|Developer||Nakshi Homes Ltd.|
|Location||50 New Elephant Road Dhaka-1205|
|Land area||05 ktha|
|Car Parking||Available ( As per Rec.)|
|Building height||1 Basement|
|Start from work||01.01.16|
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Allotment of Apartment: Interested buyers must submit an application for allotment in the prescribed Application Form along with all true information and DOWN PAYMENT (Minimum 10% of the agreed price). The allotment will be made on ‘first paid, first served’ basis. The Company has the right to accept or reject any application without assigning any reason whatsoever. The allotment will be given in Company Letterhead while the formal deed of agreement will be signed after collecting at least 30% of total payment from the buyer.
Schedule of Payment: The buyers must strictly adhere to the mutually agreed SCHEDULE OF PAYMENT of installments to ensure timely completion of construction. Any delay in payment up to 4 (four) weeks will make the buyer liable to pay a delay fee of 5% per month on the amount of payment delayed, effective from the scheduled date. If the payment is delayed beyond 8 (eight) weeks, then the company shall have the right to cancel the allotment with 1(one) week’s written notice. In the event of such cancellation, the amount already paid by the buyer will be refunded after resale of the same apartment and collection of the refundable amount from the next allottee. In that case 10% of the total amount paid to the developer by the purchaser will be deducted as service charge and refundment if any will be made after resale of the said unit.
Payment: All payment should be made payable to NAKSHI HOMES LTD. by bank draft or Pay order, for which, receipts will be issued.
Construction: The responsibility of construction of the apartment and common premises according to the finishing specifications mentioned in this brochure rests with the Developer. No worker appointed by buyer can work inside the apartment or site premises unless and until the possession has been taken over by the buyer by clearing all dues and procedures.
Handing over possession: The possession of each apartment shall be duly handed over to the buyer on completion and on full payment of installments and all other charges and dues. Till then, possession will rest with the Company.
Company’s Right: a) The Company reserves the right to accept or reject any application for allotment. b) The Company reserves the right to modify the standard specifications and features due to non availability, shortage of supply, hike of market price, architectural consultant’s suggestion or overall standardization/ benefit of the project. c) The Company reserves the right to revise the apartment price in light of the contemporary Market standard in unanticipated cases of exorbitant price escalation of building materials, massive economic deflation, or such substantial changes in financial scenario.
Costs for service Connection: Connection fees, security deposits and other incidental charges and costs relating to Gas, Power Connections, Water & Sewerage are not included in the price of the apartment. The buyer shall make the payment directly to the authorities concerned. Should the company incur any expenditure on these account, the buyer shall be liable to reimburse the proportionate share of that amount to the company.
Transfer Cost, Govt. Taxes and incidental Expenses: The buyer shall bear all costs relating to VAT on land and apartment, transfer and registration of apartment including all other incidental expenses. Until full payment of all installments, the buyer shall not have the right to transfer the allotment to a third party. Moreover, a transfer fee of Tk. 100 per sft. is payable to the developer for transfer of allotment to a third party at any point before registration of the apartment.
Completion time: Thirty six (36) months from the date of starting construction. A grace period of 6 months will also be added to this period in case of unforeseen delays in one or more phases of construction. No time delayed for personal/additional interior finishing works of the apartment or by government agencies’ negligence/bureaucratic process etc., which is beyond the control of developer will be counted towards this time.
Force Majeure: The completion period of the construction of the project can be affected by unavoidable circumstances which are beyond the control of the company like force majeure, natural calamities, political disturbances, strike and changes in the fiscal policy of the state, unavailability of approval or supplies from Government owned agencies etc.
Owners’ Association: The buyer must undertake to become a member of the Owners’ Association that will be formed by the buyers of the flats for maintenance, welfare and management of Apartment Building. Each buyer shall deposit Tk. 25,000.00 towards the reserve fund of the society before taking possessions of the apartment.
Refund: For any reason that beyond the control of the company including acts of God or economic depression, the company may abandon the project and terminate the contract without any right of compensation by the allottee. In such an event, the company shall be bound to refund the buyer all monies that have been paid earlier without any interest or compensation.
Others: Details of the above Terms and Conditions along with other important clauses will be mentioned in the purchase contract, which both the Developer and Buyer must abide by