Terms and Conditions
2. That the project/building of Shaheen Apartments shall be completed by 30th June 2010. Unless prevented by force majeur, war, civil commotion or such other calamities.
3. That payment of apartment(s)/ flat(s) shall be on the cash basis without any loan facility.
4. That payment of the apartment(s)/flat(s) shall be strictly as per the mode of payments attached with application form and duly accepted by the applicant.
5. That the cost of apartment(s)/flat(s) does not include lease execution, registration charges, installation of electric and gas meters. The applicant, at his own, shall pay such extra expenses and all other miscellaneous expenses.
6. That the Allotee(s) shall be bound to pay on demand to the Firm any excess amount of electricity connections estimates payable to WAPDA and Gas connections estimates to Sui Nothern Gas Co.on the demand of the Firm.
7. That internal transfer of apartment(s)/ flat(s) will be executed in favour of Allotee only if he / she has paid total amount / dues as well as documentation charges, registration fee and legal expenses. The Allottee must extend full cooperation to the Firm in connection with the execution. The Allotee(s) must take over possession of the booked apartment(s)/flat(s)of the Project with in FIFTEEN (15) DAYS of the issuance of the intimation from the firm after completing above formalities.
8. That the possession of the apartment(s)/ flat(s) will remain with the Firm until full payment(s) of the apartment(s)/flat(s) and all other dues have been paid by the applicant.
9. That the provisional Allottee(s) shall not be authorized to sublet, transfer or sell his/her apartment(s)/ flat(s) to any persons during the period in which the installment / full price/ other dues remain outstanding except with the prior written permission of the Firm. ( In case of transfer to other person(s) an amount equivalent to 2% of the total cost of apartment(s)/flat(s) flat shall be charged by the Firm as services charges / transfer fee.)
10. That in case, the provisional Allotee(s) desires to seek the amount to be refunded of the amount deposited towards Payment of apartment(s)/ flat(s) he/ she has booked, the same will be refunded to him/her within 30 days provided suitable prospective Allotee(s) for his/her apartment(s)/flat(s) is available in waiting with Firm. The Firm shall not be under legal obligation to refund the amount from their own resources. However at the time of refund 5% of the total cost of the apartment(s)/flat(s) shall be deducted as service charges. The provisional Allotee(s) may apply to substitute any willing Allotee(s) in his/ her place. Such transfer shall however will be made by the Firm as stated in para-9.
11. That the payment of installments shall be made by the Allotee strictly according to the payment schedule. If the payment is not received in time a “Reminder Notice” will be issued informing the allotee(s) to make the payment within 10(Ten) days after the issuance of the reminder notice on the address given in the application form by the allotee(s). After the lapse of the period of the “REMINDER NOTICE” a “FINAL NOTICE” will be issued. If the payment is not received within the specified period, mentioned in the final notice, the allotment of the apartment(s)/ flat(s) will be cancelled immediately and the amount deposited by the Allotee(s) will be refunded as and when the said apartment(s)/flat(s) would be re-booked by a new allotee. At the time of cancellation 5% of the total cost of the apartment(s)/ flat(s) will be deducted by the Firm as service charges, plus the delayed payment surcharges if any by the Firm.
12. That all delayed payments shall be charged by 10% surcharges, on due installment. The due amount must be paid with in 05 days by the applicant.
13. That no claim of damages or any other claim(s) etc will be entertained by the Firm, if the Firm interrupts/stop the construction work or is unable to complete the project within the given time schedule due to force majure, war, natural calamities, civil commotion, strike, go slow tactics adopted by the labor/contractor/sub contractor, or changes in policies of the Government etc.
14. That the Firm shall charge Rs. 50,000/- ( Rupees Fifty Thousand) in advance
as Security for the maintenance of building for the first two years.
15. That the Allotee agrees to become the member of the apartment(s)/ flat(s) Allotee club and make the payments of the membership fee and other charges for the maintenance and general services of the building as demanded/ decided by the apartment(s)/flat(s) Allotee club with the consent of the Firm.
16. That if for any reason(s) the project is abandoned, the firm shall refund the payment received from the applicant(s) as soon as possible from the announcement made to this effect. It is clearly understood that in such eventuality, the applicant(s) will not claim any interest or damages/ profit etc. of any nature whatsoever from the Firm.
17. That the Allotee(s) will be responsible for payments of utility bills i.e water, gas, telephone, electricity and Property Tax(s), after completion of construction and issuance of internal transfer letter by the Firm for taking over possession of the apartment(s)/flat(s). In this connection, the Firm will not be responsible for any consequences for the non payments of the bills etc.
18. That the Firm is fully authorized and reserves the right to make any reasonable change(s) in the project, building plans or construct additional floors at any time. The Allottee agrees not to raise any objection of whatsoever nature in this connection. No Allottee(s) will be allowed to use the open roof space of the building for whatever purpose.
19. That the Allottee(s) will not bring inside the building any goods or machinery which are hazardous and combustible. The Allottee shall not make any internal or external addition(s) or modification(s) without written approval from the firm.
20. That the Allottee(s) shall however, have no right or claim on the plot of land on which the building of Shaheen Apartments is constructed, any roof top and common area of the building
21. That any dispute in respect of or arising out of the terms and conditions and construction thereof shall be resolved between the parties through arbitration and the decision of the arbitrator will be final.
22. That the Firm shall correspond with the applicant on the address mentioned in the application form by the applicant. Any change in the address, the applicant shall be responsible to inform the Firm in writing about his new address.
READ, UNDERSTOOD AND ACCEPTED. AS ON ----------------------- at Islamabad.