Terms & Conditions

 

  • 1.On registration and booking, sales and Construction Agreement shall be executed between the Promoter and the Owner (Applicant).

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  • 2.One agreement for sale of individual plot together with respective share of undivided right in common area and the second one for land development and construction of villas.

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  • 3.Cost of stamp paper, registration charges, legal and miscellaneous expenses in connection with the registration of land are to be born by the purchaser.

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  • 4.Sales deed for the land will be registered in favour of the purchaser in receipt of 50% of the entire payment.

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  • 5.On completion of the construction and position promoter shall arrange and handed over the building in favour of the owner at the cost of the latter which shall be subject to the owner paying all the outstanding dues to the promoter.

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  • 6.The measurements/ specifications given in the Brochure shall be subject to variations of minor nature, if such changes are warranted due to statutory or commercial requirements which shall not to be objected to by the applicant.

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  • 7.Residential / Commercial Apartment buildings are constructed by the promoters and handed over to the Owners on fulfilling the agreement obligations by the parties concerned. The maintenance responsibility of the Building shall rest with Society / Association of the Owners which shall be formed in conformity with the Kerala Apartment Ownership Act1983.

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  • 8.Besides, the payment of the construction cost in the manner incorporated in relevant schedule in the agreement, the Owner has to bear the following expenditure.

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    • a).Electrical / Water connection deposits / charges, expenses towards electrical transformer, generator power cabling, KSEB deposit against energy meter installation and any other statutory fees.
    • b).The work Contract Tax related to the construction as per the prevailing rules.
    • c).The contribution to the Kerala State Construction Workers welfare fund as per the prevailing rules.
    • d).Service Tax as per the prevailing rules.
    • e).Building Tax, Corporation Tax, any other taxes/ levies existing or likely to be paid on account of the construction of the villa allotted.

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  • 9.This is a time bond project, once booked and confirmed Owner is not normally expected to cancel. In the event of cancellation, the amounts advanced by him shall be refunded without any interest; but only after re-allotment of the villa / Plot and subject to the deduction of expenses and damages.