Terms and Conditions
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If someone fills out this Application Form on behalf of the buyer(s)/firm/Company, they need to provide the right documents like Authorization/Power of Attorney/Board Resolution if necessary. Once signed, the terms and conditions are fixed and can't be altered.
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If the Developer is unable to provide the villa/apartment chosen, they will look for another one or refund the deposited money without interest. However, the Developer won't give any compensation in these situations.
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The potential buyer(s) are responsible for following all applicable laws, notices, and guidelines when buying real estate in India.
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If the buyer doesn't pay 10% of the total sale amount within 30 days of booking, the Developer may cancel the reservation and charge a 5% cancellation fee based on the total sale amount.
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If the Buyer(s) choose to cancel the booking for the Villa/Flat, a 5% cancellation fee will be deducted from the total cost of the Villa/Flat (including amenities). The Developer will issue a refund, if applicable, either after the project is completed or upon finding another buyer for the Villa/Flat, whichever happens first. The Buyer(s) will not receive any extra compensation aside from the refund (which includes cancellation fees). The refund will be made either by cheque or through RTGS, finalizing the cancellation process.
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The Buyer(s) agrees to follow the Payment Schedule provided and agrees to pay interest at a rate of 13% per year for any late payments that exceed 15 days after the due date of each installment. If payments are delayed for more than 3 months, the Developer can cancel the booking and give it to someone else without telling the Buyer(s) beforehand. If canceled, a 5% cancellation fee will be taken from the total amount paid by the Buyer(s) for the Villa/Flat (including Amenities) before refunding the Advance payment.
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Any payments made to the Government for legal purposes, including accrued interest during late installment payments, will only be refunded once an alternative buyer is found for this booking.
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If the Sale Agreement is not completed between the Buyer(s) and the Developer within 30 days of booking, the Developer can cancel the reservation and give it to someone else without telling the Buyer(s). The refund of the initial payment will be given after subtracting a 5% cancellation fee from the total amount paid for the Villa/Flat (including amenities) and any taxes paid to the government.
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The Buyer(s) cannot sell, transfer, or change the booking(s) until the sale deed is officially signed over to them.
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Payment must be made by Account Payee Cheque, Demand Draft, or RTGS payable to "Sri Aditya Squares N". If a cheque bounces, a fee of Rs.500/- will be charged for each returned cheque. Interest will be added starting from the due date, and the company may use legal means to collect the payment.
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The Developer keeps ownership rights to the Villa until the full payment of the sale price, fees, and completion of all legal obligations.
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Before registering the Sale deed, the Buyer(s) must pay Rs.50/- per square foot for the complex's maintenance fund. After one year of maintenance and transferring the responsibilities to the Association, this amount will go to the Association.
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The Buyer(s) must pay Rs.36/- per square foot for maintenance charges during the first year. The Developer will decide when maintenance of the complex will begin. Initially, either the Developer or its chosen Maintenance Agency will manage the project. Maintenance charges will start after the Occupation Certificate for the project is received.
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The Buyer(s) are responsible for paying all government fees, GST, and other charges required by the Company.
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Buyers with NRI/PIO status or foreign citizenship must follow the rules in the Foreign Exchange Management Act 1999 and other relevant laws for this transaction. This might involve sending payments and buying property in India. NRIs should use their NRI account for payments. If paying from an NRE or NRO account, PAN Card details are needed (copy).
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Buyers need to provide their full mailing address to the Developer when booking. They must also update the Developer about any address changes by sending a registered letter. If they don't, any notices or letters sent to the original address will be seen as received by the Buyers. Buyers will be responsible for any missed payments or issues because of this.
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If there are multiple Buyers, the Developer will send all communications to the Buyer whose name is listed first on this Application Form, using the address provided for mailing. This will be seen as served to all Buyers, and no additional communication will be needed for the other named Buyers.
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The Buyer(s) understand and agree that visiting a Villa/Flat under construction is unsafe. They agree not to ask to visit until it's fully built. They also agree to visit at a set time and follow all safety rules and procedures.
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The architectural details shown in the marketing materials, like building design, colors, or other appearances, are just examples. The Developer can change these details if needed.
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The Buyer(s) acknowledge and accept that the Developer will not entertain any requests for alterations or customizations to the Villa/Flat, regardless of their scale. The Developer will adhere to the standard specifications outlined in the Sale Agreement when constructing the Villa/Flat.
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Interior work can only start after the Buyer(s) takes control of the Villa/Flat. The interior work must be finished within three months from the possession date and can only happen between 8:00 A.M. and 7:00 P.M. No one, including interior workers, can live in the Villa/Flat during this period.
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Villa/Flat Owners are required to pay usage fees for accessing amenities such as Club facilities, swimming pool, Gym, etc., as set by the Developer when these amenities are accessible. These fees are applicable as long as the Developer is responsible for maintaining them.
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Buyer(s) should be aware that the Developer might obtain loans for general purposes or construction finance by pledging the project site and assigning sales receivables to Banks/Financial Institutions. The Developer will obtain the necessary No Objection Certificate when completing the Sale Deed for the Buyer(s) or as requested by the Buyer(s)' bankers.
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If any rules in this Application form clash with those in the Agreement of Sale or Sale Deed when signed, the rules of the latter documents will be more important than those in this Application.
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In case of any disagreement, only the Courts in Hyderabad District will handle it.