Terms and Conditions to buy an Apartment

Payments of installments & all other charges are to be made on due dates. The allottee must adhere to the schedule of payment to ensure timely handing over of possession of the apartment to the allottee by the company.

Delay in payments beyond the due date will make the allottee liable to pay a delay charge of 3% per 30 days on the amount so delayed. If the payment is delayed a more than 60 days the company shall have the right to cancel the allotment. In such an event the amount paid by the allottee will be refunded after deducting the Earnest Money.

The Company & the allottee will be required to execute the agreement to safeguard the interest of the allottee as well as the Company.

The Company may seek & arrange financing facilities for allottee up to maximum 70% of the cost of apartment.

However it is the final discretion of the concerned financing institution. Utility connection fess/ charge, security deposits & other incidental expenses relation to gas, water sewerage & electric connections are not included in the price of apartment. These payments will be made by the company directly to the authorities concerned, on the allottee’s account. The allottees will be billed proportionately on actual basis.

If for some unavoidable reasons it becomes necessary to make minor changes in the specification, design and/or layout the apartment & other facilities, the company will have the right to do so.

The company may cancel allotment of non-payment for installment in disregard of reminders & after final intimation to allottee by registered post at the address given us the application form.

On completion & on full payment of installments & other charges & dues, the company will hand over the possession of the apartment to the allottee. Otherwise the possession of the apartment will remain with the company.

The allottee will pay stamp duties, VAT, any other duties/fees, documentation charges, utilities connection charge/deed commissioning charge & other miscellaneous expenses relating to RAJUK etc. likely to be incurred in connection with Deed of Agreement of flat. Only the actual amount shall be charged.

After taking over of apartment of the project, the allottee (s) must consult the company prior to undertaking any layout & structural changes of apartment complex. Failure to do so will be at the sole risk of the allottees.

The construction on the project is in progress. The schedule of implementation has been methodically prepared to ensure both high quality & smooth progress of work.

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 disturbances, strikes, changes in the fiscal policy of the state etc.

If for any reason beyond the control of the company, the implementation of the project is abandoned, the company will  refund to the allottee the earnest money & all installments deposited, within 60 (sixty) days from the announcement to the effect. In this eventuality, the allottee will not be entitled to any claim or damages whatsoever.

After registration of the flat, the allottee will form a welfare association to manage & maintain the project. For this purpose, each allottee shall have to deposit Tk. 2,00,000/- in the common service fund.

All apartments should be used for residential purpose only.

Additional/ extra works may be done on payment of actual cost plus 10% supervision charge.

After full payment, the apartment will be registered in the name of individual buyer.