Common use of HANDING OVER Clause in Contracts

HANDING OVER. 15.1 The physical possession of the Unit will be handed over to the Allottee only upon receipt of the necessary statutory clearances and occupation certificate from the concerned authorities (this time is additional to physical completion time as per clause 15.3) and subject to payment of balance consideration amount along with all other dues, interest, charges, taxes etc., 15.2 The NBCC, upon completion of the structure but prior to obtaining of the post construction approvals from statutory authorities, may at its sole discretion offer provisional physical possession of the Unit to the Allotteefor carrying out interiors etc., subject to the payment of any balance consideration amount along with all other dues, interest, charges, taxes etc., The Allottee can however, start functioning from the Unit purchased, only on getting the final possession i.e. with all the statutory post construction approvals from various authorities. 15.3 The physical completion period of the project is upto 36 months from the issuance of allotment letter. The Allottee is further made aware that if, the completion of the projects delayed due to force majeure reasons which are unforeseen and beyond the reasonable control of a party (like due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature or any other act of god affecting the regular development of the real estate project)then the NBCC shall be entitled to a proportionate extension of time. 15.4 NBCC shall not be held liable for the delay on part of the concerned authorities in granting the necessary permissions and occupation certificate (not occasioned due to any breach or deficiency on the part of NBCC / RLDA).

HANDING OVER. 15.1 The physical possession of the Unit will be handed over to the Allottee only upon receipt of the necessary statutory clearances and occupation certificate from the concerned authorities (this time is additional to physical completion time as per clause 15.3) and subject to payment of balance consideration amount along with all other dues, interest, charges, taxes etc., 15.2 The NBCC, upon completion of the structure but prior to obtaining of the post construction approvals from statutory authorities, may at its sole discretion offer provisional physical possession of the Unit to the Allotteefor carrying out interiors etc., subject to the payment of any balance consideration amount along with all other dues, interest, charges, taxes etc., The Allottee can however, start functioning from the Unit purchased, only on getting the final possession i.e. with all the statutory post construction approvals from various authorities. 15.3 The physical completion period of the project is upto 36 upto36 months from the issuance of allotment letter. The Allottee is further made aware that if, the completion of the projects delayed due to force majeure reasons which are unforeseen and beyond the reasonable control of a party (like due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature or any other act of god affecting the regular development of the real estate project)then the NBCC shall be entitled to a proportionate extension of time. 15.4 NBCC shall not be held liable for the delay on part of the concerned authorities in granting the necessary permissions and occupation certificate (not occasioned due to any breach or deficiency on the part of NBCC / RLDA).