Naya Nazimabad City Housing Scheme Karachi is well planned and Modern housing project. It is located Near Sakhi Hassan.
NAYA NAZIMABAD CITY HOUSING KARACHI – PLOTS SALE – TERMS AND CONDITIONS FOR BOOKING
1. The prtce of plot as mutually agreed between allottee and developer is determined as per DNP-l/ZP-1 which is payable as per payment schedule. Ihe cost is however adjustable at the time of demarcation. In case additional area is avaiable beside the plot, it may be allocated to allottee subject to payment of additional cost as demanded by developer.
2. The size and location of the plot is tentative and subject to adjustment after demarcation of the plot at the time of handing over the possession.
3. The allottee shall pay all installments on due dates as per ‘Payment Schedule’. AH installments shall be paid before 10th of each month. Otherwise the late payment charge will be levied at the prevailing bank rates for outstanding charges. In case of nonpayment of 3 consecutive instalments, the developer shal have the right to cancel the allotment and forfeit 15% of amount paid til date and other dues wfl also be deducted from the amount abeady paid.
4. The allottee, in addition to normal price, shall pay extra charges for comer, west open, park facing and main road facing plots as per payment schedule. These extra charges shal be paid within 180 days of booking.
5. The allottee can sel / transfer the plot in any manner after issuance of allotment order against advance intimation to developer, such transfer however always be subject to the terms and conditions and payment of transfer fee as prescribed.
6. The plot is offered for sale as per agreed schedule of payment and by vktue of sale, lease shal be executed as per lease conditions by the developer in favor of the alottee after receipt of ful payment.
7. The alottee shal take over physical possession of the plot once developed within 30 days from issuance of ‘Possession Order’, subject to clearance of al outstanding dues including surcharge. In case of delay, the developer reserves the right to claim service charges for caretaking of the plot
8. If. for any reason the allottee surrenders the plot to developer, the repayment of money advances will be subject to deduction of cancellation charges and other dues as specified by SBCA.
9. The allottee shal pay cost of documentation, utility services, sub-lease, internal and outer development charges and other incidental matters to the developer promptly on demand.
10. The developer will make every effort to obtain utility services with independent meters for individual Allottees. However, availability of such connections and incidental services is dependent on polcy of utffity companies; the developer shal not be responsible if these services are delayed.
11. The construction of project is planned to be completed within 48 months from the date of starting construction Le. 4 months after the date of announcement subject to condition of force majeure, strike, riots, war and other calamities which are beyond the control of the developer. This also includes changes in fiscal policy of the government, non availability of materials / labour etc. further delays in payment of instalments by the applicants, in such condition the developer shal be at tberty to revise / interrupt the development schedule as well as agreed payment schedule.
12. Al disputes between developer and allottee shaD be resolved through arbitration.
13. The allottee within a period of five years from the date of possession shaD construct residential building in conformity with the rules of developer / SBCA / LDA and obtain a completion certificate in accordance with the prescribed procedure. Provided that no construction, renovation and changes will be undertaken without prior NOC from developer. Provided further that developer and its authorized agent shal have the unrestricted access of the property to enter upon and inspect construction, renovation and changes as the case may be.
14. The allottee undertakes that he wil use the plot only for the purpose it is allotted and under no circumstances wil misuse any amenity norvvll encroach any area / land beyond its plot Ihe alottee undertakes to observe easement rights of its adjoining neighbors and other residents of the project
15. The builder / developer has facilitated life insurance polcy for allottee through a third party insurance company which is aimed to cover remaining payment in case of demise of allottee during the period of payment schedule. It is however clearly explained to and agreed by the alottee that such polcy is subject to the terms and conditions of the insurance policy / plan and completion of requisite formalties by the alottee. The builder / developer is just a facilitator and has no responsibility for any eventually whatsoever in this course on behalf of insurance company.
16. The developer and allottee appreciates that for better maintenance of project, professional hands are indispensable. For this the developer has retained services of ‘Management Company’ and alottee has agreed to pay such maintenance charges as periodically determined and due from time to time.
17. The alottee wil comply and abide by all the terms and conditions, bylaws and such other instructions as may be issued by developer / SBCA / IDA from time to time.
L hereby declare that I have read and understood the terms and conditions of booking of plot and accept the same.
Name of Applcant: –