Application for allotment of apartments in Project should be on the prescribed application form, duly signed by the applicant along with the earnest money and other necessary documents. Allotment will be made on “first come first serve basis”. The company reserves the right to accept or reject any application without assigning any reason thereto.
After receipt of the application and booking money, ARFA HOLDINGS LIMITED will issue an allotment letter and payment schedule. The applicant/ allottee shall then start making payments as per the schedule of payment.
Until full payment of all installment and other charges & registration; the buyer shall not have the right to transfer the allotment to a third party. In case of transfer before registration, buyer must pay 9% money of the total property value to the developer.
All payment of booking money, installments, additional works and other charges should be made by A/C payee cheque or pay order or bank draft or cash in favour of ARFA HOLDINGS LIMITED Foreigners and Non-Resident Bangladeshi may make payment in foreign exchange by TT or DD as per exchange rate issued by Bangladesh Bank as on the date of application and subsequently on the dates of the installments paid.
That the SECOND PARTY must strictly adhere to the schedule of payments indicated in this allotment agreement. Delay in payments beyond the schedule date will make allottee liable to pay a delay charges of 5% per month interest on the amount of payment delayed. If the payment is delayed for 30 days, the company shall have the right to cancel the allotment. In such case the amount paid by the allottee will be refunded after deducting 5% of the total sales price only after resale of the apartment.
If the allottee desire a Housing Loan, the company will do all that is possible to help secure the loan.
The allottee will pay stamp duties, VAT, registration fee, gain tax, share transfer fee, documentation charges and other miscellaneous expenses likely to be incurred in connection with the deed of agreement, allotment, registration and transfer etc.
The company reserves the right to make changes in both architectural and structural design of the project.
The possession of the apartment will be handed over to the purchaser after completion of the apartment and after full payment of the installment and other charges. Until and unless the dues are paid, possession of the apartment will be held by the company.
During the construction work, all allottee must consult with ARFA HOLDINGS LIMITED about any changes of both architectural & structural within the Apartment. Otherwise the developer will not be liable for any risk/damage due to lack of previous notice.
The purchaser must undertake to become a member of the owner’s association, which will be formed by the developer with the view of maintaining the general affairs of the complex interest. For reserve fund, each apartment owner may have to deposit an amount of money as per association decision.
All works of interior decoration, such as wooden paneling, kitchen/ wall cabinet making etc. can be done only after formally taking over the possession of the flat by its owner/owners. ARFA HOLDINGS LIMITED will not bear any responsibility for any damage to the flat caused due to execution of any work undertaken by the owners.
Client will not enforce any change in building elevation. Upgradation of different finishing material will be done on the basis of additional payment.
Other financial terms and conditions will be followed according to Company rules.
