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6 TERM AND CONDITION FORMING PART OF BOOKING APPLICATION AKJ REAL INFRA PVT. LTD:- The terms and conditions given below are indicated, detailed and comprehensively set out in the Allotment Letter/Buyer s Agreement which upon execution shall supersede all previous documents. The applicant shall sign all the pages of this application in token of its acceptance. 1. The allotment of the Unit is entirely at the discretion of the company. The allotment of the said Unit shall be provisional and shall be confirmed on signing of buyer s Agreement with the company which has been read and understoody by the applicant /alloyt tee. 2. The applicant/allotee has fully satisfied himself about the nature of rights, title, interest of the company in the said Project, which is to be developed/constructed by the company as per the prevailling laws/guidelines and has furthur understood all limitations and obligations in respect hereof. The applicant/allotee furthur agrees to abide by the terms and conditions pf all the permission, sanctions, directions etc. issued by competent department and/or other authorities in this regards to the company. 3. The applicant/allottee has examine the tentative plans, designs and specifications of the Unit and has agreed that the company may affect such variations and modifications therein as may be necessary or as it may deem appropriate and fit in the best interest of the project or as may be done by any competent authority. The necessary changes/alterations may involve change in positions/location of the Unit, change in its dimensions or area etc. The applicant/allottee agrees that no claim, monetary or otherwise will be raised in case of any change. It is clarified that the initial rate of booking of the Unit will be applicable on the changed area in case of refund or demand. 4. The allottee for built up unit shall pay the price of the unit on the basis of the super area of the Unit and all other charges as and when demanded by the Company. The term Super Area is understood to include pro-rata share of the common areas in the complex. The Super Area of the booked Unit means the covered area of said Unit including the entire area enclosed by its periphery walls including area under walls, columns, balconies, and shafts etc. and half the area of common walls with other premises/unit which form integral part of said Unit and common areas shall mean all such parts/areas in the entire said complex which the allottee shall use by sharing with other occupants of said Complex including entrance lobby, proportionate area of club house, lift shafts, electrical shafts, fire shafts, plumbing shafts, service ledge on all floors, common corridors and passages, staircase, mumties, sevices area including but not limited to, lift area, machine/pumping set room, security/fire control rooms, maintainance office/stores, guards cabin, generator area etc. 5. The applicant/allottee agrees that amout paid with the application and in instalment as the case may be, to the extent of 105 of sale consideration of the Unit shall collectively constitute the earnest money. 6. Applicant/allottee egrees that back finance shall not be availed by him unless 40% of Basic Sales Price is paid to the Developed Company. 7. Timely payment of instalment of Basic Sale Price in consonance with payment plan opted by them and allied charges pertaining to the Unit is the essence of the terms of the booking/allotment by the applicant/allottee, the allotment will be cancelled at the discretion of the company and the earnest money together with any interest on instalments due but unpaid and interest on delayed payments shall stand forfeited. The balance amount shall be refunded to the applicant/allottee without any interest, after the said Unit is allotted to some other intending allottee and after compliance of formilities by the allottee as per prevailing refund policy of the company. The company in its absolute discretion may condone delay by charging penal p.a for up to three months delay from the due date of payment thereafter on all outstanding dues from their respective due dates. 8. The applicant/allottee has specially agreed that if due to any change in the layout. The said Unit ceases to be preferentially located, the company shall refund/adjust the amount of preferential location charges paid by the applicant/allottee in the last installment as shown in the payment plan. If due to any change in the layout/building plan, the said Unit becomes preferentially located, and then the applicant/allottee shall be liable an agrees to pay the preferentially location charges as and when demanded by the Company as per prevailling rates. 9. All paymnets by the applicant/allottee shall be made to the Company through demand drafts/cheques upon scheduled banks in favour of M/s AKJ REAL INFRA PVT. LTD. Payable at New Delhi/Noida Only. 10. The allottee shall not be entitled to get the name of his nominee substitute in his/her place without prior approval of the company. Such apporval shall be granted on payment of administrative charges by the company form time to time and also subject to compliance and execution of nomination/transfer documentation as may be prescribed bt the company. 11. No transfer is permitted unless allottee has deposited 40% of Basic Sale Price. The first transfer within one year from the date of booking is permitted without any transfer/administrative charges with the prior approval of the Company. Later on Transfer/Assignment of allotment of the Unit by the applicant/allottee shall be permissible at the discretion of the company on payment of such administrative charges as may be fixed by the company from time to time. Transfer shall be permitted subject to the condition that the allottee/assignor/transfer and the assignee/transfree (new allottee) agree to comply with all formalities in this regard and the assignee agrees to abide by all the terms of allotment.
7 12. All statutory charges, taxes, cess and other levies demanded or imposed by the concerned authorities shall be payable proportionately by the applicant(s)/allottee(s) from the date of booking as per demand raised by the company. 13. The Company shall have the first lien and charges on the said Unit for all its dues and other sums payable by the applicant/allottee to the company. 14. Loans from financial institutions to finance the said Unit may be availed by the applicant/allottee. However, if a particular financial institution/bank refuses to extend financial assistance or any ground, the applicant/allottee shall not make such refusal an excuse for nonpayment of further instalments/dues. Further the lease deed of the Unit in favour of the allottee will be executed only upon the company receiving No Objection Certification from such financial institution/bank and such lease deed on execution shall be handed over to the lending institution, if so required by them. 15. The applicant/allottee undertake to abide by and comply with all the laws, rules and said Unit/Project. 16. In case the company is forced to abandon the said Porject due to force majeure circumtances or for reason beyond its control, the Company shall refund the amount paid by the applicant/allottee along with simple p.a form the happening of such eventually. 17. The company shall endeavour to give possession of the Unit/Villa to the applicant/allottee within 24 months from the date of execution of the builder Buyer Agreement subject to the force majeure circumtances and reasons beyond the control of the Company with a reasonable extension of time as prescribed in the Builder Buyer Agreement. 18. In case of cancellation of Unit, 15% of the total value of flat shall be charged by the company from the allotte. 19. The applicant/allottee shall before taking possession of the Unit, clear all the dues towards the Unit and executed in his favour by the Company after paying stamp duty, registration fees and other charges/expenses. 20. The applicant/allottee shall use/cause to be used Unit for residential purpose only and not for any other purpose. This is a condition precedent and non-compliance thereof may invite cancellation of allotment of the Unit and forfeiture of the earnest money and other dues as stated in clause 6 here in above and the applicant/allottee will have to comensate the company for all other losses resulting there from. 21. It is specifically understood by allottee that the company may incorporate additional terms and conditions over and above the terms and conditions of this allotment as set out in this application. 22. If any misrepresentation/concealments/suppression of material facts are found to be made by the Applicant/Allotte, the allotment will be cancelled and the earnest money as mentioned in clause 6 hereinabove shall be forfeited and the applicant/allottee shall be liable for such misrepresentation/concealments/suppression of material facts in all respect. 23. All disputes arising subject to juridiction of delhi court. 24. All Singulars shall mean and include Plural and Masculine genders shall means and include all genders wherever applicable.
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