Common use of RESTRICTION ON ALIENATION BEFORE POSSESSION Clause in Contracts

RESTRICTION ON ALIENATION BEFORE POSSESSION. 7.1 The Purchaser shall not be entitled to transfer or assign the benefits/rights of the Purchasers under this agreement or nominate any person for acquiring the said unit till such time the Deed of conveyance in respect of the said Unit is executed and registered in favour of the purchaser and if the purchaser shall desire to transfer and assign the purchaser’s right hereunder or nominate any person for acquiring the said Unit/Units before the execution and registration of Deed of Conveyance the Purchaser shall be entitled to do so only with the pre granted written consent of the Developer and upon the payment of the Charges of Rs.50 per sq. ft. Plus G.S.T of total area as mentioned in Second Schedule (hereinafter referred to as the Transfer Charges) to the Developer. Such transfer shall be allowed only with the written undertaking of the third party/ transferee to observe/ fulfill the obligations under this agreement.

RESTRICTION ON ALIENATION BEFORE POSSESSION. 7.1 8.1 The Purchaser shall not be entitled to transfer or assign the benefits/rights of the Purchasers under this agreement or nominate any person for acquiring the said unit till such time the Deed of conveyance in respect of the said Unit is executed and registered in favour of the purchaser and if the purchaser shall desire to transfer and assign the purchaser’s right hereunder or nominate any person for acquiring the said Unit/Units before the execution and registration of Deed of Conveyance the Purchaser shall be entitled to do so only with the pre granted written consent of the Developer and upon the payment of the Charges of Rs.50 a sum of Rs. (Rupees ) per sq. ft. Plus G.S.T ft of total the built up area as mentioned in Second Schedule of the unit (hereinafter referred to as the Transfer Charges) to the Developer. Such transfer shall be allowed only with the written undertaking of the third party/ transferee to observe/ fulfill fulfil the obligations under this agreement.

RESTRICTION ON ALIENATION BEFORE POSSESSION. 7.1 8.1 The Purchaser shall not be entitled to transfer or assign the benefits/rights of the Purchasers under this agreement or nominate any person for acquiring the said unit till such time the Deed of conveyance in respect of the said Unit is executed and registered in favour of the purchaser and if the purchaser shall desire to transfer and assign the purchaser’s purchaser‟s right hereunder or nominate any person for acquiring the said Unit/Units before the execution and registration of Deed of Conveyance the Purchaser shall be entitled to do so only with the pre granted written consent of the Developer and upon the payment of the Charges of Rs.50 per sq. ft. 5% (Five Percent) Plus G.S.T of total area as mentioned in Second Schedule value of the flat (hereinafter referred to as the Transfer Charges) to the Developer. Such transfer shall be allowed only with the written undertaking of the third party/ transferee to observe/ fulfill the obligations under this agreement.