that he/she/they they/it shall not have any right/s, claims claim/s etc. against the Promoter Developer and that the Promoter Developer shall be released and discharged from all its obligations and liabilities under this Agreement. The Possession Date has been agreed and accepted by the Allottee. However, if the Said Apartment is made ready prior to the Completion Date, the Allottee undertakes(s) and covenant(s) not to make or raise any objection to the consequent preponement of his/her payment obligations, having clearly agreed and understood that the payment obligations of the Allottee are linked inter alia to the progress of construction.
7.2 b) Procedure for taking possession - The PromoterDeveloper, upon obtaining the occupancy certificate/completion certificate from as may be issued by the competent authority or upon completion of construction of the Said Complex as per the Specifications hereunder written authority, shall offer in writing writing, the possession of the Said Apartment, to the Allottee Purchaser/s in terms of this Agreement Agreement, to be taken within 15 (fifteen2(Two) days months’ from the date of issue issuance of occupancy certificate/the completion certificate or such completion subject to payment of the construction all amount due and payable under this Agreement and Registration of Deed of Conveyance. The Purchaser/s shall take possession of the Said ComplexApartment within 15(Fifteen) days’ from the date of issuance of written notice from the Developer to the Purchaser/s that the Said Apartment is ready for use and occupancy. It is clarified that till all dues are cleared by the Purchaser/s in respect of the Said Apartment, the Developer shall not be made liable to pay interest owing to such delay in handing over possession. The Promoter Developer agrees and undertakes to indemnify the Allottee Purchaser/s in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the PromoterDeveloper. The AllotteePurchaser/s, after taking possession, agree(s) to pay the maintenance charges as determined by the PromoterDeveloper/association Association of AllotteesPurchaser/s, as the case may be and continue to pay the same even be, after the issuance of the completion certificate for the Said ComplexProject. The Promoter Developer shall hand over copy photocopy of the occupancy certificate/completion certificate of the Said Apartment, Project to the AllotteePurchaser/Association s at the time of handover conveyance of the same. The Purchaser/s hereby authorizes the Developer to take all necessary steps in this connection on his/her/their/its behalf, and further that the Purchaser/s shall comply with and/or adhere to all the Applicable Laws and the rules, regulations, guidelines, etc. formulated from time to time by the Association. The Purchaser/s undertake/s to do all act/s, deed/s, matter/s and thing/s and sign and execute the application for registration and/or membership and other papers and documents as may be necessary for the formation and the registration of the Association and for becoming a member.
c) Failure of Purchaser/s to take Possession of the Said ApartmentApartment - Upon receiving a written intimation from the Developer as per Clause (9) (b), the Purchaser/s shall take possession of the Said Apartment from the Developer by executing necessary indemnities, undertakings and such other documentation as prescribed in this Agreement, and the Developer shall give possession of the Said Apartment to the Purchaser/s. In case the Purchaser/s fails to take possession within the time provided in Clause (9)(b), such Purchaser/s shall continue to be liable to pay interest on the amount due and payable in terms of this Agreement, interest on amount due and payable in terms of this agreement, maintenance charges as specified in Clause (9)(b), municipal tax and other outgoings and further holding charge of Rs. 1000/- (Rupees One Thousand only) per month or part thereof for the period of delay of taking possession.
Appears in 1 contract
Samples: Sale Agreement
POSSESSION OF THE SAID APARTMENT. 7.1 Schedule for possession of the Said Apartment- said Apartment:- The Promoter agrees and understands that timely delivery of possession of the Said said Apartment to the Allottee and the Common Areas to the association of Allottee or the competent authority, as the case may be, is the essence of the AgreementAgreement subject to full payment and compliance by the Allottee under this Agreement including as mentioned in Clause 7.1A below as also subject to Force Majeure and reasons beyond control. The Promoter Promoter, based on the approved plans and specifications, assures to hand over possession of the Said said Apartment along with ready and complete Common Areas with all specifications, amenities and facilities of the Said Complex in place on or before December 2023 unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake earthquake, epidemic, pandemic, lockdown, governmental restrictions or any other calamity caused by nature or anything affecting the regular development of the real estate project, insurrection, civil unrest, any rule or notification of the Government or any other public authority or any Act of the Government such as change in legislation or enactment of new law, restrictive Governmental laws or regulations project ("“Force Majeure")”) or due to reasons beyond control. If, however, the completion of the Said Complex Project is delayed due to the Force Majeure conditions or for reasons beyond control, then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Said Apartment. said Apartment Provided that such Force Majeure conditions or reasons 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 Said Complex Project due to Force Majeure conditions, then this allotment shall stand be terminated and the Promoter Promoter/Owners shall refund to the Allottee the entire amount received by the Promoter Promoter/Owners from the Allottee (after deduction of any statutory charges payable to any authority for towards the time being in force) within 45 (Forty Five) days from that terminationTotal Price/cancellation date. The Promoter shall intimate the Allottee about such termination at least 30 (thirty) days prior to such terminationAgreed Consideration. After refund notice of the money paid by the Allotteetermination, the Allottee agrees that he/she/they she shall not have any rightrights, claims claims, etc. whatsoever against the Promoter Promoter/Owners and that the Promoter Promoter/Owners shall be released and discharged from all its obligations and liabilities under this Agreement. The Possession Date has been agreed Agreement and accepted by the Allottee. However, if the Said Apartment is made ready prior to the Completion Date, the Allottee undertakes(s) and covenant(s) not to make or raise any objection to the consequent preponement of his/her payment obligations, having clearly agreed and understood that the payment obligations of the Allottee are linked inter alia to the progress of construction.
7.2 Procedure for taking possession - The Promoter, upon obtaining the occupancy certificate/completion certificate from the competent authority or upon completion of construction of the Said Complex as per the Specifications hereunder written no other amount whatsoever shall offer in writing the possession of the Said Apartment, to the Allottee in terms of this Agreement to be taken within 15 (fifteen) days from the date of issue of occupancy certificate/completion certificate or such completion of the construction of the Said Complex. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee, after taking possession, agree(s) to pay the maintenance charges as determined payable by the Promoter/association of Allottees, as the case may be and continue to pay the same even after the issuance of the completion certificate for the Said Complex. The Promoter shall hand over copy of the occupancy certificate/completion certificate of the Said Apartment, to the Allottee/Association at the time of handover of the Said ApartmentOwners.
Appears in 1 contract
Samples: Sale Agreement
POSSESSION OF THE SAID APARTMENT. 7.1 7.1. Schedule for possession of the Said Apartment- The Promoter agrees and understands that timely delivery of possession of the Said Apartment to the Allottee and the Common Areas to the association of Allottee 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 Said Apartment along with ready and complete Common Areas with all specifications, amenities and facilities of the Said Complex Project in place on or before December 2023 ………….., 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, insurrection, civil unrest, any rule or notification of the Government or any other public authority or any Act of the Government such as change in legislation or enactment of new law, restrictive Governmental laws or regulations ("Force Majeure"). If, however, the completion of the Said Complex is delayed due to the Force Majeure conditions conditions, then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Said Apartment. Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the Said Complex 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 Allottee (after deduction of any statutory charges payable to any authority for the time being in force) within 45 (Forty Fiveforty five) days from that termination/cancellation date. The Promoter shall intimate the Allottee about such termination at least 30 (thirty30) thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee agrees that he/she/they he/ she shall not have any right, claims etc. against the Promoter and that the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. The Possession Date has been agreed and accepted by the Allottee. However, if the Said Apartment is made ready prior to the Completion Date, the Allottee undertakes(s) and covenant(s) not to make or raise any objection to the consequent preponement of his/her payment obligations, having clearly agreed and understood that the payment obligations of the Allottee are linked inter alia to the progress of construction.
7.2 Procedure for taking possession - The Promoter, upon obtaining the occupancy certificate/completion certificate from the competent authority or upon completion of construction of the Said Complex as per the Specifications hereunder written shall offer in writing the possession of the Said Apartment, to the Allottee in terms of this Agreement to be taken within 15 (fifteen) days from the date of issue of occupancy certificate/completion certificate or such completion of the construction of the Said Complex. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee, after taking possession, agree(s) to pay the maintenance charges as determined by the Promoter/association of Allottees, as the case may be and continue to pay the same even after the issuance of the completion certificate for the Said Complex. The Promoter shall hand over copy of the occupancy certificate/completion certificate of the Said Apartment, to the Allottee/Association at the time of handover of the Said Apartment.
Appears in 1 contract
Samples: Agreement for Sale
POSSESSION OF THE SAID APARTMENT. 7.1 Schedule for possession of the Said Apartment- said Apartment:- The Promoter agrees and understands that timely delivery of possession of the Said said Apartment to the Allottee and the Common Areas to the association of Allottee or the competent authority, as the case may be, is the essence of the AgreementAgreement subject to full payment and compliance by the Allottee under this Agreement including as mentioned in Clause 7.1A below as also subject to Force Majeure and reasons beyond control. The Promoter Promoter, based on the approved plans and specifications, assures to hand over possession of the Said said Apartment along with ready and complete Common Areas with all specifications, amenities and facilities of within the Said Complex date mentioned in place on or before December 2023 Schedule A unless there is delay or failure due to Force Majeure including but not limited to war, flood, drought, fire, cyclone, earthquake earthquake, epidemic, pandemic, lockdown, governmental restrictions or any other calamity caused by nature or anything affecting the regular development of the real estate project, insurrection, civil unrest, any rule project or notification of the Government or any other public authority or any Act of the Government such as change in legislation or enactment of new law, restrictive Governmental laws or regulations ("Force Majeure")due to reasons beyond control. If, however, the completion of the Said Complex Project is delayed due to the Force Majeure conditions or for reasons beyond control, then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Said Apartment. said Apartment Provided that such Force Majeure conditions or reasons 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 Said Complex Project due to Force Majeure conditions, then this allotment shall stand be terminated and the Promoter shall refund to the Allottee the entire amount received by the Promoter from the Allottee (after deduction of towards the Total Price/Agreed Premium without any statutory charges payable to any authority for the time being in force) interest within 45 (Forty Five) days from that termination/cancellation datethe date of termination or within such further time as may be agreed between the parties. The liability of the Promoter shall intimate to refund any amount to the Allottee about such termination shall arise only upon execution and registration of a Cancellation Agreement at least 30 (thirty) days prior to such terminationthe costs of the Allottee. After refund notice of the money paid by the Allotteetermination, the Allottee agrees that he/she/they she shall not have any rightrights, claims claims, etc. whatsoever against the Promoter and that the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. The Possession Date has been agreed Agreement and accepted by the Allottee. However, if the Said Apartment is made ready prior to the Completion Date, the Allottee undertakes(s) and covenant(s) not to make or raise any objection to the consequent preponement of his/her payment obligations, having clearly agreed and understood that the payment obligations of the Allottee are linked inter alia to the progress of construction.
7.2 Procedure for taking possession - The Promoter, upon obtaining the occupancy certificate/completion certificate from the competent authority or upon completion of construction of the Said Complex as per the Specifications hereunder written no other amount whatsoever shall offer in writing the possession of the Said Apartment, to the Allottee in terms of this Agreement to be taken within 15 (fifteen) days from the date of issue of occupancy certificate/completion certificate or such completion of the construction of the Said Complex. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee, after taking possession, agree(s) to pay the maintenance charges as determined payable by the Promoter/association of Allottees, as the case may be and continue to pay the same even after the issuance of the completion certificate for the Said Complex. The Promoter shall hand over copy of the occupancy certificate/completion certificate of the Said Apartment, to the Allottee/Association at the time of handover of the Said Apartment.
Appears in 1 contract
Samples: Sub Lease Agreement
POSSESSION OF THE SAID APARTMENT. 7.1 Schedule for possession of the Said Apartment- said Apartment:- The Promoter agrees Vendors agree and understands understand that timely delivery of possession of the Said said Apartment to the Allottee and the Common Areas to the association of Allottee or the competent authority, as the case may be, is the essence of the AgreementAgreement subject to full payment and compliance by the Allottee under this Agreement including as mentioned in Clause 7.1A below. The Promoter assures to hand over possession of the Said said Apartment along with ready and complete Common Areas with all specifications, amenities and facilities of the Said Complex in place on or before December 2023 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, insurrection, civil unrest, any rule or notification of the Government or any other public authority or any Act of the Government such as change in legislation or enactment of new law, restrictive Governmental laws or regulations project ("“Force Majeure")”) or due to reasons beyond control. If, however, the completion of the Said Complex Project is delayed due to the Force Majeure conditions or due to reasons beyond control, then the Allottee agrees that the Promoter Vendors shall be entitled to the extension of time for delivery of possession of the Said Apartment. said Apartment Provided that such Force Majeure conditions or reasons 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 Vendors to implement the Said Complex project due to Force Majeure conditions, then this allotment shall stand be terminated and the Promoter Promoter/Owners shall refund to the Allottee the entire amount received by the Promoter Promoter/Owners from the Allottee (after deduction of any statutory charges payable to any authority for the time being in force) within 45 (Forty Five) days from that termination/cancellation datedate or within such further time as may be agreed between the parties. The Promoter Promoter/Owners shall intimate the Allottee about such termination at least 30 (thirty) thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee agrees that he/she/they she shall not have any rightrights, claims etc. whatsoever against the Promoter Vendors and that the Promoter Vendors shall be released and discharged from all its their obligations and liabilities under this Agreement. The Possession Date has been agreed Agreement and accepted no other amount whatsoever shall be payable by the Allottee. However, if the Said Apartment is made ready prior to the Completion Date, the Allottee undertakes(s) and covenant(s) not to make or raise any objection to the consequent preponement of his/her payment obligations, having clearly agreed and understood that the payment obligations of the Allottee are linked inter alia to the progress of constructionVendors.
7.2 Procedure for taking possession - The Promoter, upon obtaining the occupancy certificate/completion certificate from the competent authority or upon completion of construction of the Said Complex as per the Specifications hereunder written shall offer in writing the possession of the Said Apartment, to the Allottee in terms of this Agreement to be taken within 15 (fifteen) days from the date of issue of occupancy certificate/completion certificate or such completion of the construction of the Said Complex. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee, after taking possession, agree(s) to pay the maintenance charges as determined by the Promoter/association of Allottees, as the case may be and continue to pay the same even after the issuance of the completion certificate for the Said Complex. The Promoter shall hand over copy of the occupancy certificate/completion certificate of the Said Apartment, to the Allottee/Association at the time of handover of the Said Apartment.
Appears in 1 contract
Samples: Sale Agreement