Internet Banking Indian Bank RERA A/C.No. 7508059367 IFS Code.IDIB000E028 Edappally Branch
1. That the applicant agrees that he / she has applied for the allotment of the said Apartment with full knowledge of all the laws / notifications and rules applicable to the area in general and the Project includes the terms and conditions on which the Company has purchased the plot underneath for the Project which has also been explained by the Company and understood by him/her.
2. The allotment of residential Apartment is entirely at the discretion of the Company.The allotment of the said Residential apartment shall be confirmed on the issuance of the letter of Allotment or signing of the Flat Buyers Agreement on the Company’s standard format which has been read and understood by the applicant.
3. The applicant has fully satisfied himself about the rights, title, interest of the company in the said project. This is to be developed / constructed by the Company as per the prevailing statutory provisions and has further understood all limitations and obligations in respect thereof.
4. The applicant agrees that the amount paid with the Application and in instalment as the case may be, to a extent of 10% of the sale consideration of the residential apartment shall collectively constitute earnes money.
5. That it shall be incumbenton the Applicant to comply with the terms / time of payment and or other terms and conditions of the allotment /Flat buyers Agreement failing which the entire amount of earnest money, interest on delayed payment etc. shall be forfeited and the allotment / Flat Buyer’s agreement shall stand cancelled and the Applicant shall be left with no lien, right, title or any claim of whatsoever nature in the said apartment. The Company shall thereafter be free to resell and / or deal with the said apartment in any manner what so ever at its sole discretion. The Company shall have the first lien and charge on the said apartment for all dues payable by the Applicant to the Company.
6. The time of delivery of possession / completion of construction of the apartment is only tentative and is subject to force majeure which includes delaying completion of the construction for any reason beyond the control of the Company viz. non-availability of any building material, act of war or enemy action, or natural calamities or act of God or a result of any notice, order, rule, notification or order of the court or any other reason beyond the control of the Company or due to any restriction / prohibition imposed by the government. In any of the a fore said events, the Company shall be entitled to get a reasonable extension of time and the applicant shall have no right to claim any interest or other compensation.
7. That incase the Company condones any default either in the payment of instalments or in respect of other obligations at any particular instance, the same shall not be deemed to beawaiver of any stipulations contained in the letter of allotment.
8. That all payments in the terms here of shall be due and payable to the Company at Ernakulam and at no other place. Even if any payment is accepted by the Company at any other place other than Ernakulam the same shall not constitute the waiver of the stipulation that all payments are due and pay able at Ernakulam.
9. That the applicant shall inform the Company in writing any change in the mailing address mentioned in the application made by the applicant failing which all demands, notices etc. by the Company shall be mailed to the address given in the said application and deemed to have been received by the applicant on the expiry of one week from the date of dispatch irrespective of the fact whether or not the same has been received by the applicant. In case of joint applicant, all communication shall be sent to the first named applicant in their application.
10. All statutory charges, taxes, cess and other levies demanded or imposed by the concerned authorities shall be payable proportionately by the applicant from the date of booking as per demand raised by the Company
11. The maintenance of the Residential complex/Premises will include- lift, lighting of common area, plumbing services, DG sets, Electrical services, civil work, spare parts, security, land scaping & maintenance of greenery, white wash, water supply/tanks, common communication system(if implemented).
12. A common pool of fund shall be maintained for upkeep of the buildings and their maintenance. The initial contribution will come from the amount collected by the Company at the time of purchase of the flat by the applicant {Interest Free Maintenance Security (IFMS)}. Subsequently monthly maintenance charges shall be payable by all the residents to the Residents association. Any delay in payment will render the applicant liable to pay interest @ 12% per annum. Non-payment of any charges within the time specified shall also disentitle the applicant from enjoyment of common areas and services.
13. The Applicant shall execute a Maintenance Agreement, containing detailed terms and conditions and scope of maintenance before taking delivery or possession of the Apartment so as to ensure maintenance and upkeep of the common areas, facilities and services of the Residential Complex.
14. Loan from financial institution to finance the said residential apartment may be availed by the applicant. However, if a particular institution /bank refuses to extend financial assistance on any ground, the applicant shall not make such refusal an excuse for non-payment of further instalments/ dues.
15. The applicant undertake to abide by and comply with all laws, rules and regulations, terms and conditions applicable /made applicable to the said residential project/apartment.
16. That it shall be the condition of allotment that the use of the Apartment shall be residential only and shall not be altered.
17. The applicant shall have no objection in case the company creates a charge on the project land during the course of development of the Project for raising loan from any Bank / Financial Institution. However such charge, if created shall be got vacated before handing over the possession of Residential Apartment to the applicant.
18. The courts of Ernakulam shall have jurisdiction in case of any dispute.
19. Registration charges, Stamp Duty, Legal charges, court fee and documentation charges etc shall be payable extra at the time of Registration.
20. Any extra work executed in the Flat shall be charged separately.
21. Individual electric meter connection charges along with proportionate cost towards load sanction, supply, security deposit etc. shall be charged extra at the time of possession as decided by the company.
22. Fire Fighting Connection charges (FCC) and other utility charges include automatic fire engine and pumps, wet sprinklers system in basement and provision of Fire Fighting equipment on each floor and equipment and installation charges for Transformer, Panel, VCB’s, cable, pumps, common area lighting, reticulated cooking gas etc.
23. The Applicant and the Joint Applicant declare and affirm that in case of joint allotment failure to pay by anyone shall be deemed as failure to pay by both /all and the joint applicant shall be treated as one single person for the purpose of the application and both (all) shall be liable for the consequences jointly as well as severally.
