Terms & Conditions – ARFA HOLDINGS LIMITED

Application for allotment of apartments should be made on the prescribed application form duly signed by the applicant. Allotment shall be made on first come- first serve basis on receipt of the booking money as per application.
Buyers willing to make onetime payment will be given preference and attractive discount will be allowed to them except on the booking money, cost of parking space and utility costs.
Until the full payment of the installments, the buyers shall not have the right to transfer the allotment to third party without the concern of the company.
The possession of the apartment and parking space will be handed over on receipt of full payment and on completion of all works as per time schedule of the company.
In case of any cancellation of booking/ allotment of an apartment the builder/developer may forfeit the booking money and also 10% of the deposited amount as service charge/incidental expenses & the remaining payable amount will be refunded after two years by installments from the date of surrender of that apartment.
The company preserves the right to accept or reject application for an allotment of apartment. The company may make minor changes in design and specifications of the premises project which become necessary. That the optional choice of the Allottee may be accommodated by the builder depending on the progress of work and availability of materials in the market. Payments are to be made in advance for the additional work(s) to be undertaken. However, the entire dues amount will be paid before tiles work start.
The buyer shall bear all costs relating to cost of stamps, registration fees, and relates legal fees etc. the company will make necessary arrangement for all such formalities.
Utility connection fees, solar panel setup cost, flat owner’s co-operative society fees and other incidental charges and costs relating to Gas, Water, Sewerage, Power connection etc. are not including the price of the apartment. The company will make that payment directly to the concerned authorities on allottee’s account. The allottee shall have to pay those charges flat wise on actual cost basis before taking possession of the apartment.
All payments are to be made by A/C payee cheque / Bank Draft/ pay order etc. in favor of “ARFA HOLDINGS LIMITED”. The buyer must strictly adhere to the schedule of the payment to ensure timely completion of the construction work. Any delay in payment will make the Allottee liable to pay a delay charge monthly Tk. 5% (Five) on that due amount against installment delayed. If payments are delayed for 2 (Two) consecutive times, the builder/developer may exercise the right of cancellation of the allotment with serving a 45 (Forty Five) days notice and may forfeit the 10% of the agreed cost. In case of cancellation of allotment for the said default in payment, the builder/developer may forfeit the booking money and also 10% of the deposited amount as service charge/incidental expenses & the remaining payable amount will be refunded after two years by installments from the date of surrender of that apartment.
The buyer must become the member of the owner’s cooperative society which will be so formed by the buyers of the apartments and duty registered for the management of the common services such as pumps, lift (or lifts), electrical generator (if any), and Annual maintenance of the building etc. Each buyer of the apartment will deposit TK 25,000.00/- (Tk. Twenty five thousand) only for one time deposit. The monthly utility services expenses will be borne by the owners as per requirement, which will be decided by the company until formation of owner’s co-operative society and after formation of flat owner’s association that will be decided by the association/ cooperative society.
The project completion duration is so fixed, however, be extendable at the option of the Builder if this becomes necessary on account of non-availability, unusual price fluctuation of the required building materials and components, act of God, natural calamity, strike, civil commotion or for reasons beyond the control of the Builder.