Terms, Refund and Cancellation Policy

  1. The applicant(s) / intending purchaser has applied for allotment of a flat/unit in the Housing Project consisting of several multi-storied buildings built in blocks within the Housing Complex with full knowledge of all laws and regulation applicable to the area where the proposed Housing Complex is and the same has been explained in details by the developer’s representative & fully understood by the applicant(s).
  2. The booking shall be confirmed subject to execution of Sale Agreement in standard format set forth by the Developer.
  3. The Applicant(s) has/have inspected & is completely satisfied with the location of the site, tentative drawings & design for the said complex, its tentative building plan, the competency and eligibility of the Land Owner & / or the Developer, all limitations and obligations of the company in respect thereof & accordingly no further investigations / objections shall be raised by the applicant(s) in this respect at any time in future.
  4. The Developer has already obtained land for the Housing Project and is under the process of purchasing / accruing further lands within and adjacent / vicinity of the proposed site for the Housing Project. The said Housing Project shall be constructed phase wise on the land obtained and available for construction.
  5. The Developer shall be at the liberty to change and alter the layout, position, size, location of the specified amenities and the Purchaser shall not raise any objection in any form or manner.
  6. In event of the Developer acquires / purchases any adjacent land and undertakes to construct additional blocks no objection shall be raised by the applicant(s) for such construction.
  7. In case the Developer decides to construct additional floors / flats / shops and / or additional blocks, the applicant(s) / Allotee / Purchaser shall not raise any  objection in any form or manner for such construction or modification.
  8. The Basic Sale Price (B.S.P.) shall mean the consideration sum to be paid by the Purchaser / Allotee for the designated Flat / Unit. The Basic Sale Price (B.S.P.) shall be calculated @ Rs. _____________ per sq. ft. x the Area of the designated Flat / Unit. The Area of Flat / Unit shall mean & include covered areas & common covered areas for the said Flat / Unit. The Basic Sale Price (B.S.P.) shall remain fixed subject to final measurement of the designated Flat / Unit Area at the time of Possession. If there is any increment or decrement in the area of the designated Flat / Unit, the Basic Sale Price (B.S.P.) shall accordingly be increased or decreased as the case maybe. However the applicant(s) shall be informed of such changes if any, as & when required.
  9. During the course of construction, it may become necessary to modify / alter the drawings / designs / site plan / specifications etc. which may result in increase or decrease of the Covered Area, Layout, Design etc. and the Applicant(s) shall not raise any objection for such alternations / modification / changes, and accept the the same.
  10. If due to any forthcoming Government Legislation, Ordinances, Acts or Orders and other unavoidable circumstances, the Consideration sum of the Designated Unit is required to be re-calculated on the Carpet Area of the Designated Flat / Unit; the Basic Sale Price (B.S.P.) agreed herein upon shall remain fixed, but the rate / price for the carpet area shall be proportionately increased keeping the Basic Sale Price (B.S.P.) intact. Thereafter all calculations shall be made on Carpet Area & the rate / price applicable thereon.
  11. The Applicant(s) has fully understood the Basic Sale Price (B.S.P.) and that it does not include Parking, Administration Charges, Interest Free Maintenance, Security, Registration, Amenities Charges, Stamp Duty, Registration Fee, Advocate’s Fee for flat registration & Legal Documentation, Electrical Charges, Applicable Taxes and levies, administrative charges and any other incidental expenses are to be paid as & when demanded in addition to the Basic Sale Price (B.S.P).
  12. In case of Applicant(s) being a NRI / PIO, his / her / their application(s) should be made in conformity with the rules & regulations governing the purchase of  immovable property by such person  and it shall be responsibility of the applicant/ proposed purchaser to ascertain and fulfill all regulatory, statutory and all procedural requirements including those governing foreign exchange transactions.
  13. Payment shall become due on / or initiation / completion of the stage of construction as and when demanded by the Developer. Decision of the Developer shall be conclusive, final and binding.
  14. The said period for completion maybe extended for reasons beyond the control and capacity of the Developer e.g. statutory provisions or Government rules, embargoes, protocols, procedures, ordinances, legislations, notifications or orders by the Government or Local Authorities, BL & LRO.
  15. Applicant has discussed the queries and other aspect of the project with the relationship executive/associate and found the same as conclusive and satisfactory.
  16. The Applicant(s) shall be liable to pay Goods and Service Tax (GST) and at such rates as proposed by the Government and other subsequent tax related amendments, time to time.
  17. The Applicant(s) shall liable to pay Registration Charges, Stamp Duty and other incidental charges and expenses as and when demanded by the Developer in order to enable it to convey the said apartment in favour of the Applicant(s).
  18. In  the event of cancellation or withdrawal of application(s) by the Purchaser(s) / Allotee(s) then he / she / it / they shall be  liable to  pay to the Developer @ 4% of the Total Sale Value (which shall mean and include of the Basic Sale Price (B.S.P.) for the Flat / Unit, amenities charges, other charges & parking applied for if any) from the amount in actuals paid to the Developer till date.
  19. In case, if the Applicant(s) fails / neglects or delay to execute the Agreement for Sale and Construction Agreement within the prescribed period herein and if any such delay / default in payment continues for a period in excess of  3 months, then the Developer shall at its option be entitled to cancel the booking / agreement and shall be entitled to deduct 4 % of the Total Sale Value (which shall mean and include of the Basic Sale Price (B.S.P.) for the Flat / Unit, amenities charges, other charges & parking applied for if any) along with amount paid in actuals by the Purchaser; till then;  towards all taxes and charges, levies, imposition, along  the interest for the delayed period in making the payment, being  calculated @ 18% per annum compounded monthly on the amount due and recover the same from the amount already paid to the Developer. The Developer shall deduct the same from the amount refundable to the Allotee / Purchaser before refunding the same. In such an event, the Developer shall be entitled to re-allot and re-sell the apartment / unit and the undivided share in land to any other person and on such terms and conditions as the Developer deems fit and repay the balance amount, if any, within 12 weeks from the date of resale.
  20. In the event of cancellation or withdrawal of Allotment by the Developer due to its inability, the Developer will be liable to pay @ 2% (SI) on the total amount received till date.
  21. In case of Cancellation, all taxes paid by the Purchaser to the Developer are non-refundable.
  22. If any issued cheque of the Allottee / Purchaser is  dishonored  due to insufficient fund or  any of the given reason by the Bank   and on or after being  informed by the Developer about the same, the Allottee /Purchaser fails  to pay  the said  amount  through DD /NEFT / RTGS  or  any other approved mode of payment, the Developer shall have  sole discretion to  cancel the  booking  / agreement, as the case may be. The Developer shall charge penalty for cancellation as set out in Paragraph No. 18.
  23. The Developer shall have the absolute power to cancel any booking / Agreement under any circumstances for any reason as deemed fit and proper, with a notice of 15 days save & except as set out in Paragraph No. 20.
  24. Locking period shall be for 12 month from date of execution of Sale Agreement. However on or after expiry of  the 12 months the Allotte / Purchaser under this agreement, may be allowed, at the sole discretion of the Developer, to nominate his / her/ its/ theirs nominee. Approximate charges for such transfer would be Rs. 100 per sq. feet plus applicable Goods and Service Taxes (if any) and other taxes as may be imposed in future.
  25. For any change in the Agreement for Sale after its execution of will attract service charge of Rs. 5000/- (Rs. Five thousand only) and same to be paid by the by purchaser. However any proposed change in the Agreement shall be subjected to the sole discretion of the Developer.
  26. Usashi Realstates Pvt. Ltd. will not entertain any request for modification in the internal layouts of the apartments and external facades of the towers.
  27. The intending Purchaser(s) shall get his / her / its / their complete address and contact details registered with the Developer at the time of booking and it shall be his / her / its / their responsibility to inform the Developer by registered A/D letter about all subsequent changes, if any, and to have it received by the Developer and failing of which the intending purchasers shall be responsible along with its consequences for any due payment sent to the last registered address.
  28. The purchaser as per WBSEDCL or other power distribution company, as applicable, rules and regulations shall arrange electrical service connection and installation of individual meter.
  29. The Applicant(s) / Allotee shall, if so required, execute necessary documents before possession of flat for the formation of the Apartment Owner’s Association.
  30. In the event of delay in completion, or in the delivery for possession of the said unit, by reason of non-availability of labour, steel, cement, water etc. or by reason of war, civil commotion etc. or due to any act of God, force majeure and  due to any impositions, protocol, embargo arising from any Govt. Ordinances, Legislation or Notification or Order, decision by the Govt. or Local Authority etc. the Developer shall not be held responsible for such delay in any form or manner and the time limit for completion and possession  shall be accordingly enhanced.
  31. The Agreement for sale shall be executed only after the payment of 25% of the total sale value which shall mean and include of the Basic Sale Price (B.S.P) for the Flat/Unit, Amenities charges , Other charges and Parking applied for if any. All Copies related to the housing project shall be handed over to the purchaser upon realization of next payment as per the payment schedule after the execution of the sale agreement.
  32. The common covered area for all designated Flats / Units shall mean and include passage and pathways meant for ingress and egress to the tower where the designated Flat / Unit is located / situated together with lobby, stair lobby, lift area, meter room, stair head room / mumpty room, lift cover at the roof, overhead tank etc.
  33. Every Flat / Unit owner shall become a member of the Apartment Ownership Association to be formed In terms of West Bengal Ownership Apartment Act and Rules and all Flat / Unit owners shall be bound by the Rules & Regulations, By – Laws framed by such Association / Society including payment of monthly free / charges etc. as decided by the society / association which will maintain / administer the common areas and facilities in the complex.
  34. The Applicant(s) shall execute a memorandum evidencing the taking of Possessing of the Flat, No Claim Certificate and Declaration at the time of handing over the flats as per the Performa to be supplied by the Developer.
  35. The construction specifications as given in the brochure relating to the project are indicative only and are liable to be changed / amended by the Developer from time to time.
  36. The applicant(s) is fully aware and conversant of the rights & interest of the Developer in the project and the land intended for the proposed housing project  along with its limitations and obligations.
  37. Any type of dispute among the parties herein shall be resolved as per the Law of Arbitration which maybe in force and applicable and such arbitration proceedings shall be held at Kolkata, West Bengal and award thereof shall be binding on both the parties.
  38. As  present it’ s contemplated  to have several towers, and construction will be carried out in phases and as soon as any block is completed,  possession of flats thereof might be handed over to the Intending Allottee(s) as per decision  of  the Developer. The Intending Allottee(s) shall not raise any objections on account of the pending completion of the common facilities like roads, street lighting, club house etc. Since all the common facilities and service will be developed  gradually considering the totality of the project and all other factors thereof, the Intending Allottee(s) realizing and understanding all these is booking the flat, hence no grievance or objection what so ever shall be raised by the Intending Allottee(s) on account of all these any time in future.

I / We, the undersigned applicant(s) (Sole/First and Co/Second Applicant) have fully read & understood the above Terms & Conditions & agree to abide by the same. I/We understood that the Terms & Condition given above are indicative with a view to acquaint me/ us with the Terms & Conditions comprehensively set out in the agreement for Sale which shall supersede the Terms & Conditions set out in this Application or any other communication.

Created by Cloudotron