SAAN VERDANTÉ, SECTOR-95, GURGAON APARTMENT BUYER S AGREEMENT

Transcription

1 SAAN VERDANTÉ, SECTOR-95, GURGAON APARTMENT BUYER S AGREEMENT PLEASE READ THE FOLLOWING INSTRUCTIONS CAREFULLY The allotment and sale of an Apartment in SAAN VERDANTÉ, SECTOR-95, GURGAON, HARYANA is subject to the terms and conditions as set out in this Apartment Buyer s Agreement ( Agreement ) along with the Annexures attached hereto and upon its execution the Allottee agrees and confirms having read, understood and accepted and shall otherwise be deemed to have read, understood and accepted this entire Agreement. The Company shall reject and refuse to execute this Agreement in case any amendment, overwriting, correction, cancellation, erasure, alteration or modification is made to any provision of this Agreement unless as may otherwise be separately advised in writing by the Company. Instructions for execution of the Apartment Buyer s Agreement (i) (ii) (iii) (iv) Kindly manually sign your full signature (as in your Application Form and as used to operate your bank account) along with the signatures of each of the Joint Applicants, if any, at the bottom of each and every page of this Agreement, including all its Annexures, except the blank pages, if any. Kindly also sign on the stamp paper attached in both the copies of this Agreement which forms and is an integral part of this Agreement. Kindly affix, at the place provided, your latest color photograph including the photograph of each of the Joint Applicants, if any, and respectively sign across the photograph(s). Kindly also provide a self-attested true copy of your PAN Card along with your residential address proof, including of each of the Joint Applicants, if any. Kindly ensure to provide your specimen signature and the signature of each of the Joint Applicants, if any, duly verified by the branch manager of the bank where you and the Joint Applicants, if any, hold an account. Please send both the signed sets of the Agreement along with requisite documents to the Company at its address mentioned herein, within a period of Thirty (30) days, either in person or through registered post /speed post. For SAAN PROCON PVT. LTD. Page 1 ALLOTTEE(S)

2 Clause. No. INDEX Heading Page No. - Parties 4 - Representations of the Company and the Confirming Party 7 - Representations of the Allottee 8 1 Definitions 9 2 Interpretation 13 3 Consideration and Conditions 14 4 Apartment Area and Common Area and Facilities 18 5 Car Parking Spaces 19 6 Community Club and Charges 20 7 Earnest Money 21 8 Time is the essence 21 9 Terms of Payment Foreign Exchange Management Act Apportionment of Payments Company s Charge on the Apartment Alterations/Modifications in the Layout Plan and Designs Right of the Company to make additional constructions Alteration of unsold Apartments Possession of the Apartment Conveyance of the Apartment Maintenance of the Group Housing Colony Power Back-Up and Fire Safety 32 Payment for Repairs, Replacement, Upgradation, Addition of 20 Lifts, DG Sets, Electric Sub-Stations, Pumps, Fire-Fighting 33 Equipment and Other Capital Plant and Equipment 21 Right to enter the Apartment for Repairs and Maintenance Insurance Permitted use of the Apartment Lease of open spaces on Rooftop / Terraces Use of Basement and Service Areas General Compliance with respect to the Apartment Compliance of all Applicable Laws and Notifications Shops, Schools, Commercial Premises and Buildings Mortgage, Finance and First Charge Agreement Subordinate to Mortgage by the Company Association of Apartment Owners Assignment and Transfer of Rights Provisions of Agreement Applicable on Occupiers/Subsequent Owners of the Apartment Further Assurances Entire Agreement Agreement Specific only to the Apartment 38 For SAAN PROCON PVT. LTD. Page 2 ALLOTTEE(S)

3 37 Events of Default and Consequences General Clauses Waiver not a limitation to enforce Severability Force Majeure Indemnification Copies of the Agreement Binding Nature Notices Joint Allottees Place of Execution Arbitration Governing Law and Jurisdiction 43 - Signature and Witness 44 Annex A Payment Plan Annex B Apartment Floor Plan Annex C Specifications Annexures For SAAN PROCON PVT. LTD. Page 3 ALLOTTEE(S)

4 APARTMENT BUYER S AGREEMENT SAAN VERDANTÉ, SECTOR 95, GURGAON, HARYANA Affix recent color passport size photograph and sign across it. Affix recent color passport size photograph and sign across it. Affix recent color passport size photograph and sign across it. 1 st Allottee 2 nd Allottee 3 rd Allottee THIS APARTMENT BUYER S AGREEMENT is executed at Gurgaon, Haryana, on this the day of, 20, BY AND BETWEEN M/s SAAN PROCON PVT. LTD., a Company incorporated under the Indian Companies Act, 1956, having its corporate office at 11, Community Centre (1 st Floor), East of Kailash, New Delhi , (hereinafter referred to as the Company, which expression shall, unless it be repugnant to the subject, context or meaning thereof, mean and shall be deemed to mean and include its successors-ininterest and permitted assigns) acting through its duly constituted and authorized signatory, Mr/Miss/Mrs duly authorized vide Board Resolution dated, 20, of the First Part; For SAAN PROCON PVT. LTD. Page 4 ALLOTTEE(S)

5 AND (hereinafter singly/jointly, as the case may be, referred to as the Allottee, which expression shall, unless it be repugnant to the subject, context or meaning thereof, mean and shall be deemed to mean and include the Allottee s legal heirs, executors, administrators, legal representatives, successors and permitted assigns) of the Second Part; AND/OR, a Partnership Firm/Hindu Undivided Family/ Limited Liability Partnership, having its office at, acting through its authorized Partner/Karta/Authorized Signatory, Mr/Miss/Mrs (hereinafter referred to as the Allottee, which expression shall, unless it be repugnant to the subject, context or meaning thereof, mean and shall be deemed to mean and include all the partners of the Firm/Karta and each member of the HUF along with their respective legal heirs, legal representatives, administrators, executors, successors and permitted assigns) of the Second Part; AND/OR, a Company incorporated under the Indian Companies Act, 1956, having its registered office at, acting through its duly constituted and authorized signatory, Mr/Miss/Mrs duly authorized vide Board Resolution dated, 20, (hereinafter referred to as the Allottee, which expression shall, unless it be repugnant to the subject, context or meaning thereof, mean and shall be deemed to mean and include its successors-in-interest and permitted assigns), of the Second Part; For SAAN PROCON PVT. LTD. Page 5 ALLOTTEE(S)

6 AND/OR, a Society registered under The Societies Registration Act, 1860, having its registered office at, acting through its duly constituted and authorized signatory, Mr/Miss/Mrs, duly authorized vide Resolution dated, 20, (hereinafter referred to as the Allottee, which expression shall, unless it be repugnant to the subject, context or meaning thereof, mean and shall be deemed to mean and include its successors-in-interest and permitted assigns) of the Second Part; AND/OR, a Trust registered under the Indian Trusts Act, 1882, having its registered office at, acting through its Trustee, Mr/Miss/Mrs, duly authorized vide Resolution dated, 20, (hereinafter referred to as the Allottee, which expression shall, unless it be repugnant to the subject, context or meaning thereof, mean and shall be deemed to mean and include its successors-in-interest and permitted assigns) of the Second Part; AND M/S N.A. BUILDWELL PVT. LTD., a Company incorporated under the Indian Companies Act, 1956, having its registered office at , 2 nd Floor, Rectangle-I, D-4, District Centre, Saket, New Delhi (hereinafter referred to as the Confirming Party which expression shall, unless it be repugnant to the subject, context or meaning thereof, mean and shall be deemed to mean and include its successors-in-interest and permitted assigns) acting through its duly constituted Attorney and Authorized Signatory, Mr. Anmol Arora, duly authorized vide General Power of Attorney dt. 20/12/2011, of the Third Part. For SAAN PROCON PVT. LTD. Page 6 ALLOTTEE(S)

7 The Company, the Allottee and the Confirming Party are hereinafter individually referred to as Party and collectively as Parties. WHEREAS: REPRESENTATIONS OF THE COMPANY AND THE CONFIRMING PARTY The Company and the Confirming Party hereby represent that:- A. The Confirming Party is the absolute owner of the freehold land admeasuring approximately 17 acres situated at Village Wazirpur, Sectors-92 & 95, Gurgaon (Haryana) (hereinafter referred to as the Land. B. The Confirming Party obtained License No. 216 of 2007 dated 05/09/2007 (hereinafter referred to as the License ) from the DGTCP under the provisions of the Haryana Development and Regulation of Urban Areas Act, 1975 and the rules made thereunder for using the Land for the construction and development of the Group Housing Colony thereon and has obtained/ is in the process of obtaining further necessary sanctions, permissions and approvals from the concerned authorities for the Group Housing Colony. C. The Confirming Party executed a Development Agreement with its holding Company, M/s Raheja Developers Ltd. (Developer), for developing a residential Group Housing Project on the said Land. D. The Company has entered into an Agreement with the Confirming Party and the Developer (hereinafter referred to as the Agreement ) for the construction and development of a Group Housing Colony on the portion of the Land situated in Sector-95, Gurgaon, pursuant to which the Confirming Party has handed over the vacant and peaceful possession of the said portion of the Land to the Company for developing a Group Housing Colony. The Company has the right and is fully authorized to receive applications for sale of apartments, make and negotiate terms and conditions for such sale, receive the Total Consideration (as hereinafter defined) and other payments towards costs, charges and dues as stated in this Agreement or as otherwise may be due from the Allottee and give/take valid discharge/receipts thereof in its own name, make allotments of apartments, execute this Agreement, the Conveyance Deed and other incidental documents as may be necessary to give effect to this Agreement, and otherwise to do all such acts, deeds and things, as may be required or deemed necessary in order to give effect to this Agreement. E. The Company, pursuant to the Agreement, proposes to develop the said portion of the Land and construct, in a planned and phased manner, a group housing colony to be known as SAAN VERDANTE (hereinafter referred to as the Group Housing Colony or the "Project"), which shall, inter alia, comprise buildings containing residential apartments with suitable infrastructural facilities including basement parking (hereinafter collectively referred to as the Towers ) in accordance with the Building Plans as approved by the DGTCP vide Memo No dated 08/07/2009, as revised vide Memo No. ZP.298/AD (RA)/2016/13847 dated 13/07/2016. Such plans are subject to change, as may be deemed necessary or required, in the interest of the development of the Group Housing Colony and as may be approved by the DGTCP or any other Government Authority. F. The Parties are duly authorized and competent to enter into this Agreement. For SAAN PROCON PVT. LTD. Page 7 ALLOTTEE(S)

8 REPRESENTATIONS OF THE ALLOTTEE The Allottee hereby represents that:- G. The Allottee, relying solely on his own judgement and investigation and with full knowledge of the laws, notifications and rules applicable to him and the Land and the Project and confirming and certifying his eligibility to acquire an apartment, has applied to the Company for allotment of an apartment in the Group Housing Colony. H. Pursuant to the receipt of the Application and acceptance of terms and conditions of allotment by the Allottee, the Company has provisionally allotted the Apartment No. (hereinafter referred to as the Apartment ), admeasuring approximately sq. ft. ( sq. mtrs.) ( Apartment Area ), located on Floor in the Olympus / Babylon Tower, and the right to exclusive use of Open/Covered Car Parking space(s), for such Consideration (as hereinafter defined) payable to the Company, as described in the Payment Plan vide Annexure A attached to this Agreement. I. The Allottee has required and the Confirming Party and the Company have enabled the Allottee to inspect the ownership records pertaining to the Land, approvals, including the License and all other documents relating to the title, competency and the rights of the Confirming Party and the Company to construct, market and sell the Apartments in the Group Housing Colony and all the limitations and obligations of the Confirming Party/Company in respect thereof. The Allottee has thus carried out complete due diligence of the records/documents pertaining to the Land as well as of the approvals and sanctions of statutory authorities for development and construction of the Group Housing Colony and is fully and completely satisfied with the same. J. The Allottee undertakes and agrees to abide by all the express and implied terms and conditions of this Agreement and also those conditions, restrictions and other obligations imposed by the competent authority under the License or as may be imposed by any Government Authority at any time during the development of the Group Housing Colony. The Allottee further agrees and undertakes to abide by the applicable Zoning Plans, Building Plans and all laws, bye-laws, rules, orders, regulations and policies as are applicable to the Apartment and/or the Group Housing Colony on the date of this Agreement or as may be notified at any time in the future under any applicable Law by any competent authority. K. The Allottee acknowledges and agrees that the Company has readily provided all information and clarifications as have been required by the Allottee and that no reliance has been placed upon any architect s plans, sales brochures, advertisements, representations, warranties or other statements or estimates of any nature whatsoever, whether written or oral, made or purported to have been made by the Company, its agents, any brokers or any other persons or its Channel Partners (as defined herein) and the Allottee has, without any promise or assurance otherwise than as contained in this Agreement, relied upon personal discretion and independent judgment and investigation in deciding to apply for allotment and enter into this Agreement to purchase the Apartment in the Group Housing Colony after having conducted all due diligence in this regard. For SAAN PROCON PVT. LTD. Page 8 ALLOTTEE(S)

9 L. The Allottee confirms executing this Agreement with full knowledge & understanding of its terms, conditions and implications, and is in unconditional and unqualified concurrence and agreement with the rights, duties, responsibilities, obligations of the Parties under this Agreement. M. The Company, relying upon the confirmations, representations and assurances of the Allottee and the unqualified consent to faithfully abide by all the terms, conditions and stipulations as are contained in this Agreement, has accepted the Application in good faith for the allotment of the Apartment on the terms and conditions as are contained herein. NOW, THEREFORE, THIS AGREEMENT WITNESSETH AND IT IS HEREBY AGREED AND DECLARED BY AND BETWEEN THE PARTIES AS FOLLOWS: 1. DEFINITIONS In this Agreement, unless repugnant to or contrary to the subject, context or meaning thereof, the following terms as used in this Agreement, shall have the same meanings as assigned to them hereunder and words and expressions not specifically defined hereunder shall have the meanings as the context in which they are used may ordinarily demand and as may be consistent with the intent and meaning of the provision wherever used in this Agreement:- Act shall mean The Haryana Development and Regulation of Urban Areas Act, Agreement shall mean this Apartment Buyer s Agreement executed by the Company, the Confirming Party and the Allottee with its recitals, annexures, schedules and terms and conditions for the allotment of the Apartment. Apartment shall have the same meaning as ascribed to it in Recital H of this Agreement. Apartment Act shall mean the Haryana Apartment Ownership Act, 1983, including any statutory enactments or modifications thereof. Apartment Area shall mean and include the carpet area, exclusive balcony area, exclusive terrace area plus proportionate share in the common areas and facilities. Application shall mean the application for provisional allotment of the Apartment. Application Form shall mean the form submitted by the Allottee for making the Application. BSP shall mean the Basic Sale Price for the Apartment and shall have the same meaning as ascribed to it in Clause 3.1 of this Agreement. Building Plans shall mean the Building Plans of the Group Housing Colony as approved under the Punjab Scheduled Roads and Controlled Areas Restriction of Unregulated Development Rules, 1965 (hereinafter called the Punjab Rules) and shall include all subsequent revisions thereof as well as all applicable enactments, rules, regulations, bye laws etc. Car Parking Spaces shall have the same meaning as ascribed to it in Clause 5 of this Agreement. For SAAN PROCON PVT. LTD. Page 9 ALLOTTEE(S)

10 "Carpet Area" shall mean the net usable floor area of an apartment, excluding the area covered by the external walls, areas under services shafts, exclusive balcony or verandah area and exclusive open terrace area, but includes the area covered by the internal partition walls of the apartment. Channel Partner shall mean any entity duly authorized by the Company to solicit applications for apartments in the Group Housing Colony and engaged by prospective buyers at their sole option and discretion and for which such Channel Partner is paid commission / brokerage / margin on the Total Consideration by the Company for each apartment booked through the Channel Partner, it being specifically understood and agreed by the Allottee that such Channel Partner is not and shall not be deemed to be an agent or partner of the Company. Commitment Period shall have the same meaning as ascribed to it in Clause 16.1 of this Agreement. Common Areas and Facilities shall mean all such parts/areas which the Allottee shall use on a shared non-exclusive basis with other occupants of the Group Housing Colony including but not limited to corridors and passages, lift lobby/ies, atrium, stilts, common toilets, AHU rooms, security/fire control room(s), lift machine rooms, lift shafts, all electrical shafts, D.G. shafts, A.C. shafts, pressurization shafts, plumbing and fire shafts, garbage chutes on all floors and rooms, overhead tanks, common staircases, common terraces, mumties, guard houses, and water tanks etc. In addition, entire service area in the basement including but not limited to electric substation, transformers, D.G. set rooms, underground water and other storage tanks, pump rooms, maintenance and service rooms, lift shaft, and any other space used for services shall be counted towards Common Areas. Installation of common amenities such as power, light, gas, water, heating, refrigeration, air conditioning, sewerage, effluent treatment, elevators, tanks, pumps, ducts and such other common amenities as may be provided anywhere in the Project from time to time will also form a part of Common Areas and Facilities. The Common Areas and Facilities as provided herein shall remain undivided and no owner or occupier of any Apartment or any person shall be entitled to seek a partition or division of any part thereof. Completion Certificate shall mean the Completion Certificate for the Group Housing Colony as may be issued by the DGTCP under the Punjab Rules (as defined herein), and shall include any Partial Completion Certificate. Conveyance Deed shall mean the Deed of Conveyance by which the title to the Apartment is lawfully conveyed and vested in favour of the Allottee in accordance with this Agreement and applicable Laws. DC or Development Charges shall mean the amount payable by the Allottee to the Company towards carrying out the development works inside or around the Group Housing Colony, including but not limited to: a. External Development Charges ( EDC ) and Infrastructure Development Charges ( IDC Rs. 250/- per Sq.ft. of the Apartment Area. For SAAN PROCON PVT. LTD. Page 10 ALLOTTEE(S)

11 b. The cost of such other development/construction works as may be undertaken by the Company within or around the Group Housing Colony that are not charged specifically elsewhere. c. Any revision in any of above, even if retrospective in effect, and all costs and interest on such amounts till the date of demand to the Allottee at the rate mentioned in the LOI issued by DGTCP for the Group Housing Colony. d. Cost incurred by the Company on the capital invested in making the payment of any of the Development Charges. Such cost shall be determined at the rate of 15% p.a. Declaration shall mean the declaration (including any amendment thereto), whether interim or final, filed or to be filed by the Company under the Apartment Act or any other applicable law, with the competent authority with regard to the Apartment/Tower/Group Housing Colony. Delay Compensation shall have the same meaning as ascribed to it in Clause 16.6 of this Agreement. DGTCP shall mean the Director General, Town and Country Planning, Haryana formerly known as Director, Town & Country Planning ( DTCP ), and any other officer as may duly be authorized to exercise his powers. Earnest Money shall have the same meaning as ascribed to it in Clause 7 of this Agreement. EDC or External Development Charges shall mean amounts paid or payable by the Company or the Confirming Party to DGTCP, whether in lump sum or installments (as per policy), including any revision thereof, even if retrospective in effect; and all costs and interest on such amounts till the date of demand to the Allottee at the rate mentioned in the LoI issued by DGTCP for the Land. Floor Plans shall mean the Floor Plans of the Apartment as depicted in Annexure C annexed to this Agreement. Force Majeure shall mean any event beyond the reasonable control of the Company or the Confirming Party which, by itself or in combination with other events or circumstances, cannot (i) by exercise of reasonable diligence, or (ii) despite adoption of reasonable precautions, be prevented, or caused to have been prevented, and which impairs or otherwise adversely affects the Company s/confirming Party s ability and capacity to perform its/their obligations under this Agreement, and which events and circumstances shall include, but shall not be limited to, a) acts of God, such as fire (including fire resulting from explosion), lightning, drought, flood, typhoon, hurricane, tornado, cyclone, tempest, storm, inundation, earthquake (including earthquake shock and fire), epidemics and other natural disasters; b) mischief, explosions (including fire resulting from explosion), aircraft impact damage; c) strikes, lock outs or industrial disputes; d) non-availability of cement, steel or other construction material due to strikes, lock outs or industrial disputes at manufacturers, suppliers, transporters or other intermediaries or otherwise; e) war and hostilities of war (whether war be declared or not), riots or civil commotion; f) delay or imposition of any adverse condition or obligation in any approval from any Government Authority, including but not limited to delay in issuance of For SAAN PROCON PVT. LTD. Page 11 ALLOTTEE(S)

12 Occupation and Completion Certificate; g) promulgation or amendment of any law, rule or regulation or the issue of any injunction, court order or direction from any Government Authority that prevents or restricts the Company/Confirming Party from complying with the terms and conditions as contained in this Agreement; h) political unrest and i) any event or circumstance similar or analogous to the foregoing. Government Authority shall mean and refer to any Government Authority, statutory authority, government department, agency, commission, board, tribunal or court or other law, rule or regulation making entity having or purporting to have jurisdiction on behalf of the Republic of India or any state or other subdivision thereof or any municipality, district or other subdivision thereof, as may be applicable and the expression Government Authorities shall be construed accordingly; Grace Period shall have the same meaning as ascribed to it in Clause 16.1 of this Agreement. Group Housing Colony and Project shall have the same meaning as ascribed to it in Recital D of this Agreement. Holding Charges shall have the same meaning as ascribed to it in Clause 16.2 of this Agreement. HUDA shall mean the Haryana Urban Development Authority, a statutory body created under the Haryana Urban Development Act, 1977, by the Government of Haryana. IDC or Infrastructure Development Charges shall mean amounts paid or payable by the Company or Confirming Party to DGTCP under the head IDW or Internal Development Works, whether in lumpsum or installments (as per policy), including any revision thereof even if retrospective in effect and all costs and interest on such amounts till the date of demand to the Allottee at the rate mentioned in the LoI issued by DGTCP for the Land. IFMS shall mean Interest-Free Maintenance Security Deposit and shall have the same meaning as ascribed to it in Clause 18.2 of this Agreement. Land shall have the same meaning as ascribed to it in Recital A of this Agreement. Law shall include all statutes, enactments, acts of legislature or parliament, state legislature, local laws, ordinances, rules, bye-laws, regulations, notifications, guidelines, policies, directions, directives and orders of any Government, statutory authority, tribunal, board, court or recognized stock exchange and, if applicable, international treaties and regulations; Layout Plan shall mean the layout plan of the Group Housing Colony within its peripheral boundaries. License shall have the same meaning as ascribed to it in Recital B of this Agreement. LOI shall mean Letter of Intent issued by DGTCP for the Project. For SAAN PROCON PVT. LTD. Page 12 ALLOTTEE(S)

13 Maintenance Agency shall mean such Person/Agency appointed/designated by the Company for providing and carrying out any work of maintenance and upkeep of the Group Housing Colony. Maintenance Agreement shall mean the maintenance agreement to be executed by the Allottee with the Company and/or Maintenance Agency on or before assuming possession of the Apartment. Notice of Possession shall have the same meaning as ascribed to it in Clause 16.2 of this Agreement. Occupation Certificate shall mean the Occupation Certificate issued by the DGTCP under the Punjab Rules for any or all of the Towers constructed in the Group Housing Colony, and shall include any Partial Occupation Certificate. Other Charges shall mean to include various charges not specifically mentioned, charged or quantified in this Agreement as may be applicable to the Apartment. Payment Plan shall mean the Payment Plan attached to this Agreement as Annexure A. Person shall mean any individual, sole proprietorship, unincorporated association, body corporate, corporation, joint venture, trust, society, any government authority or any other entity or organization. PLC shall mean Preferential Location Charges as referred to in Clause of this Agreement. Punjab Rules shall mean the Punjab Scheduled Roads and Controlled Areas Restriction of Unregulated Development Rules, RWA shall have the same meaning as ascribed to it in Clause 31 of this Agreement. Total Consideration shall have the same meaning as ascribed to it in Clause 3.1 of this Agreement. TP Act shall mean the Transfer of Property Act, Zoning Plan shall have the same meaning as ascribed to it under the Punjab Rules. 2. INTERPRETATION Unless the context otherwise requires, in this Agreement:- 2.1 The use of words in the singular shall include the plural and use of words in the masculine, feminine or neuter gender shall include the other two. For SAAN PROCON PVT. LTD. Page 13 ALLOTTEE(S)

14 2.2 Reference to any law shall include such law as from time to time enacted, amended, supplemented or re-enacted. 2.3 Reference to the words include or including shall be construed without limitation. 2.4 Any reference in this Agreement to the terms herein, hereto, hereunder, hereof, or thereof or similar terms used in this Agreement shall refer to this entire Agreement and not to the particular provision in which the term may be used except where the context otherwise requires. Unless otherwise stated, all references herein to clauses, sections or other provisions are references to clauses, sections or other provisions of this Agreement. 2.5 Reference to this Agreement, or any other agreement, deed or other instrument or document shall be construed as a reference to this Agreement, or such other agreement, deed or other instrument or document as the same may, from time to time, be amended, varied, supplemented or novated. 2.6 The headings/captions in this Agreement are indicative at best and have been given for the sake of convenience and do not purport to define, limit or otherwise qualify the scope of this Agreement or the intent, extent and application of any provision carrying such headings/captions. The construction and interpretation of any provision in this Agreement shall be as is consistent with its intent and purpose by reading the Agreement as a whole and not in isolation or in parts thereof or only in terms of the headings/captions provided. 2.7 The recitals are an integral part of this Agreement and any provision contained therein, including any representation, shall be binding upon the Parties. 3. CONSIDERATION AND CONDITIONS 3.1 In accordance with the terms and conditions of this Agreement as agreed between the Parties, the Company hereby agrees to sell to the Allottee and the Allottee hereby agrees to purchase the Apartment No., having Apartment Area admeasuring approximately Sq.ft. ( Sq.M.) on the Floor in the Olympus /Babylon Tower in the Group Housing Colony, SAAN Verdanté, at a Basic Sale Price of Rs. (Rupees ) per sq.ft. of the Apartment Area i.e. a total of Rs. (Rupees ), hereinafter referred to as the Basic Sale Price (BSP). In addition to basic sale price of the said Apartment, the Allottee has agreed and accepted to pay the following costs, charges, deposits, etc., as set-out hereinafter and described in the Payment Plan at Annexure-A, which shall form part of the Total Consideration for the said Apartment. For SAAN PROCON PVT. LTD. Page 14 ALLOTTEE(S)

15 3.1.1 Development Charges ( DC ): This includes External Development Charges ( EDC ) and Infrastructure Development Charges ( IDC Rs. 250/- per Sq.ft. of the Apartment Area Preferential Location Charges ( PLC Rs. per Sq.ft. of the Apartment Area Car Parking : (i) Covered Car Parking Rs. 3,50,000/- per car parking space. (ii) Open Car Parking Rs. 2,50,000/- per car parking space Club Membership of Rs. 2,00,000/- (Rupees Two Lakh only) Power Back-up Rs. 25,000/- per KVA Interest Free Maintenance Security Rs. 100/- per sq.ft. on the Apartment Area. All applicable taxes/charges shall be additionally payable by the Allottee. 3.2 That besides the above, Allottee shall also be required to pay any costs or charges that may be incurred by or on behalf of the Company or the Confirming Party as required or levied by any Government Authority, including any revisions thereof, even if levied with retrospective effect, in connection with the development of the Group Housing Colony, including any development work to be undertaken by the Company as may be required by any Government Authority. Such charges/revisions/costs, if any, shall be payable by the Allottee upon intimation by the Company. 3.3 The Allottee also acknowledges and understands that since the Agreement is fundamentally contingent in nature (i.e., the successful consummation thereof resulting in conveyance of the Apartment is not automatic and guaranteed result of entering into this Agreement or payment of the Sale Consideration), therefore the Allottee shall not derive any right, title or interest whatsoever in any immovable property or in the said Apartment until its final completion and successful conveyance thereof. Subject to compliance with the obligations undertaken by the Allottee hereunder, the Company and the Confirming Party have promised to transfer the ownership of the said Apartment which shall itself be subject to the successful culmination of this Agreement till that stage. In the event that this Agreement does not successfully culminate in the transfer of the said Apartment to the Allottee for any reason or on any ground available to the Parties hereunder, the Allottee shall only be entitled to refund (if any) in the manner and to the extent agreed herein. 3.4 The Allottee also understands and confirms that the Company shall provide, upon payment for exclusive use, a minimum of One (1) number of covered car parking space which is mandatory with the Apartment. Such car parking spaces shall be provided only within the Group Housing Colony and shall be used only to park cars meant for private use and for no other purpose. The Allottee further confirms and agrees that there shall only be the right to exclusive use of but no title of ownership over any of such car parking spaces. For SAAN PROCON PVT. LTD. Page 15 ALLOTTEE(S)

16 3.5 The Allottee agrees to pay the Total Consideration along with all other applicable costs, charges and dues as per the Payment Plan and as may otherwise be applicable to the Apartment. The Allottee understands that the Total Consideration does not include Other Charges, which shall be communicated by the Company subsequently. The Allottee agrees to pay all such charges as may be communicated and demanded by the Company. 3.6 The Allottee hereby confirms and agrees to remain bound to and be liable for payment of the following:- (i) (ii) (iii) (iv) All applicable rates, taxes, charges, and all other dues or cess of any kind/amount whatsoever, whether levied or leviable in future, on the Group Housing Colony, or in relation to the Apartment and payable to concerned authorities and the same shall be paid by the Allottee on pro-rata basis as may be apportioned by the Company and/or the Maintenance Agency, as the case maybe. If any charges/taxes/levies are increased (including with retrospective effect, if any) after the Conveyance Deed has been executed, then all increased charges/taxes/levies shall be treated as unpaid portion of the Total Consideration. The Company shall have a first charge/lien on the Apartment for recovery of such dues and the Allottee agrees and undertakes to keep the Company fully harmless and indemnified in respect of any such liability at all times. Property tax or any other applicable fee or cess, as and when levied, by any local body/statutory authority until such time that the Apartment is not separately assessed for such tax, fee or cess, the same shall be payable by the Allottee on pro-rata basis as may be determined by the Company and/or the Maintenance Agency. Without prejudice to the generality of the foregoing, in case any tax or levy or cess, including without limitation any Value Added Tax (VAT) or Service Tax, is payable or is imposed by a Government Authority or any local authority in relation to the Group Housing Colony or the Apartment, including any vendor/supplier of utilities and maintenance services in terms of this Agreement, the same shall also be payable in full by the Allottee from the date of its applicability and the Allottee hereby agrees and undertakes to keep the Company fully harmless and indemnified in respect of any such liability at all times. 3.7 The Allottee agrees and undertakes to pay any enhancement (in any of the components forming part of DC more particularly the EDC and/or IDC), that may be notified by a Government Authority in such ratio and proportion that the Apartment Area of the Apartment bears to the total Apartment Area of all the apartments in the Group Housing Colony and if such charges are increased (including with retrospective effect, if any) after the Conveyance Deed has been executed, then such increased charges shall be treated as unpaid portion of the DC and shall also be payable by the Allottee and the Company shall have first charge/lien on the Apartment for recovery of all such charges. The Allottee also agrees that in case of any decrease (including with retrospective effect, if any) in any of the components forming part of DC, more particularly the rate of EDC and/or IDC, that may be notified by a Government Authority, the same shall be adjusted in such proportion that the Apartment Area of the For SAAN PROCON PVT. LTD. Page 16 ALLOTTEE(S)

17 Apartment bears to the total Apartment Area of all the apartments in the Group Housing Colony and shall be adjusted from the next installment due from the Allottee following intimation of such decrease by the Company. The Total Consideration may vary due to any change in the Apartment Area of the Apartment as per the terms of this Agreement, change in rates of any of the components forming part of DC, increase on account of any additional fire safety measures undertaken or as may be further required for the Tower/Group Housing Colony and other increases in cost/charges provided for in this Agreement or as may otherwise at any time become necessary, which shall be intimated to the Allottee by the Company/Maintenance Agency and which the Allottee hereby agrees to pay upon such intimation or demand by the Company/ Maintenance Agency without protest or demur. 3.8 The Allottee agrees and understands that the Total Consideration is inclusive of cost of providing electric wiring and switches in each apartment but does not include the cost of electric fittings, fixtures, geysers, electricity and water meters etc. which shall be installed at the Allottee's own cost. Charges for water and electricity connection and supply/usage shall also be payable over and above the Total Consideration. The Allottee agrees and understands that if the Company or the Maintenance Agency applies for and thereafter receives permission to receive and distribute bulk supply of electrical energy/ water in the Project, then the Allottee undertakes to pay on demand to the Company proportionate share as determined by the Company of all deposits and charges paid/ payable by the Company or the Maintenance Agency to such body/ commission/ regulatory/ licensing authority constituted by the Government of Haryana, failing which the same shall be treated as unpaid sale price of the said Apartment. The Company shall have a first charge/lien on the Apartment for recovery of such dues and the Allottee agrees and undertakes to keep the Company fully harmless and indemnified in respect of any such liability at all times. Proportionate share of cost incurred by the Company for creating infrastructure for bulk supply shall also be payable by the Allottee on demand. Further, in case of bulk supply of electrical energy/ water, the Allottee agrees to abide by all the conditions of sanctioning of bulk supply including but not limited to waiver of the Allottee's rights to apply for individual/direct electrical/water supply connection directly from any authority/body responsible for supply of the same. 3.9 The Allottee understands and agrees that although the Total Consideration for the Apartment is calculated on the basis of the Apartment Area of the Apartment, what the Allottee will receive pursuant to this Agreement is the physical area within the walls of the Apartment. The Allottee understands that Apartment Area is tentative and subject to change till completion of construction. It is only upon receipt of Occupation Certificate that it shall be finally calculated and intimated to the Allottee and the Total Consideration as shall be applicable on such final Apartment Area shall be payable by the Allottee. The Allottee understands and agrees that although the Common Areas and Facilities have also been included in the computation of the Apartment Area of the Apartment, such inclusion does not confer any exclusive title or interest in any of the Common Areas and Facilities to the Allottee, who otherwise shall have the right to use such Common Areas and Facilities without creating nuisance, obstruction or disturbance to other residents and subject to observance and compliance of the obligations under this Agreement and as may be stipulated in the Maintenance Agreement to be executed by the Allottee. For SAAN PROCON PVT. LTD. Page 17 ALLOTTEE(S)

18 3.10 The Applicant(s) agrees that in case the Company has to put in abeyance/abandon the Project or is unable to deliver the Apartment (a) due to any legislation, order, rule or regulation made or issued by the Government or any other authority; (b) if any competent authority refuses, delays, withholds or otherwise denies necessary approvals for the Project or any part thereof for any reason whatsoever; (c) if any matter relating to the Project becomes the subject matter of any suit/writ or any other legal proceedings before any competent Court; (d) due to Force Majeure conditions or (e) any other circumstance beyond the control of the Company, then the Company may cancel the allotment of the Apartment and refund the amounts received from the Applicant(s) without interest or compensation The Allottee further agrees that the Apartment Area of the Apartment and the Common Areas and Facilities provided in the Group Housing Colony may be subject to change till construction of the Group Housing Colony is completed and the Occupation Certificate is issued by the competent authorities. Hence, the Total Consideration payable for the Apartment may be recalculated and re-confirmed by the Company based upon the revised Apartment Area of the Apartment upon such change. Any increase/decrease in the Total Consideration shall be duly intimated to the Allottee and shall be payable or refundable, as the case may be, without applying any interest on the amount of such increase/decrease and at the original BSP. If there is any increase in the Apartment Area of the allotted Apartment, the Allottee agrees and undertakes to pay for the commensurate increase in the Total Consideration, immediately upon demand by the Company and if there is any reduction in the Apartment Area of the Apartment, then the refundable amount due as per the original BSP to the Allottee shall be adjusted by the Company from the next installment payable by the Allottee. 4. APARTMENT AREA, COMMON AREAS AND FACILITIES 4.1 The Allottee confirms having understood and agreed to the description and definition of the Apartment Area and confirms unqualified agreement to the same and agrees not to raise any dispute or to make any claim at any time in this regard. 4.2 It is further clarified to and agreed by the Allottee that the Company has calculated the Total Consideration payable for the Apartment on the basis of the Apartment Area of the allotted Apartment. The Allottee shall have the right to use the Common Areas and Facilities as per the terms and conditions given herein. (i) (ii) The Allottee shall have an undivided proportionate share in and the non-exclusive right to peacefully use the Common Areas and Facilities in accordance with the terms and conditions of this Agreement and shall use them harmoniously with other allottees/occupants, maintenance staff, visitors and the like without causing any inconvenience, obstruction or hindrance to anyone. Use of the Common Areas and Facilities shall be subject to timely payment of maintenance charges and the Allottee agrees that in the event of any negligence or failure to pay maintenance charges on or before due date, the right to use such Common Areas and Facilities may be restricted without notice. For SAAN PROCON PVT. LTD. Page 18 ALLOTTEE(S)

19 (iii) (iv) (v) In addition to the above, though not forming a part of computation of the Apartment Area of the Apartment, the Allottee shall have the ownership of the undivided proportionate share in the land underneath the Group Housing Colony subject to the rights of the Company to undertake further development of the Land as may be permissible. The Common Areas and Facilities and the undivided right, title and interest of the Allottee in the Common Areas and Facilities shall be fixed, limited and defined by what is specified by the Company in its Declaration to be filed under the Haryana Apartment Ownership Act, 1983 and shall be conclusive and binding upon the Allottee and the Allottee agrees and confirms to the same. The Allottee shall avail the right to use the Common Areas and Facilities peacefully and without creating nuisance, obstruction or disturbance in and around the Group Housing Colony. 4.3 The management and maintenance of the Common Areas and Facilities shall remain with the Company/Confirming Party until such time they are either transferred to the RWA of the Group Housing Colony in accordance with the Apartment Act or otherwise dealt with by the Company in accordance with applicable Law. The Allottee agrees and understands that except as is expressly provided herein, there shall be no title or interest in respect of any open space, car parking spaces provided in the Group Housing Colony, any commercial areas, club/recreational facility, community sites, and the like and all such areas shall remain the property of the Company/Confirming Party which shall be free to deal with them. The Allottee further understands and agrees that there could be a variance in the value of shops/commercial areas, club/recreational facility and community sites vis-à-vis the Apartment and also interse between apartments of the Group Housing Colony and the Company may, at its discretion, determine the relative value of the various apartments, shops/commercial areas, club/recreational facilities and community sites for calculating their proportionate share in the Common Areas and Facilities for purpose of the Declaration to be filed by the Company under the Apartment Act. 5. CAR PARKING SPACES 5.1 The Allottee agrees and confirms that the Company shall, upon payment of the charges as determined by the Company, provide car parking space(s) within the Group Housing Colony for the exclusive use of the Allottee and for the purpose of parking cars meant for private use and for no other purposes. The Allottee shall have the right to exclusive use but no title or interest to such car parking space(s). The Allottee further agrees and understands that the car parking space(s) provided to the Allottee shall be understood to be attached to the Apartment and the same shall not have any separate legal entity, detached or independent of the Apartment and such car parking spaces shall not be sold, transferred or otherwise dealt with in any manner independent of the Apartment. For SAAN PROCON PVT. LTD. Page 19 ALLOTTEE(S)

20 5.2 The Allottee also understands and agrees that it is mandatory to pay the stipulated charges for the right to exclusive use of a minimum of One (1) number of covered car parking space within the Apartment. 5.3 Additional car parking spaces may be reserved for the Allottee upon written request on a first come first served basis but at the discretion of the Company, subject however to the availability of such parking spaces and, if available, subject to payment of additional charges as may be decided by the Company for the exclusive use of such additional car parking spaces. Such additional parking spaces shall also be governed by the same terms and conditions of this Agreement as are relevant to the mandatory car parking spaces and the decision of the Company to allot any additional car parking space or otherwise shall be final and binding upon the Allottee. 5.4 The Allottee agrees and understands that parking shall only be permitted in the demarcated parking spaces and the Allottee shall not use any other car parking area/other area within the Group Housing Colony that may be used/reserved for services, maintenance staff and the like for parking vehicles. In addition, the parking spaces shall not be used for any other purpose including but not limited to storage of any equipment or materials of any kind howsoever temporarily. The car parking spaces shall be appropriately ground-marked as allocated at the time of handing over of possession of the Apartment. No modification or change shall be permitted in such parking spaces and no such parking space may be cordoned-off by any means or otherwise and no temporary structure in any such parking space can be erected at any time. 5.5 Car parking spaces reserved for allottees upon payment for exclusive use do not form a part of Common Areas and Facilities for the purpose of the Declaration to be filed by the Company under the Apartment Act. 5.6 The Allottee agrees and confirms that the allocated car parking spaces, including any additional car parking spaces, shall automatically be cancelled in the event of cancellation, termination, surrender, relinquishment, resumption or re-possession of the Apartment under any provision of this Agreement or otherwise. 5.7 The Company hereby reiterates and clarifies that the Allottee shall have no right, title and interest in unreserved/unallocated car parking spaces in the Group Housing Colony and these shall remain the property of the Company which shall have the absolute right to assign its rights, titles and interests in such unreserved/unallocated parking spaces. 6. COMMUNITY CLUB AND THE CHARGES The Allottee agrees and understands that the Company, by itself or through any third party, will develop a club within the Group Housing Colony ( Club ) for use of the Allottees and other occupants of the Group Housing Colony and may transfer such Club to any third party to develop, manage, maintain and operate and on such terms and conditions as the Company may deem fit at its discretion. The Club may be developed either simultaneously with or after development of the Towers/Group Housing Colony. The Allottee s right to use such Club shall, For SAAN PROCON PVT. LTD. Page 20 ALLOTTEE(S)