Application: Interested client(s) will submit application in prescribed form supplied by the company duly signed by the purchaser(s) along with Booking Money and other necessary documents. The company has the right to accept or reject any application without assigning any reason whatsoever. Purchaser(s) willing to pay the entire amount at a time or a big amount in a single shot will be given preference.
Allotment: allotment will be made on first come-first served basis. Upon acceptance of Application, booking money. Down payment and other required papers, MDDL will issue an allotment later in favor of the applicant(s).this will include the payment mode which the purchase(s) should follow on receiving the allotment later. the purchaser(s) will not be in entitled to transfer the apartment to third party till the apartment is handed over to them.
Signing of Deed of Agreement: after confirmation of allotment, the purchaser(s) has to sign a deed of agreement will the company.
Payment Mode: all payment should be made by A/C payee cheque or Bank draft or pay-order in favor of mandarin design and development ltd.' Purchaser(s) residing abroad may remit payments by TT or DD. In such case amount will be calculated at the prevailing official conversation rate on the date of payment.
Delay in payment: MDDL expects its purchaser(s) to strictly maintain the payment schedule settled earlier. This must be mentioned here that hand over of a project in time solely depends on the regular payments of the purchaser(s).The purchaser(s) is liable to pay a delay charge of 2% per month on the defaulted amount. if the payment is skipped beyond 2(two) months. MDDL has the right to cancel the allotment. in case of cancellation of allotment or surrender of apartment, due refund will be made after deducting the booking money and realizing and refund amount from the purchaser(s).
MDDL'S Right: The Company has the right to accept or reject any application for allotment. It also reserves the right to make minimal changes in Architectural & structural design, internal specification and facilities for the overall interest of the project or due to unavoidable circumstances.
Apartment Size: Size (Area) of the apartment mentioned in the brochure includes net area(wall & proportionate common sharing area like lift with its lobby, staircase etc).gross size of the apartment would be measured finally after the respective floor slab casting during construction period is physical presence of the purchaser(s) (if present).The(developer will have the right to enhance the apartment price for such increased area (if gains) according to the prefixed price per sft.
Modification Cost: any change of the exterior or from outside view is not allowed. Purchaser(s) are earnestly advised not to suggest any major internal modification. Major modification will not be accepted if it goes against the beauty of the building or structural plan. Purchaser(s) are required to inform the detail of changes /modification in writing immediately after the booking of the apartment. After getting details of changes, the company will assess the feasibility and estimate the cost involved .both the company & purchaser(s) will sign an additional agreement in this regard. No changes/modification will be accepted after deadline fixed by the company. Interior design, decorative main door, additional fitting & fixture and any other changes (if possible) as per choice of allotted may be done after approval of the authority an extra cost.
Hand over: the possession of the apartment will only be made after the receiving the payment in full.
Utility Connection: connection fee, security deposit for water, gas ,electricity ,and incidental costs are not included in the apartment price .MDDL makes these payments directly to the concerned authorities and the purchaser(s) Shall reimburse the amount on the actual basis to MDDL.
Transfer of ownership: the apartment as well as the proportionate share of indivisible land will be registered in favor of each purchaser(s) as per the current rule and regulation.
Transfer cost: All the cost related to transfer of ownership like stamp duties, registration fee, vat, govt. Tax, documentation charges, and incidental expenses would be borne by the purchaser(s) on the actual basis
Flat owners' Association: the purchaser(s) must undertake to become a member of the owners' association which will be formed by the flat owners of the apartment with view to maintaining the general affair of the complex interest.