Project Maintenance Charges definition

Project Maintenance Charges shall, including but not limited to the charges and expenses listed out hereinbelow, mean the following:
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Project Maintenance Charges. The Allottee shall pay in advance to the Promoter (including any agency nominated by it) or the Project Association, as the case may be, such charges at such rate as may be decided by the Promoter/Project Association from time to time by the 7th (seventh) of each month in advance without any abatement ("Project Maintenance Charges") for the maintenance of the Project Common Areas. The Project Maintenance Charges shall remain liable to increase from time to time by the Promoter/Project Association. So long as the maintenance of the Project Common Areas are not handed over to the Project Association, the maintenance activities will be operated by the Promoter or its nominated agency on a "cost plus" basis to ensure a reasonable return for the effort to be made in respect of the maintenance. The Project Maintenance Charges for a period of 2 (Two) year [“the Project Maintenance Deposit”] from the deemed date of possession of the Apartment in terms of the Allotment Letter is included in the Total Price of the Apartment/Retail Unit/Office Unit. After the expiry of the said 2 (Two) years period, the Allottee shall be entitled to refund of the the Project Maintenance Deposit. The Allottee shall pay the monthly Project Maintenance Charges to the Promoter or it's nominated agency (ies) or to the Project Association, as the case may be, on and from the date of possession/the date of deemed possession by the seventh day of each month in advance without any demur and delay. The Association, when formed, shall be owned and controlled by the owners/occupiers of the Residential Block and the Commercial Block proportionately and all its decisions shall be by majority of votes according to proportionate interest/share, and not number of members. The owners/occupiers (including the Purchaser) may amend and/or modify the rules and regulations of the Association by three-fourths majority subject to the condition that no amendment or modification shall be valid if it is contrary to or in violation of any of the terms and conditions contained in these presents and the Deeds of Conveyance executed by the Transferors in favour of the Unit Owners. It may be clarified that the billing for the maintenance of the Commercial Block and the Residential Block shall be done separately by the maintenance agency since both the blocks are independent and autonomous of each other. Notwithstanding anything mentioned herein, it may be clarified that during emergency no restriction of use of the ...
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Examples of Project Maintenance Charges in a sentence

  • After the expiry of the said 1 (one) year period, the Allottee shall be liable to pay the monthly or Quarterly Project Maintenance Charges to the Developer or it’s nominated agency (ies) or to the Project Association, as the case may be.

  • The Project Maintenance Charges shall remain liable to increase from time to time by the Promoter/ Project Association.

  • The Project Maintenance Charges shall remain liable to increase from time to time by the Developer/Project Association.

  • The Project Maintenance Charges for a period of 2 (two) year from the deemed date of possession of the Apartment has already been collected by the Promoter, which is included in the Total Price of the Apartment.

  • Before taking over the possession of the Apartment, the Allottee will pay to the Promoter an interest-free security deposit amount towards the Project Maintenance Charges and Shared Common Areas Maintenance Charges calculated on the basis of 2 (two) year’s maintenance charges and have been included in the Total Price of the Apartment herein (“Maintenance Security Deposit”).

  • Before taking over the possession of the Apartment, the Allottee agrees to pay to the Developer an non-interest bearing non refundable security deposit amount towards the Project Maintenance Charges and Shared Maintenance Charges calculated on the basis of 1(one) years ‘Maintenance Charges and have been included in the Total Price of the Apartment herein (“Maintenance Security Deposit”).

  • After the expiry of the said 2 (two) year period, the Allottee shall be liable to pay the monthly Project Maintenance Charges to the Promoter or it’s nominated agency (ies) or to the Project Association, as the case may be.

  • The Project Maintenance Charges for a period of 1 (one)year from the Deemed Date of Possession of the Apartment in terms of the Agreement will be collected by the Developer, which is included in the Total Price of the Apartment.