Nectar Commercial Estates Limited Business Terms and Conditions
The application form terms and conditions for plot booking the management Nectar commercial Estates Limited New Delhi. I hereby apply for the purchase of plot-plots on EMI full payment. I have gone through the terms and conditions for purchase of plot which are attached with his application and those acceptable to me. Form filling conditions: the applicant name, date of birth and required occupation material status, Pan card number, correspondence address, permanent address, mobile number, landline phone number, residence proof legal here name relations, guardians name, also advance EMI of plot-plots received with the application by cheque DD cash and lastly required witness signature of the plot holder so now read and understand conditions of Nectar commercial Estate Limited plot booking.
- The applicant should be an Indian citizen
- That the applicant shall execute the application form for the block opted by him giving complete and correct information prescribed in the form.
- The company reserves the right to reject any application without assigning any reason thereof.
- The applicant shall be required to make the payment with regard to his opted plot-plots strictly within the time and terms of the agreement.
- All payments are strictly required to be deposited with the registered office-head office associate offices of the company after getting proper receipt. The company shall not be liable consider any payment if the same is not made through a valid receipt. It is preferred that the payment should be made by way of demand draft-crossed cheques. All payment exceeding Rs. 20,000/- shall be accepted by way of crossed cheques-demand draft only.
- The duplicate receipt allotment letter shall be issued on receipt of Rs.100/- as per the charges fixed by the company from time to time only on making written request assigning reason for the request for the issuance of duplicate receipt the company reserves the right to decline the request for duplicate receipt allotment letter.
- The allotter, Transferee has satisfied himself-herself about the right, interest and title of the company in the land on which the said plot-plots are proposed to be developed and has understood all limitations and obligations in respect thereof. The allotted transferees agree that there will not be any further investigation or objections by him-her in this respect.
- The allotter has have applied for allotment of a residential other category plot-plots in the project and with full knowledge of all the laws notification and rules applicable to this area in general and this project in particular, which have been explained by the company and understood by him her.
- The tentative layout plans have been seen by the allotter and on the basis of that he agrees that the company may affect such variations-alternations-modifications etc. therein as deems fit or appropriate and as may be done by the sanctioning authority and the allotter hereby gives his-her consent to such variation-additions-alternations-deletions-modifications etc. in future if any.
- That the symbolic possession of plot-plots shall be given to allotter at the time of issuance of allotment letter. However the actual-physical possession the demarcation will be given on the development of project. It can be taken anytime from the company at the cost of the allotter a transferee.
- That the allottee Transferee are free to sell transfer the above said plot-plots to any third party. However if the title deed has not been entered on the name of allottee by the company, in that case the transfer-sale can only be done with the permission of company. After the issue of title deed on the name of allottee on his duly authorized person Transfer the transfer-sale can be executed directly by the allottee transferee without informing the company.
- That the administrative cost related to third party transfer as fixed as per policy shall be Borne by the allottee or Transferee at the time of transfer. No cost shall be payable after execution of title deed on the name of allottee or Transferee. However the first title deed in favour of allottee (s) or his duly authorized person shall we entered by company without any cost.
- The allottee-Transferee shall pay additional i.e. other than the basic selling price, to the company that charges for the installation of sewerage and drainage system, firefighting equipment, water connections and other such public utilities services or amenities, if any provided by the company in addition to basic necessities.
- The allottee-Transferee shall pay for water and electricity charges for construction of the house, plans of which will be got approved by allowed from the competent authorities at his-her-their cost.
- The Allottee-Transferee(s) upon development of the said township agree to enter into a maintenance agreement with any association body of plot society. Plots owners or any other nominee agencies association or other body here in after referred to as the maintenance agency as may be appointed nominated by the company from time to time for the maintenance and upkeep of the said plot-plots and common areas and the allottee-transferee undertakes to pay the maintenance charged raised by the maintenance agencies from the date of physical possessions, irrespective whether the allottee-transferee is using the plots or not. In order to secure due performance of the allottee-transferee in payment promptly of the maintenance and other charges by their maintenance agency, he allottee-transferee(s) agrees to deposit, as per the schedule of payment and to always keep deposited with the company or the maintenance agencies or nominated by the company, an interest free maintenance security (IFMS) on such rates as may be decided by the company or its nominated agency in its sole discretions. In case of failure of the allottee-transferee to pay the maintenance bill, other charges on or before the due dates, the allottee-tramsferee in addition to permitted to company maintenance agency to deny him/her the maintenance services, also authorized the company to adjust the amount of the security deposited against such defaults. This agreement shell continues till the township is handed over the municipal authorized or the association of the allottee-occupants. Further the allottee-transferee agrees to lay the maintenance charges equivalent to two years maintenance charges in advance to the company or its nominated agencies.
Further, the company its nominated agencies reserves the right to increase maintenance charge security form timer to time. In keeping with the increase in the Cost of maintenance services and the allottee-transferee agrees to pay such increases within 15 days of demand by the company its nominated agencies for maintenance.
- The allottee transferee undertake to abide by lass, rules and regulations as may be made applicable to the said plot-plots either by the company or any other government authority and further undertakes to carry out the construction in the plots as per the approved zoning plans sanctioned by the competent authorities, which has been examined by the allottee.
- The allottee transferee shall use the plot-plots for the purposes or which the allotment has been made.
- The allottee transferee shall be bound to start construction of the house with due to sanction of the competent authority with in a period of 5 years from the date of physical possession by the company failing which, he shall be livable to pay penalty or has per rules of the local authority which ever earlier.
- The allottee transferee confirm and represents that he-she has not made any payment to the company in any manner what’s so ever and that the company has not indicated-promised-represented-given any impression of any kind in an explicit or implicit manner what’s so ever, that the allottee transferee shall have any right, title or interest of any kind what’s so ever in any lands, building, common areas, facilities and amenities, recreation facilities, if any, falling outside the area of the plot save and except the use of common areas and such a common areas will be identified by the company in its sole discretion and such identification by the company in its plan or in future and the same shall be final, conclusive and binding on the applicant-allottee. The company relying on the specific undertaking of the applicant-allottee has agreed to provisionally allot the aforementioned plot-plots and this undertaking shall survive throughout the possession and occupancy of the plot by the allottee-transferee, his-her representatives, successors, administrators, executors, assigns etc.
- The allottee-transferee if resident outside India shall be solely responsible to comply with the necessary formalities, as laid down in the FEMA 1999 or other applicable loss including that of remittances of payment for acquisition of property and for submission of any documents declaration etc as may be prescribed.
- All or any disputes arising out or touching upon or in relation to the terms of this allotment later including the interpretation and validity of the terms thereof and the respective rights and obligations of the parties. Shall be settled amicably by mutual discussion failing which the same shall be settled through arbitration. The arbitration proceedings shall be governed by arbitration and conciliation act, 1996 or any statutory amendments, modification their off for the time being in force. The arbitration shall be held at an appropriate location in New Delhi by a sole arbitrator who shall be appointed by He Company and whose decision shall be binding upon the parties. The allottee-transferee here by confirms that he-she shall have no objection to this appointment even if the person so appointed, as the arbitrator, is an employee or advocate of the company or is otherwise connected to the company and the allottee-transferee confirms that notwithstanding such relationship connections the allottee-transferee shall have no doubt as to the independence or impartiality of the said arbitrator.
- The company shall have the first lien and charges on the said plot-plots in the event of the allottee parting with any interest therein for all its dues and or that many thereafter become due and payable by the allottee to the company under the allotment.
- The terms and conditions contained herein shall be binding of the occupier of the said plot-plots and default of the occupier shall be treated as that of the allottee the unless context required otherwise.
- If the balance installments are not paid in time the company reserves the right to cancel the allotment of plot-plots.
- That the company shall not be liable for any illegal acts done by the allottee transferee for above said plot-flat.
- This allotment of residential other category plot-plots shall be construed, interpreted, governed and applied in accordance with the laws, regulations, ordinances or the laws applicable in India and shall be subject to the exclusive jurisdiction of the courts at New Delhi.
- Permanents account number is mandatory.
- Investors are required to submit their photo graph, identity as well as residence proof along with this form.
- The appointment of legal heir facility is also available. The customers can appoint his-her legal heir and can also change by executing the prescribed form.
- In case of death of the plot-plots holder the total amount invested by the him shall be transferred to his legal heir appointed by him at the time of purchasing the plot.
- In case the applicant is minor the application form shall be signed by the-her natural guardian’s i.e. mother-father and in case the minor is under the guardianship of some other person a certificate regarding appointment of guardian by the competent authority shall be required.
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- After allotment of plot/plots the company shall have the right to enter in to the property allotted to the customer for the purpose of inspections demarcation and the customer shall be required to allow access to the official of the company for this purpose.
- The cost of the plot/plots includes the development charges scaping charges and other maintenance charges.
- the management of the company reserves the right to amend discontinue modify the rules and regulation from time to time without any prior notice as per requirements of loss, state centre rules, notifications and other mandatory regulations directions issues by the competent authority.
- All payments by the company to the plot/plots holder & their legal heir shall be subject to the deduction of tax if any.
- Escalation charges will be applicable as per market price rise.
- The plot/plots holder is required to notify the change of their address to the company by written request.
- The allotment of the plot/plots to the customer shall be at the sole discretion of the company on receipt of full and final payment of the plot and the company reserve the right to allot lot number to the plot holder in a particular block subject to the availability.
- All disputes arising regarding interpretation, implementation or subject to the jurisdiction of New Delhi.
- Though the management of the company has taken the reasonable care, precaution and necessary step to mitigate the impact of risk to its customer by appointing experienced staff equipped with latest technology band technical support. Yet the business of development, maintenance, sale and purchase of the land plot is subject to various risks, hazards and contingencies like act of god, act of state, circumstances beyond control of the management of the company, unforeseen situation, disputes and legal constraints. In the event of occurrence of such like contingencies if the management of the company is not in a position to arrange sell transfer the plot/plots in the name of the customer the right of the customer shall be limited to the extent of refund of the minimum realizable value of the lot/plots opted by him as decided by the arbitrator, appointed by the company.
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