PAYMENT PLAN |
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General terms and Conditions of Allotments :
Imperial development technology is the exclusive developer and builder for planning, implementing and allotment of all facilities of aristocracy a modern luxurious apartment complex, consisting of self contained apartment, reserver car parking, other features etc. Described in details in the brochure of aristocracy.
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* The schedule if implementation has been mathodically and carefully prepared to ensure high quality and smooth progress of work. Construction period is scheduled to be completed withen 24 months. |
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* Application for allotment of apartment should be made on the prescribed application from duely signed by the applicant along with the earnest money. ( Cheque / Pay order / DD) The company reserve the right to accept or reject any application without assigning any reason there to. |
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* On acceptance of application, the company will issue an allotment letter to the applicant on the recipt of which the applicant / allottee shall making payment as per schedule of payment stated in the allotment letter, allotment of the apartments are made first come first serve basis. |
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* Imperial development technology and the allottee will rwquire to execute an agreement for safeguarding the interest of the allottee as well as the company. |
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* Payment of earnest money, installments, car park costs, additional works and other charges payble shall be made by pay order / Demand draft in favour of the company against which recipt will be issued by the proper authority Bangladesh's residing abroad may remit the payments in foreign exchange by TT or DD. |
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* Payments of installments and other charges are to be made on due dates. The company may issue remainders to the allottee but not withstandind the issue of reminders, the allottee must adhere to the schedule of payment to ensure in time completion of construction. |
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* Delay in payments beyond the due date will make the allottee liable to pay delay charge of 2.5% per month on the amount of payment delayed. If the payment is delayed beyond 60 days , the company shall have the right to cancle the allotments without notice to the allottee. In such event the amount paid by the allottee will be refunded after deducting TK. 50,000 /00 ( Fifty thousand ) as penalty. |
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* Connection fee / charges , security deposits and other incidental expenses relating to electricity / gas / water and sewerage / telephone are not included in the price of the apartments. These payments will be made by the company directly to the concerned authorites on the allottee's account the allottee will be billed proportionately on actual cost basis as per agreements. |
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* Limited charge in the specifications, size of the apartments and other facilities may be made by the company in greater and ovarall interest or due to unavoidable circumstances. |
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* The prossession of each apartment shall be duely handed over to the allotee on completion and on full payment of installments and other charges and dues. up till then the possession will be held by the imperial authority. |
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* The allottee will pay the transfer fees, stamp duties, registration fees, documentation charges,vat and other miscellanous taxes and expenses to be incurred in connection with the deed of agrement of allotment, or transfer of land. |
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Upon registrtion the apartment owner , irrespective of the floor becomes the proportionate owner of the land on which the building is to be constructed. long term finance from financial &leasing companies may be arrange for the interested purchaser. total arrangement & agreement will be between financier & the flat owner. The company (IDT) shall have legal indemnity regarding this financial arrangement. Company will extend their Co-operation for Documantation and legal formalities. After having possession of the apartment the allottee must consult with the company prior to undertake any structural or lay out changes with in the apartment complex owners Cooperative. |
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* The completion period may be affected by unvoidable cirmstances beyond the control of the company, like force major, natural calamities, political disturbance, act of gog, strike and change in the fiscal policy of the state etc. |
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* After handing over the apartment to the allottee, the company will mantain any electrical, sanitary connection, gas connection and other utility connection for one year. |
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* If, for any reason beyond the control of imperial development technology the implemantetion of aristocracy is abandaned IDT will refund to the allottee the earnest money and all installment deposited with in (ninety) days from the announcement made to this effect. |
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* After handing over the apartments to the allottee by the company, a co-operative society will be formed all the apartments owner will be the member of the society by contributing the reserve funds. |
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* the owners cooperative society will manage the common facilities of the apartment and all the common interests of the apartment owners. |
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* Water bill will be and to be divided by the number of the apartment and to be manage by the cooperative housing society. |
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* Common electrical consumption and telephone bills through PABX will be paid by flat owners as per actual and to be manage by the society. |
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* Gas and electricity consumption will be paid by respective flat owners as per individuel mater. Cable connection will be provided from the prefixed best available operator at actual cost to be borne by the society. |
