Application for allotment
of apartments should be made on the prescribed application
form duly signed by the applicant along with the Earnest
Money. The Company has the right to accept or reject any
application without assigning any reason thereto.
On acceptance of an application, the Company will issue
an allotment letter to the applicant on the receipt of
which the applicant/allottee shall start making payment
as per the Schedule of payment in this Brochure.
Payments of earnest money,
installments, car park price, additional works and other
charges shall be made by Bank Draft or Pay Order against
which respective receipts will be issued, Bangladeshi
residing abroad may remit payments in foreigh exchange
by TT or DD.
Payments of installments
and all other charges are to be made on due dates. To
ensure timely completion of construction.
In case of delay in payments
beyond the due date, the alottee is liable to pay a delay
charge of 3% per 30 days. If the payment is delayed beyond
60 days, the Company shall have the right to cancel the
allotment to the Allottee.
If any client wants to cancel
the allotted flat for the sake of his own interest, in
that case the company will refund the amount to the client
after selling that particular flat. The amount is payable
after deduction Tk. 1,00,000/- (One Lac) and amount will
be paid as per receiving the payment from the new client.
If any client wants to transfer/change
his allotted flat with another flat in the same project,
in that case he should apply to Managing Director with
application fee Tk. 25,000/- (Twenty five thousands).
The management also reserves the right to accept or reject
Utitity charges are not
included with the flat value. These payments will be made
by the Company directly to the authorities concerned,
on the allottee's account. The allottee will pay the amount.
Limited changes in the specifications,
design and/ or layout of the apartment and other facilities
may be made by the Company larger overall interest or
due to unavoidable reasons.
The possession of each apartment
shall be handed over to the allottee / purchaser on completion
of apartment and after full payment of installment, other
charges / dues. Until and unless the dues are not cleared,
possession of the apartment will be hold by the company.
After registration, the
flat owner, in respective of the floor becomes the proportionate
owner of the land on which the building is to be constructed.
The allottee will pay stamp duties, registration fees,
value added tax, documentation charges and other miscellaneous
taxes and expenses to be incurred in connection with the
Deed of Conveyance (Sales Deed). Only the actual sums
shall be charged.
If the purchaser want to
avail loan from any financial institution the Company
will do all that is possible to help secure the loan.
However, the final decision regarding the grant of loan
rests with the financial institution and with the compliance
of their requirements. All the necessary papers for grant
of the loan must be signed by the purchaser and he / she
must attend the Registration office for the registration
of mortgage deed. In respective of the loan being sanctioned
or not, the client will be liable to pay as per schedule
After taking over of apartment
or the project, the allottee's must consult the Company
prior to undertaking any structural or layout changes
within the apartment complex. Failure to do so will be
at the sole risk or the allottee.
The flat Building no-1 will
be handed over to the allottee on December 2005 with the
provision of 3 months grace period. On the other hand,
the flat of the building no-2 will be handed over to the
allottee on May 2006 with the provision of 3 months grace
The completion period of
the construction of the project can be affected by unavoidable
circumstances beyond the control of the Company, like
force majeure, natural calamities, political disturbance,
strikes and changes in the fiscal policy to the state
etc.; In that case allottee/purchaser cannot demand any
For the management of common
facilities like the supply electricity, water and sewerage
and the maintenance of the building etc. an Owner's Association
will be formed. All allottees, after full payment of installments
and dues must become members of this Association for the
common interest. Each allottee (for each allotment of
apartment) must initially deposit Tk. 20,000 (Taka Twenty
thousand) only in the Reserved Fund for the management
expenses of the complex.
In case of any additional
work, additional payment should be made by the buyer.