Common use of POSSESSION OF THE PLOT Clause in Contracts

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said [Plot] - The Promoter agrees and understands that timely delivery of possession of the [Plot] to the allottee and the common areas to the association of allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the [Plot] along with ready and complete common areas with all specifications, amenities and facilities of the project in place on Xxxxxxx Xxxxx City Bhopal [DATE OF DELIVERY] , unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature affecting the regular development of the real estate project (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the [Plot], provided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee the entire amount received by the Promoter from the allotment within days from that date. The promoter shall intimate the allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee agrees that he/ she shall not have any rights, claims etc. against the Promoter and that the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement.

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said [Plot] Plot - The Promoter agrees and understands that timely delivery of possession of the [Plot] Plot along with right to use of general common areas and limited common areas as specified in Para C above to the allottee Allottee(s) and the common areas to the association of allottees or the competent authority, as the case may be, as provided under Rule 2(1)(f) of Rules, 2017, is the essence of the Agreement. The Promoter assures to hand over possession of the [Plot] Plot along with ready and complete right to use of General common areas with all specifications, amenities and facilities of the project limited common areas as specified in place on Xxxxxxx Xxxxx City Bhopal [DATE OF DELIVERY] , Para C above as per agreed terms and conditions unless there is delay or failure due to war“force majeure”, floodCourt orders, droughtGovernment policy/ guidelines, firedecisions, cyclone, earthquake etc. or any other calamity caused by nature reasons whatsoever affecting the regular development of the real estate project (“Force Majeure”)project. If, however, the completion of the Project is delayed due to the Force Majeure conditions above conditions, then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the [Plot], provided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the project and the promoter abandons the project due to Force Majeure and above mentioned conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee Allottee, the entire amount received by the Promoter from the allotment allottee within days from that dateninety days. The promoter shall intimate the allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee agrees that he/ she shall not have any rights, claims etc. against the Promoter and that the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement.

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said [Plot] - : The Promoter agrees and understands that timely delivery of possession of the [Plot] to the allottee and the common areas to the association of allottees or the competent authority, as the case may be, Plot is the essence of the Agreement. The Promoter Promoter, based on the approved plans and specifications, assures to hand over possession of the [Plot] along Plot within 24 (Twenty Four) months, with ready and complete common areas with all specifications, amenities and facilities an additional period of the project in place on Xxxxxxx Xxxxx City Bhopal [DATE OF DELIVERY] 12 (Twelve) months, unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature affecting the regular development of the real estate project (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee agrees that the Promoter shall be entitled to the extension of time for of delivery of possession of the [Plot], provided that such Force Majeure conditions are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the project due to Force Majeure conditionsConditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate date without any interest and after deduction of Tax which was already paid to the allottee about such termination at least thirty days prior to such terminationgovernment. After refund of the money paid by the Allottee, the Allottee Xxxxxxxx agrees that he/ he/she shall not have any rights, claims etc. against the Promoter and that the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. Procedure for taking possession - The Promoter, upon obtaining of the occupancy certificate to the competent authority shall offer in writing the possession of the Plot, to the Allottee in terms of this agreement to be taken within 3 (Three) month from the date of issue of such notice and the Promoter shall give possession of the Plot to the Allottee. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee agree(s) to pay the maintenance charges as determined by the Promoter / association of Allottees, as the case may be. The Promoter on its behalf shall offer the possession to the Allottee in writing within days of receiving the occupancy certificate* of the Project.

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said [Plot] Unit - The Promoter agrees and understands that timely delivery of possession of the [Plot] plot to the allottee Allottee(s) and the common areas Common Areas and Facilities of the Project to the association of allottees or the competent authority, as the case may beResidents' Association, is the essence of the Agreement. The Similarly, the Allottee(s) understands that the timely payment of Total Payable Amount of the Unit and other amounts in accordance with this Agreement is the essence of this Agreement. Therefore, subject to timely payment of Total Payable Amount and other amounts by the Allottee(s) as per this Agreement, the Promoter assures to hand over handover possession of the [Plot] Plot on or before, However, the complete Project along with ready the Common Areas and complete common areas Facilities of Project with all specifications, amenities and facilities of shall be developed and handed over to the project in place Residents' Association on Xxxxxxx Xxxxx City Bhopal [DATE OF DELIVERY] , or unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature affecting the regular development of the real estate project (“Force Majeure”). If, however, the completion of the Building/Project is delayed due to the Force Majeure conditions force majeure then the Allottee Allottee(s) agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the [Plot]Unit/Common Areas and Facilities of the Project and the Promoter shall not be liable to pay any penalty/ interest/compensation during such force majeure, provided that such Force Majeure conditions force majeure are not of a nature, nature which make it impossible for the contract to be implemented. The Allottee Allottee(s) agrees and confirms that, in the event it becomes impossible for the Promoter to implement construct the project Building due to Force Majeure conditionsforce majeure, then which shall be assessed by the Promoter, the Promoter shall, inform the Allottee(s) about such impossibility along with notice of termination of the allotment and upon termination of this allotment shall stand terminated and Agreement, the Promoter shall refund to the Allottee Allottee(s) the entire amount received by the Promoter from the allotment Allottee(s) with interest (computed at the Interest Rate) within forty-five (45) days from that date. The promoter shall intimate the allottee about such date on which termination at least thirty days prior to such terminationbecame effective. After refund of the money paid by the AllotteeAllottee(s), the Allottee Allottee(s) agrees that he/ she shall not have any rights, claims etc. against the Promoter and that the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement.

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said [Plot] Plot - The Promoter agrees and understands that timely delivery of possession of the [Plot] Plot to the allottee and the common areas to the association of allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the [Plot] Plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on Xxxxxxx Xxxxx City Bhopal [DATE OF DELIVERY] , unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature affecting the regular development of the real estate project (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the [Plot], provided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. The promoter shall intimate the allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee agrees that he/ she shall not have any rights, claims etc. against the Promoter and that the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. Procedure for taking possession - The Promoter, upon obtaining the completion certificate* from the competent authority shall offer in writing the possession of the [Plot], to the Allottee in terms of this Agreement to be taken within two months from the date of issue of completion certificate. [Provided that, in the absence of local law, the conveyance deed in favour of the allottee shall be carried out by the promoter within 3 months from the date of issue of completion certificate]. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfilment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee, after taking possession, agree(s) to pay the maintenance charges as determined by the Promoter/association of allottees, as the case may be after the issuance of the completion certificate for the project. The promoter shall hand over the occupancy certificate of the apartment/plot, as the case may be, to the allottee at the time of conveyance of the same.