| |
|
|
Booking /Reservation:
Application for booking or reservation of residential
plot/s to be made on prescribed from duly signed by the
applicant or applicant’s representative with booking
money of Tk. 30000/=. Royal homes ltd. shall have the
right to accept or reject any application without
assigning any reason thereto. |
|
Allotment:
Upon receipt of application with down payment, Royal
homes ltd. shall issue a Primary Allotment Letter and
Payment Schedule for the balance amount in
consultation with the applicant. Allotment is made
generally on ‘First come, first serve’ basis according
to choice of the applicant and availability of the
plot/s. preference, however, may be given to buyers
paying the full amount upon allotment. The buyer shall
be required to execute an agreement with Royal Homes
Ltd. before obtaining the allotment.
|
|
Allotment Transfer:
Until full payment is made and possession obtained,
the buyer shall not transfer and/or sell the allotted
plot/s to a third party.If the applicant decides to Transfer the allotment to
a third party, the allottee shall pay 1% of the Total
Value of plot in favour of Royal Homes Ltd.
|
|
Mode of
Payment:
All
kinds of payments like Booking Money, Installments and
other charges shall be made by Cash/Crossed Cheque/Bank
Draft or Pay Order or TT to Royal Homes Ltd. for which
money receipts will be issued by the Company. |
|
Schedule of Payment:
The
buyer must strictly adhere to the dates of payment
schedule to ensure timely completion of the project
development work. Delay in payments in case conceives
3 months beyond the due date will make the allottee
liable to pay penalty/late fee at rate of 5% per month
on the amount of payment delayed.
|
|
Cancellation of Allotment:
In case of surrender/cancellation of the allotment by the buyer or non-payment of installment
beyond six months, Royal Homes Ltd. shall have the right to cancel the allotment. In such event, the amount paid to Company
shall be refunded after 90 days by 3 installments, upon deduction of 10% of the total payment made by the buyer as cancellation
charge, 10% of the payment received as service charge and gift value will deduct if any customer cancel the plot before 36th
installment.10% cancellation charge, 05% service charge and gift value will deduct if any customer cancel the plot after
36th installment. No charge is applicable if the Allottee agrees to get refund the deposited amount after a period
of 2 years with effect from the date of cancellation.
|
|
Documentation Charges and Government Charges:
Connection fees, security deposits and incidental
expenses/charges relating to gas, water, sewerage and
power connections are not included in the price of the
plot/s. Royal Homes Ltd. shall make these payments
directly to the concerned authorities and the buyers
shall pay the amount on actual basis to Royal Homes
Ltd. upon demand.
|
|
Company’s Right:
Royal Homes Ltd. may effect changes in the layout
design and/ or layout of the project if necessity so
calls for, from technical point of view.
|
|
Completion of the project:
In
the completion period of the project is affected by
unavoidable circumstances beyond the control of Royal
Homes Ltd., like war natural calamity, political
disturbance, civil commotion, non-availability of
materials, non payment of installments on time by the
buyer and changes in the fiscal policy of the
government etc. and any other force majeure, then the
buyer shall not be entitled to claim any kind of
compensation from Royal Homes Ltd. Royal Homes Ltd.
shall not be responsible for delay or non-availability
of any utility supply like electricity, gas, water
etc.
|
|
Refund:
For
reasons beyond the control of Royal Homes Ltd. as
mentioned in above Clauses, if Royal Homes Ltd. is
compelled to abandon the project, all payments shall
be refunded to the buyer upon mutual discussion and
consent between both the parties. In such situations
the buyer will not be entitled to claim any kind of
compensation or interest on the money paid.
|
|
Hand
Over:
The
possession of plot/s shall be handed over to the buyer
on completion of project development work and on full
payment of plot/s and other related charges. Handover
of the possession of the plot/s shall neither be made
before receipt of full payment nor before the
completion of project development work.
|
|
Documentation VAT and other Charges:
The allottee(s) will pay stamp duties, VAT,
registration fee, gain tax, share transfer fee,
documentation charges and other miscellaneous expenses
likely to be incurred in connection with the deed of
agreement, allotment, registration and transfer etc.
only the actual amount shall be charged.
|