GENERAL TERMS AND CONDITIONS - Shrachi...

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GENERAL TERMS AND CONDITIONS

For allotment and Transfer

In

Nakshatra Heights (Mass Housing of Springdale)

At

RENAISSANCE (Township at Burdwan)

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The following are the terms under which SHRACHI BURDWAN DEVELOPERS

PRIVATE LIMITED is offering apartments within Nakshatra Heights, a gated complex , in

Springdale, at the Renaissance situated at Mouzas Goda, Kantrapota, Nababhat and

Isufabad, in P.S. and District Bardhaman. These are however subject to approval of the

relevant authorities and all changes will be as directed by them and binding on the allottees.

1. Definitions: The following words and terms, wherever used herein, unless repugnant to

the meaning or context hereof, shall have the meanings set out below:

i. Allotment Letter The letter referred to in Clause 4 (b) that the Company will

issue to the Applicants when provisionally allotting a

Property.

ii. Allottee An Applicant to whom an Allotment Letter has been sent and

been accepted by that person.

iii. Allotment

Money

The amount to be paid by an Applicant for accepting the

Allotment Letter.

iv. Application

Form

The prescribed form as referred to in Clause 4(a) hereof, duly

filled by the Applicants while applying for a Property.

v. Applicant A person who has applied for allotment of an Apartment.

vi. Apartment One, two and three bed-roomed apartments to be constructed

by the Company in the Nakshatra Heights.

vii. BDA Burdwan Development Authority.

viii. Bengal Shrachi Bengal Shrachi Housing Development Limited.

ix. Brochure The Company’s 'sales kit' for Nakshatra Heights.

x. Company Shrachi Burdwan Developers Private Limited having its

registered office at Shrachi Tower 686, Anandapur, Kolkata

700 107.

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xi. Development

Control

Regulations

The regulations under which the Allottees will be required to

hold their Properties.

xii. External

Development

Charges (EDC)

All charges, fees and/or cess by whatever name called levied

on the Company by the State and/or the Central Government,

or any statutory authority in respect of Renaissance for any

development.

xiii. Earnest Money The non-refundable amount mentioned in the Payment Plan

and the Schedule that the Allottees will have paid as a

promissory for fulfillment of the Terms and Conditions of this

GTC.

xiv. Electricity

Security Deposit

(ESD)

The amount that will be required to be deposited to the

WBSEDCL for obtaining a separate meter or the proportionate

share of the deposit that will be payable to the WBSEDCL for

obtaining bulk supply when no separate meter will be issued.

xv. Force Majeure Any event beyond the control of the Company.

xvi. GTC The General Terms and Conditions as prescribed herein

subject to the approvals of the relevant authorities and changes

as be directed by them to which, with or without changes, all

Allottees will be unconditionally bound.

xvii. Governmental

Authority

National, regional or local government or any governmental,

administrative, regulatory, fiscal, judicial or public body,

department, commission, public authority, tribunal, agency,

central bank or other entity of any kind exercising executive,

legislative, judicial, regulatory or administrative functions of

government.

xviii. Head Lease The lease dated 27th August, 2010 registered with the

A.D.S.R. Burdawan, on 28th September, 2010 in Book

No.I, CD Volume No. 23, Pages 4726 to 4762, being No.

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07889 for the year 2010 by which BDA has granted lease

of the entire Land to the Company for a period of 99

years, with the entitlement to the Company to renew the

same for subsequent periods of 99 years each with all

other terms remaining the same and the right to the

Company to assign, sub-lease or sub-let the Land or any

part or portion thereof.

xix. IFSD The interest free security deposit that the Allottees will be

required to keep with the Maintenance Company.

xx. IFMSD The Interest Free maintenance security deposit which is

equivalent to 6 (six) months advance of the monthly

maintenance charges payable at the notice of possession to the

Company /Maintenance company.

xxi. Land The 254.74 Acres of land situated in Mouzas Goda,

Kantrapota, Nababhat and Isufabad, in P.S. and District

Burdwan.

xxii. Maintenance

Company

The agency, body, company, association or condominium as

may be appointed by the Company from time to time for the

maintenance and upkeep of Renaissance.

xxiii. Management

Agreement

The agreement that the Allottees may be required to execute

with the Maintenance Company in the event the Company

appoints one.

xxiv. Nakshatra

Heights Land

The area of about 8 Acres out of the Land which has been

earmarked for development of Nakshatra Heights.

xxv. NRE Account As defined in the Foreign Exchange Management (Deposit)

Regulations, 2000.

xxvi. Non-Resident

Indian or NRI

As defined in the Foreign Exchange Management Act, 1999.

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xxvii. NRO Account

As defined in the Foreign Exchange Management (Deposit)

Regulations, 2000.

xxviii. Non-Refundable

Amounts

Beside the Earnest Money, will include interest on delayed

payment, interest paid, due or payable, statuary charges paid,

and security deposits paid.

xxix. Person of Indian

Origin or POI

As defined in the Foreign Exchange Management Act, 1999.

xxx. Possession

Notice

A notice in accordance with Clause 13(b) issued to each

Allottee regarding the date on and from which the Company

will start effecting possession of their respective Apartments to

the Allottees.

xxxi. Possession Date The date that will be specified in the Possession Notice on

which possession of the Property shall be deemed to have been

taken by the Allottee in accordance with Clause 13 (b).

xxxii. Payment Plan

and Schedule

The schedule indicated in the Brochure/ Allotment Letter

setting out the prescribed times for making the payments of

amounts stipulated therein.

xxxiii. PLC The charges for preferential location of a Property.

xxxiv. Property The Apartment along with attached terrace, if any, and Parking

Space, if any.

xxxv. Renaissance The entire township being developed on the Land and

indicated in the Brochure.

xxxvi. Springdale Phase 1 of Renaissance.

xxxvii. Total Price The aggregate of the cost of the Property and the PLC, if any,

but will not include any other amounts including without

limitation lease rent, Taxes, EDC, charges for bulk supply of

electric energy, property taxes, increase in price due to

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increase in Area of the Apartment, stamp duty, registration,

legal fees and incidental charges for registration and charges

and deposits payable in accordance with this GTC.

xxxviii. WBSEDCL West Bengal State Electricity Distribution Company Limited.

2. Company’s Representations:

(a) With the approval of the Land and Land Reforms Department, Govt. of West

Bengal, BDA had acquired the Land under the Land Acquisition Act, 1894 through

the LA Collector, Burdwan and had duly taken possession thereof from the LA

Collector on 26th

February, 2007. BDA had thus become the sole and absolute

owner of the Land.

(b) By a Memorandum of Agreement dated 8th

March, 2006, BDA had engaged Bengal

Shrachi for developing the Land and had thereafter handed over its possession to

Bengal Shrachi.

(c) With the consent of BDA, Bengal Shrachi along with one Xander Investment

Holding VI Limited had incorporated a SPV, being the Company, primarily for

developing the Township, which has been christened “Renaissance”, and Bengal

Shrachi had handed over possession of the Land to the Company therefor.

(d) By the Head Lease BDA has leased the entire Land to the Company under

the terms and conditions therein, the Company is now the Lessee/

Developer of the township know as Renaissance.

(e) The Company is now developing Renaissance at the Land and the proposed tentative

layout plan of Renaissance is depicted in the Brochure.

(f) Renaissance will have several phases which will, inter-alia, have areas for residential

group housing, commercial and retail. Renaissance as also its phases will be

developed in zones.

(g) Nakshatra Heights is one such zone which the Company has now launched at the

Nakshatra Heights Land, the tentative layout plan of which is depicted in the

Brochure. Nakshatra Heights is initially envisaged to have 26 Towers (hereafter

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the "Towers") of Stilt(S) + 4, Stilt(S) + 7, Stilt (S) + 11 and to collectively have

828 one, two or three bed-roomed apartments.

(h) The layout plan presently shown in the Brochure is tentative and subject to change

depending upon any changes/directions/conditions suggested and/or imposed by any

of the authorities whose approvals are required for sanctioning at any stage.

(i) The scope of this GTC is confined and limited only to the Nakshatra Heights in

accordance with the plan(s) to be approved by the competent authorities. The area of

Nakshatra Heights Land may stand modified in future to the extent required/desired

pursuant/consequent to any directions/approvals of the competent authorities.

(j) The proposed tentative layout plan as given in the Brochure also comprises of areas

intended to be used for other purposes including without limitation retail, school,

commercial, group housing. This GTC is exclusively meant for the Nakshatra Heights

and is in no way connected with the other areas of Springdale or Renaissance.

(k) The entire area of Renaissance as described in the Brochure is merely to acquaint the

Allottees with the overall picture of the development that is envisaged to take place.

Such tentative description of the overall development plan is not intended to convey

to the Allottee any impression of any right, title and/or interest in any of the other

zones to be developed in or about the land(s) falling outside the Nakshatra Heights

Land.

(l) The Allottee shall only have the user right on all other common/ open areas within

Nakshatra Heights and the common areas of Renaissance

(m) The Total Price payable by the Allottee to the Company as described in the

Allotment Letter is only towards development and construction of the Property as

also PLC, if any.

3. Allottees' Representations:

By applying for an Apartment in the prescribed Application Form of the Company, the

Allottees will be deemed to have:

(i) Inspected the Nakshatra Heights Land Site, tentative drawings and design for

Nakshatra Heights, its tentative location plan, the documents relating to title to

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the Land, competency and eligibility of the Company to develop Renaissance

and all other relevant details and that all the Allottees will be deemed to have

confirmed that he/ she is fully satisfied in all respects with regard thereto and has

understood all the limitations and obligations of the Company in respect thereof.

The Allottees agree that there shall be no further investigations nor objections of

any kind in this regard nor shall any of them be entitled to raise contrary rights

and/or claims.

(ii) Confirmed that the Company has readily provided all the information and

clarifications as were required by them and that none of them have been

influenced by any architect’s plans, sales plans, sale brochures, advertisements,

representations, warranties, statements or estimates of any nature whatsoever

whether written and/or oral made on behalf of the Company, its selling

agents/brokers or otherwise including, but not limited to, any representations

relating to the description or physical condition of Renaissance, the size or

dimensions of the Apartment /Property including all their physical

characteristics, the services to be provided in Nakshatra Heights as well as in

Renaissance, the tentative facilities and/or amenities to be made available thereto

or any other data except as specifically represented in this GTC, Broucher and/or

Application Form and that the Allottees have relied solely on his/her own

judgment and investigation in deciding to acquire the Property and not by any

oral or written representations or statements.

(iii) Acknowledged that they have full knowledge of all the relevant laws, rules,

regulations, notifications etc. applicable to township projects in general and

Renaissance and/or Nakshatra Heights in particular and the terms and conditions

contained in this GTC and that all of them have clearly understood their

respective rights, duties, responsibilities, obligations under each and every clause

of this GTC.

(iv) Undertaken to abide by and comply with all the obligations of the

Allottees/Apartment Owners mentioned in this GTC.

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4. Allotment Process:

(a) The Allottees will be required to put in their Application Forms for allotment of a

Property and pay the Booking Amount to the Company mentioned in the Application

Form.

(b) The Allotment Letter will be deemed to have been issued by the Company relying

upon the representations of the Allottees in the Application Form. The Allotment

Letter will contain the manner and other terms relating to payment of the Total Price.

© The Company will normally not entertain any request for any kind of alteration in

Allotment Letter. However, at its the sole discretion, if the Company does entertain

any such request for alteration of the Allotment Letter, the Allottee will be required to

a pay the sum of Rs.5,000/- for every such alteration.

5. Parking Space:

(a) A limited number of Car Parking Spaces are proposed to be provided within

Nakshatra Heights.

(b) The allotment of the Car Parking Spaces will be made on first-cum-first-served basis

depending on the submission of the Application Form. Each allotted Car Parking

Space will entitle the Allottee the right to park only one car. The Allottees may, in

future, transfer their allotted Car Parking Space along with the Apartment or to a

person who owns an Apartment in the Block where the Apartment of the Allottee will

be situated. Un allotted Car Parking Spaces, if any, shall continue to remain the

property and in the possession of the Company. The Company at its sole discretion

may allot/ use these un allotted Car Parking Spaces in any manner as it may decide.

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6. Payment Structure:

(a) The Total Price shall be paid by the Applicants as indicated in the Allotment Letter.

(b) The Allottee will be required to pay an annual extra amount to BDA as lease rent for

the Apartment which will be determined in terms of the Head Lease and its payment

will commence from the date an Allottee will be deemed to have taken possession of

the Property as herein contained or the date of execution and registration of the

transfer deed of the Property, whichever is earlier.

(c) If the Company is required to pay any EDC towards recovery of the cost of any

development like State/National Highways, transport systems, power facilities or any

other infrastructural developments, the Allottees will be required to pay proportionate

share of the same which will be levied by the Company on the Allottees on pro rata

basis on the Property.

(d) Liability of the Allottee to pay pro rata share of the EDC will survive even after

registration of the transfer deed of the Property if such is demanded in respect of

Renaissance thereafter. In such an event, the unpaid pro rata share of the EDC shall

become a first charge on the Property, irrespective of any other charge the Allottee

might create in respect of the Property, and be recoverable of the Property as a

charge.

7. Mode of Payment:

(a) The Allottees shall make all payments in accordance with the schedule of

payments mentioned in the Allotment Letter and as may be demanded by the

Company from time to time by A/c Payee Cheque(s)/Demand Draft(s)/ Pay

Orders/ RTGS in favour of the Company payable either at Kolkata or Burdwan.

The Company shall intimate the Allottees of the due date of such payment in

writing and the Allottees will have to make the demanded payment within 14 days

of the date of this letter of intimation.

(b) All payments would be considered received only during the working hours (10 am

- 6 pm.) at the registered office of the Company from Monday to Friday and at the

Site office on all seven days of the week.

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(c) Payments made to the Company by post will be considered received on the date

the same is acknowledged by the Company.

8. Adjustment/Appropriation of Payments:

The Company will be entitled to adjust/appropriate payments made by an Allottee

first against any outstanding dues under any head(s), if any, then remaining unpaid by

such Allotee, and then towards the installment/charges. By applying for an Apartment

in the prescribed Application Form of the Company, the Allottees will be deemed to

have authorised the Company to receive payment in this manner and undertaken not

to object to such adjustments made by the Company.

9. Interest on delayed Payments:

(a) The Allottees must comply with the payment terms of the Price and Payment

Schedule as indicated in the Allotment Letter and all other payments under this GTC.

(b) In case any payment is delayed by any Allottee, the concerned Allottee will become

liable and shall pay to the Company interest on the amount due at the rate of 18%

(eighteen percent) per annum from the respective due dates till full and final payment

of the amount due as also the interest due thereon is made. All payments received by

the Company will be first applied towards applicable interest and other sums, if any

due, and thereafter towards the installments.

(c) Delay in payments of installments and all other dues beyond 2 (two) months from the

respective due dates will be deemed to be a default and Clause 9 below shall become

applicable.

(d) All payments made in cheque shall be considered to have been received by the

Company only when the amount of such cheque is credited in the account of the

Company. In the event any cheque submitted by any Allottee is returned unpaid,

besides Clause 9 becoming immediately applicable, a penalty of Rs.500/- shall be

levied on such Allottee.

10. Events of Defaults and Consequences:

(a) All defaults, breaches and/or non-compliance of any of the terms and conditions of

this GTC and/or the Allotment Letter shall be deemed to be events of defaults liable

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for consequences stipulated herein. Some of the indicative events of defaults are

mentioned below which are merely illustrative and not exhaustive:

i) Failure by the Allotee to countersign and return the Company's copy of the

Allotment Letter to the Company within the date stipulated therefor in the

Allotment Letter.

ii) Failure to make the payments within the date stipulated therefor in the

Allotment Letter or in this GTC of the Total Price, stamp duty, registration

fee, legal expenses, any incidental charges, including, but not limited to,

security deposit, lease rent, deposits for bulk supply of electrical energy,

taxes, as may be notified by the Company to the Allottee from time to time.

iii) Failure to execute and register the transfer deed or any other deed/ document/

undertakings/ indemnities etc. or to perform any other obligation, if any, set

forth in any other agreement with the Company relating to the Property.

iv) Failure to take possession of the Property within the date stipulated by the

Company in its notice for possession.

v) Failure to execute the Maintenance Agreement and/or to pay on or before its

due date the Maintenance Charges, maintenance security deposits, or any

increases in respect thereof, as demanded by the Company, its nominee, other

Body or Association of Owners/Association of the Nakshatra Heights or

Renaissance, as the case may be.

vi) Failure, pursuant to a demand by the Company in terms of this GTC, to

become a member of the association of owners of Nakshatra Heights and/or

Renaissance or to pay subscription charges etc. as may be required by the

Company or the association of owners, as the case may be.

vii) Assignment of the Allotment Letter or any interest of the Allottee therein

without prior written consent of the Company.

viii) Dishonour of any cheque(s) given by any Allottee for any reason whatsoever.

ix) Failure to abide with the Development Control Regulations.

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x) Any other acts, deeds or things which the Allottee may commit, omit or fail to

perform in terms of this GTC, any other undertakings, affidavits, Agreements,

indemnities etc. or as demanded by the Company which in the opinion of the

Company amounts to an event of default and the Allottee shall be bound to

abide by the decision of the Company in this regard which shall be final and

binding on the Allottee.

(b) Unless otherwise provided in this GTC, upon the occurrence of any default under this

GTC including, but not limited to, those specified above, the Company may at its sole

discretion, upon notice to the Allottee, cancel the Allotment. If the Company decides

to cancel the Allotment, the Allottee shall have fifteen (15) days from the date of

issuance of the notice of cancellation by the Company to rectify the default as

specified in that notice. If the default mentioned in such notice is not rectified within

such fifteen (15) days, the Allotment shall stand cancelled without any further notice

or intimation to the Allottee and the Company shall have the right to retain, by way of

liquidated damages, the entire Earnest Money, along with the interest on delayed

payments, any interest paid, due or payable, any other amounts of non-refundable

nature as mentioned in this GTC. Upon such cancellation, the Allottee shall have no

right or interest on the Property and the Company shall be discharged of all its

liabilities and obligations under this GTC towards such an Allottee whereupon the

Company shall have the right to deal with the Property of the concerned Allottee in

any manner in which it may deem fit as if that Allotment had never been made. In

the event the Company elects to cancel the Allotment, any amount which is found to

be refundable to the Allottee over and above the amounts retainable by the Company

as aforesaid, shall be refunded by the Company by cheque encashable at Burdwan or

Kolkata and sent to the Allottee by registered/speed post to the last disclosed address

of the Allottee for correspondence where after the Allottee shall have no claim as

against the Company.

11. Club: All the Allottees will compulsorily have to become members of Club Sinclairs

(hereafter the "Club") upon payment of such entrance fee, periodical and other charges

as demanded by Sinclairs; as also abide by and comply with the rules and regulations of

the Club, all of which will fixed and/or determined by the Club from time to time. Any

default in payment of any of the fees or charges or non-compliance of any of the terms

and conditions of the Club will be deemed to be a 'default' within the meaning of

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Clause 9 and entitle the Company or the Maintenance Company, as the case may be, to

take the disciplinary measures for 'default' as set out herein.

12. Registration:

(a) The transfer deed of the Property will be executed and registered in favour of the

Allottee after the Property has been constructed and all payments payable by the

Allottee to the Company therefor, including pro rata share of EDC, if any, has been

paid to the Company which will however have to be prior to possession of the

Property is handed over to the Allottee. The Allottee will be required to pay the entire

stamp duty, registration fee, legal fees, other taxes and incidental charges for

registering the transfer deed as also other levies and/or charges as may be levied by

any Government and/or other authority from time to time and as applicable at the

time of registration, in addition to all prior deposits/payments made by the Allottee.

Such amount shall be deposited by the Allottees within 15 (fifteen) days from the date

of issuance of notice by the Company.

(b) The transfer deed will be drafted by the solicitors/ advocates of the Company and the

same shall be in such form and shall contain such particulars as may be approved by

the Company. No request for any change whatsoever in the transfer deed will be

entertained. The Allottee will be required to pay 1% (one percent) of the Total Price

of the Property to the Company towards documentation charges.

(c) If the Allottee does not get the transfer deed executed and registered within the date

notified by the Company, the Allotment will be liable to be cancelled as per Clause

9a(iii) of this GTC. In the event the Company opts not to cancel the Allotment at its

sole discretion, the Company shall have the right to withhold the handing over of

possession of the Property until the transfer deed is registered.

13. Possession:

(a) Based on the present plans and estimations, the Company will endeavor to complete

construction of the Property within 36 (thirty-six) months from the date the Company

receives the duly countersigned Allotment Letter from the Allottee or the date of

sanctions, whichever is later, save delay due to Force Majeure or due to failure by the

Allottee to timely pay any part or portion of the Total Price or any of the other

charges, deposits and/or payments to be made by an Allottee under the Allotment

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Letter or this GTC or any failure on the part of the Allottees to abide by any of the

terms and conditions of this GTC.

(b) The Company will offer possession of the Property in writing to the Allottee in terms

of this GTC. This possession notice will give 15 (fifteen) days time from the date of

its issuance to the Allottee to pay all remaining payable amounts and complete the

registration as mentioned in Clause 10. Upon completion of the registration and the

Allottee complying with all the other provisions, formalities, documentation, etc. as

may be prescribed by the Company in this regard and provided the Allottee is not in

default of any of the terms and conditions of this GTC, the Company shall give

possession of the Property to the Allottee simultaneously with the registration.

However, even if the Allottee fails to complete the registration for whatsoever reason

and thus fails or neglects to take possession of the Property, the Allottee will be

deemed to have taken possession on the 25th

day from the date of the notice by the

Company to complete registration and which date, for all purposes and irrespective of

the actual date when the Allottee takes physical possession of the Property, will be

the deemed the Possession Date. On and from the Possession Date:

(i) The Allottee shall become liable to pay the Maintenance and other Charges in

respect of the Property;

(ii) The Property shall be at the sole risk and cost of the Allottee and the Company

shall have no liability or concern therefor;

(iii) The Company shall have the right at its sole option to cancel the Allotment and

enforce the stipulations of Clause 9 above.

(c) The Company may, without prejudice to its other rights under this GTC, and at its

sole discretion, decide to condone the delay by the Allottee in taking possession of the

Property in the manner as stated above on the condition that the Allottee shall pay to the

Company holding charges for the entire period of delay, in addition to Maintenance and other

charges as provided in this GTC and the Allottee shall be deemed to have been fully satisfied

in all respects concerning construction and all other work relating to the Property. The

holding charges will be calculated at the rate of Rs.2/- (Rupees two) per Square Feet of the

Super Built Area of the Apartment per month and a period beyond 15 days will be calculated

as one (1) month and below the period of 15 days will be calculated as half (1/2) month.

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14. Compensation for delay in Possession: If the Company fails to deliver

(except due to reasons of force majeure or due to default by the Allottee or for reasons

beyond the control of the Company) within the period as mentioned in Clause 11 (a) above,

the Allottee will be entitled to compensation from the scheduled date of possession, till the

date the Company calls upon the Allottee to take over possession provided that the Allottee

has not committed any default or delay as per the terms of this GTC. The amount of

compensation that the Allottee will be entitled to will be Rs.2/- (Rupees two) per Square Feet

of the Super Built Area of the Apartment per month and a period beyond 15 days will be

calculated as one (1) month and below the period of 15 days will be calculated as half (1/2)

month.

15. Maintenance of the Nakshatra Heights:

(a) The Company may manage and maintain the common parts and utilities of Nakshatra

Heights and Renaissance by itself or may hand over these to the Maintenance

Company for which all Allottees may be required to execute the Management

Agreement with the Maintenance Company.

(b) The Allottee shall only have the user right over the common/ open areas within

Nakshatra Heights and the common areas of Renaissance.

(c) Required AMC charge for all capital equipment as and when required will have to be

paid by the Allottee.

(d) For the enjoyment of the Common Areas and Facilities of Nakshatra Heights and

Renaissance, the Allottees shall be liable to remit the proportionate charges therefor

(hereafter the "Maintenance Charges") as determined by and demanded by the

Company or the Maintenance Company, as the case may be.

(e) The Maintenance Charges shall become payable by the Allottees from the Possession

Date.

(f) The Maintenance Charges shall be recovered on such estimated basis on monthly,

quarterly or at such intervals as may be decided by the Company or the Maintenance

Company, as the case may be, and adjusted against the expenses as determined. The

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estimates of the Company or the Maintenance Company, as the case may be, shall be

final and binding on the Allottee. The Allottee shall pay the maintenance bills on or

before their due dates as will be intimated to the Allottee.

In order to secure adequate provision of the maintenance services and due

performance of the Allottee in promptly paying the maintenance bills and other

charges as raised by the Company or the Maintenance Company, as the case may be,

the Allottee shall pay the IFSD to the Company calculated at the rate of Rs.10/- per

Square Feet. This amount will be used by the Company/ Maintenance Company for

emergency repairs that may be required.

(h) In case any Allottee fails to pay any amount payable to the Maintenance Company:

(i) The defaulter Allottee shall not be entitled to avail any maintenance services;

(ii) Interest will become payable by the defaulter Allottee @ 15 % per annum on the

defaulted amount;

(iii) The Company or the Maintenance Company, as the case may be, shall adjust the

unpaid amount from the IFSD / IFMSD. If due to such adjustment in IFSD /

IFMSD falls below the six months average of the Maintenance Charges, then the

defaulter Allottee shall make good the resultant shortfall within fifteen days of

being called upon to pay the amount of the short fall.

(i) The Maintenance Company shall have the right to increase the IFSD from time to time

keeping in view the increase in the cost of maintenance services and the Allottee shall

pay such increases within fifteen (15) days of written demand by the Maintenance

Company or the Company on its behalf. If the Allottee fails to pay such increase in

the IFSD or to make good the shortfall as aforesaid on or before its due date, then the

Company may in its sole discretion have the right to re-enter upon the Property.

(j) The unpaid amounts of the Maintenance Company shall also be a first charge on the

Property similarly as EDC as mentioned in Clause 6 (d).

(k) To secure due payment of the Maintenance Charges, the Allottees will be required to

deposit with the Company the IFMSD which will be equivalent to 6 (six) months

monthly Maintenance Charges. As and when the Maintenance Charge is increased, all

Allottees will be required to deposit with the Company or the Maintenance Company,

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as the case may be, such further sum towards IFMSD so that at all material times the

IFMSD is equivalent to 6 (six) months monthly Maintenance Charges at that point of

time.

(l) The Company will transfer the unused IFMSD and the IFSD to the Maintenance

Company upon its formation. as and when formed.

16. Arrangement for supply of Electricity:

(a) The infrastructural cost including supervision change of WBSEDCL & Security

Deposit for power supply to individual flats, common areas, street lighting, water

pump, fire pump and other amenities by installing transformers, cables, switchgear

etc. as per guideline of WBSEDCL towards obtaining, installing power and for

providing electricity to common areas like street light, parks, green verge, community

facilities etc., shall be borne and payable by the Allottees proportionately. The

Company shall initially pay such amounts and then recover these deposits and other

charges from the Allottees. The exact amount recoverable from the Allottees will be

intimated to the Allottees as soon as the same is known to the Company but latest by

the time of possession.

(b) The Allottee will submit their respective applications to WBSEDCL for individual

connections to their Apartments and for separate energy meters at their own

responsibility and costs and will also pay ESD and service connection charges for

their individual electric meters allotted to the Allottee by WBSEDCL.

(c) The Company will submit the application to WBSEDCL for obtaining electricity

meter / prepaid connection, connection for common areas, water pumps, fire pumps,

street lighting and other amenities and initially pay the cost towards ESD & service

connection charge which the Company will recover from the Allottees

proportionately.

(d) In case the WBSEDCL declines to provide individual meters / prepaid connection to

the Allottees and makes provision for Bulk Supply, the Company shall provide sub-

meters to the Allottees upon payment of the proportionate ESD and service

connection charges payable to the WBSEDCL for such connection. The amount

recoverable from the Allottees will be intimated in due course as soon as the same is

known to the Company.

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(e) The ESD would be subject to revision and replenishment and the Allottees shall at all

times be liable to proportionately pay such revision and replenishment to the

WBSEDCL/Company as per the norms of WBSEDCL. In such cases the Allottees

may be required to enter into a separate agreement for supply of electricity through

sub-meters.

17. Diesel Generator Backup (DG):

The Allottees opting for power back up will be provided the same as per the

following table and will be charged extra both for installation and consumption of

power as intimated by the Company.

Installation Charges:

Power 500 W – Rs. 25,000/-

Power 1000 W – Rs. 35,000/-

The actual running cost and maintenance charges of DG will be separately charged

from the Apartment owners who will have opted to take power on the basis of

proportionate backup power subscribed by them.

18. Payment for replacement, up gradation of DG Sets, Electric Sub-stations,

Pumps, Fire Fighting Equipment and other Capital Plants/Equipments: As

and when any plant & machinery within Nakshatra Heights including but not

limited to, DG sets, electric sub-stations, pumps, fire fighting equipment, lifts or

any other plant, machinery and/or equipment of capital nature etc. require

replacement, up gradation, additions etc. the cost thereof shall be contributed by all

the Allottees in Nakshatra Heights, as the case may be, on pro-rata basis as will be

specified by the Maintenance Company. The Company or the Maintenance

Company shall have the sole authority to decide the necessity of such replacement,

upgradation, additions etc. including its timings or cost thereof and the Allottees

shall abide by the same.

19. Right of Allottee to use Common Areas and Facilities subject to payment of

total Maintenance Charges:

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(a) The Allottees shall be deemed to have purchased their respective Properties on the

specific understanding that their right to use the Common Areas and Facilities shall

be subject to timely payment of all charges as billed by the Maintenance Company

and performance by the Allottees of all their obligations under this GTC and the

Maintenance Agreement.

(b) Certain infrastructure and facilities will be common with other developments within

the Renaissance and the maintenance of the same will be in the hands of the

Maintenance Company or BDA. The Allottees shall pay Maintenance Charges for the

Common Facilities as demanded by the Maintenance Company or other such body as

appointed or specified by the Company and/or BDA.

20. Transfer of the Allotment: The Allottee shall not be allowed to transfer and/or

alienate the said property before a period of Two years from issuance of Allotment Letter

(Lock-in-period). After the lock-in-period at any time before registration of the Transfer

Document, the Allottee may transfer the provisional allotment made in his/ her favour as

per the terms mentioned hereinbelow;

An Allottee will be entitled transfer the provisional allotment under the Allotment Letter

upon payment of 3% of the Total Price of the then published price list of the Company;

provided however no amounts payable under the Allotment Letter to the Company is due

as on the date of such transfer.

21. Withdrawal of Allotment: If at any time before registration of the transfer deed, an

Allottee withdraws his/her/their allotment, the Company will refund all payments

without interest made after deducting the non refundable amounts paid by the

Allottee.

22. General:

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(a) The Allottees shall from time to time sign all applications, papers, documents,

agreements for maintenance, electricity etc and other relevant papers, as required, in

pursuance of the provisional Allotment made to the Allottee and do all acts, deeds

and things as the Company may require of the Allottee in the interest of Nakshatra

Heights and/or Renaissance.

(b) In case of joint allottees, any document signed/accepted/acknowledged by any one of

the Allottee shall be binding upon all the other Allottees.

(c) The Allottees may obtain finance from any financial institution / bank or any other

source but the Allottee's obligation to purchase the Property pursuant to this GTC shall

not be contingent on the Allottee's ability or competency to obtain such financing and

the Allottee will remain bound under this GTC whether or not he/she/they has/have

been able to obtain financing for the purchase of the Said Apartment.

(d) The expression ‘Allotment’ and all its grammatical variations, wherever used herein,

including the term "Allotment Letter", shall always mean ‘provisional allotment’ and

the Allotment will remain so till such time a formal transfer deed is not executed and

registered in favour of the Allottees of their respective Properties. The provisional

Allotment shall be subject to timely payment of the Total Price indicated in the Price

and Payment Schedule mentioned in the Allotment Letter.

(e) The layout plans and sanction plans, approximate areas of the Property specifications of

the materials proposed to be used, facilities and components of Nakshatra Heights

and/or Renaissance, are all tentative and are subject to changes and/or variations. The

Company may effect such variations, changes, additions, alterations, deletions and/or

modifications therein as it may, at its sole discretion, deem appropriate and fit or as it

may be directed / allowed by any concerned authority. However, the areas of the

Property may increase or decrease upto a maximum of 5% (five percent) of the

proposed areas mentioned in the Allotment Letters for which no claim will be

entertained. Though the Company shall endeavour to provide the Specifications as

shown in the Broucher, the Company shall at its sole discretion change such

specifications to other brands of equivalent quality, without intimation to any Allottee

and the Allottees shall not object to such changes in the Specifications. If due to such

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changes of specification and/or area of the Property, the Total Price of the Property

increases the Allottees shall be bound to pay such increase on demand by the Company

for reimbursement of the same without any objections.

(f) The layout plans of Renaissance and Nakshatra as shown in the Broucher are tentative,

subject to approval of the appropriate authorities and all changes, directions and/or

conditions imposed by the any statutory authorities at any stage, while approving the

proposed tentative layout plans, shall be binding on the Allottees and it will not be

necessary on the part of the Company to seek consent of the Allottees for the purpose

of making any changes in order to comply with such directions, conditions and/or

changes and that the layout plans that may be amended and approved from time to time

shall supersede the proposed tentative layout plan as given in the Brochure and shall

automatically form a part of this GTC.

(g) If due to operation of any law or any statutory order or otherwise as may be decided

by the Company, any portion of the Land is discontinued or truncated then the

Allottees affected by such discontinuation or truncation will have no right of

compensation from the Company. The Company will however, refund all amounts

received from such Allottees together with simple interest at the then prevailing rate

applicable to savings bank account in the event due to such discontinuation or

truncating, the Property can not be delivered to the Allottee .

(h) The Company shall have the right, without any prior intimation to any of the

Allottees to make any alterations, additions, improvements or repairs whether

structural or non-structural, interior or exterior, ordinary or extra ordinary in relation

to any unsold Apartments and none of the Allottees shall have any right to raise any

objections or make any claims whatsoever on this account.

(i) The Allottees shall at no time make any structural changes to their respective

Apartment or changes the external facade of the block where the Apartment will be

situated even after the execution of the transfer deed.

(j) In the event the Company is directed by any competent authority to earmark a

portion of the Land for construction of such flats and/or dwelling units for

Economically Weaker Sections of the Society (EWS), schools shops,

club/community centre, commercial premises/buildings etc., then the Allottees shall

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not have any right, title or interest in any form or manner in the Land on which such

flats and/or dwelling units for the EWS, school(s), shops, commercial premises,

religious building, club, community centre and/or the buildings constructed thereon

and facilities provided therein. Further, the Allottees shall not have any claim or right

to any commercial premises and/or buildings or interfere in the matter of booking,

allotment and finalisation of allotment of the flats and/or dwelling units for EWS,

school(s), shops, commercial premises/buildings, club / community centre or in the

operation and management of shops, clubs, community centre, school(s), commercial

premises, and/or buildings.

(k) The Company shall have the right to make additions to or put up additional structures

anywhere in Nakshatra Heights and/or Nakshatra Heights Land as may be permitted

by the competent authorities and such additional apartments/ blocks and/or structures

shall be the sole property of the Company and the Company will be entitled to deal

with it in its discretion without any interference by any of the Allottees. The Allottees

shall after taking possession of their respective Properties or at any time thereafter

shall have no right to object to the Company constructing or continuing with the

construction of the other building(s) / blocks outside/adjacent to the Property or

within Nakshatra Heights Land or claim any compensation or withhold the payment

of Maintenance or any other charges, as and when demanded by the Company or the

Maintenance Company, on the ground that the infrastructure required for the

Nakshatra Heights is not yet complete. Any violation of this condition shall entitle

the Company to seek remedies provided under this GTC in cases of breach, non-

payment, defaults etc.

(l) The Allottees will have only right of usage of all common areas and the roads and

other service areas etc. and the same will at all times belong to the Company or the

Maintenance Company or any other body created for that purpose. In case of repairs

to be undertaken for such areas/ roads or other services, the Company the

Maintenance Company or such other body created for that purpose, will undertake

the same and the cost for the same shall be proportionately reimbursed by the

Allottee.

(m) The Company shall have the right to raise finance and/or loan from any financial

institution and/or bank and, for that purpose, create mortgage, charge and/or

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securitization of the receivables or in any other mode or manner by charge/mortgage

of the Land subject to the condition that the Property shall be free from all

encumbrances at the time of execution and registration of the transfer deed.

(n) Water supply to Nakshatra Heights will be made available from deep tube wells or

any other available source as may be permitted by the concerned authorities. The

installation cost will be reimbursed by the Allottees and the usage charges will be

applicable on actual consumption basis. However, after handing over the common

areas and facilities of Nakshatra Heights, the Company or the Maintenance

Company, as the case may be, may make alternative arrangement for supply of

potable water from the concerned municipal/competent authority and create necessary

permissible infrastructure for the same at a cost which will be proportionately

reimbursed by the Allottees as and when intimated by the Company or the

Maintenance Company, as the case may be.

(o) The Allottees may be required to execute, if necessary, an agreement for transfer

within 15 (fifteen) days of being required in writing to do so by the Company in

which event the stamp duty and registration fees payble therefor will be exclusively

borne and paid by the Allottee.

(p) The Allottees may be required to pay taxes which will include but not be limited to,

all taxes paid or payable by the Company and/or its contractors by way of value

added tax, state sales tax, central sales tax, works contract tax, service tax and cess

and any other taxes by whatever name called levied or to be levied in connection with

the development and construction of Nakshatra Heights.

(q) On and from the Possession Date of the Property the Allottees shall become liable to

pay all Maintenance Charges, rates, taxes, levies, outgoings, deposits including

security deposits or assessments pertaining to the Property wholly and pertaining to

the common areas and the Community Hall proportionately.

(r) The terms and conditions contained in this GTC shall be deemed to form part of the

Allotment Letter and all allotments shall be strictly subject to the terms herein

contained. The contents of the accompanying Brochures, leaflets and inserts, except

the Application Form, contained in the application kit, are not legal documents and

are for information only. All designs, measurements, specifications mentioned and/or

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stated therein are tentative and subject to changes at the sole discretion of the

Company.

(s) All correspondence will be made with the Applicant at the address for

correspondence in the records of Company initially indicated in the Application

Forms, unless changed. Any change of address shall have to be notified in writing to

the Company's office and acknowledgement obtained for such change. In case of joint

Allottees, all communication shall be sent by the Company to the Allottee whose

name appears first in the Application Form and which, for all purposes, shall be

considered as served on both/all the Allottees.

(t) The Application Form, the Allotment Letter and delivery of the Property are all

subject to the approval of the plans by the Competent Authorities and grant of

permissions and clearances as may be required under any law for the time being in

force. In the event any approvals, permissions and/or clearances are not obtained, this

provisional Allotment of the Property shall stand cancelled and all monies received

by the Company till such date of cancellation shall be refunded in full but without any

interest nor deduction.

(u) In the event any Allottee fails to perform any of its obligations or commits any breach

of any of the terms and/or conditions mentioned in this GTC or the Allotment Letter

including, but not limited to, the occurrence of any event of default as stated in

Clause 9 of this GTC, the Company shall have the option to forfeit without any notice

to the Allottee the amount of the Earnest Money mentioned in the Allotment Letter

together with any interest paid (in case of installment payment plan) due or payable

along with other amounts of non-refundable in nature. If the amount paid by the

Allottee is less than the forfeitable amount then the Allottee shall make good the

shortfall of the forfeitable amount.

(v) The Company, at its sole discretion, may modify any of the conditions herein and the

Allottee shall not be entitled to object to the same in any manner, save that in case the

same be not acceptable to any Allottee, the monies paid by such Allottee will be

refunded, without interest.

(w) The Allottee agrees and undertakes that he/she/they shall join any association/society of

owners as may be intimated by the Company; on behalf of owners and to pay any fees,

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subscription charges thereof and to complete such documentation and formalities as

may be deemed necessary by the Company for this purpose. The onus of forming an

association/ society of owners will at all times be that of the Allottee/s.

(x) Roof of all the Blocks will be for the common use of all the residents of the Apartments

of that Block but the Company will have the right to put hoardings, communication

devices signage’s or its name or in the name of its affiliates or associates on the roof, on

the wall, common areas of the Complex, the maintenance cost whereof of such displays

however will be to the account of the Company.

23. Development Control Regulations: The Allottees shall abide by the terms and

conditions of the Development Control Regulations/ Hand Book to be issued by the

Company to enable it to regulate the future developments of Renaissance. The

Development Control Regulations shall at all times be considered a part of this

GTC and shall survive the transfer deed in respect of the Property in favour of the

Allottee. Any violation of this condition shall entitle the Company to seek remedies

provided under this GTC in cases of breach, non-payment, defaults etc.

24. Dispute Resolution: In the event of any dispute arising at any point of time

between any Allottee and/or Apartment owner or a few of them and the Company

or amongst the Allottees or Apartment Owners, the same shall be referred to

arbitration to the Chairman, BDA or such person nominated by him. The arbitration

shall be governed by the Arbitration & Conciliation Act, 1996 or any statutory

amendments or re-enactment thereof that will be in force at the time of the referral.

The arbitration will be held in Burdwan and its language shall be English. The

arbitrator may dispense with such procedures that are permissible with the consent

of the parties and which consent will be deemed to have been given by the Allottees

upon making the application in the prescribed Application Form of the Company

for allotment of an Apartment. The award will be final and binding upon the parties

to the arbitral referral.

25. Disclaimer: The Company and/or its affiliates, officers, directors, employees,

agents, members, servants shall not be liable for any direct, indirect, punitive,

incidental or consequential loss, claim, demand or damage suffered by any person

due to loss of documents, delay in postal services and/or any other eventualities

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beyond the control of the Company and the Allottees shall keep the Company

and/or its affiliates, officers, directors, employees, agents, members and/or servants

saved, harmless and indemnified with regard thereto.

GENERAL TERMS AND CONDITIONS - Shrachi...

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