Verdant Woods - Application for allotment
TERMS AND CONDITIONS
- VERDANT HOMES (P) Ltd. reserves the right to accept or reject any application. Once allotted and agreement signed, prices are firm.
- The company reserves the right to cancel the allotment without assigning any reason, if payments are delayed by the purchaser from the payment schedule. In such case, the amount paid will be returned without any interest, after re-allotment to another party.
- The basic sale price of the apartment does not include.
a. All local taxes, building tax, sales tax on works contract or VAT as applicable, service tax, construction welfare fund, provident fund contributions, or similar social security fund contributions, if any applicable or made applicable during the period of the contract or after its completion in relation to this project, other statutory payments in respect of the construction work carried out.
b. Security deposits, installation charges and incidental expenses of electric posts, lines, transformer, electric connection and water connection charges.
c. The stamp duty, registration charges, legal and other incidental expenses to be incurred in connection with the documentation, execution and registration of agreement to sell, and the sale deed.
d. Any other charges or levies as may be specifically referred to in the agreement.
- The basic sale price of the apartments will depend on the rates prevalent at the time of acceptance of the application by the builder and super built up area of the apartment.. Super built up area is defined as the built up area including balconies of the apartment plus a pro-rata share of the common areas/facilities of the building. Super built up area as determined by the builder shall be final and binding on the applicant.
- All payments shall be made by Bank Transfer/DD/Local cheque in favour of VERDANT HOMES (P) LTD. payable at Ernakulam.
For delayed payments interest will be charged at 15% per annum.
- Possession of the apartment shall be given to the customer only on settling all the dues to the company.
- a. On allotment, two agreements will be executed between the builder and the purchaser – one for sale of undivided share of the land and another for the construction of the apartment. Though separate considerations are specified in each agreement, composite value of the undivided share in land and that of the construction contract will be shown in the payment schedule. Necessary citations to this effect are given in the agreements.
b. The sale deed on divided share in the land will be registered in favour of the purchaser on receipt of the entire payments and before handing over.
- Maintenance will be carried out by the Builder till the formation of the Owner’s Association or six months after the handing over of the possession of the apartments whichever is earlier. Owner’s Association will be formed on handing over of the possession of the apartments. Membership in the above Association is compulsory, not optional. Maintenance charges are payable by the Owners on a monthly basis. Maintenance deposit/charges is collected from all the Owners by the Builder till Owner’s Association is formed and the maintenance shall be carried out till the formation of the Owner’s Association or six months after the handing over of the possession of the apartments whichever is earlier.
- All measurements and specifications given in the brochure are subject to minor variations without specific or general notices. All such variations shall be purely at the discretion of the Builder. The brochure is only for information and it does not constitute a legal offer.
- All transactions are subject to Cochin jurisdiction only.