EVENTS OF DEFAULTS AND CONSEQUENCES. 9.1 Subject to the Force Majeure clause, the Promoter shall be considered under a condition of Default, in the following events:
(i) Promoter fails to provide ready to move in possession of the [Apartment/Plot] to the Allottee within the time period specified in para 7.1 or fails to complete the project within the stipulated time disclosed at the time of registration of the project with the Authority. For the purpose of this para, 'ready to move in possession' shall mean that the apartment shall be in a habitable condition which is complete in all respects including the provision of all specifications, amenities and facilities, as agreed to between the parties, and for which occupation certificate and completion certificate, as the case may be, has been issued by the competent authority;
(ii) Discontinuance of the Promoter’s business as a developer on account of suspension or revocation of his registration under the provisions of the Act or the rules or regulations made the re under.
9.2 In case of Default by Promoter under the conditions listed above, Allottee is entitled to the following:
(i) Stop making further payments to Promoter as demanded by the Promoter. If the Allottee stops making payments, the Promoter shall correct the situation by completing the construction milestones and only thereafter the Allottee be required to make the next payment without any interest; or
(ii) The Allottee shall have the option of terminating the Agreement in which case the Promoter shall be liable to refund the entire money paid by the Allottee under any head whatsoever towards the purchase of the apartment, along with interest at the rate prescribed in the Rules within forty-five days of receiving the termination notice: Provided that where an Allottee does not intend to withdraw from the project or terminate the Agreement, he shall be paid, by the promoter, interest at the rate prescribed in the Rules, for every month of delay till the handing over of the possession of the [Apartment/Plot], which shall be paid by the promoter to the allottee within forty-five days of it becoming due.
9.3 The Allottee shall be considered under a condition of Default, on the occurrence of the following events:
(i) In case the Allottee fails to make payments for consecutive demands made by the Promoter as per the Payment Plan annexed hereto, despite having been issued notice in that regard the allottee shall be liable to pay interest to the promoter on the unpaid amount at the rate pre...
EVENTS OF DEFAULTS AND CONSEQUENCES. Subject to the Force Majeure clause, the Promoter shall be considered under a condition of Default, in the following events:
(i) Promoter fails to provide ready to move in possession of the [Apartment/Plot] to the Allottee within the time period specified. For the purpose of this clause, 'ready to move in possession' shall mean that the apartment shall be in a habitable condition which is complete in all respects;
(ii) Discontinuance of the Promoter's business as a developer on account of suspension or revocation of his registration under the provisions of the Act or the rules or regulations made thereunder. In case of Default by Promoter under the conditions listed above, Allottee is entitled to the following:
(i) Stop making further payments to Promoter as demanded by the Promoter. If the Allottee stops making payments, the Promoter shall correct the situation by completing the construction milestones and only thereafter the Allottee be required to make the next payment without any penal interest; or
(ii) The Allottee shall have the option of terminating the Agreement in which case the Promoter shall be liable to refund the entire money paid by the Allottee under any head whatsoever towards the purchase of the apartment, along with interest at the rate specified in the Rules within forty-five days of receiving the termination notice: Provided that where an Allottee does not intend to withdraw from the project or terminate the Agreement, he shall be paid, by the promoter, interest at the rate specified in the Rules, for every month of delay till the handing over of the possession of the [Apartment/Plot]. The Allottee shall be considered under a condition of Default, on the occurrence of the following events:
(i) In case the Allottee fails to make payments for consecutive demands made by the Promoter as per the Payment Plan annexed hereto, despite having been issued notice in that regard the allottee shall be liable to pay interest to the promoter on the unpaid amount at the rate specified in the Rules.
(ii) In case of Default by Allottee under the condition listed above continues for a period beyond consecutive months after notice from the Promoter in this regard, the Promoter shall cancel the allotment of the [Apartment/ Plot] in favour of the Allottee and refund the amount money paid to him by the allottee by deducting the booking amount and the interest liabilities and this Agreement shall thereupon stand terminated.
EVENTS OF DEFAULTS AND CONSEQUENCES. 9.1. Subject to the Force Majeure clause, the Promoter shall be considered under a condition of Default, in the following events:
(i) Promoter fails to provide ready to move in possession of the Apartment to the Allottee within the time period specified in para 7.1 or fails to complete the project within the stipulated time disclosed at the time of registration of the project with the authority. For the purpose of this para ‘ready to move in possession’ shall mean that the apartment shall be in a habitable condition which is complete in all respects including the provision of all specification, amenities and facilities, as agreed to between the parties, and for which occupation certificate and completion certificate, as the case may be, has been issued by the competent authority;
(ii) Discontinuance of the Promoter’s business as a developer on account of suspension or revocation of his registration under the provisions of the Act or the rules or regulations made thereunder.
9.2. In case of Default by Promoter under the conditions listed above, Allottee is entitled to the Following:
(i) Stop making further payments to Promoter as demanded by the Promoter. If the Allottee stops making payments the Promoter shall correct the situation by completing the construction milestones and only thereafter the Allottee be required to make the next payment without any interest; or
(ii) The Allottee shall have the option of terminating the Agreement in which case the Promoter shall be liable to refund the entire money paid by the Allottee under any head whatsoever towards the purchase of the apartment, along with interest at the rate prescribed in the Rules within forty-five days of receiving the termination notice; Provided that where an Allottee does not intend to withdraw from the project or terminate the Agreement, he shall be paid, by the promoter, interest at the rate prescribed in the Rules, for every month of delay till the handing over of the possession of the (Apartment/Plot), which shall be paid by the promoter to the Allottee within forty-five days of it becoming due.
9.3. The Allottee shall be considered under a condition of Default, on the occurrence of the following Events:
(i) In case the Allottee fails to make payments for consecutive demands made by the Promoter as per the Payment plan annexed hereto, despite having been issued notice in that regard the Allottee shall be liable to pay interest to the promoter on the unpaid amount at the rate prescribed i...
EVENTS OF DEFAULTS AND CONSEQUENCES. Except for occurrence of a Force Majeure event, the Vendor/ Developer shall be considered under a condition of default (“Default”), in the following events: Vendor/ Developer fails to provide ready to move in possession of the Apartment to the Allottee within the time period specified in Clause 7.1 or fails to complete the Project within the stipulated time disclosed at the time of registration of the Project with the Authority. For the purpose of this clause 'ready to move in possession' shall mean that the Apartment shall be in a habitable condition which is complete in all respects including the provision of all specifications, amenities and facilities, as agreed to between the Parties, and for which Completion Certificate has been issued by the competent authority; Discontinuance of the Vendor's/ Developer’s business as a Vendor/ Developer on account of suspension or revocation of his registration under the provisions of the Act or the Rules or Regulations made thereunder. In case of Default by Vendor/ Developer under the conditions listed above, Allottee is entitled to the following: Stop making further payments to Vendor/ Developer as demanded by the Vendor/ Developer. If the Allottee stops making payments, the Vendor/ Developer shall correct the situation by completing the construction milestones and only thereafter the Allottee be required to make the next payment without any interest; or The Allottee shall have the option of terminating the Agreement in which case the Vendor/ Developer shall be liable to refund, subject to the second proviso below, the entire money paid by the Allottee under any head whatsoever towards the sale of the Apartment, along with interest at the rate prescribed in the Rules within 45 (forty-five) days of receiving the termination notice: Provided that where the Allottee does not intend to withdraw from the Project or terminate the Agreement, he shall be paid, by the Vendor/ Developer, interest at the rate prescribed in the Rules, for every month of delay till the handing over of the possession of the Apartment, which shall be paid by the Vendor/ Developer to the Allottee within 45 (forty-five) days of it becoming due. Provided further 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 Vendor/ Developer and the Allottee shall be free to approach the authorities concerned for refund of such taxes, char...
EVENTS OF DEFAULTS AND CONSEQUENCES. 9.1 Subject to the Force Majeure clause, the Promoter shall be considered under a condition of default, in the following events:
(i) Promoter fails to provide ready to move possession of the Apartment to the Allottee within the time period specified or fails to complete the Project within the stipulated time disclosed at the time of Xxxx xxxxxxxx of the Project with the Authorities . For the purpose of this clause, ready to move in possession’ shall mean that the apartment shall be in a habitable condition which is complete in all respects including the provision of all specifications as xx xxxx to between the parties and for which Completion / Partial completion Certificate has been issued by the Competent Authority.
(ii) Discontinuance of the promoter’s business as a developer on account of suspension or revocation of his registration under the provisions of the Act or the rules or regulations made thereunder.
9.2 In case of default by Promoter under the conditions listed above, Allottee is entitled to the following:
(i) Stop making further payments to promoter as demanded by the Promoter by the Prom oter. If the Allottee stops making payments, the Promoters shall correct the situation by completing the construction milestones and only thereafter the Allottee be required to make the next payment without any interest; or
(ii) The Allottee shall have the opt ion of terminating the Agreement in which case the Promoter shall be liable to refund the entire money paid by the Allottee under any head whatsoever towards the purchase of the apartment, alongwith interest at the rate specified in the rules within forty -five days of receiving the termination notice subject to allottee fulfilling all formalities on its part as more fully mentioned in para/ clause 7 of this Agreement. ; Provided that where an allottee does not intend to withdraw from the project or terminate the agreement, he shall be paid, by the promoter, interest at the rate specified in the Rules, for every month of delay till the handing over the possession of the Apartment which shall be paid by the Promoter to the Allottee within 45 days of its becomin g due... Provided further 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 impos...
EVENTS OF DEFAULTS AND CONSEQUENCES. 9.1 Subject to the Force Majeure clause, the Promoter shall be considered under a condition of Default, in the following events:
(i) The Promoter fails to provide ready to move in possession of the Apartment to the Allottee within the time period specified in para 7.1 or fails to complete the Project within the stipulated time disclosed at the time of registration of the Project with the Authority. For the purpose of this para, ‘ready to move in possession’ shall mean that the Apartment shall be in a habitable condition which is complete in all respects including the provision of all specifications, amenities and facilities (except the Club facilities, which will be complete on completion of all the Phases of the Luxury Zone of the Complex), as agreed to between the parties, and for which Completion Certificate or Partial Completion Certificate, as the case may be, has been issued by the Competent Authority;
(ii) Discontinuance of the Promoter’s business as a developer on account of suspension or revocation of its registration under the provisions of the Act or the rules or regulations made thereunder.
9.2 In case of Default by the Promoter under the conditions listed above, the Allottee is entitled to the following:
(i) Stop making further payments to the Promoter as demanded by the Promoter If the Allottee stops making payments, the Promoter shall correct the situation by completing the construction milestones and only thereafter the Allottee be required to make the next payment without any interest; or
(ii) The Allottee shall have the option of terminating this Agreement in which case the Promoter shall be liable to refund the entire money paid by the Allottee under any heads whatsoever towards the purchase of the Apartment, along with interest at the rate prescribed in the Rules within 45 (forty-five) days of receiving the termination notice: Provided that where an Allottee does not intend to withdraw from the Project or terminate the Agreement, he shall be paid, by the Promoter, interest at the rate prescribed in the Rules, for every month of delay till the handing over of the possession of the Apartment, which shall be paid by the Promoter to the Allottee within 45 (forty-five days) of it becoming due.
9.3 The Allottee shall be considered under a condition of Default, on the occurrence of the following events:
(i) In case the Allottee fails to make payments for two consecutive demands made by the Promoter as per the Payment Plan annexed hereto, despi...
EVENTS OF DEFAULTS AND CONSEQUENCES. 9.1. Subject to the Force Majeure clause, the Promoter shall be considered under a condition of Default, in the following events:
(i) Promoter fails to provide ready to move in possession of the Apartment to the Allottee within the time period specified in Clause 7.1 or fails to complete the Real Estate Project within the stipulated time disclosed at the time of registration of the Project with the Authority. For the purpose of this Clause 'ready to move in possession' shall mean that the Said Apartment shall be in a habitable condition which is complete in all respects including the provision of all specifications as specified in Schedule D of this Agreement, and for which completion certificate, has been issued by the competent authority;
(ii) Discontinuance of the Promoter's business as a developer on account of suspension or revocation of his registration under the provisions of the Act or the rules or regulations made thereunder.
9.2. In case of Default by Promoter under the conditions listed above, Allottee is entitled to the following:
(i) Stop making further payments to Promoter as demanded by the Promoter. If the Allottee stops making payments the Promoter shall correct the situation by completing the construction milestones and only thereafter the Allottee be required to make the next payment without any interest; or
(ii) The Allottee shall have the option of terminating the Agreement in which case the Promoter shall be liable to refund the entire money paid by the Allottee under any head whatsoever towards the purchase of the apartment, along with interest at the rate prescribed in the Rules within forty-five days of receiving the termination notice subject to allottee registering the deed of cancellation in respect of the Said Apartment and Appurtenances; Provided that where an Allottee does not intend to withdraw from the Project or terminate the Agreement, he shall be paid, by the promoter, interest at the rate prescribed in the Rules, for every month of delay till the handing over of the possession of the Said Apartment, which shall be paid by the Promoter to the Allottee within forty-five days of it becoming due.
9.3. The Allottee shall be considered under a condition of Default, on the occurrence of the following events:
(i) In case the Allottee fails to make payment to the Promoter as per the Payment Plan annexed hereto, despite having been issued notice in that regard, the Allottee shall be liable to pay interest to the Promoter on the u...
EVENTS OF DEFAULTS AND CONSEQUENCES. 9.1 Subject to the Force Majeure clause, the Promoter shall be considered under a condition of Default, in the Following events:
(i) Promoter fails to provide ready to move in possession of the Apartment to the Allottee within the time period specified in para 7.1or fails to complete the project within the stipulated time disclosed at the time of registration of the project with the Authority. For the purpose of this para ‘ready to move in possession’ shall mean that the apartment shall be in a habitable condition which is complete in all respects including the provision of all specifications, amenities and facilities, as agreed to between the parties, and for which Occupation Certificate and Completion Certificate, as the case may be has been issued by the Competent Authority.
(ii) Discontinuance of the Promoter’s business as a developer on account of suspension or revocation of his registration under the provisions of the Act or the rules or regulations made thereunder.
9.2 In case of Default by Promoter under the conditions listed above, Allottee is entitled to the following:
(i) Stop making further payments to Promoter as demanded by the Promoter. If the Allottee stops making payments the Promoter shall correct the situation by completing the construction milestones and only thereafter the Allottee be required to make the next payment without any interest; or
EVENTS OF DEFAULTS AND CONSEQUENCES. Subject to the Force Majeure clause, the Vendors/Developer shall be considered under a condition of Default, in the following events:
9.1 Vendors/Developer fails to provide ready to move in possession of the Flat & Parking to the Allottee(s) within the time period specified. For the purpose of this clause, 'ready to move in possession' shall mean that the Flat & Parking shall be in a habitable condition which is complete in all respects;
9.2 Discontinuance of the Vendors/Developer's business as a developer on account of suspension or revocation of their registration under the provisions of the Actor the rules or regulations made there under.
9.3 In case of Default by Vendors/Developer under the conditions listed above, Allottee(s) is entitled to the following:
(i) Stop making further payments to Vendors/Developer as demanded by the Vendors/Developer. If the Allottee(s) stops making payments, the Vendors/Developer shall correct the situation by completing the construction milestones and only there after the Allottee(s) be required to make then next payment without any penal interest; or
(ii) The Allottee(s) shall have the option of terminating the Agreement in which case the Vendors/Developer shall be liable to refund the entire money paid by the Allottee(s) towards the purchase of the Flat & Parking.
9.4 The Allottee(s) shall be considered under a condition of Default, on the occurrence of the following events: In case the Allottee(s) fails to make payments for 30 Consecutive days after the demands have been made by the Vendors/Developer as per the Payment Plan annexed here to, despite having been issued notice in that regard the Allottee(s) shall be liable to pay interest to the Vendors/Developer on the unpaid amount at the rate specified in the Rules. In case of Default by Allottee(s) under the condition listed above continues for a period beyond consecutive two months after notice from the Vendors/Developer in this regard, the Vendors/Developer shall cancel the allotment of the Flat & Parking in favour of the Allottee(s) and refund the amount money paid to him by the Allottee(s) by deducting the booking amount and the interest liabilities and this Agreement shall there upon stand terminated.
EVENTS OF DEFAULTS AND CONSEQUENCES. Subject to the Force Majeure clause, the Promoter shall be considered under a condition of default, inthe following events:- XXXXXXX XXXXXXXX BUILDCON LLP = 15 =
(i) The Promoter fails to provide ready to move in possession of the [Apartment /Flat] to the Allottee(s) within the time period specified in Para 7.1 above in this Agreement or fails to complete the Project within the stipulated time disclosed at the time of registration of the Project with the Authority. For the purpose of this Para, 'ready to move in possession' shall mean that the Apartment shall be in a habitable condition which is complete in all respects including the provision of all specifications, amenities and facilities, as agreed to between the parties, and for which occupation certificate and completion certificate, as the case may be, has been issued by the competent authority;
(ii) Discontinuance of the Promoter's business as a developer on account of suspension or revocation of his registration under the provisions of the Act or the rules or regulations made thereunder. In case of default by the Promoter under the conditions listed above, Allottee(s) is entitled to the following:-
(i) Stop making further payments to the Promoter as demanded by the Promoter. If the Allottee(s) stops making payments, the Promoter shall correct the situation by completing the construction milestones and only thereafter the Allottee(s) be required to make the next payment without any interest; or
(ii) The Allottee(s) shall have the option of terminating the Agreement in which case the Promoter shall be liable to refund the entire money paid by the Allottee(s) under any head whatsoever towards the purchase of the Apartment, along with interest within forty-five days of receiving the termination notice or within such further time frame as may be agreed between the parties. The fees and expenses relating to the Agreement for Sale including stamp duty, registration, fees, GST, Advocate fees, incidental and other expenses for registration etc. shall not be refundable. If however the Allottee does not withdraw from the Project within forty five days of the date specified in Para 7.1, then it shall be deemed that the Allottee has voluntarily opted not to withdraw from the Project and the option of withdrawal shall not be applicable and/or shall cease to be valid or have effect Provided that where an Allottee(s) does not intend to withdraw from the Project or terminate the Agreement, he shall be paid, by the ...
