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Terms and Conditions

 

Application for allotment of apartment is to be made in prescribed from along with required earnest/booking money. The company reserves the right to accept or reject an applicant.

The company reserves the right to make minor change/modifications of the plan and specification should these become necessary in the judgment of the company.

On acceptance of application allotment letter will be issued to the application, on receipt on which one shall start making payment as per schedule of payments. Buyers willing to make the full payment at a time shall be allowed a substantial discount. The buyer must strictly adhere to the payment schedule. Any delay in payment beyond the due date will make the buyer liable to pay delay charge @ (3%-5%) per month on default payment. If the payment is delayed beyond 90 (Ninety) days then the company shall have the right to cancel the allotment. In such an event that amount paid by the buyer will be refunded after deducting the amount of earnest/booking money.

All payment should be made either by bank draft or pay order, payable to … APARTMENT DEVELOPMENTS & HOLDINGS , APARTMENT PROPERTIES LTD.Payment will be considered as received when the sum is actually credited in the account of the company.

Actual charges for utility connection like Electricity, Gas, Water and Sewerage are not included in the price of the apartment and therefore to be borne separately by the buyer.

The buyer shall bear all cost relating to transfer and registration of the property.

Until full payments of all installments are made, possession and title of the apartment shall rest with the company and the buyer shall not have the right to transfer the allotment to the third party.

The buyer must undertake to become a member of the owners co-operative society/Association that will be formed by the buyer of the apartments for the management of common services such as lifts, Generator & Security etc. Each buyer shall deposit Tk.50,000/- for the reserve fund of the society/Association before taking possession of the apartment.

The completion period of construction of the project can be affected by unavoidable circumstances beyond the control of the company like force majeure, war, natural calamity, political disturbance, civil commotions, strikes, go slow tactics of the labor and change in the fiscal policies of the state. If for any reason beyond the control including acts of Allah or economic depression the project is abandoned, the company will refund to the buyer the ea5rnest/booking money and all installments deposited within sixty days from the date of announcement made to this effect. In this eventually, the buyer will not be entitled to any claims damage whatsoever.


 


 
       
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