Common use of POSSESSION OF THE UNIT Clause in Contracts

POSSESSION OF THE UNIT. 7.1 Schedule for possession of the said Unit– The Promoter/Vendor agrees and understands that timely delivery of possession of the Unit to the Allottee/s and the common areas to the association of Allottee/s or the competent authority, as the case may be, is the essence of the Agreement. The Promoter/Vendor assures to hand over possession of the Unit along with ready and complete common areas with all specifications, amenities and facilities of the Project in place on within , 202 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 condition then the Allottee/s agrees that the Promoter/Vendor shall be entitled to the extension of time for delivery of possession of the Unit. Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee/s agrees and confirms that, in the event it becomes impossible for the Promoter/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/s the entire amount received by the Promoter/Vendor from the allotment within 45 (forty five) days from that date. The Promoter/Vendor shall intimate the Allottee/s about such termination at least 30(thirty) days prior to such termination. After refund of the money paid by the Allottee/s, the Allottee/s agrees that he/she shall not have any rights, claims etc. against the Promoter/Vendor and that the Promoter/Vendor shall be released and discharged from all its obligations and liabilities under this Agreement.

Appears in 2 contracts

Samples: Sale Agreement, Sale Agreement

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POSSESSION OF THE UNIT. 7.1 Schedule for possession of the said Unit– Unit : The Promoter/Vendor Promoter agrees and understands that timely delivery of possession of the Unit to the Allottee/s Allottee and the common areas Common Areas to the association Association of Allottee/s or the competent authority, as the case may beAllottees , is the essence of the Agreement. The Promoter/Vendor Promoter assures to hand over possession of the Unit along with ready and complete common areas with all specifications, amenities and facilities of the Project in place on within 31st March, 202 2028 with a grace period of six months (Completion date) . Similarly, the Common areas will be handed over progressively on completion of each phase unless there is a delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity calamity, order, rule, notification of the government and/or other public or competent authority/court and/or caused by nature affecting the regular development of the real estate project (“Force Majeure”). The Common Areas of the entire Project shall be completed on the completion of the entire Project and not with completion of the respective phases, However such Common Areas of the Project will get connected on the completion of all the phases of the Project. If, however, the completion of the Project is delayed due to the Force Majeure condition conditions then the Allottee/s Allottee agrees that the Promoter/Vendor Promoter shall be entitled to the extension of time for delivery of possession of the Unit. Unit and the same shall not include the period of extension given by the Authority for registration, Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. Promoter will be entitled to give block-wise and phase-wise possession upon obtaining the Completion Certificate/ Partial Completion Certificate of a building block or a particular phase as the case may be irrespective of the fact that construction of other Blocks and/or other phases and/or provision of facilities /Amenities may be incomplete. The Allottee/s Allottee agrees and confirms that, in the event it becomes impossible for the Promoter/Vendor Promoter to implement the Project project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter/Vendor Promoter shall refund to the Allottee/s Allottee the entire amount received by the Promoter/Vendor Promoter from the allotment within 45 (forty five) days from that date. The Promoter/Vendor promoter shall intimate the Allottee/s allottee about such termination at least 30(thirty) thirty days prior to such termination. After refund of the money paid by the Allottee/s, the Allottee/s Allottee agrees that he/he/ she shall not have any rights, claims etc. against the Promoter/Vendor Promoter and that the Promoter/Vendor Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. It is clarified that all amounts collected as taxes, charges, levies, cess, assessments and impositions and deposited with the appropriate authorities concerned shall not be returned by the Promoter and the Allottee shall be free to approach the authorities concerned for refund of such taxes, charges, levies, cess, assessments and impositions.

Appears in 2 contracts

Samples: Agreement for Sale, Agreement for Sale

POSSESSION OF THE UNIT. 7.1 11.1 Schedule for possession of the said Unit– The Promoter/Vendor agrees and understands that : NBCC shall make timely delivery of the possession of the Unit to the Allottee/s and the common areas to the association of Allottee/s or the competent authority, as the case may be, Unit. NBCC understands that time is the essence of the this Agreement. The Promoter/Vendor NBCC, based on the approved plans and specifications, assures to hand over possession of the Unit along with ready and complete common areas with all specificationsto the Lessee on [●], amenities and facilities of the Project in place on within , 202 unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature or any other act of god 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 condition conditions then the Allottee/s Lessee agrees that the Promoter/Vendor NBCC shall be entitled to the extension of time for delivery of possession of the Unit. Provided Unit provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee/s Lessee agrees and confirms that, in the event it becomes impossible for the Promoter/Vendor RLDA and NBCC to implement the Project due to Force Majeure conditions, then this the allotment of Unit on lease basis for the Term as contemplated herein shall stand terminated and the Promoter/Vendor shall refund to the Allottee/s the entire amount received by the Promoter/Vendor from the allotment Lessee towards the Total Lease Premium shall be refunded within 45 120 (forty fiveone hundred and twenty) days dayswithout interest from that date. The Promoter/Vendor shall intimate the Allottee/s about such termination at least 30(thirty) days prior date of intimation to such terminationLessee. After refund of the money paid by the Allottee/sLessee, the Allottee/s Lessee agrees that he/she it shall not have any rightsright and/ or claim, claims etc. whatsoever it may be, against the Promoter/Vendor NBCC and RLDA and that the Promoter/Vendor NBCC and RLDA shall be released and discharged from all its their respective obligations and liabilities under this Agreement. In case the Project is developed in phases, it shall be the duty of NBCC to maintain those Common Areas and facilities which are not complete. NBCC shall not charge more than the standard maintenance charges from the Lessee.

Appears in 1 contract

Samples: Lease Agreement

POSSESSION OF THE UNIT. 7.1 Schedule for possession of the said Unit– The PromoterOwner/Developer/Vendor agrees and understands that timely delivery of possession of the Unit to the Allottee/s and the common areas to the association of Allottee/s or the competent authority, as the case may be, is the essence of the Agreement. The PromoterOwner/Developer/Vendor assures to hand over possession of the Unit along with ready and complete common areas with all specifications, amenities and facilities of the Project in place on within , 202 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 condition then the Allottee/s agrees that the PromoterOwner/Developer/ Vendor shall be entitled to the extension of time for delivery of possession of the Unit. Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee/s agrees and confirms that, in the event it becomes impossible for the PromoterOwner/Developer/Vendor to implement the Project due to Force Majeure conditions, then this allotment shall stand terminated and the PromoterOwner/Developer/Vendor shall refund to the Allottee/s the entire amount received by the PromoterOwner/Developer/Vendor from the allotment within 45 (forty five) days from that date. The PromoterOwner/Developer/Vendor shall intimate the Allottee/s about such termination at least 30(thirty) days prior to such termination. After refund of the money paid by the Allottee/s, the Allottee/s agrees that he/she shall not have any rights, claims etc. against the PromoterOwner/Developer/Vendor and that the PromoterOwner/Developer/Vendor shall be released and discharged from all its obligations and liabilities under this Agreement. 7.2 Procedure for taking possession – The Owner/Developer/Vendor, upon obtaining the occupancy certificate from the competent authority, shall offer in writing the possession of the Unit, to the Allottee/s in terms of this Agreement to be taken within 2(two) months from the date of issue of occupancy certificate [Provided that, in the absence of local law, the conveyance deed in favour of the Allottee/s shall be carried out by the Owner/Developer/Vendor within 3(three) months from the date of issue of occupancy certificate]. The Owner/Developer/Vendor 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 Owner/Developer/Vendor. The Allottee/s, after taking possession, agree(s) to pay the maintenance charges as determined by the Owner/Developer/Vendor/association of Allottee/s, as the case may be after the issuance of the completion certificate for the Project. The Owner/Developer/Vendor shall hand over the occupancy certificate of the Unit/Project, as the case may be, to the Allottee/s at the time of conveyance of the same.

Appears in 1 contract

Samples: Sale Agreement

POSSESSION OF THE UNIT. 7.1 Schedule for possession of the said Unit: The Promoter/Vendor Promoter agrees and understands that timely delivery of possession of the Row House or the Town House Unit to the Allottee/s Allottee and the common areas Common Areas to the association Association of Allottee/s or the competent authority, as the case may beAllottees, is the essence of the Agreement. The Promoter/Vendor Promoter assures to hand over possession of the Row House or the Town House Unit along with ready and complete common areas with all specifications, amenities and facilities of the Project specifications in place on within 31st March 2029 with a grace period of six months (Completion date). Similarly, 202 the Common areas will be handed over progressively on completion of each phase unless there is a delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity calamity, order, rule, notification of the government and/or other public or competent authority/court and/or caused by nature affecting the regular development of the real estate project (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure condition conditions then the Allottee/s Allottee agrees that the Promoter/Vendor Promoter shall be entitled to the extension of time for delivery of possession of the Unit. Unit and the same shall not include the period of extension given by the Authority for registration, Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. Promoter will be entitled to give block-wise and phase-wise possession upon obtaining the Completion Certificate/ Partial Completion Certificate of a building block or a particular phase as the case may be irrespective of the fact that construction of other Blocks and/or other phases and/or provision of facilities /Amenities may be incomplete. The Allottee/s Allottee agrees and confirms that, in the event it becomes impossible for the Promoter/Vendor Promoter to implement the Project project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter/Vendor Promoter shall refund to the Allottee/s Allottee the entire amount received by the Promoter/Vendor Promoter from the allotment within 45 (forty five) days from that date. The Promoter/Vendor promoter shall intimate the Allottee/s allottee about such termination at least 30(thirty) thirty days prior to such termination. After refund of the money paid by the Allottee/s, the Allottee/s Allottee agrees that he/he/ she shall not have any rights, claims etc. against the Promoter/Vendor Promoter and that the Promoter/Vendor Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. It is clarified that all amounts collected as taxes, charges, levies, cess, assessments and impositions and deposited with the appropriate authorities concerned shall not be returned by the Promoter and the Allottee shall be free to approach the authorities concerned for refund of such taxes, charges, levies, cess, assessments and impositions.

Appears in 1 contract

Samples: Agreement for Sale

POSSESSION OF THE UNIT. 7.1 Schedule for possession of the said Unit: The Promoter/Vendor Promoter agrees and understands that timely delivery of possession of the Row House or the Town House Unit to the Allottee/s Allottee and the common areas Common Areas to the association Association of Allottee/s or the competent authority, as the case may beAllottees , is the essence of the Agreement. The Promoter/Vendor Promoter assures to hand over possession of the Row House or the Town House Unit along with ready and complete common areas with all specifications, amenities and facilities of the Project specifications in place on within 31st October 2028 with a grace period of six months (Completion date). Similarly, 202 the Common areas will be handed over progressively on completion of each phase unless there is a delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity calamity, order, rule, notification of the government and/or other public or competent authority/court and/or caused by nature affecting the regular development of the real estate project (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure condition conditions then the Allottee/s Allottee agrees that the Promoter/Vendor Promoter shall be entitled to the extension of time for delivery of possession of the Unit. Unit and the same shall not include the period of extension given by the Authority for registration, Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. Promoter will be entitled to give block-wise and phase-wise possession upon obtaining the Completion Certificate/ Partial Completion Certificate of a building block or a particular phase as the case may be irrespective of the fact that construction of other Blocks and/or other phases and/or provision of facilities /Amenities may be incomplete. The Allottee/s Allottee agrees and confirms that, in the event it becomes impossible for the Promoter/Vendor Promoter to implement the Project project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter/Vendor Promoter shall refund to the Allottee/s Allottee the entire amount received by the Promoter/Vendor Promoter from the allotment within 45 (forty five) days from that date. The Promoter/Vendor promoter shall intimate the Allottee/s allottee about such termination at least 30(thirty) thirty days prior to such termination. After refund of the money paid by the Allottee/s, the Allottee/s Allottee agrees that he/he/ she shall not have any rights, claims etc. against the Promoter/Vendor Promoter and that the Promoter/Vendor Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. It is clarified that all amounts collected as taxes, charges, levies, cess, assessments and impositions and deposited with the appropriate authorities concerned shall not be returned by the Promoter and the Allottee shall be free to approach the authorities concerned for refund of such taxes, charges, levies, cess, assessments and impositions. PROCEDURE FOR TAKING POSSESSION- (i) The Promoter, upon obtaining the occupancy certificate/Completion Certificate/Partial Completion Certificate from the Competent Authority shall offer in writing the possession of the Row House or the Town House Unit, to the Allottee in terms of this Agreement to be taken within 2 (two) months from the date of issue of such certificate (Provided that , in the absence of local law the Conveyance Deed in favor of the Allottee shall be carried out by the Promoter within 3 months from the date of issue of Occupancy Certificate/Completion Certificate/Partial Completion Certificate as the case may be). However, upon the Promoter giving a written notice, the Promoter shall give and the Allottee shall take possession of the Row House or the Town House Unit within 15 (fifteen) days of the written notice . The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee agree(s) to pay the maintenance charges as determined by the Promoter/Association of Allottees, as the case may be. The Promoter on its behalf shall offer the possession to the Allottee in writing after receiving the occupancy certificate/ completion certificate (notice of possession). The Promoter shall hand over the photocopy of the Completion Certificate of the Project to the Allottee at the time of conveyance of the same. (i) At the time of registration of conveyance or Lease of the structure of the building or wing of the building to the Association of Allottees, the Allottee shall pay to the Promoter, the Allottees' share of stamp duty and registration charges payable, by the said Society or Limited Company on such conveyance or lease or any document or instrument of transfer in respect of the structure of the said Building /wing of the building. At the time of registration of conveyance or Lease of the project land, the Allottee shall pay to the Promoter, the Allottees' share of stamp duty and registration charges payable, by the said Apex Body or Federation on such conveyance or lease or any document or instrument of transfer in respect of the said land to be executed in favour of the Apex Body or Federation. Failure of Allottee to take the possession of Row House or the Town House Unit: (i) Upon receiving a written intimation from the Promoter as per clause 7.2, the Allottee shall take possession of the Row House or the Town House Unit from the Promoter by executing necessary indemnities, undertakings and such other documentation as required and/or prescribed in this Agreement, and the Promoter shall give possession of the Row House or the Town House Unit to the Allottee. In case the Allottee fails to take possession within the time provided in clause 7.2, such Allottee shall continue to be liable to pay interest on amounts due and payable in terms of this agreement , maintenance charges, municipal tax and other outgoings and further holding charge of Rs. 3,000/-per month as Guarding Charges for the period of delay in taking possession. Possession by the Allottee - After obtaining the Completion Certificate certificate /partial completion certificate and handing over physical possession of the Unit to the Allottees, it shall be the responsibility of the Promoter to handover the necessary documents and plans, including common areas to the association of the Allottee on its formation or the competent authority, as the case may be, as per the local laws. Provided that in the absence of any local law, the Promoter shall hand over the necessary documents and plans including common areas to the Association of Allottees within 30 days after obtaining the completion certificate or as per local laws.

Appears in 1 contract

Samples: Agreement for Sale

POSSESSION OF THE UNIT. 7.1 Schedule for possession of the said Unit– UNIT- The Promoter/Vendor Promoter agrees and understands that timely delivery of possession of the Unit UNIT to the Allottee/s and the common areas to the association of Allottee/s or the competent authority, as the case may be, is the essence of the Agreement. The Promoter/Vendor Promoter assures to hand over possession of the Unit UNIT along with ready and complete right to use common areas with all specifications, amenities and facilities of the said Project in place on within , 202 in the month of 31st December 2020 (Phase I) & 30TH June 2021(Phase II) with a grace period of 6 months 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 or any unforeseen occurrences, acts, court order or any other events, omissions or accidents which are beyond the reasonable control of the Owners and the Promoter so prevented and does not arise out of a breach by such Party of any of its obligations under this agreement(“Force Majeure”). If, If however, the completion of the said Project is delayed due to the Force Majeure condition conditions then the Allottee/s Allottee agrees that the Promoter/Vendor Promoter shall be entitled to the extension of time for delivery of possession of the Unit. Provided UNIT, provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee/s Allottee agrees and confirms that, in the event it becomes impossible for the Promoter/Vendor Promoter to implement the said Project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter/Vendor Promoter shall refund to the Allottee/s Allottee the entire amount received by the Promoter/Vendor Promoter from the allotment within 45 (forty five) days from that date. The Promoter/Vendor Promoter shall intimate the Allottee/s Allottee about such termination at least 30(thirty30 (thirty) days prior to such termination. After refund of the money paid by the Allottee/s, the Allottee/s Allottee agrees that he/she shall not have any rights, claims etc. against the Promoter/Vendor Promoter and that the Promoter/Vendor Promoter shall be released and discharged from all its obligations and liabilities under this Agreement.

Appears in 1 contract

Samples: Sale Agreement

POSSESSION OF THE UNIT. 7.1 Schedule for possession of the said Unit– The Promoter/Vendor agrees and understands that timely delivery of possession of the Unit to the Allottee/s and the common areas to the association of Allottee/s or the competent authority, as the case may be, is the essence of the Agreement. The Promoter/Vendor assures to hand over possession of the Unit along with ready and complete common areas with all specifications, amenities and facilities of the Project in place on within , 202 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 condition then the Allottee/s agrees that the Promoter/Vendor shall be entitled to the extension of time for delivery of possession of the Unit: (i) The Promoter shall endeavor to give possession of the said Unit to the Allottee(s) on or before Date of Possession specified in Schedule “A”. Provided that such Further, the Promoter shall endeavor to give possession of the said Amenities to the Allottee(s) on or before the Time Schedule of Completion specified in Schedule “A”. The Date of Possession and Time Schedule of Completion shall be subject to the provisions of the sub-clauses herein and also subject to Force Majeure conditions are not circumstances and reasons beyond the control of a nature which make it impossible for the contract to be implementedPromoter. The Allottee/s agrees and confirms that, in In the event it becomes impossible the possession is delayed beyond the date as agreed hereinabove inter alia for any reason, the Promoter/Vendor Promoter shall be entitled to implement extension of 12 [twelve] months (“Extended Duration”) for handover of possession and completion of construction. (ii) In the Project event of any delay in handing over possession of the said Unit and the said Amenities to the Allottee(s) on the Date of Possession and Time Schedule of Completion, respectively and/ or beyond the Extended Duration and/ or further extension of time for completion of construction of the said Unit and the said Amenities due to Force Majeure conditionsreasons, the Promoter shall intimate the Allottee(s) in writing the reason for such delay along with appropriate supporting documents and further time period within which the possession of the said Unit shall be handed over the Allottee(s) (“Revised Possession Date”) and the said Amenities (“Revised Time Schedule of Completion”) shall be completed. In the event, the Allottee(s) is desirous of cancelling the booking of the Unit, prior to the date of application of the occupancy certificate in respect of the said Unit, then this allotment the Allottee(s) shall stand terminated intimate the Promoter his/ her/ their non-acceptance of the Revised Possession Date and the Promoter/Vendor shall refund to the Allottee/s the entire amount received by the Promoter/Vendor from the allotment Revised Time Schedule of Completion within 45 fifteen (forty five15) days from that date. The Promoter/Vendor shall intimate the Allottee/s about date of receipt of such termination at least 30(thirty) days prior to such termination. After refund of the money paid by the Allottee/s, the Allottee/s agrees that he/she shall not have any rights, claims etc. against intimation from the Promoter/Vendor and , failing which it will be deemed that the Promoter/Vendor Allottee(s) has/ have accepted the Revised Possession Date and Revised Time Schedule of Completion and the same shall be released and discharged from all its obligations and liabilities under this Agreementbinding on the Allottee(s).

Appears in 1 contract

Samples: Sale Agreement

POSSESSION OF THE UNIT. 7.1 (i) Schedule for possession of the said Unit: The Promoter/Vendor Developer agrees and understands that timely delivery of possession of the Unit to the Allotteesub- lessee/s Allottee and the common areas to the association Association of AllotteeSub-lessee/s Allottees or the competent authority, as the case may be, is the essence of the Agreement. Provided that the Developer shall be entitled to reasonable extension of time as agreed by and between the Sub-lessee/Allottee and the Developer for giving possession of the Unit on the aforesaid date. The Promoter/Vendor Developer, based on the approved plans and specifications assures to hand over possession of the Unit along on with ready and complete common areas with all specifications, amenities and facilities a grace period of the Project in place on within , 202 six months unless there is delay or failure due to war, flood, drought, fire, cyclone, and earthquake or any other calamity caused by nature affecting the regular development of the real estate project (“Force Majeure”). Majeure”).Similarly, the Common areas will be handed over progressively on completion of each phase If, however, the completion of the Project is delayed due to the Force Majeure condition conditions then the AllotteeSub- lessee/s Allottee agrees that the Promoter/Vendor Developer shall be entitled to the extension of time for delivery of possession of the Unit. Provided that such Force Majeure conditions are not Promoter will be entitled to give unit-wise possession upon obtaining the Completion Certificate/ Partial Completion Certificate of a nature which make it impossible for the contract to be implementedCommercial building block . The Allottee/s Allottee agrees and confirms that, in the event it becomes impossible for the Promoter/Vendor Promoter to implement the Project project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter/Vendor Promoter shall refund to the Allottee/s Allottee the entire amount received by the Promoter/Vendor from the Promoter on account of allotment within 45 (forty five) days from that date. The Promoter/Vendor promoter shall intimate the Allottee/s allottee about such termination at least 30(thirty) thirty days prior to such termination. After refund of the money paid by the Allottee/s, the Allottee/s Allottee agrees that he/he/ she shall not have any rights, claims etc. against the Promoter/Vendor Promoter and that the Promoter/Vendor Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. It is clarified that in case of termination of the allotment as aforesaid, all amounts collected as taxes, charges, levies, cess, assessments and impositions and deposited with the appropriate authorities concerned shall not be returned by the Promoter and the Allottee shall be free to approach the authorities concerned for refund of such taxes, charges, levies, cess, assessments and impositions. (ii) The right of the Allottee shall remain restricted to be allotted his/her Unit, and the properties appurtenant thereto and the Allottee shall have no right, title or interest nor shall claim any right, title or interest of any kind whatsoever over and in respect of any other Unit, or space and/or any other portions of the Project or Building Block “A”. (iii) The Promoter has provided to the Allottee a time schedule for construction progress based on the milestones on which payment is due. The dates provided are only tentative and for the purpose of dealing with contractors and will also make efforts to complete various stages as per the time schedule upto completion of the Project including the provisions of civic infrastructure like water, electricity, sanitation and all other above mentioned internal/external development works but the Promoter knows there will definitely be delays in the timelines provided and in some cases it can finish early also but the Promoter assures the Allottee that the Project/Commercial Building Block will be completed within the ‘Completion date’ provided herein/in Clause 7.1 (i) above and accordingly tentative dates are mentioned in the payment plan.

Appears in 1 contract

Samples: Sub Lease Agreement

POSSESSION OF THE UNIT. 7.1 Schedule for possession of the said Unit– The Promoter/Vendor Promoter agrees and understands that timely delivery of possession of the Unit to the Allottee/s Allottee and the common areas to the association of Allottee/s allottees or the competent government authority, as the case may be, is the essence of the Agreement. The Promoter/Vendor Promoter assures to hand over possession of the Unit along with ready and complete common areas with all specifications, amenities and facilities of the Project project in place on within , 202 [specify time period] of signing of this agreement by both parties unless there is delay or failure due to war, war flood, drought, fire, fire cyclone, earthquake or any other calamity caused by nature affecting the regular development of the real estate project ("Force Majeure"), or delay due to order of any court or authority or any other circumstance which are caused not due to the fault of the Promoter. If, however, the completion of the Project is delayed due to the Force Majeure condition conditions then the Allottee/s Allottee agrees that the Promoter/Vendor Promoter shall be entitled to the extension of time for delivery of possession of the Unit. 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/s Allottee agrees and confirms that, in the event it becomes impossible for the Promoter/Vendor Promoter to implement the Project project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter/Vendor Promoter shall refund to the Allottee/s Allottee the entire amount received by the Promoter/Vendor Promoter from the allotment within 45 (forty five) days from that datewithout interest. The Promoter/Vendor promoter shall intimate the Allottee/s allottee about such termination at least 30(thirty) thirty days prior to such termination. After refund of the money paid by the Allottee/s, the Allottee/s Allottee agrees that he/she shall not have any rights, claims etc. against the Promoter/Vendor Promoter and that the Promoter/Vendor Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. That Allottee further agrees and confirms that, in the event of delay due to order of any court or any authority or any other circumstance which are caused not due to the fault of the Promoter, the period of such delay shall be excluded from the agreed time period of possession of the unit. The promoter shall hand over the completion/occupancy certificate of the Project, to the Allottee as and when it is received from the competent government authority. At the time of handing over the possession, the Allottee shall thoroughly inspect the Unit in respect of all the dimensions, workmanship of the infrastructure and satisfy himself/herself/themselves/ itself in respect of all the deliverables and the provisions are intact and in place and no further complaint in this regard shall be covered/ entertained thereafter. That to maintain good cordial relationship between the promoter and allottee the amount of compensation for delay in possession of unit as agreed between both the parties shall be .

Appears in 1 contract

Samples: Sale Agreement

POSSESSION OF THE UNIT. 7.1 Schedule for possession of the said Unit. The Promoter/Vendor Promoter agrees and understands that timely delivery of possession of the Unit to the Allottee/s Allottee(s) and the common areas to the association of Allottee/s Allottee(s) 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/Vendor Promoter assures to hand over possession of the Unit along with ready as per agreed terms and complete common areas with all specifications, amenities and facilities conditions within a period of 60 months plus a grace period of 24 months from the Project in place on within , 202 date of execution of this agreement unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature nature, Court orders, Government policy/ guidelines, NGT / Any government department’s/ regulatory authority’s action/ inaction/ or omission/ decisions affecting the regular development of the real estate project (the Force Majeureforce majeure”). If, however, If the completion of the Project is delayed due to the Force Majeure condition above conditions, then the Allottee/s Allottee(s) agrees that the Promoter/Vendor Promoter shall be entitled to the extension of time for delivery of possession of the Unit. Provided that Unit for such Force Majeure conditions are period and the promoter shall not of a nature which make it impossible for the contract be liable to be implementedpay any penalty/ interest/ compensation etc. The Allottee/s Allottee(s) agrees and confirms that, in the event it becomes impossible for the Promoter/Vendor Promoter to implement the Project project due to Force Majeure and above mentioned conditions, then this agreement/ allotment shall stand terminated and the Promoter/Vendor shall Promoter refund to the Allottee/s Allottee(s), the entire amount received by the Promoter/Vendor Promoter from the Allottee(s) within ninety days or with the consent of the allottee, Alternatively the promoter can give an option to the Allottee(s) for allotment within 45 (forty five) days from that dateof the Unit in any other location/ project. The Promoter/Vendor promoter shall intimate the Allottee/s Allottee(s) about such termination at least 30(thirty) thirty days prior to such termination. After allotment of alternate Unit/ refund of the money as paid by the Allottee/sAllottee(s), the Allottee/s Allottee(s) agrees that he/he/ she shall not have any rights, claims etc. against the Promoter/Vendor Promoter and that the Promoter/Vendor Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. (A) Procedure for taking possession of Unit- The Promoter, upon obtaining the completion/ occupation certificate (or part thereof) of w.r.t. Area/ building blocks in the “project” shall offer in writing the possession of the “Unit” within 15 days from the date of approval of completion/ occupation certificate (or part thereof) 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 copy (on demand) of completion/ occupation certificate (or part thereof) in respect of "project" usage along with parking (if applicable) at the time of conveyance of the same. The Allottee(s), upon taking possession, agree(s) to pay the maintenance charges and holding charges as determined by the Promoter/ association of Allottee(s)/ competent authority, as the case may be. The Allottee(s) shall make payment of all dues, interest (if any), maintenance security (as applicable) etc., to the Promoter within due date as specified in the letter of offer of possession and within three months from clearance of all dues and simultaneously the Allottee(s) shall get conveyance of his Unit done from the Promoter by getting the conveyance deed/sale deed registered before the concerned Sub Registrar and thereafter take physical possession of the Unit. The date of issue of Completion/ Occupancy Certificate (or part thereof) shall be treated as Deemed Date of Possession of the area for which it is issued; the Allottee(s) shall be liable to pay the maintenance charges as determined by the Promoter/ Owners Association/ Maintenance agency, competent authority (as the case may be). The Promoter shall handover the copy of Completion/ Occupancy Certificate of the project to the Allottee(s) at the time of conveyance deed of the Unit. The Promoter agrees and undertakes to indemnify the Allottee(s) in case of failure of fulfillment of any of the provisions, formalities, documentation on the part of the Promoter which the Promoter is liable to comply/ carry out as per the Applicable Laws provided such failure is not on account of reasons beyond the controls of Promoter and/ or on account of any default/ delays on the part of the Allottee(s). The Allottee(s) shall be solely responsible and liable for compliance of the provisions of Indian Stamp Act, 1899, Haryana Stamp Act and Xxxxxxxxxxxx Xxx, 0000 including any actions taken or deficiencies/penalties imposed by the competent authority. The Promoter shall not be responsible for any damage caused to the Unit on account of delay on the part of the Allottee(s) in taking over possession and in such event the Allottee(s) shall have to take possession of the same on “as is where is basis”. The Promoter shall not be held responsible in any manner for any future mishaps like fire, earthquake, flood etc. OR any accident caused due to any of machineries installed like electrical equipment, and transformer, etc.

Appears in 1 contract

Samples: Sale Agreement

POSSESSION OF THE UNIT. 7.1 Schedule for possession of the said Unit. The Promoter/Vendor Promoter agrees and understands that timely delivery of possession of the Unit to the Allottee/s Allottee(s) and the common areas to the association of Allottee/s Allottee(s) or the competent authority, as the case may be, is as provided underRule2(1)(f)ofRules,2017,is the essence of the Agreement. The Promoter/Vendor Promoter assures to hand over possession of the Unit along with ready as per agreed terms and complete common areas with all specifications, amenities and facilities conditions within a period of 24 months plus a grace period of 6 months from the Project in place on within , 202 date of execution of this agreement unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature nature, Court orders, any action/ in -action by the concerned dept/ regulatory authority/ Government policy/ guidelines, NGT, and /or any other situations/ decisions affecting the regular development of the real estate project (the Force Majeureforce majeure”). If, however, If the completion of the Project is delayed due to the Force Majeure condition above conditions, then the Allottee/s Allottee(s) agrees that the Promoter/Vendor Promoter shall be entitled to the extension of time for delivery of / possession of the UnitUnit and the promoter shall not be liable to pay any penalty/ interest/ compensation etc. Provided that Also if the developer is unable to construct/ continue or complete the construction of the Apartment due to any of the above, the developer may in its sole discretion challenge the same by moving to the appropriate Court/ Tribunal and/or authority. In such Force Majeure conditions a situation, the Allottee(s) may join as an effected party in any suit/ compliant/ Writ/ PIL filled before any appropriate Court by the Developer/ Allottee(s) or any other third party, if the developers writes under this agreement are likely to be affected/ prejudice in any manner by the decision of the court on such suit/ compliant/ Writ/ PIL. However, during the subsistence/ continuance of suit/ compliant/ Writ/ PIL, the amount paid by the / Allottee(s) shall remain with the Developers and the / Allottee(s) shall not have a right to terminate this agreement and ask for refund of a nature which make it impossible his money & this Agreement shall remain abeyance till final decision/ judgment by the Court(s)/ Tribunal(s)/ Authority(ies). In eventuality or delays in obtaining OC from concerned department, the promoter can offer hand over of the unit for the contract to be implementedpurpose of fit-outs. The Allottee/s Allottee(s) agrees and confirms that, in the event it becomes impossible for the Promoter/Vendor Promoter to implement the Project project due to Force Majeure and above mentioned conditions, then this allotment shall stand terminated and the Promoter/Vendor shall Promoter refund to the Allottee/s Allottee(s), the entire amount received by the Promoter/Vendor Promoter from the Allottee(s) within ninety days or with the consent of the allottee, can give an option to the Allottee(s) for allotment within 45 (forty five) days from that dateof unit in any other tower/ project. The Promoter/Vendor promoter shall intimate the Allottee/s Allottee(s) about such termination at least 30(thirty) thirty days prior to such termination. After allotment of alternate Unit/ refund of the money as paid by the Allottee/sAllottee(s), the Allottee/s Allottee(s) agrees that he/he/ she shall not have any rights, claims etc. against the Promoter/Vendor Promoter and that the Promoter/Vendor Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. (A) Procedure for taking possession of built-up Unit - The Promoter, upon obtaining the occupation certificate or part thereof of building blocks in respect to the “project” shall offer in writing the possession of the “Unit” within 15 days from the date of above approval occupation certificate or part thereof to the Allottee(s) as per terms of this Agreement.

Appears in 1 contract

Samples: Agreement to Sell

POSSESSION OF THE UNIT. 7.1 Schedule for possession of the said UnitUNIT– The Promoter/Vendor Promoter agrees and understands that timely delivery of possession of the Unit UNIT to the Allottee/s allottee and the common areas to the association of Allottee/s allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter/Vendor Promoter assures to hand over possession of the Unit along UNITalong with ready and complete common areas with all specifications, amenities and facilities of the Project project in place on within , 202 onOR before31 December 2018 unless there is delay or failure due to war, war flood, drought, fire, fire cyclone, earthquake or any other calamity caused by nature affecting the regular development of the real estate project ("Force Majeure"). . 7.2 If, however, the completion of the Project is delayed due to the Force Majeure condition conditions then the Allottee/s Allottee agrees that the Promoter/Vendor Promoter shall be entitled to the extension of time for delivery of possession of the Unit. Provided UNIT, provided that such Force Majeure conditions are not of a nature nature, which make it impossible for the contract to be implemented. . 7.3 The Allottee/s Allottee agrees and confirms that, in the event it becomes impossible for the Promoter/Vendor Promoter to implement the Project project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter/Vendor Promoter shall refund to the Allottee/s t he Allottee the entire amount received by the Promoter/Vendor Promoter from the allotment within 45 (forty five) days from that date. The Promoter/Vendor promoter shall intimate the Allottee/s allottee about such termination at least 30(thirty) thirty days prior to such termination. . 7.4 After refund of the money paid by the Allottee/s, the Allottee/s Allottee agrees that he/he/ she shall not have any rights, claims etc. against the Promoter/Vendor Promoter and that the Promoter/Vendor Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. 7.5 That the completion period mentioned here above is in respect of the particular unit and cannot be treated either as a date of completion for whole building or part of the township or township as a whole. It is however understood between the parties that the possession of various other units comprised in the project and the various common facilities planned therein shall be ready & completed in phases. i. The Allottee agrees to take possession of the said unit, though the development of common facilities is still underway. ii. The Promoter agrees a nd undertakes to indemnity the Allottee in case of failure of fulfillment of any of the provisions, formalitiesand documentation on part of the Promoter. iii. 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 taking the Possession of the said unit. 7.6 The promoter shall hand over the completion or occupancy certificate of the Project, to the allottee as and when it is received from the competent authority. 7.7 At the time of handing over the possession, the allottee shall thoroughly inspect the apartment in respect of all the fitments, installations, workmanshi p satisfied himself/ herself/ themselves in respect of all the installations and the provisions are intact and in place and no further complaint in this regard shall be covered/ entertained thereafter.

Appears in 1 contract

Samples: Agreement for Sale

POSSESSION OF THE UNIT. 7.1 Schedule for possession of the said Unit– Unit - The Promoter/Vendor Promoter agrees and understands that timely delivery of possession of the Unit to the Allottee/s allottee and the common areas to the association of Allottee/s allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter/Vendor Promoter assures to hand over possession of the Unit along with ready and complete common areas with all specifications, amenities and facilities of the Project project in place on within from date of registered agreement, 202 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 condition conditions then the Allottee/s Allottee agrees that the Promoter/Vendor Promoter shall be entitled to the extension of time for delivery of possession of the Unit. 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/s Allottee agrees and confirms that, in the event it becomes impossible for the Promoter/Vendor Promoter to implement the Project project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter/Vendor Promoter shall refund to the Allottee/s Allottee the entire amount received by the Promoter/Vendor Promoter from the allotment within 45 (forty five) 60 days from that date. The Promoter/Vendor promoter shall intimate the Allottee/s allottee about such termination at least 30(thirty) thirty days prior to such termination. After refund of the money paid by the Allottee/s, the Allottee/s Allottee agrees that he/he/ she shall not have any rights, claims etc. against the Promoter/Vendor Promoter and that the Promoter/Vendor Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. 7.2 Procedure for taking possession- The Promoter, upon obtaining the occupancy certificate from the competent authority shall offer in writing the possession of the Unit, to the Allottee in terms of this Agreement to be taken within two months from 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 occupancy certificate]. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfilment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee, after taking possession, agree(s) to pay the maintenance charges as determined by the Association of allottees, as the case may be after the issuance of the completion certificate for the particular Unit & the project. The promoter shall hand over the completion certificate of the project development, as the case may be, to the allottee at the time of conveyance of the same.

Appears in 1 contract

Samples: Agreement for Sale

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POSSESSION OF THE UNIT. 7.1 Schedule for possession of the said Unit– Apartment / Unit : The Promoter/Vendor Promoter agrees and understands that timely delivery of possession of the Unit to the Allottee/s and the common areas to the association of Allottee/s 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 Unit along Apartment on or before 31st December 2025, with ready and complete common areas with all specificationsan additional grace period of 12 (twelve) months, amenities and facilities of the Project in place on within , 202 unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake earthquake, court order, pandemic / epidemic or any other calamity caused by nature or other causes 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 condition conditions (as defined in the Act) then the Allottee/s Allottee agrees that the Promoter/Vendor Promoter shall be entitled to the extension of time for delivery of possession of the Apartment / Unit. , Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee/s Allottee agrees and confirms that, in the event it becomes impossible for the Promoter/Vendor Promoter to implement the Project project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter/Vendor Promoter shall refund to the Allottee/s Allottee the entire amount received by the Promoter/Vendor Promoter from the allotment within 45 (forty five) days from that date. The Promoter/Vendor shall intimate the Allottee/s about such termination at least 30(thirty) days prior to such termination. After refund of the money paid by the Allottee/s, the Allottee/s Xxxxxxxx agrees that he/she shall not have any rights, claims etc. against the Promoter/Vendor Promoter and that the Promoter/Vendor Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. / Unit to the Allottee Provided that, in the absence of local law, the conveyance deed in favour of the Allottee shall be carried out by the Promoter within three months from the date of issue of occupancy / completion certificate Subject To the terms of the Agreement and the Allottee making payment of the entire balance consideration and all other amounts and deposits payable by the Allottee to the Promoter hereunder and fulfilling all his other covenants / obligations herein. Provided Further That the Promoter shall not be liable to deliver possession of the Apartment / Unit to the Allottee nor to execute or cause to be executed any Sale Deed or other instruments until such time the Allottee makes payment of all amounts agreed and required to be paid hereunder by the Allottee and the Allottee has fully performed all the terms conditions and covenants of this Agreement and on the part of the Allottee to be observed and performed until then. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on the part of the Promoter. The Allottee, agree(s) to pay the maintenance charges as determined by the Promoter/ association of allottees, as the case may be. The Promoter shall offer the possession to the Allottee in writing within after receiving the completion / occupancy certificate, as applicable, of the Project or part thereof. It is clarified that the Promoter shall be deemed to have duly complied with all its obligations in case the Promoter issues notice of completion to the Allottee on or before the date mentioned in Clause 7.1 above. It is further agreed that even prior to completion of the said Apartment / Unit in the manneraforesaid, in case the Allottee desires to simultaneously carry out its fit-outs therein, then the Allottee may be permitted to carry out the same if the Promoter agrees to the same, and in such event the Allottee shall be liable to pay the entire balance consideration and all other amounts and deposits payable by the Allottee to the Promoter hereunder prior thereto. Duringsuch fit-out period, the Allottee shall be liable for payment of charges for various utilities likeelectricity generator water lifts etc., as be determined by the Promoter.

Appears in 1 contract

Samples: Sale Agreement

POSSESSION OF THE UNIT. 7.1 Schedule for possession of the said Unit: The Promoter/Vendor Promoter agrees and understands that timely delivery of possession of the Row House or the Town House Unit to the Allottee/s Allottee and the common areas Common Areas to the association Association of Allottee/s or the competent authority, as the case may beAllottees, is the essence of the Agreement. The Promoter/Vendor Promoter assures to hand over possession of the Row House or the Town House Unit along with ready and complete common areas with all specifications, amenities and facilities of the Project specifications in place on within 31st October 2028 with a grace period of six months (Completion date). Similarly, 202 the Common areas will be handed over progressively on completion of each phase unless there is a delay or failure due to war, flood, drought, fire, cyclone, ,earthquake or any other calamity calamity, order, rule, notification of the government and/or other public or competent authority/court and/or caused by nature affecting the regular development of the real estate project (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure condition conditions then the Allottee/s Allottee agrees that the Promoter/Vendor Promoter shall be entitled to the extension of time for delivery of possession of the Unit. Unit and the same shall not include the period of extension given by the Authority for registration, Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. Promoter will be entitled to give block-wise and phase-wise possession upon obtaining the Completion Certificate/ Partial Completion Certificate of a building block or a particular phase as the case may be irrespective of the fact that construction of other Blocks and/or other phases and/or provision of facilities /Amenities may be incomplete. The Allottee/s Allottee agrees and confirms that, in the event it becomes impossible for the Promoter/Vendor Promoter to implement the Project project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter/Vendor Promoter shall refund to the Allottee/s Allottee the entire amount received by the Promoter/Vendor Promoter from the allotment within 45 (forty five) days from that date. The Promoter/Vendor promoter shall intimate the Allottee/s allottee about such termination at least 30(thirty) thirty days prior to such termination. After refund of the money paid by the Allottee/s, the Allottee/s Allottee agrees that he/he/ she shall not have any rights, claims etc. against the Promoter/Vendor Promoter and that the Promoter/Vendor Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. It is clarified that all amounts collected as taxes, charges, levies, cess, assessments and impositions and deposited with the appropriate authorities concerned shall not be returned by the Promoter and the Allottee shall be free to approach the authorities concerned for refund of such taxes, charges, levies, cess, assessments and impositions. PROCEDURE FOR TAKING POSSESSION- (i) The Promoter, upon obtaining the occupancy certificate/Completion Certificate/Partial Completion Certificate from the Competent Authority shall offer in writing the possession of the Row House or the Town House Unit, to the Allottee in terms of this Agreement to be taken within 2 (two) months from the date of issue of such certificate (Provided that , in the absence of local law the Conveyance Deed in favor of the Allottee shall be carried out by the Promoter within 3 months from the date of issue of Occupancy Certificate/Completion Certificate/Partial Completion Certificate as the case may be). However, upon the Promoter giving a written notice, the Promoter shall give and the Allottee shall take possession of the Row House or the Town House Unit within 15 (fifteen) days of the written notice. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee agree(s) to pay the maintenance charges as determined by the Promoter/Association of Allottees, as the case may be. The Promoter on its behalf shall offer the possession to the Allottee in writing after receiving the occupancy certificate/ completion certificate (notice of possession). The Promoter shall hand over the photocopy of the Completion Certificate of the Project to the Allottee at the time of conveyance of the same.

Appears in 1 contract

Samples: Agreement for Sale

POSSESSION OF THE UNIT. 7.1 Schedule for possession of the said UnitUnit – The Promoter/Vendor Promoter agrees and understands that timely delivery of possession of the Unit to the Allottee/s allottee and the common areas to the association of Allottee/s allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter/Vendor Promoter assures to hand over possession of the Unit along with ready and complete common areas with all specifications, amenities and facilities of the Project project in place on within , 202 or before 31 July 2021 unless there is delay or failure due to war, war flood, drought, fire, fire cyclone, earthquake or any other calamity caused by nature affecting the regular development of the real estate project ("Force Majeure"). . 7.2 If, however, the completion of the Project is delayed due to the Force Majeure condition conditions then the Allottee/s Allottee agrees that the Promoter/Vendor Promoter shall be entitled to the extension of time for delivery of possession of the Unit. Provided , provided that such Force Majeure conditions are not of a nature nature, which make it impossible for the contract to be implemented. . 7.3 The Allottee/s Allottee agrees and confirms that, in the event it becomes impossible for the Promoter/Vendor Promoter to implement the Project project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter/Vendor Promoter shall refund to the Allottee/s Allottee the entire amount received by the Promoter/Vendor Promoter from the allotment within 45 (forty five) days from that date. The Promoter/Vendor promoter shall intimate the Allottee/s allottee about such termination at least 30(thirty) thirty days prior to such termination. . 7.4 After refund of the money paid by the Allottee/s, the Allottee/s Allottee agrees that he/she shall not have any rights, claims etc. against the Promoter/Vendor Promoter and that the Promoter/Vendor Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. 7.5 That the completion period mentioned here above is in respect of the particular unit and cannot be treated either as a date of completion for whole row, part of the township or township as a whole. It is however understood between the parties that the possession of various other units comprised in the project and the various common facilities planned therein shall be ready & completed in phases. i. The Allottee agrees to take possession of the said unit, though the development of common facilities is still underway. ii. The Promoter agrees and undertakes to indemnity the Allottee in case of failure of fulfillment of any of the provisions, formalities and documentation on part of the Promoter. iii. 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 taking the Possession of the said unit. 7.6 The promoter shall hand over the completion/occupancy certificate of the Project, to the allottee as and when it is received from the competent authority. 7.7 At the time of handing over the possession, the allottee shall thoroughly inspect the Unit in respect of all the fitments, installations, workmanship satisfied himself/herself/themselves in respect of all the installations and the provisions are intact and in place and no further complaint in this regard shall be covered/ entertained thereafter.

Appears in 1 contract

Samples: Sale Agreement

POSSESSION OF THE UNIT. 7.1 a. Schedule for possession of the said Unit– The Promoter/Vendor agrees and understands that timely delivery of possession of the Unit to the Allottee/s and the common areas to the association of Allottee/s or the competent authority, as the case may be, is the essence of the Agreement. The Promoter/Vendor assures to hand over possession of the Unit along with ready and complete common areas with all specifications, amenities and facilities of the Project in place on within , 202 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 condition then the Allottee/s agrees that the Promoter/Vendor shall be entitled to the extension of time for delivery of possession of the Unit: (i) The Promoter shall endeavor to give possession of the said Unit to the Allottee(s) on or before Date of Possession specified in Schedule “A”. Provided that such Further, the Promoter shall endeavor to give possession of the said Amenities to the Allottee(s) on or before the Time Schedule of Completion specified in Schedule “A”. The Date of Possession and Time Schedule of Completion shall be subject to the provisions of the sub-clauses herein and also subject to Force Majeure conditions are not circumstances and reasons beyond the control of a nature which make it impossible for the contract to be implementedPromoter. The Allottee/s agrees and confirms that, in In the event it becomes impossible the possession is delayed beyond the date as agreed hereinabove inter alia for any reason, the Promoter/Vendor Promoter shall be entitled to implement extension of 12 [twelve] months (“Extended Duration”) for handover of possession and completion of construction. (ii) In the Project event of any delay in handing over possession of the said Unit and the said Amenities to the Allottee(s) on the Date of Possession and Time Schedule of Completion, respectively and/ or beyond the Extended Duration and/ or further extension of time for completion of construction of the said Unit and the said Amenities due to Force Majeure conditionsreasons, the Promoter shall intimate the Allottee(s) in writing the reason for such delay along with appropriate supporting documents and further time period within which the possession of the said Unit shall be handed over the Allottee(s) (“Revised Possession Date”) and the said Amenities (“Revised Time Schedule of Completion”) shall be completed. In the event, the Allottee(s) is desirous of cancelling the booking of the Unit, prior to the date of application of the completion certificate in respect of the said Unit, then this allotment the Allottee(s) shall stand terminated intimate the Promoter his/ her/ their non-acceptance of the Revised Possession Date and the Promoter/Vendor shall refund to the Allottee/s the entire amount received by the Promoter/Vendor from the allotment Revised Time Schedule of Completion within 45 fifteen (forty five15) days from that date. The Promoter/Vendor shall intimate the Allottee/s about date of receipt of such termination at least 30(thirty) days prior to such termination. After refund of the money paid by the Allottee/s, the Allottee/s agrees that he/she shall not have any rights, claims etc. against intimation from the Promoter/Vendor and , failing which it will be deemed that the Promoter/Vendor Allottee(s) has/ have accepted the Revised Possession Date and Revised Time Schedule of Completion and the same shall be released and discharged from all its obligations and liabilities under this Agreementbinding on the Allottee(s).

Appears in 1 contract

Samples: Sale Agreement

POSSESSION OF THE UNIT. 7.1 Schedule for possession of the said UnitUnit – The Promoter/Vendor Promoter agrees and understands that timely delivery of possession of the Unit to the Allottee/s and the common areas to the association of Allottee/s or the competent authority, as the case may be, Allottee(s) is the essence of the Agreement. The Promoter/Vendor Promoter assures to hand over handover possession of (a) Villas constructed 7.2 Procedure for taking possession- The Promoter, upon completion of the Building shall vide offer letter (“Offer Letter”) offer in writing the possession of the Unit, to the Allottee(s) in terms of this Agreement. Within 30 days of the date of offer of possession given to the Allottee(s) by the Promoter, the Allottee(s) shall make payment of all dues, outstanding, interest, if any, maintenance security etc. to the Promoter and within 50 days from clearance of entire dues, outstanding charges, if any, the Allottee(s) shall take physical possession of the Unit along with ready and complete common areas with all specificationssimultaneously get conveyance of his Unit done from the Promoter by getting the conveyance deed/sale deed/sub lease deed registered before the Sub Registrar, amenities and facilities Jaipur. After expiry of 3 (Three) full calendar months from the Project in place on within , 202 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 date of the real estate project (“Force Majeure”). If, howevercompletion certificate, the completion of the Project is delayed due to the Force Majeure condition then the Allottee/s agrees that the Promoter/Vendor Allottee(s) shall be entitled liable to pay the extension of time for delivery of possession of the Unit. Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee/s agrees and confirms that, in the event it becomes impossible for the Promoter/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/s the entire amount received maintenance charges as determined by the Promoter/Vendor from Owners Association/Maintenance Agency, as the allotment within 45 (forty five) days from that datecase may be. The Promoter/Vendor shall intimate Promoter agrees and undertakes to indemnify the Allottee/s about such termination at least 30(thirtyAllottee(s) days prior to such termination. After refund in case of failure of fulfillment of any of the money paid provisions, formalities, documentation on part of the Promoter which the Promoter is liable to comply/carry out as per the Applicable Laws provided such failure is not on account of reasons beyond the controls of Promoter and/or on account of any default/delay on the part of the Allottee(s). The Allottee(s) shall be solely responsible and liable for compliance of the provisions of Indian Stamp Act, 1899, Rajasthan Xxxxx Xxx, 0000 and Xxxxxxxxxxxx Xxx, 0000 including any actions taken or deficiencies/penalties imposed by the Allottee/s, the Allottee/s agrees that he/she competent authority. The Promoter shall not be responsible for any damage caused to the Unit on account of delay on the part of the Allottee(s) in taking over possession and in such event the Allottee(s) shall have to take possession of the same on “as is where is basis”. The Promoter shall not be held responsible in any rightsmanner for any future mishaps like fire, claims earthquake, flood etc. against the Promoter/Vendor OR any accident caused due to any of machineries installed like electrical equipment, and that the Promoter/Vendor shall be released and discharged from all its obligations and liabilities under this Agreementtransformer, etc.

Appears in 1 contract

Samples: Agreement for Sale

POSSESSION OF THE UNIT. 7.1 Schedule for possession of the said UnitUnit – The Promoter/Vendor Promoter agrees and understands that timely delivery of possession of the Unit to the Allottee/s allottee and the common areas to the association of Allottee/s allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter/Vendor Promoter assures to hand over possession of the Unit along with ready and complete common areas with all specifications, amenities and facilities of the Project project in place on within , 202 or before 1 August 2019 unless there is delay or failure due to war, war flood, drought, fire, fire cyclone, earthquake or any other calamity caused by nature affecting the regular development of the real estate project ("Force Majeure"). . 7.2 If, however, the completion of the Project is delayed due to the Force Majeure condition conditions then the Allottee/s Allottee agrees that the Promoter/Vendor Promoter shall be entitled to the extension of time for delivery of possession of the Unit. Provided , provided that such Force Majeure conditions are not of a nature nature, which make it impossible for the contract to be implemented. . 7.3 The Allottee/s Allottee agrees and confirms that, in the event it becomes impossible for the Promoter/Vendor Promoter to implement the Project project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter/Vendor Promoter shall refund to the Allottee/s Allottee the entire amount received by the Promoter/Vendor Promoter from the allotment within 45 (forty five) days from that date. The Promoter/Vendor promoter shall intimate the Allottee/s allottee about such termination at least 30(thirty) thirty days prior to such termination. . 7.4 After refund of the money paid by the Allottee/s, the Allottee/s Allottee agrees that he/she shall not have any rights, claims etc. against the Promoter/Vendor Promoter and that the Promoter/Vendor Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. 7.5 That the completion period mentioned here above is in respect of the particular unit and cannot be treated either as a date of completion for whole row, part of the township or township as a whole. It is however understood between the parties that the possession of various other units comprised in the project and the various common facilities planned therein shall be ready & completed in phases. i. The Allottee agrees to take possession of the said unit, though the development of common facilities is still underway. ii. The Promoter agrees and undertakes to indemnity the Allottee in case of failure of fulfillment of any of the provisions, formalities and documentation on part of the Promoter. iii. 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 taking the Possession of the said unit. 7.6 The promoter shall hand over the completion/occupancy certificate of the Project, to the allottee as and when it is received from the competent authority. 7.7 At the time of handing over the possession, the allottee shall thoroughly inspect the Unit in respect of all the fitments, installations, workmanship satisfied himself/herself/themselves in respect of all the installations and the provisions are intact and in place and no further complaint in this regard shall be covered/ entertained thereafter.

Appears in 1 contract

Samples: Sale Agreement

POSSESSION OF THE UNIT. 7.1 Schedule for possession of the said Unit– Unit - The Promoter/Vendor Promoter agrees and understands that timely delivery of possession of the Unit to the Allottee/s Allottee and the common areas to the association of Allottee/s Allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter/Vendor Promoter assures to hand over possession of the Unit along with ready and complete common areas with all specifications, amenities and facilities of the Project in place on within , 202 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 Project (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure condition conditions then the Allottee/s Allottee agrees that the Promoter/Vendor Promoter shall be entitled to the extension of time for delivery of possession of the Unit. Provided , provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee/s Allottee agrees and confirms that, in the event it becomes impossible for the Promoter/Vendor Promoter to implement the Project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter/Vendor Promoter shall refund to the Allottee/s Allottee the entire amount received by the Promoter/Vendor Promoter from the allotment within 45 (forty five) days from that date. The Promoter/Vendor promoter shall intimate the Allottee/s Allottee about such termination at least 30(thirty) thirty days prior to such termination. After refund of the money paid by the Allottee/s, the Allottee/s Allottee agrees that he/he/ she shall not have any rights, claims etc. against the Promoter/Vendor Promoter and that the Promoter/Vendor Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. 7.2 Procedure for taking possession - The Promoter, upon obtaining the occupancy certificate* from the competent authority shall offer in writing the possession of the Unit, to the Allottee in terms of this Agreement to be taken within two months from 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 occupancy certificate]. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee, after taking possession, agree(s) to pay the maintenance charges as determined by the Promoter/association of Allottees, as the case may be after the issuance of the completion certificate for the Project. The promoter shall hand over the occupancy certificate of the Unit, as the case may be, to the Allottee at the time of conveyance of the same.

Appears in 1 contract

Samples: Sale Agreement

POSSESSION OF THE UNIT. 7.1 Schedule for possession of the said Unit: The Promoter/Vendor Promoter agrees and understands that timely delivery of possession of the Unit to the Allottee/s Allottee and the common areas to the association Association of Allottee/s Allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter/Vendor , based on approved plans and specifications, assures to hand over possession of the Unit along with ready and complete common areas with all specifications, amenities and facilities of the Project in place on within 31st March, 202 2027, unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature affecting the regular development of the real estate project (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure condition conditions then the Allottee/s Allottee agrees that the Promoter/Vendor Promoter shall be entitled to the extension of time for delivery of possession of the Unit. Provided , provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee/s Allottee agrees and confirms that, in the event it becomes impossible for the Promoter/Vendor Promoter to implement the Project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter/Vendor Promoter shall refund to the Allottee/s Allottee the entire amount received by the Promoter/Vendor Promoter from the allotment within 45 (forty five) days from that date. The Promoter/Vendor shall intimate the Allottee/s about such termination at least 30(thirty) days prior to such termination. After refund of the money paid by the Allottee/s, the Allottee/s Allottee agrees that he/she shall not have any rights, claims etc. against the Promoter/Vendor Promoter and that the Promoter/Vendor 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 or completion certificate (which may be partial), whichever be applicable, from the competent authority shall offer in writing the possession of the Unit, to the Allottee in terms of this Agreement to be taken within 3 (three) months from the date of issue of such notice and the Promoter shall give possession of the Unit to the Allottee. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee, agree(s) to pay the maintenance charges as determined by the Promoter/Association of Allottees, as the case may be. The Promoter on its behalf shall offer the possession to the Allottee in writing within 90 (ninety) days of receiving the occupancy certificate of the Project.

Appears in 1 contract

Samples: Sale Agreement

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