GENERAL TERMS & CONDITIONS OF SALES.
After receipt of the application and earnest money, AL-AKSHA DEVELOPERS (PVT.) LTD. will issue an allotment letter and execute a bi-lateral contract mentioning payment schedule and detail terms & condition which will be a legal binding for both the Developer & the Allottee. The applicant /allottee shall then start making payments as per the payment schedule of the Contract.
All payments of earnest money, installments, additional works and other charges shall be made by cross-cheque in favor of Al-Aksha Developers (Pvt.) Ltd. against which proper receipt will be issued.
Schedule of Payment:
The allottee must adhere to the payment schedule indicated in the allotment letter/contract. Delay in payment beyond the schedule date will make the allottee liable to pay a delay charge of 10% per month on the amount of delayed payment. If the payment is delayed beyond 3 months, the Al-Aksha Developers (Pvt.) Ltd. shall have the right to cancel the allotment/ contract. In such case, the amount paid by the allottee will be refunded after resale of the said apartment and also deducting the earnest money.
Should the allottee desire to avail a Bank Loan, the Al-Aksha Developers (Pvt.) Ltd. will do all that is possible to help secure the loan to the allottee from any schedule bank of Bangladesh.
Documentation, VAT & other charges:
The allottee will have to pay stamp duties, registration fee, documentation charges and other miscellaneous expenses likely to be incurred in connection with the Deed of Agreement, allotment, transfer etc. Only the actual sums shall be charged.
The possession of each Apartment and parking space shall be handed over to the allottee after the full & final payment of installments, other charges and dues. Prior to this, the possession of Apartment will be with the Al-Aksha Developers (Pvt.) Ltd.
Until full payment of all installments and other charges, the Allottee will not have the right to transfer the allotment to a Third Party.
For any reason beyond the control of anybody i.e.,Acts of God or otherwise and for which if the Al-Aksha Developers (Pvt.) Ltd. is compelled to abandon the Project, then the Allottee shall be refunded his all deposited money. In such situation, the Allottee will not be entitled to claim any kind of the compensation or interest on the money deposited.
Owners’ Co-operative Society:
All Allottee / Buyers of Apartment will become member of the Owners’ Co-operative Society. All common facilities will be managed by the said Co-operative Society and all members shall abide by the rules farmed by the Co-operative Society. All Members must pay/deposit their monthly fee to the Co-operative Society Fund as decided by the Society.