The Applicant(s) has/have fully satisfied himself/herself/themselves about title, right, interest and arrangement of the Company in the Said Project and has further understood all limitations and obligations in respect thereof.
The Applicant(s) undertake to abide by and comply with all the laws, rules and regulations, terms and conditions applicable/made applicable to the PLOT/Project. The Application fee is not refundable.
The allotment of the PLOT is entirely at the discretion of the Company. Allotment will be done only after company receive fourty percent payment of plot and Post dated Cheque for remaining sixty percent . The Applicant(s) has examined the layout, plans and designs of the PLOT which are tentative and agree that the Company may effect and make such variations and modifications therein as may be deemed necessary in the interest of the Project or as may be directed/done by any competent authority. The Applicant(s) agree that no claim, monetary or otherwise will be raised in case of any change in location and/or area of the PLOT.
Timely payment of instalments of basic sale price and all other charges pertaining to the PLOT is the essence of the terms of the booking/allotment. However in the event of breach of any of the terms and conditions of the allotment by the Applicant, the allotment will be cancelled at the discretion of the Company and the forty percent of receive amount shall forfeited. The balance amount shall be refundable to the Applicant without any interest after compliance of certain formalities by the allottee. And same procedure is applicable if applicant cancel plot by itself. Late Payment Charge will be Charge at 18% per annum for delay in EMI payment after three days from the due date.. Upon cancellation of the allotment, the Applicant shall be left with no rights and/ or claims against the PLOT and/or the Company in any manner whatsoever.
Preferential Location Charges (PLC) @ 10% of the Basic Sale Price shall be payable by the Applicant for every preferential location attribute in case the Plot is located with preferential location attributes such as (i) Corner Plot (ii) Plot facing or adjoining park/green (iii) Plot with two sides open (iv) Plot facing Main Road. The PLC shall have to be paid in addition to the sale consideration and other charges etc.
All payments by the Applicant shall be made through demand drafts drawn upon scheduled banks in favour of "DRS HOMES"
The Company shall give possession of the PLOT to the Applicant when fourty percent payment receive. The Applicant(s) agree that the sale of the PLOT is subjected to force majeure clause which inter alia include civil commotion or by reason of war or enemy action or terrorist action or earthquake or any act of God or if non delivery of possession as a result of any notice order, rule or notification of the Government and/or any other public or competent authority or for any other reason beyond the control of the Company. In any of the aforesaid events the Company shall be entitled to a reasonable extension of time for delivery of the PLOT. The Company, as a result of such a contingency arising, reserves the right to alter or vary the terms and conditions of allotment.
The Applicant shall get his complete address registered with the Company at the time of booking and it shall be his responsibility to inform the Company by Registered A.D. letter about all subsequent changes in his address, failing which, all demand notices and letters posted at the first Registered Address will be deemed to have been received by him at the time when those should ordinarily reach at such address and he shall be responsible for any default in making payment and other consequences that might occur therefrom. In all communications the reference of the allotted PLOT must be mentioned clearly.
If any misrepresentation/ concealment/ suppression of material facts are found to be made by the Applicant, the allotment will be cancelled and the money shall be forfeited and the Applicant shall be liable for such misrepresentation/ concealment/ suppression of material facts in all respect.
If the PLOT is sold / transferred by the Applicant to a third party before Full payment, the Applicant shall be liable to pay transfer charges, equal to 2.5% of the 'BSP + PLC' of the PLOT, to the Company for the first transfer of the ownership
Any kind of dispute arising out of or touching upon or in relation to the terms of this Application including the interpretation and validity of the terms thereof and the respective rights and obligations of the Parties shall be settled amicably by mutual discussion, failing which in accordance with the provisions of the Arbitration and Conciliation Act, 1996 including any statutory modification/ amendment thereof by a sole arbitrator to be appointed by the Company. The arbitration proceedings shall be conducted by arbitrator in English language and the place of arbitration shall be at Delhi only.
The Courts at Delhi shall have jurisdiction in case of any dispute.
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