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Residential Apartments Buyer Agreement Vikuj Developers

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					                                           Residential Apartments Buyer Agreement



This Agreement is made at Gurgaon on this day............................of month........................ year...........................


                                                                        BETWEEN


Vikuj Developers (P) Ltd., a company registered under the Companies Act, 1956 and having its registered office at
905 Tower B, Global Business Park, MG Road, Gurgaon, Haryana 122002, India (hereinafter called ‘the
Company’, which expression shall unless it be repugnant to the context thereof, be deemed to include its
successors, liquidators and assigns) through its duly Authorized Signatory / Director


Shri VARUN CHOPRA S/of Shri VINOD CHOPRA R/of D-1/33 Vasant Vihar, New Delhi 110057, India
of the One Part
                                                                              AND


     1. Shri / Smt / M/s           ...............................................................................................................................
          S/W/D of                 ...............................................................................................................................
          Resident of              ...............................................................................................................................
                                   ...............................................................................................................................


     2. Shri / Smt / M/s           ................................................................................................................................
          S/W/D of                 ...............................................................................................................................
          Resident of              ...............................................................................................................................
                                   ...............................................................................................................................


(hereinafter called ‘the Apartment Allottee(s)’ which expression shall unless it be repugnant to the context thereof,
be deemed to include his/her/their heirs, successors, legal representatives, administrators, executors, nominees and
assigns) of the Other Part.


Whereas the Company is in the process of developing and constructing a Multi-storeyed Residential Complex to be
known as “Ranikhet Royal Pine Apartments” on a piece of land situated in Mauja/Village – Chakuni, Tehsil –
Ranikhet, District – Almora, State - Uttarakhand 263648 (hereinafter referred hereto as the “Said Land or
Project”).


And whereas the Apartment Allottee(s) after inspection of the site, ownership title ship, construction byelaws laid
down by the local regulatory authorities and all connected papers, have satisfied themselves in all respect and have




                     Company                                                   Allotte                                                           Allotte

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applied to the Company for the allotment of an Apartment(s) in the proposed Group Housing Complex to be known
as ‘Ranikhet Royal Pine Apartments’.


And whereas the Company has accepted the application, S. No ......................... and has allotted him/her/them an
Apartment type.................................................................................................. marked as Apartment number in
Tower ................Apartment number ................... on Floor ...................., having super area of approximately
............................ in the proposed project (hereinafter referred to as the said ‘Apartment’). The Basic Sale Price is
Rs. .................................(in words Rs..........................................................................................................................)
and on other terms and conditions of sale.
Possession .................................


NOW THIS INDENTURE WITNESSETH and is hereby agreed by and between the parties hereto as follows:


      1. THAT the Company has agreed to sell and the Apartment Allottee(s) have agreed to purchase the said
         Apartment as detailed below on what is known as “Ownership Basis” at the rate mentioned against it and
         upon the terms & conditions set out hereunder as mutually agreed by and between the parties hereto.


Tower Number                Floor Number                     Apartment Number                   Super Area (Sq Ft)                 Rate (per Sq Ft)




      2. THAT Electric connection charges will be charged extra and the amount payable on this account will
         depend upon the estimate furnished by Uttarakhand Power Corporation Limited (UPCL) for service
         connection. The Allottee is responsible to pay all their dues to UPCL timely in order for continued
         electricity service.
      3. THAT there is no additional Preferential Location Charges (PLC) for allotment of a particular floor or
         location of an Apartment.
      4. THAT Parking is free at sight and no additional charge will be levied for parking.
      5. THAT the Apartment Allottee(s) agree that for the purpose of calculating the sale price in respect of the
         said Apartment, the super area shall be inclusive of covered area, area under the periphery walls, area under
         stair cases, common wall, circulation areas, shafts, passage, corridors, lobby and the like areas. It is
         mutually agreed that the Apartment Allottee(s) even after taking possession of the said Apartment shall
         have no right, claim, title or interest whatsoever of any nature or kind except right of ingress/egress over or
         in respect of land, open spaces and all or any of the common areas such as lobby, staircases, corridors,
         terraces, etc.
      6. THAT notwithstanding the fact that a portion of the common areas has been included for the purpose of
         calculating the super area of the Apartment, on account of the structural design of the building without
         which there can be no support of the said Apartment. It is repeated and specifically made clear that it is only
         the inside space in the said Apartment that has been agree to be sold and the inclusion of the common areas



                         Company                                                  Allotte                                                      Allotte

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     in the computation does not give/create any right or interest therein as such to the Apartment Allottee(s). It
     is however agreed that if the maintenance deposit is paid, the Allottee(s) will have the right to use the
     common facilities and in case of default of such payment, it shall not be open to the Apartment Allottee(s)
     to claim any right of passage to and fro. The use of the facilities shall be permitted only after the breach is
     rectified and the Company is assured that there will be no repetition of the breach.
7. THAT the Company shall look after the maintenance and the upkeep of the common areas and facilities in
   the Building(s). The same may be handed over or contracted to a third part for the upkeep and maintenance
   of the Project. The Apartment Allottee(s) bind themselves to pay regularly the said demand to the Company
   or any other agency appointed to undertake the said task. The Apartment Allottee(s) shall pay a sum of
   Rs. .................. per Sq. Ft. (in words Rs. .......................................... per Sq. Ft.) every ....................... months
   to the said Company or its authorized representative. It is essential the Apartment Allottee(s) pays the
   maintenance dues timely in order to use all the common facilities and rights of the Project or access to their
   apartment. The Company has the right to raise the maintenance fees based on increment in expenses or
   salary accounts, incurred on site. The Apartment Allottee(s) would be duly informed about the increment 2
   months in advance. All payments must be duly and timely paid.
8. THAT the Apartment Allottee(s) has already paid a sum of Rs. ........................................... (in words Rs.
   ....................................................................................................................) being approximately .................%
   of the sale price at the time of the registration of the purchase of the said Apartment. The receipt of which
   the Company hereby acknowledges and the Apartment Allottee(s) agrees to pay the remaining sale price
   and all other charges in the manner indicated and discussed. The Apartment Allottee(s) has agreed that the
   Company is under no obligation to send demand reminders for payments.
9. THAT the Apartment Allottee(s) shall make all payments through cheque/demand drafts payable to Vikuj
   Developers (P) Ltd. or pay via other agreed modes.
10. THAT the payment of instalments as per the payment plan shall be the essence of this transaction. It is
    essential for the Allottee(s) to adhere to the terms of payment and conditions of allotment. The Allottee(s)
    has the right of refund within 60 days from the date of the 1st deposit/advance. The company will return the
    money without any interest. After 60 days all balance payments must be paid timely. If Allottee(s) does not
    pay within 60 days the due instalment, then the Company has the discretion to cancel the allotment and
    forfeit the previous amounts paid to the Company. For example, if payments have been made successfully
    up to 2 instalments but Applicant Allottee(s) is unable to make 3rd payment within 60 days of being due,
    then their 1st and 2nd instalment/payments made, can be forfeited and Allotment cancelled. The Company at
    its sole discretion may allow time extension based on genuine reasons but, if extension allowed, a penalty
    interest of 18% p.a. would be applicable from the date of payment due.
11. THAT the last payment will be due on completion of the said Apartment after the premises is ready for use
    and occupation. The Company shall inform the Apartment Allottee(s) for making the final payment and
    taking over the possession. If the Allottee(s) does not pay within the 30 days frame with 18% interest, then
    the Company will have the discretion to cancel the Allotment and forfeit the amount.
12. THAT after the first 60 days, if due to any reason or delay whatsoever, the allotment gets cancelled by the
    Allottee(s) himself/herself or by the Company upon breach of the covenants of this agreement, then the
    Company shall forfeit the entire earnest money and this agreement to sell or any other documents executed
    between the parties shall stand cancelled. And the Apartment Allottee(s) shall be left with no lien/charges
    whatsoever on the said Apartment allotted earlier. The Company shall be free to deal with the said premises
    in any manner whatsoever at its own will and discretion.




                  Company                                                Allotte                                                    Allotte

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13. THAT the Apartment Allottee(s) shall not be entitled to get the name(s) of his/her/their nominee(s)
    substituted in their place. The Company may, however, at its sole discretion permit such substitution on
    such terms & conditions including payments of such service/administrative charges as it may deem fit. Any
    change in name (including addition/deletion) registers as Apartment Allottee(s) will be deemed as transfer
    for this purpose. And the terms & condition of the present agreement shall continue to be binding upon the
    transferee/nominee.
14. THAT it is the responsibility of the Apartment Allottee(s) to obtain the permission, if any, required for
    substitution of his/her/their nominee(s) in their place as the new Apartment Allottee(s) or for further sale or
    transfer of their apartment or substitution of his/her/their nominee(s). Any sale or transfer would only be
    possible on paying the transfer charges to the company. The prevalent transfer charges may be inquired
    directly from the Company.
15. THAT the Apartment Allottee(s) has accepted the plans, designs, specifications shown to them which are
    tentative and kept in the Company’s head office Vikuj Developers (P) Ltd., 905 Tower B, Global Business
    Park, MG Road, Gurgaon, Haryana 122002, India and agrees that the Company may make variations,
    additions, alterations and modifications therein as it may, in its sole discretion may deem fit and proper. The
    Apartment Allottee(s) gives his/her/their consent to the above variations/modifications. In case due to the
    modifications there is a reduction in the Super Area committed to the Apartment Allottee(s), then the
    Company will be liable to refund the amount for the reduced area in a prorated manner (without interest).
16. THAT in case the Project is delayed due to Force Majeure, Act of God, war, earthquake, enemy action,
    Government regulation or any other reason beyond the control of the Company. Then the Apartment
    Allottee(s) shall provide a reasonable extension of time for delivery of possession of the said Apartment.
17. THAT in case of the aforesaid or any other reason, the Company is forced to abandon the whole or part of
    the Project, then in that case the liability of the Company shall be limited to the refund of the amount paid
    by the Apartment Allottee(s), without any interest or compensation.
18. THAT as a result of any law passed by any legislature or rule, regulation or order made and/or issued by the
    Government or any other authority including municipal authority, the Company is unable to complete the
    aforesaid Building(s) and/or deliver possession thereof to the Apartment Allottee(s), then the Company
    may, if so advised, challenge the validity, applicability or efficacy of such legislation, rule or order by
    moving the appropriate court(s), tribunal(s) and/or authority(ies) in pursuance of this Agreement, shall
    continue to remain with the Company and the Apartment Allottee(s) shall not be entitled to move for or to
    obtain specific performance of the terms of this Agreement, it being specifically agreed that the Agreement
    shall remain in abeyance till final determination of such matters/cases by the
    court(s)/tribunal(s)/authority(ies). In the event of the Company succeeding in its challenge to the impugned
    legislation or rule or order, as the case may be, it is hereby agreed that the Agreement shall stand revived
    and the Apartment Allottee(s) shall be entitled/liable to the fulfilment of all rights, claims and obligations in
    respect to this Agreement. It is herby further agreed that in the event of the aforesaid challenge of the
    Company to the impugned legislation/order/rule not succeeding and the said legislation/order/rule becoming
    final, absolute and binding, which hinders the completion of the Project then the Company will refund to
    the Apartment Allottee(s) and several other persons who have purchased or applied for Apartments, the
    amount (attributable to the said Apartment). The time frame shall be decided between both the parties and
    the Company shall be liable to return the received amount without interest or compensation.




             Company                                  Allotte                                    Allotte

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19. THAT the Apartment Allottee(s) shall from the date of possession or from the date of receiving the deemed
    possession letter, maintain the said Apartment, its walls and partitions, sewers, drains, pipes and
    appurtenance thereto or belonging thereto at his/her own expense, in a good and tenantable repair and
    condition and ensure that the support of the Building(s) or pertaining to the Building(s) in which the said
    Apartment is located, is not in any way damaged or jeopardized. The Apartment Allottee(s) shall undertake
    to adhere to all byelaws applicable for safety, fire by the local municipal authorities. They shall in no ways
    obstruct or violate any terms and conditions which may be liable for penalization. Any loss or damage
    arising due to breach of these conditions shall be borne by the Apartment Allottee(s).
20. THAT the Apartment Allottee(s) agree not to use the Apartment or permit the same to be used for any
    purpose other than the purpose sanctioned by the authority concerned, or use it for any other purpose which
    may cause possible nuisance to the other occupants of the Project. The said Applicant shall not use the
    premises for any other purpose of trade, business, employment, services. Neither will they store any illegal,
    hazardous, or combustible substance which may endanger the life of the said and surrounding individuals.
21. THAT the Apartment Allottee(s) agrees not to:
    a. Put up any name/sign board, neon light, publicity or advertisement material, etc outside the Apartment
       or anywhere exterior of the building or common areas. Furthermore they will be permitted to display a
       name and address board in a designated area at the entrance of the Building and the Apartment.
    b. Change the colour scheme of the outer walls or painting of the exterior side of the doors/windows
       which will affect the continuity of the look of the project.
    c. At any time demolish the said Apartment or any part thereof nor will they make any
       additions/alterations/modifications or unauthorized construction of whatever nature. Neither shall they
       chisel or damage the columns, beams, walls, slabs or R.C.C. or other structural members of the
       Building.
    d. Make noise pollution by use of loudspeakers or throw away rubbish, dust, rags, garbage or refuse,
       anywhere except the marked areas within the Building complex.
    e. Fix / install air conditioners at any other place(s), besides the marked places within the Apartment. The
       Apartment Allottee(s) will strictly not open or project such items into the common areas like passage,
       corridors, staircase, etc and ensure water does not drip into this area either.
22. THAT the Apartment Allottee(s) agrees and undertakes that he/she/they shall after taking possession or
    receiving deemed possession of their Allotted Apartment, or at any other time, have no right to object the
    Company from constructing or continuing their construction of the other Buildings (adjoining or
    independently) located within the compound of the said Project. The Company may be continuing
    construction at their (Company’s) own cost.
23. THAT the Company will provide common recreational facilities like gaming room, meditation room,
    cafeteria (chargeable to purchase food items), staff quarters (not allotted) within the compound of the
    Project. The same shall be provided free of cost and no charges shall be billed to the Apartment Allottee(s).
24. THAT the said Apartment hereby agreed to be sold is a part of a Group Housing Complex and it is in the
    best interest of the Apartment Allottee(s) that some safeguards be provided to prevent the entry of
    unauthorized person(s) into the main complex or common areas. Also they provide to give an effective hand
    to the Company / Maintenance Agency to deal with such unlawful entrant/loiterers/vendors/peddlers etc.




             Company                                Allotte                                   Allotte

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25. THAT the Apartment Allottee(s) agree to pay on demand taxes of all or any kind whatsoever which may be
    levied or leviable now or in the future. This may be levied on land or building and shall be borne by the
    Apartment Allottee(s) in proportion to the area of their Apartment. Such apportionment shall be made by
    the Company, as the case may be, and the same shall be conclusive, final and binding upon the Apartment
    Allottee(s).
26. THAT the Apartment Allottee(s) agrees and binds himself/herself/themselves to pay regularly, on demand,
    to the Company or any other Agency appointed/nominated by the Company all taxes, levies and imposition
    that may be from time to time be levied on the land or Building. The Apartment Allottee(s) further
    undertakes to pay the water and power consumption as per the meter installed or billed by the Company.
27. THAT the structure of the Project Building(s) may get insured against fire, earthquake or similar
    devastation. But the content of individual Apartments shall be insured by the Apartment Allottee(s) at their
    own cost and discretion. The Company shall not permit any act or thing which may render void or voidable,
    the insurance of the Building(s) or cause increased premium to be payable in respect thereof.
28. THAT the Apartment Allottee(s) shall permit the Company / Maintenance Agency and their surveyors,
    agents and workmen at all reasonable time to enter the Apartment to examine, view or repair any defects,
    decays changes, or repairs to be done. The same can be in context to rebuilding, lighting, cleaning of
    drains, pipes, cables, water courses, gutters, wires, etc.
29. THAT the registration charges for execution and registration of sale deed in favour of the Apartment
    Allottee(s), the Company shall complete the sale and effect the Registry of the said Apartment to the
    Apartment Allottee(s) in such a manner permissible at the expense of the Apartment Allottee(s).
30. THAT a financial Institution may have the charge/lien on the said Apartment against a loan, if any, taken by
    Apartment Allottee(s) for the purchase of the same. However, if there is any outstanding dues of the
    Company in respect of the said Apartment against the Apartment Allottee(s), the same shall constitute the
    first charge on the Apartment.
31. THAT all notices to be served on the Apartment Allottee(s) as contemplated by this agreement shall be
    deemed to have been served if sent to the address below. In case of Joint applicant then the name mentioned
    below shall appear to be the First Applicants name and it will be implied all other Applicants have been
    served the same communication. No separate communication shall be necessary.


           To Shri / Smt / Ms. / M/s..........................................................................
           ................................................................................................................
           ................................................................................................................
           ................................................................................................................

    It shall be the responsibility of the Apartment Allottee(s) to inform the Company by Registered (AD) letter
    about any changes of their address, failing which it will be implied all communication is received and the
    Apartment Allottee(s) is liable for any default in payment or other consequence that may accrue from there.
32. THAT unless the Registry of the said Apartment is not done in the favour of the Apartment Allottee(s), till
    then the Company shall continue to be the owner of the Apartment and all amounts paid by the Apartment
    Allottee(s) under this agreement shall merely be an advance payment for the purchase of the said
    Apartment. The Apartment Allottee(s) shall not have any lien or interest on the Apartment until he/she/they




             Company                                                      Allotte                                             Allotte

                                                                           Page | 6
    have complied with all the terms & conditions of this Agreement and a sale deed of the Apartment has been
    executed and registered in his/her/their favour.
33. THAT if the Apartment Allottee(s) is a resident outside India, then they shall be responsible themselves to
    comply with all the necessary formalities laid down by the Foreign Exchange Management Act, 1999 and
    other applicable laws including that of remittance of payment(s) and for acquisition of the immovable
    property in India. The Apartment Allottee(s) shall themselves provide and furnish the necessary declaration
    to the Company.
34. THAT if the Apartment Allottee(s) has to pay any commission or brokerage to any person/company for
    services rendered by the latter for introduction/purchase of the said Apartment, then the brokerage amount
    shall not be deducted from the Sale Price of the Apartment. The Apartment Allottee(s) is responsible
    themselves to negotiate and pay any brokerage applicable.
35. THAT if any provision of this Agreement shall be determined to be void or unenforceable under the
    applicable law, such a provision shall be deemed amended or deleted in so far as reasonable consistent with
    the purpose of this Agreement and to the extent necessary to confirm to applicable law and the remaining
    provisions of this Agreement shall remain valid and enforceable in accordance with their terms.
36. THAT this Agreement is the only Agreement touching upon the purchase of the said Apartment and
    supersedes prior discussions or any other agreements or arrangement, whether written or in oral, if any
    between the parties. Communication/commitments done by the Company on their Letterhead then signed
    and stamped by the authorized signatory shall be binding upon the Company and that communication may
    be attached along with.
37. THAT the Hon’ able Courts in Haryana alone shall have jurisdiction in all matters arising or concerning out
    of this Agreement.
38. That for all intents and purpose, singular may include plural (and vice versa) and Masculine may include
    feminine gender (and vice versa). These expressions shall also be deemed to have been modified and read
    suitable wherever Apartment Allottee(s) is a Joint Stock Company or any other body corporate,
    organization or an association.
39. THAT the Apartment Allottee(s) hereby declare that he/she/they have gone through the Agreement and all
    documents related to the said Project and have expressly understood the contents, terms & conditions of the
    same and after being fully satisfied have entered into this Agreement.


In Witness Whereof the parties hereto have hereunto and to a duplicate copy hereof set and subscribed their
respective hands at places and on the day, month and year mentioned under their respective signatures.


Sign and Delivered by within named Company , Vikuj Developers (P) Ltd. through its Director Shri
VARUN CHOPRA on this ..................day of..........................year ........................


For Vikuj Developers (P) Ltd.




                Company                                        Allotte                                 Allotte

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Director



1) Sole / First Applicant Name -                                                   Date................................
                                                                                   Place...............................



.....................................................................
Sole/ First Applicant (Signature)




2) Second Applicant Name -                                                         Date................................
                                                                                   Place...............................



.....................................................................
Second Applicant (Signature)


                                                                                              Witness


                                                                                   1. Signature..........................................


                                                                                        Name           ..........................................


                                                                                        Address ............................................
                                                                                        ..........................................................
                                                                                        ..........................................................


                                                                                   2. Signature..........................................


                                                                                        Name           ..........................................


                                                                                        Address ............................................



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                     ..........................................................
                     ..........................................................




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