Terms and conditions

The applicant (intending purchaser) has applied for purchase of a flat in the captioned residential apartment complex with full knowledge of all laws, regulations and notifications as applicable to the area and to the complex, which also have been explained in details by the builders(vendors)and understood by the applicant.

The applicant is fully aware of rights and interest of the builder in the project and the project land and its limitations and obligations. The applicant has fully verified and satisfied about genuineness, validity and marketability of the title to the land relating to the above complex and accordingly no objections, investigations or questions will be raised by the applicant in this respect at any time in future.

–  The building conforms to the building plans approved by the Bhubaneswar Development Authority/ Block Development Office depending upon the locality.
–  The specifications shall be as given in the brochure and/or as may be amended from time to time.

–  These may be changes/alterations if considered necessary and as a consequence there of, the saleable area is increased or decreased, the total cost of the fiat will stand suitably revised and it will be incumbent upon the applicant to accept the same.

If the particular flat applied for could not be allotted for any reason then an offer will be made in any other floor and if the applicant is not willing to accept the same, the amount paid by the applicant shall be returned without any interest within a period of 90 days.

There may be changes/variations required by the concerned authorities or deemed necessary or advisable without substantially altering the dimensions of the said flat/floor area, car parking space allotted to the applicant and the applicant shall not raise any objections or questions about the same.

It is expected that possession will be handed over within 36 months from the date of execution of the agreement barring unforeseen circumstances.

The purchaser shall not substitute his/ her name and of the nominee, if any, without our prior approval.

–  Also, the purchaser shall not assign/ transfer the interest/right in the flat without the prior permission of the builder. However for availing of loan from financial institutions, such assignment/mortgage may be created with the approval of the builder.

–  All expenses relating to the execution of the sale deed shall be in accordance with the rates prescribed/ fixed by the Govt. Authorities and shall be borne by the purchasers, which shall be in addition to the cost of the flat agreed upon,

–  Proportionate cost of fire fighting equipment including its installation, electric sub-station/ transformers, panels, external electrification,landscaping, Individual service meter, security deposits etc. shall be payable by the purchasers over and above the cost of the flat agreed upon. Such proportionate expenses shall be determined and intimated to the purchasers who shall pay the same within the time specified, failing which handing over possession of the flat will be put on hold and if required the builder reserves the right to cancel the allotment and refund the amount paid without any interest after deducting Rs.10,000/- towards service charges/I liquidated damages.

–  The purchasers shall pay the total cost of the flat strictly in accordance with the payment schedule agreed to and in case the installments are delayed , then the purchaser has to pay interest @ 12% PA. Such installments have to be paid within 30 days from their due dates and in case they are not still paid, the builder reserves himself the right to cancel the allotment and refund the amount paid without any interest after deducting Rs. 2O,OOO/-towards service charges.

–  In the event of the purchasers deciding to cancel the allotment for any reason whatsoever, at any point of the time after booking Rs 20.000/- shall be charged towards cancellation charges and the balance will be returned without interest after 90 days.

–  All taxes and levies like VAT, service taxes etc. shall be borne and paid by the purchasers which will be extra.