Terms & Reference
ALLOTMENT :
Application for allotment of apartments should be made on the prescribed Application from duly signed by the applicant along with Booking Money. Allotment shall be made on first-come first-serve basis.
ALLOTMENT TRANSFER :
Until the full payment on installments, the buyer shall not have the right to transfer the allotment to a third party without the consent of the company and such an even purchaser have to pay Tk. 2,00,000 (Two Lacs only) to the company as a service charge for each Transfer.
PAYMENT :
All payment are to be made by Account payee cheque/ Bank Draft/ Pay order. The buyers must strictly adhere to the schedule of payment to ensure timely compeletion of the construction work. Any delay in payment the buyers liable to pay 2% interest per month on the payable amount beyond the due date. If the payment is delayed beyond 60 (sixty) days, the company shall have the right to cancel the allotment with prior notice to the allottee. In such an event the amount paid by the allottee will be refunded after deducting taka 10% as incidental charges, after selling of that apartment to the new buyer.
CANCELLATION OF BOOKING :
In case of any cancellation of allotment by a client, the amount paid by the allottee will be refunded after selling out the same apartment to new buyer, and also deducting Tk. 10% as incidental charges.
COMPANY RIGHT :
The company reserves the right to accept or reject application for an allotment. The company may take minor changes in the design and specification of the project should those become necessary.
REGISTRATION COST :
The buyer shall bear all costs relating to registration i.e. stamp duties, gain tax, registration fees,VAT, Govt. transfer fees, documentation charges and other miscellaneous expenses and related legal fees. The company will make necessary arrangements for all such formalities.
INCIDENTAL COSTS :
Utility connection charges/fees i.e. gas, water, sewerage and electricity connection etc. and other incidental charges are not included in the price of the apartment. The allottee shall have to pay charges/fees for that purpose of the apartment.
HANDOVER POSSESSION :
The possession of apartment and parking space will be handed over after 6 (six) month on received of full payment and on completion of all works as per time schedule of company i.e. handover of flats shall be June 2024.
APARTMENT OWNER’S WELFARE SOCIETY :
The buyer must become a member of the owner’s co-operative society which will be formed by the buyers of the apartments and duly registered for the management of the common service such as pumps, electric generator and annual maintenance of the building etc. Each buyer/owner of the apartments shall deposit Tk. 50,000 (Fifty thousand) only for annual common service expenses. The monthly utility service expenses will be borne by the owner as per requirment, which will be deducted by the company until formation of owner’s co-operative society.
