APARTMENT BUYER S AGREEMENT

Transcription

1 APARTMENT BUYER S AGREEMENT

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3 APARTMENT BUYER S AGREEMENT BETWEEN DLF HOMES RAJAPURA PVT. LTD. And FIRST APPLICANT ADDRESS First Name Middle Name Last Name City State Pincode SECOND APPLICANT First Name Middle Name Last Name ADDRESS City State Pincode

4 Index 1. Important instructions to the Allottee 1 2. Instructions for execution of the Agreement 2 3. Parties 3 4. Representation Definitions Said apartment details & price payable for the Said 9-21 Apartment & details of items not included in the price 7. Payment for taxes on land, wealth-tax, cesses by the Allottee Amount paid by Allottee with Application Earnest Money Mode of Payment Compliance of Laws relating to remittances Adjustment / Appropriation of Payments Time is the Essence Construction of the Said Building / Said Apartment / Said Complex Alteration / Modification Schedule for Possession of the Said Apartment Delay due to reasons beyond the control of the Company Failure of Allottee to take Possession / Failure of the 24 Company to give possession 19. Procedure for taking Possession: Failure of Allottee to take Possession / Failure of the Company 25 to give possession 21. Delay due to reasons beyond the control of the Company: 25 Remedy to Allottee 22. Abandonment Maintenance of the Said Building / Said Complex Fixation of Maintenance Charges IBMS Payment for replacement, upgradation, additions of Lifts, DG Sets, 28 Electric Sub-stations, Pumps, Fire Fighting Equipment and other Capital Plants/Equipments 27. Right of Allottee to use common Areas and Facilities subject to 28 payment of total Maintenance Charges 28. Right to enter the Said Apartment for repairs Insurance of the Said Building 28

5 30. Use of podium, stilt and service areas Use of the Said Apartment Use of terraces General compliance with respect to the Said Apartment Compliance of Laws, Notification etc. by Allottee Alterations of unsold units Right of the Company to make additional floors / constructions in/ 30 on the Said Building/Said Complex 37. Company s right to raise finance Agreement subordinate to mortgage by the Company Company s charge on the Said Apartment Purchase not dependent on financing contingency Binding Effect Agreement not assignable Entire Agreement Right to amend Annexures Agreement Specific only to the Said Apartment/Said 33 Building/Said Complex 46. Provision of this Agreement applicable on allottees / Subsequent Allottees Waiver not a limitation to enforce Severability Captions / Headings Method of Calculation of Proportionate share wherever 34 referred to in the Agreement 51. Force Majeure Right to Join as Affected party Indemnification Brokerage Further Assurances Copies of the Agreement Place of Execution Notices Joint purchasers Right to transfer ownership Events of defaults and consequences Governing laws Dispute Resolution by Arbitration Signature and witnesses 38

6 65. Annexure : Location Plan Annexure: IA : Layout Plan Annexure II : Definition of Super Area Annexure III : Schedule of Payment Annexure IV : Part-A: List of Common Areas and Facilities for the use of Allottees with in Woodland Heights, Rajapura, Bangalore which is included in the computation of Super Area of the Said Apartment Annexure IV : Part-B: List of Common Areas and Facilities for the use of Allottees with in Woodland Heights, Rajapura, Bangalore which is included in the computation of Super Area of the Said Apartment (Plan attached to this Annexure) Annexure IV : Part-C: List of Common Areas and Facilities for the use of Allottees with in Woodland Heights, Rajapura, Bangalore which is included in the computation of Super Area of the Said Apartment (Plan attached to this Annexure) Annexure IV : Part-D: List of Common Areas and Facilities for the use of Allottees with in Woodland Heights, Rajapura, Bangalore which is included in the computation of Super Area of the Said Apartment (Parking Plan attached to this Annexure) Annexure IV : Part-E: List of List of such other lands, Areas, facilities and Amenities Annexure V : Specification Annexure VI : Numbering Plan, Apartment Plan and Parking Plan Annexure VII : Maintenance Agreement Annexure VII : Application for Supply of Electrical Energy Annexure VII : Terms & Conditions of Supply of Electrical Energy Annexure VII : Schedule of Tariff Annexure VIII : Application for becoming a Member of Association Annexure IX : Undertaking Annexure X : Computation of Escalation Charges (Illustrated by an example) 76

7 WOODLAND HEIGHTS =========================================================================== Kindly read carefully. Important instructions to the Allottee. The Allottee(hereinafter defined) states and confirms that the Allottee has obtained requisite information from the Company and the Allottee is aware of the availability of the Agreement (hereinafter defined) on the Website and at the Company s office at DLF Project, Akshaya Nagar, Begur, Bangalore Urban The Allottee confirms that the Allottee has read and perused the Agreement, containing the detailed terms and conditions and confirms to have fully understood the terms and conditions of the Agreement (including the Company s limitations) and the Allottee is agreeable to perform his/her obligations as per the conditions stipulated in the Agreement. Thereafter the Allottee has applied for allotment of apartment in the Said Building/Said Complex (hereinafter defined) and has requested the Company to allot an apartment. The Allottee agrees and confirms to sign the Agreement in entirety and to abide by the terms and conditions of the Agreement, as mentioned herein. The Allottee will execute two (2) copies of the Agreement for each apartment to be purchased. The Agreement sets forth in detail the terms and conditions of sale with respect to the Said Apartment (hereinafter defined).the Allottee agrees and understands that if the Allottee fails to execute and deliver the Agreement alongwith all annexures in its original form and all amounts due and payable as per the schedule of payments within thirty (30) days from the date of its dispatch by the Company, then the Allottee authorizes the Company to cancel the allotment and on such cancellation the Allottee consents and authorizes the Company to forfeit the Earnest Money (hereinafter defined) and Non Refundable Amounts (hereinafter defined) paid by the Allottee and the Allottee shall be left with no right, title or interest whatsoever in the Said Apartment booked by the Allottee. The Allottee further agrees and understands that the company is not obliged to send any notice/reminder in this regard. This Agreement shall not be binding on the Company until executed by the Company through its authorized signatory. The Company will have the option in its sole discretion to either accept or reject the signed Agreement within 30 days after receiving the Agreement from the Allottee. If the Company decides to accept the Agreement then Original copy of the Agreement will be sent to the Allottee for his/ her reference and record and the other copy shall be retained by the Company. The Company reserves the right to request thorough identification, financial and other information as it may so desire concerning the Allottee. The Company may reject and refuse to execute the Agreement if it is found that the Allottee has made any corrections / cancellations / alterations / modifications therein. The Company reserves the right to reject any agreement executed by the Allottee without any cause or explanation or without assigning any reasons thereof and to refuse to execute the Agreement in which case the decision of the Company shall be final and binding on the Allottee. The Allottee confirms having read and understood the above instructions and each and every clause of the Agreement and the Allottee now executes the Agreement being fully conscious of Page 1 of 76

8 his/ her rights and obligations and limitations of the Company thereunder and undertakes to faithfully abide by all the terms and conditions of the Agreement. X Allottee Instructions for execution of the Agreement: 1. Kindly sign along with joint allottees, if any, on all places marked (x) in the Agreement including all Annexures. 2. Kindly paste colour photographs, at the space provided, including that of joint allottees and sign across the said photographs. 3. The signed copies of the Agreement with all the Annexures in original form should be returned to the Company by registered post (AD)/courier/hand delivery only, within the time stipulated. 4. Kindly sign next to the tentative typical apartment plan in Annexure- VI as applied by you. 5. Witnesses should sign only on page as directed. 6. Copy of the partnership deed and resolution signed by all Partners required, in case the Allottee is a Partnership Firm. 7. Copy of Board Resolution along with a certified copy of Memorandum & Articles of Association required, in case the Allottee is a Company. 8. The para marked with * shall be filled up in case of joint allottees. 9. The para marked ** shall be filled up in case the Allottee is a Company or a Partnership Firm. X Allottee Page 2 of 76

9 APARTMENT BUYER S AGREEMENT This Agreement is made at Bangalore on this day of BETWEEN DLF HOMES RAJAPURA PRIVATE LIMITED, a company incorporated under the Companies Act, 1956, having its registered office at 1-E, Jhandewalan Extension, New Delhi and having its marketing office at DLF Project, Akshaya Nagar, Begur, Bangalore Urban (hereinafter referred to as the Company ), which expression shall, unless repugnant to the context or meaning thereof, include its successors and assigns) through its duly authorised signatory, Shri /Smt., S/D/W of r/o, authorised vide Board Resolution dated of the First Part. AND 1. Shri/Smt. Son/Daughter/Wife of Resident of Permanent address *2. Shri/Smt. Son/Daughter/Wife of Resident of Permanent address *3. Shri/Smt. Son/Daughter/Wife of Resident of Permanent address (hereinafter singly/jointly, as the case may be, referred to as the Allottee which expression shall, unless repugnant to the context or meaning thereof, include his/her /their heirs, executors, administrators, legal representatives and successors) of the Other Part. OR ** M/s. a partnership firm duly regi stered under the Indian Partnership Act, 1932 having its registered office at (hereinafter referred to as the 'Allottee' which expression shall, unless repugnant to the context or meaning thereof, include all the partners of the partnership firm and their heirs, legal representatives, administrators, executors and successors ) of the Other Part acting through its partner duly authorised by resolution/power of attorney dated Page 3 of 76

10 OR ** M/s. a Company registered under the Companies Act, 1956, having its registered office at and Corporate Identification Number (hereinafter referred to as the Allottee', which expression shall, unless repugnant to the context or meaning thereof, include its successors and assigns) of the Other Part, acting through its duly authorised signatory Shri/Smt. authorised vide Board resolution dated. Company s Representations WHEREAS A. The Company (earlier known as Muafa Real Estate Private Limited) is the absolute owner of the Said Land (hereinafter defined) and the Said Land was purchased through registered sale deeds dated 14/07/2006 registered vide document no.12677/ , dated 07/09/2006 registered vide document no.20001/ and sale deed dated 30/05/2007 registered vide document no.974/ , in the Office of the Sub-Registrar, Anekal, Bangalore. B. The development plan dated 02/02/2012 issued vide Order No.AYP/LAO/59/ and building plan dated 26/07/2012 issued vide License No.APA/LAO/59/ for the Said Complex have been approved and sanctioned by the Anekal Planning Authority. However, the Company has also made it clear and the Allottee is aware that the plans as annexed hereto are tentative and subject to change on any direction issued by the competent authority or by the Company. Any change / directions / conditions imposed by the competent authority / the Company, at any stage during the development of the Said Complex, shall be binding on the Allottee and the Allottee hereby agrees that it shall not be necessary on the part of the Company to seek consent of the Allottee for the purpose of making any such changes, in order to comply with such directions, conditions, changes as maybe imposed by any competent authority or by the Company. The building plans of the Said Complex, as may be amended and approved from time to time, shall supercede the proposed tentative building plans as given in Annexure-VI hereto and/or previously approved building plans, as the case may be. C. The tentative layout plan of the Said Complex as given in Annexure-I of this Agreement comprises of residential buildings. However, this Agreement is confined and limited, in its scope, only to the sale of the Said Apartment located in the Said Building within the Said Complex in accordance with the building plans approved by the competent authority. The Allottee agrees that the area of the Said Land or thereabouts may be modified in future to the extent as may be required /desired by the Company in its sole discretion and the Company shall be free to develop it in any manner, as it may deem fit and/or pursuant/consequent to any directions/approvals by the competent authority. D. It is clarified by the Company and acknowledged by the Allottee that the Company has not intended to convey any right or interest in any of the land falling outside the Said Building / Said Complex and no impression, representation, undertaking or promise of any kind has been given with regard to the constructions that may take place on the land outside the Said Land. Page 4 of 76

11 Allottee s Representations E. The Allottee vide Application dated.., has/have applied for allotment of the Said Apartment. F. The Allottee has inspected the Said Land on which the Said Complex / Said Building is being developed including the present layout plan, tentative building plan, tentative location plan, ownership record of the Said Land and all other documents pertaining to arrangement, competency of the Company and all other relevant details and the Allottee has confirmed that the Allottee is fully satisfied in all respects with regard to the right, title and interest of the Company in the Said Land on which the Said Complex is being construc ted and has understood all the limitations and obligations of the Company in respect thereof. The Allottee confirms that the Allottee does not require any further investigations in this regard and that the Allottee is fully satisfied in all respects. G. The Allottee is aware and inspected the layout plan (Annexure- I & IA) / building plans for the Said Complex in which the Said Apartment may be located as sanctioned by the Anekal Planning Authority vide No.APA/LAO/59/ , dated 26/07/2012. other statutory NOC s/sanctions required in respect of the Said Complex have been obtained from various authorities and the Allottee is satisfied about the same. Details of the various approvals/sanctions are as under: i) NOC from Bangalore Electricity Supply Company Ltd., (BESCOM) dated 08/08/2012 vide Order No. CEBRAZ/SEO/AEE-2/F-18(C)/ /12-13 ii) NOC from Bharat Sanchar Nigam Ltd.,(BSNL) dated 07/07/2008 vide Order No. AGM(TP) S-6/II/ /38 iii) NOC from Karnataka State Pollution Control Board (KSPCB) dated 18/06/20 12 vide Order No.PCB/110/CNP/09/H312 iv) NOC from Karnataka Fire & Emergency Services (Fire Department) dated 07/03/2012 vide Order No. GBC(1)496/2011. v) NOC for Water Supply from Hennagara Panchayath dated 21/01/2012 vide Order No.121/ vi) Environment Clearance from Ministry of Environment Forest (MOEF) dated 03/05/2012 vide Order No.SEIAA:197:CON:2011 vii) Height Clearance from Airports Authority of India (AAI) dated 13/01/2009 vide No.AAIBIA/ATM/NOC/308/2010& dated 06/02/2009 vide No.20012/1716/2008, dated 10/02/2009 vide No.AAI/20012/1724/2008. viii) Development Plan Approval from Anekal Planning Authority (APA) dated 02/02/2012 vide Order No.AYP/LAO/59/ H. The Allottee hereby affirms that it shall not be necessary on the part of the Company to seek consent of the Allottee for the purpose of making any changes in the layout plan / building plan at its sole discretion and / or in order to comply with the direction / conditions imposed by the Anekal Planning Authority or any other competent authorities. The layout plan/building plan of the Said Land/Said Complex as may be amended and approved from time to time shall supercede the proposed tentative layout / building plan as attached herewith and / or previously approved layout / building plan, as the case may be. Page 5 of 76

12 The Allottee understands that the area of the Said Land or thereabout may be modified in future to the extent as may be required / desired by the Company and the Company shall be free to carry out / develop it in any manner as it may deem fit and / or pursuant / consequent to any direction / approval by the Anekal Planning Authority. I. The Allottee acknowledges that the Company has provided all the information and clarifications as requested by the Allottee and that the Allottee is fully satisfied with the same and the Allottee has relied on his own judgments and investigation in deciding to purchase the Said Apartment and has not relied upon and/or is not influenced by any architect s plans, advertisements, representations, warranties, statements o r estimates of any nature, whatsoever (whether written or oral) made by the Company, or any selling agents/brokers or otherwise including but not limited to any representations relating to the description or physical condition of the Said Complex/Said Building/Said Apartment. No oral or written representations or statements except as mentioned in this Agreement shall be considered to be a part of this Agreement and that this Agreement is self contained and complete in itself in all respects. J. The Allottee has gone through all the terms and conditions set out in this Agreement, understood the mutual rights and obligations and agree that some of the conditions set out in this Agreement, are necessary for the purpose of maintaining the quality, prestige and exclusivity of the Said Complex and it provide the occupants with a sense of pride and identity for their residence and it is because of this reason that the Allottee is investing in the Said Apartment/Complex. The Allottee has assured the Company that in his judgment that such exclusivity would enhance goodwill and prestige of their residence and as such, the Allottee is/are fully satisfied with the purpose/objective of incorporating these conditions. The Allottee also confirm that the Allottee have chosen to invest in the Said Apartment/Said Complex after exploring all other options of similar properties available with other builders, developers and available in resale in the vast and competitive market of Banglore and the Allottee find that the Said Apartment/Said Complex is suitable for the Allottee s residence, and therefore, have voluntarily approached the Company for allotment of the Said Apartment in the Said Complex. K. The Allottee has confirmed to the Company that the Allottee is entering into this Agreement with full knowledge of all the laws, rules, regulations, notifications, etc., applicable to the Said Land in general and the Said Complex/Said Building/Said Apartment in particular and the terms and conditions contained in this Agreement in particular and that the Allottee has clearly understood his/her rights, duties, responsibilities, obligations under each and every clause of this Agreement. L. The Company relying on the confirmations, representations and assurances of the Allottee to faithfully abide by all the terms, conditions and stipulations contained in this Agreement, has accepted in good faith the Application and is now willing to enter into this Agreement on the terms and conditions appearing hereinafter. NOW, THEREFORE, THIS INDENTURE WITNESSETH AND IT IS HEREBY AGREED AND DECLARED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS: Definitions: In this Agreement, unless repugnant or contrary to the context hereof, the following terms, when capitalized, shall have the meanings assigned herein wherever used in this Agreement. When not capitalized, such words shall be attributed their ordinary meaning. Page 6 of 76

13 Act means Karnataka Apartment Ownership Act, 1972 and includes its rules and all amendments and statutory modifications thereto. Additional FRC means the charges for additional floor rise of the Said Apartment chargeable on per sq.mtr / per sq. ft. basis of the Super Area of the Said Apartment Additional PLC means the charges payable in addition to PLC for the Said Apartment being additionally preferentially located, calculated on per sq.mtr / per sq. ft basis of the Super Area of the Said Apartment. Agreement shall mean this apartment buyer s agreement including all recitals,-s, schedules and terms and conditions for allotment of the Said Apartment and/or right to exclusive use of the Parking Space in the Said Complex executed by the Allottee and the Company. Allottee means the Person who is entering into this Agreement for the purchase of the Said Apartment in the Said Complex, whose particulars are set out in this Agreement. Apartment Area shall have the meaning ascribed to it in Annexure-II. Application means the application form submitted by the Allottee to the Company for allotment of the Said Apartment and/or right to exclusive use of the Parking Space in the Said Building in the Said Complex. Common Areas & Facilities means such common areas and facilities within the Said Building/Said Complex earmarked for common use of all apartment allottees, limited to and precisely listed in Annexure-IV. Company means DLF Homes Rajapura Private Limited, having its registered office at 1-E, Jhandewalan Extension, New Delhi and DLF Project, Akshaya Nagar, Begur, Bangalore Urban , and includes its affiliates, sister concerns, subsidiary(ies) associate(s) and holding company. Conveyance Deed means the deed of conveyance conveying the title of the Said Apartment in favour of the Allottee in accordance with this Agreement. Declaration means the declaration (including any amended declaration) filed/to be filed under the Act, with the Governmental Authority with regard to the Said Apartment/Said Building/ Said Complex; Earnest Money means the booking amount paid by the Allottee along with the Application towards the allotment of the Said Apartment. External Development Charges (EDC) means the external development charges levied/leviable by whatever name called or in whatever form with all such conditions imposed by the government and/or any other competent authority on the Said Building/Said Complex and includes any further increase in such charges. Floor Rise Charges (FRC) means the floor rise charges determined and leviable by the Company in respect of the apartment located on floors above the fourth floor (4 th floor) in the Said Building calculated on per sq. mtr/per sq. ft. basis of the Super Area of the Said Apartment. "Foot print" means the precise land underneath the Said Building. Page 7 of 76

14 "Force Majeure" means any event or combination of events or circumstances beyond the control of a Party which cannot (a) by the exercise of reasonable diligence, or (b) despite the adoption of reasonable precaution and/or alternative measures be prevented, or caused to be prevented, and which adversely affects a party s ability to perform obligations under this Agreement, which shall include but not be limited to: (a) (b) (c) (d) (e) (f) (g) (h) acts of God. i.e. fire, drought, flood, earthquake, epidemics, natural disasters or deaths or disabilities; explosions or accidents, air crashes and shipwrecks; acts of terrorism strikes or lock outs, Industrial Dispute; non-availability of cement, steel or other construction material due to strikes of manufacturers, suppliers, transporters or other intermediaries or due to any reason what so ever; war and hostilities of war, riots, bandh or civil commotion; any legislation, order or rule or regulation made or issued by the Govt. or any other Authority or; if any competent Authority(ies) refuses, delays,withholds. denies the grant of necessary approvals for the Said Apartment /Said Building/Said Complex/ Said Project or if any matters; issues relating to such approvals, permissions, notices, notifications by the competent authority(ies) become subject matter of any suit/writ before competent court; for any reason whatsoever or imposition of any adverse condition or obligation in any approvals from any governmental authority, including but not limited to delay in issuance of the Commencement Certificate, Intimation of Disapproval and/or any other Certificate as may be required; the promulgation of or amendment in any law, rule or regulation or the issue of any injunction, court order or direction from any governmental authority that prevents or restricts a party from complying with any or all the term s and conditions as agreed in this Agreement; or any event or circumstances analogous to the foregoing. Governmental Authority or Governmental Authorities shall mean any government authority, statutory authority, government department, agency, commission, board, tribunal or court or other law, rule or regulation making entity having or purporting to have jurisdiction on behalf of the Republic of India or any state or other subdivision thereof or any municipality, district or other subdivision thereof, including the Anekal Planning Authority and any other municipal / local authority having jurisdiction over the Said Land. Interest Bearing Maintenance Security (IBMS) means the interest bearing maintenance security to be paid by the Allottee for the maintenance and upkeep of the Said Apartment/Said Building/ Said Complex to be paid as per the payment plan to the Company or to the Maintenance Rs. 538/- per sq.mtr.(rs. 50/- per sq. ft. approx.) of the Super Area of the Said Apartment. IBMS shall carry a simple yearly interest as per the applicable rates on one year fixed deposits accepted by State Bank of India at the close of each financial year on 31 st March to be adjusted in the manner to be stated in the Agreement. Infrastructure Development Charges (IDC) means the charges for infrastructure development, by whatever name called, levied or leviable, now or in future, by any Government Authority with a view to recover the cost of infrastructure development including but not limited to State /National Highways, transport, irrigation facilities, power & water facilities etc and/or any additional levies, fees, cesses, charges, etc.and includes any increase in such charges. Page 8 of 76

15 Internal Infrastructure Development (IIDC) means the internal infrastructure development charges of Rs.50,000/-(Rupees Fifty Thousand only) per apartment payable by the Allottee as and when demanded by the Company. Maintenance Agency means the Person who shall carry out the maintenance and upkeep of the Said Complex and who shall be responsible for providing the maintenance services within the Said Complex/ Said Building, which may be the Company or association of apartment owners or such other agency/ body/ company/companies to whom the Company may handover the maintenance of the Said Complex. Maintenance Agreement means the maintenance agreement to be executed by the Allottee with the Company/Maintenance Agency, draft of which is substantially in the form annexed herewith. Maintenance Charges means the maintenance charges payable by the Allottee to the Maintenance Agency in advance or otherwise for a period and at a rate to be decided by the Maintenance Agency in accordance with the demand raised by the Maintenance Agency for the maintenance and upkeep of the Said Complex/Said Building including Common Areas and Facilities but does not include; (a) the charges for actual consumption of utilities in the Said Apartment including but not limited to electricity, water, which shall be charged based on actual consumption on monthly basis or such other periods as may be specified by the Maintenance Agency and (b) any statutory payments, taxes etc. with regard to the Said Apartment / Said Building/ Said Complex. The details of Maintenance Charges shall be more elaborately described in the Maintenance Agreement. Non Refundable Amounts means interest paid or due on delayed payments, brokerage paid/payable, by the Company, service tax on forfeitable amounts. Parking Space means the exclusive right of the Allottee to use the parking space allotted to the Allottee for parking his vehicle. Person shall mean any individual, sole proprietorship, unincorporated association, body corporate, corporation, joint venture, trust, any governmental authority or any other enti ty or organization. Preferential Location Charges (PLC) means charges for the preferential location of the Said Apartment payable/ as applicable to be calculated on per sq. mtr/per sq. ft. basis of the Super Area of the Said Apartment, as mentioned above. Said Apartment means the specific apartment applied for by the Allottee, in the Said Building, details of which have been set out in this Agreement and includes any alternative apartment, if allotted to the Allottee in lieu of the Said Apartment. Said Building means the building in the Said Complex, in which the Said Apartment will be located. Said Complex means the complex to be developed on the Said Land, under the name and style of Woodland Heights, as per the buildings plans approved by the competent authority, comprising of six blocks of multistoried residential apartment buildings including club house /convenience shopping centre and other related facilities, etc., if any, developed on the Said Land. Said Land shall mean the converted land admeasuring 13 Acres 20 Guntas bearing part of Survey numbers 62/1 (1 Acre 32 Guntas), 63/1 (4 Acres 2 Guntas), 66 (3 Acres 17 Guntas), 67 (2 Acres 10 Guntas), 232 (25 Guntas) and 233 (1 Acre 14 Guntas),, situated at Rajapura Village, Jigani Hobli, Anekal Taluk, Bangalore, on which the Said Complex is being developed. Page 9 of 76

16 Super Area shall have the meaning as stated in Annexure-II. Taxes and Cesses means any and all taxes payable by the Company and/or its contractors(including sub-contractors), suppliers, consultants, etc. including but not limited to value added tax, state sales tax, central sales tax, works contract tax, service tax, one time building tax, luxury tax, building and other construction workers welfare fund, education cess and any other taxes by whatever name called in connection with the development/ construction of the Said Apartment/ Said Building/Said Complex. Total Price means the amount amongst others payable for the Said Apartment which includes basic sale price, PLC (if the Said Apartment is preferentially located), Additional PLC, FRC/Additional FRC, cost of right to use Parking Space, IIDC, but does not include other amounts, charges, security amount etc., which are payable as and when demanded by the Company in accordance wi th the terms of this Application / Agreement, including but not limited to - i) IBMS. ii) iii) iv) EDC/increased EDC, IDC/increased IDC, increase in IIDC, wealth tax, government rates, tax on land, fees or levies of all and any kinds by whatever name called on the Said Complex. Maintenance Charges, property tax, municipal tax, etc. on the Said Apartment. Stamp duty, registration, legal and incidental charges as well as expenses for execution of the Agreement and conveyance deed etc. which shall be borne and paid by the Applicant. v) Taxes and Cesses. vi) vii) viii) ix) Cost for electric and water meter as well as charges for water and electricity connection and consumption. Club membership fees and club charges, as applicable. Charges for additional parking space, if any, allotted. Power back-up charges, if applicable; x) Escalation Charges xi) xii) xiii) Any other charges that may be payable by the Allottee as per any of the terms of this Agreement and such other charges as may be demanded by the Company. Charges/deposits/costs for creating HT feeder for tapping electricity from State Electricity Board s source upto receiving point of the said complex including transformer and associated switchgear. Charges/deposits/costs of providing sewer, storm water and water connection to the said complex from the main line serving the said complex. Such amounts as are mentioned above shall be payable by the Allottee in accordance with the terms and conditions of the Application / Agreement and as per the demand raised by the Company from time to time. Page 10 of 76

17 Interpretation Unless the context otherwise requires in this Agreement: a. the use of words importing the singular shall include the plural and masculine shall include the feminine gender and vice versa; b. reference to any law shall include such law, as from time to time may be enacted, amended, supplemented or re-enacted; c. reference to the words include or including shall be construed without limitation; d. reference to this Agreement, or any other agreement, deed or other instrument or document shall be construed as a reference to this Agreement or such agreement, deed or other instrument or document as the same may from time to time be amended, varied, supplemented or novated. The schedules, annexures, appendices, if any, to this Agreement shall be deemed to be incor porated in and form an integral part of this Agreement. The Allottee agrees that wherever in this Agreement, it is explicitly mentioned that the Allottee has understood or acknowledged obligations of the Allottee or the rights of the Company; the Allottee has given his consent to the actions of the Company or the Allottee has acknowledged that the Allottee has no right of whatsoever nature, the Allottee in furtherance of the same, shall do such acts, deeds or things as the Company may deem necessary and/or execute such documents / deeds in favor of the Company at the first request without any protest or demur. 1. Price payable for the Said Apartment and details of items included in the price and items not included in the price. 1.1 In accordance with and subject to the terms and conditions set out in this Agreement, the Company agrees to sell to the Allottee and the Allottee hereby agrees to purchase the Said Apartment in the Said Building / Said Complex, as detailed below :- Apartment Number: Block/Tower: Floor Number: Building Name: Super Area: sq. mtr ( sq.ft. approx.) Basic sale price (Super Rs. /- per sq.mtr (Rs /- per sq. ft approx) aggregating Rs. /- (Rupees only) Preferential Location Charges (PLC): Rs. /-per sq mtr/-(rs. per sq.ft.approx) aggregating Rs. /- (Rupees only) a. Swimming Pool, Green, Club House facing apartment : Rs. /- b. Corner or independent apartment: Rs. / - c. Door Facing Direction: Rs. /- Page 11 of 76

18 Total PLC: Rs. /- (Rupees only) Floor Rise Rs. per sq mtr.( Rs. per sq.ft. approx) for floor number aggregating Rs. / - (Rupees only) Parking Space:- Open / Stilt Parking Space No.: Cost of exclusive right to use the Parking Space : Rs. /- (Rupees only) Total Price payable for the Said Apartment together with cost of exclusive right to use the Parking Space with/without * PLC with/without * FRC: Rs. / (Rupees only) Internal Infrastructure Development Charges (IIDC): Rs.50,000/- (Rupees Fifty thousand only) Interest Bearing Maintenance Security (IBMS): Rs. (Rupees Rs. 538/- per sq.mtr (Rs.50/- per sq.ft. approx) of the Super Area of the Said Apartment 1.2 The Allottee agrees and understands that the price of the Said Apartment is based on the price of materials and labour charges pertaining thereto on and around. If, however, during the progress of construction upto the expiry of Thirty (30) months from the abovementioned date, there is an increase/ decrease in the price of the materials used in the construction work and /or labour charges (hereinafter referred to as Escalation / Reduction Charges), the same shall be recoverable/ payable respectively from/to the Allot tee. In order to ensure a fair and transparent methodology for computation of Escalation/ Reduction Charges the Company shall take the respective Reserve Bank of India (RBI) Indexes as published in the RBI Monthly Bulletin for steel, cement, fuel & power, other building construction material and labour as the basis of such computation and the Al lottee agrees and accepts, that by choosing these independent RBI Indexes, the Company is ensuring the highest level of fairness and transparency. The respective RBI Indexes for the computation of the Escalation Charges in the cost of construction and labo ur cost are as below:- Steel - Index published as Steel - Long in the category of Basic Metals, Alloys & Metal Products. Page 12 of 76

19 Cement Index published as Cement & Lime in the category of Non-Metallic Mineral Products. Fuel & Power- Index published as Fuel & Power Other Building Construction materials Index published as All Commodities in the Index Numbers of Wholesale Prices in India. Labour Index published as Consumer Price Index Numbers for Industrial Workers It is mutually agreed and binding between the Allottee and the Company that 50% of the Total Price of the Said Apartment, shall be treated as construction cost for the purpose of computation of Escalation/ Reduction Charges. It is further mutually agreed that within the above stated construction cost, the components of steel, cement, other construction materials, fuel and power and labour shall be 15%, 10%, 40%, 5% and 30% respectively of the construction cost. Escalation charges shall be computed at the expiry of 30 months i.e. in March The RBI indexes for the month of October 2012 and for the month March 2015 shall be taken as the opening and closing indexes respectively to compute the Escalation/Reduction Charges. The Company shall appoint a reputed firm of Chartered Accountants to independently audit and verify the computation of Escalation Charges done by the Company from time to time. Such audited and verified Escalation/Reduction Charges shall be paid/refunded (or adjusted), as the case may be, by/to the Allottee before the offer of possession of the Said Apartment to the Allottee. Escalation/Reduction Charges, as intimated to the Allottee shall be final and binding on the Allottee. Such Escalation/ Reduction charges shall, however, be subject to a maxim um of +/- 5% of the Basic Sale Price and cost of the Parking Space of the Said Apartment. The Allottee agrees and understands that any default in payment of the Escalation Charges shall be deemed to be a breach under the terms and conditions of the Agreemen t. No possession shall be handed over to the Allottee unless Escalation Charges are paid in full along with delayed interest, if any, as mentioned in clause 38. An example enclosed herewith as Annexure-X illustrates the computation of Escalation Charges. 1.3 The Allottee hereby agrees and undertakes to pay any and all increases, if any, due to increase in escalation cost,increase in Super Area, increase in EDC/IDC/ IIDC, increase in IBMS, increases on account of additional fire safety measures undertaken, increases in all types of securities to be paid by the Allottee, deposits and charges and all other increases in cost/charges, specifically provided for in this Agreement and / or any other increase in charges which may be levied or imposed by the Government, statutory authorities or by the Company from time to time or as stated in this Agreement. 1.4 The Allottee agrees that the Company may allow, in its sole discretion, a rebate for early payments of installments payable by the Allottee, at such rates as shall be decided by the Company from time to time for the period by which the respective installment is advanced. The provision for allowing rebate and such rate of rebate shall be subject to revision / withdrawal, without giving any notice, at the sole discretion of the Company. 1.5 The Allottee shall make the payment of the Total Price as per the payment plan opted by the Allottee and set out in Annexure-III to this Agreement, along with all other charges, securities, deposits, etc., Taxes and Cesses and increases as mentioned in this Agreement, as and when demanded by the Company. Page 13 of 76

20 1.6 The Allottee understands that the building plan / layout plan of the Said Complex / Said Apartment is approved by the Anekal Planning Authority, however, the building plan / layout plan is subject to change as per the sole discretion of the Company or as directed by the Anekal Planning Authority/any other competent authority. 1.7 The Allottee agrees that the Total Price of the Said Apartment is calculated on the basis of its Super Area only, excluding the Parking Space which is based on fixed valuation and that the Super Area of the Said Apartment as stated in the Agreement is tentative. The final Super Area of the Said Apartment shall be confirmed by the Company only after the construction of the Said Apartment/Said Building/ Said Complex is completed and the occupation certificate is granted by the competent authority(ies). Total Price payable for the Said Apartment shall be recalculated and upon confirmation by the Company, any increase or decrease in the Super Area of the Said Apartment shall be payable by or refundable to the Allottee, as the case may be. In case of an increase in Super Area, the Allottee agrees and undertakes to pay for the said increase in Super Area immediately upon the demand made by the Company and in case of a reduction in the Super Area, the refundable amount due to the Allottee shall be adjusted by the Company from the final installment as set forth in the Payment Plan. The Allottee agrees and understands that the definition of Apartment Area, Super Area and the tentative percentage of Apartment Area to Super Area as on the date of execution of this Agreement shall be subject to change till the construction of the Said Apartment is complete. The Allottee affirms that the Allottee shall have no right to raise any kind of objection/dispute/claim at any time with respect to the basis of charging the Total Price or any change in the percentage of the Apartment Area to the Super Area as mentioned in Annexure-II. 1.8 The Allottee may apply for additional parking in addition to the Parking Space and the same may be provided by the Company subject to availability and on the then prevailing rates, in which case the Allottee agrees to pay the charges for any additional parking spaces (other than the allotted Parking Space). 1.9 The Allottee agrees that a sum of Rs. /-(Rupees only) is being paid towards PLC and FRC, calculated in the table contained in clause 1.1 and is to be paid by the Allottee in the manner and within the time as stated in the payment plan The Allottee agrees and understands that in case of any change in the location of the Said Apartment, due to change in the layout plan/building plan of the Said Complex / Said Building or otherwise, due to any reason whatsoever, the Allottee shall have no other right or claim except as mentioned hereinbelow. a) The Said Apartment ceases to be preferentially located then the amount of PLC, paid by the Allottee shall be refunded with simple 6% p.a from the date of realization of the amounts of PLC, and such refund shall be through adjustment in the next installment as stated in the payment plan opted by the Allottee. b) If at the time of the Agreement, the Said Apartment was not preferentially located and later the Said Apartment becomes preferentially located, the Allottee shall pay PLC of the Said Apartment to the Company as applicable and payable additionally alongwith next installment, as stated in th e schedule of payment opted by the Allottee. c) The Said Apartment becomes additionally preferentially located, (through additional preferential attributes), if at the time of the Application it was not additionally Page 14 of 76

21 preferentially located, the Allottee shall pay Additional PLC for such Additional PLC attributes to the Company as applicable and payable additionally alongwith next installment and in the manner specified in clause 1.10(a). d) The Said Apartment gets located on a floor higher/above than the floor specified in the Agreement, the Allottee shall pay to the Company FRC and/or Additional FRC as may be applicable alongwith next installment, as stated in the schedule of payment opted by the Allottee. e) The Said Apartment gets located on a floor below the floor specified in the Agreement, then the Company shall refund only such amount of the FRC as may have been paid by the Allottee with simple p.a from the date of realization of such amounts of FRC and such refund shall be through adjustment in the next installment payable by the Allottee as stated in the payment plan opted by the Allottee The Allottee agrees and acknowledges that a club / convenience shopping centre is proposed to be planned in the Civic Amenity Area (CA Area) of the Said Complex or in the adjacent land of the Said Complex, which is owned by the Company. The Allottee is aware that the development of club / convenience shopping centre is dependent on the Allottee and association of apartment owners applying to concerned planning authority for transfer of the land for the said club / convenience shopping centre. The Allottee shall ensure and cause the association of apartment owners to apply to concerned planning authority for transfer of the land to the association for development of the club / convenience shopping centre. The Allottee and the association shall further ensure that the land received from the authority is given to the Company for the establishment of the club / convenience shopping centre on the terms and conditions as decided by the Company. The Allottee undertakes, authorizes and gives consent to the Company to apply to the concerned planning authority on behalf of the Allottee / association of apartment owners for giving the CA Area to the Company to establish the club / convenience shopping centre on the land received by planning authority. The Company may in its sole discretion apply to the concerned planning authority for transfer of the CA Area and the Allottee further agrees to execute such other documents, as may be required for the said purpose. The Allottee shall be required to pay an amount of Rs.75,000/- (Rupees Seventy Five Thousand only) (which is subject to increase at the discretion of the Company) towards the development of the club facility. Further upon development of the club, the Company is authorized to manage and maintain the same. The Allottee shall fill in the form for the membership and shall be bound to abide by the terms and conditions of the club. The membership fee shall be for such term, as specified in the detailed terms and conditions for the membership of the club. The Allottee shall also be liable to pay such other charges, as shall be mentioned in the terms and conditions of the club management The Allottee agrees and understands that in addition to the Total Price, the Allottee shall be liable to pay all Taxes and Cesses, which shall be charged and paid as follows a. A sum equivalent to the proportionate share of all Taxes and Cesses shall be paid by the Allottee to the Company. The proportionate share shall be in the ratio of the Super Area of the Said Apartment to the total super area of all the apartments, including that of other buildings, etc., in the Said Complex. b. The Company shall periodically intimate to the Allottee, on the basis of certificates from a chartered engineer and/or a chartered accountant, the proportionate share of the Page 15 of 76

22 Taxes and Cesses to be paid by the Allottee and the Allottee shall make payment within 30 (thirty) days from the date of such written intimation The Allottee shall be liable to pay all fees, duties, expenses, costs, etc., including stamp duty, registration charges, transfer duty and all other incidental and legal expenses for the execution and registration of the Agreement/ Conveyance Deed of the Said Apartment. The Allottee agrees to pay the same as and when demanded by the Company within the stipulated period as mentioned in the demand letter. In case the Allottee fails to pay such amounts / charges within the period mentioned in the demand letter, the Company shall have the right to cancel the allotment/ terminate this Agreement and forfeit the Earnest Money, deduct the Non-Refundable Amounts and refund the balance amount to the Allottee without any interest only upon realization of money from re-sale/re-allotment of the Said Apartment to any other person. The Allottee shall be solely responsible and liable for compliance of the provisions of Indian Stamp Act 1899 and Registration Act, as amended up to the d ate, including any actions taken or deficiencies/penalties imposed by the Governmental Authority. 1.14(a) The Allottee agrees that any payment towards EDC/IDC/increased EDC/increased IDC levied/ leviable now or in future shall be paid by the Allottee. Any demand of EDC/IDC by whatever name called or in whatever form and with all such conditions, imposed by the Government and/or any competent authority(ies) shall be paid by the Allottee on a pro-rata basis. If such charges are increased (including with retrospective effect) after the Conveyance Deed has been executed then the Allottee undertakes to pay such charges directly to the government agency or department concerned or to the Company, on the Company raising such demand on the Allottee. In the event of such charges remaining unpaid, the Allottee agrees that same shall be treated as unpaid sale price of the Said Apartment and the Company shall have first charge and lien over the Said Apartment and an unfettered right to resume the Said Apartment to the extent of the unpaid amount and the Allottee shall have no right, title and interest of whatsoever nature, left in the Said Apartment to the extent of unpaid sale price. (b) The Allottee agrees to pay the IIDC/increased IIDC as & when demanded by the Company. The pro-rata demand made by the Company to the Applicant with regard to IIDC/ increase in IIDC shall be final and binding on the Applicant. If the IIDC/ increased IIDC is not paid, then same shall be treated as non-payment of the charges as per the Agreement and the Company shall be entitled to cancel/terminate this Agreement and allotment and forfeit the Earnest Money along with all the Non Refundable Amounts. If the IIDC/increased IIDC is levied, (with/without retrospective effect), after the Conveyance Deed has been executed then the same shall be treated as unpaid sale price/unpaid charges of the Said Apartment/ Parking Space and the Company shall have the first charge and lien over the Said Apartment/ Parking Space respectively till such unpaid charges are paid by the Allottee. 1.14(i) The Total Price of the Said Apartment is inclusive of the cost of providing electric wiring and fire safety equipment in the common areas within the Said Building/ Said Complex as prescribed in the existing fire fighting code / regulations and as contained in the National Building Code 2005 and facility for power backup not exceeding 0.75 KW for 2 BHK apartments and 1.0 KW for 3 BHK apartments in the Said Building at a load factor of 70% in addition to that for the common areas and services. However, DG set capacity calculation shall take into account s uitable overall diversity of 70%. The Total Price does not include the cost of electric fittings, fixtures, etc. If, due to any Page 16 of 76