1|P age AGREEMENT FOR SALE This Agreement for Sale(“Agreement”) executed on this______ day of JULY 2017 [If the promoter is a Partnership firm] PROMOTER PALM REALTY, a partnership firm registered under the Indian partnership Act, 1932, having its principal place of business at Gut no.4, Mustafabad, Beed By Pass Aurangabad. (PAN AAPFP5864J), represented by its aurthorised Partner Mr. Ravinder Singh Jaswant Singh Johar (Aadhar No-280780028848) Mr. Ravinder Singh Khushbir Singh Bindra (Aadhar No- 412687843574 ) Gangamai Heights Pvt. Ltd Through its Managing Director Shri Ranjeet Padmakar Mulay (PAN No- AAFCG3723N) authorised vide AU000002410 , hereinafter referred to as the “Promoter” (which excpression shall unless repugnant to the context or meaning thereof be deemed to mean and include its successors-in-interest, executors, administrators and permitted assignees, including those of the respective partners). LAND OWNER M/S VYANKATESH REALTORS Through its Partner Mr.Nagin Bhagchand Sanghavi A Registered Partnership Firm having its registered office At 126 Mittal Tower Nariman Point Mumbai-400021 Pan no.AAFLV4890J AND [If the Allottee is a company] DRAFT AGREEMENT FOR SALE _____________________, (CIN no._______________) a company incorporated under the provisions of the Companies Act, [1956 or 2013, as the case may be], having its registered office at ___________________________, (PAN ____________________), represented by its authorised signatory, _______________________, (Aadhar no.___________________) duly authorised vide board resolution dated _________________, hereinafter referred to as the “Allottee” (which expression shall unless repugnant to the context or meaning thereof be deemed to mean and include its successor-in-interest, executors, administrators and permitted assignees). [OR] [If the Allottee is an Individual] Mr. /Ms. ____________________, (Aadhar no. ________________________) son/daughter of ______________, aged about ___________, residing at __________________________________, (PAN ____________________), hereinafter called the “Allottee” (which expression shall unless repugnant to the context or meaning thereof be deemed to mean and include his/her heirs, executors, administrators, successors-in-interest and permitted assignees). The Promoter and Allottee shall hereinafter collectively be referred to as the “Parties” and Individually as “Party”. WHEREAS:- 2|P age A. WHEREAS The Owner has executed Development Agreement dated 29/12/2015 in Favor of Builder/Promoter /,i.e. Palm Realty for the development of said property Registerd at day book no.8715/2015 in the office Sub Registrar, Aurangabad. Phase-1 admeasuring 6043.41sq.mtrs. or thereabouts more particularly described in the Schedule-I therein as well. 1. The Owner/ has obtained Non-Agriculture Use permission from the Collector Vide Order bearing No. 168/1992 dated 23/07/1992 and the owner / Consenting Party has obtained construction permission from the Municipal Council of Satara-Deolai, vide Commencement Certificate No. 691/2015 in respect of said property which is more particularly in PARA A above. The Copy of Building Permission is annexed herewith and collectively marked as Annexure C-1. The Owner/ Developer/ Builder reserves right to obtain further revised construction permission as may be deemed fit by it and in that case revised/amended declaration will be executed. 2. the Owner/ is the absolute owner and possessor of the Land adm. 6043.41Sq.Mt., forming part of Land Back side of MIT Campus Satara, Beed by pass Survey No/ GUT NO.: 53/P District Aurangabad within the Municipal Corporation limits of Aurangabad and within a development zone of Development plan of Aurangabad Municipal corporation, which is more particularly described in Para 4 below. 3. The Owner/ has purchased the said property described above, vide sale deed dated 14/09/2012 registered at day book Sr. No. 5079/2012 and sale deed dated 30/09/2014 registered at day book Sr. No. 7656/14, from Shashank Subhash Malkhare and Other 4. That In pursuance to said sale deeds, name of M/S VYANKATESH REALTORS, i.e., Owner is entered in the revenue record of Suvey No.53/P, Village Satara mutation entry no. 26230 & 29429 as owners and possessor. The said property is described below; Annexure “B” THE DESCRIPTION OF SCHEDULED PROPERTIES; All that piece and parcel of property Land adm. 6043.41 Sqm, forming part of Land Survey No. 53/P totally admeasuring 6043.41Sqm Are situated at Village Satara , Taluka and District Aurangabad, bounded as follows:- East : Land belonging to Mr. Mandakini Dongre West : Land of Mr. Malkhare North : Gut No-57/P South : 9Mtr. Wide Road 5. The Owner has executed Development Agreement dated 29/12/2015 in favour of Developer/ Builder/ Promoter, i.e., Palm Realty for the development of said property, registered at day book sr. no. 8715/2015 in the office of Sub-Registrar, Aurangabad. The Owner/ Consenting Party has entrusted the rights of development and construction of said property to Developer/ Builder/ Promoter as per terms of said development agreement and Developer/ Builder/ Promoter is authorized to carry out development work on the said properties and has right to sell and transfer the Flats/ apartments/ Row houses as per the terms and conditions mentioned in the said development Agreement. 3|P age 6. The Owner has obtained Non-Agriculture Use permission from the Collector Vide Order bearing No. 168/1992 dated 23/07/1992 and the owner / Consenting Party has obtained construction permission from the Municipal Council of Satara-Deolai, vide Commencement Certificate No. 691/2015 in respect of said property which is more particularly in PARA A above. The Owner/ Developer/ Builder reserves right to obtain further revised construction permission as may be deemed fit by it and in that case revised/amended declaration will be executed. AND WHEREAS the Promoter has executed an Deed of Declaration dated 22/04/2016 registered in the office of Sub-Registrar, Aurangabad at Day book Sr. No. 2625/2016 and in pursuance thereto, submitted the said properties to the provisions of Maharashtra Apartment Ownership Act, 1970 and the rules made there under. Further the promoter has executed Revised DOD at date 24/07/2017 in the office of Sub-Registrar, Aurangabad at Day book Sr. No. 4520-2017 mentioning the particulars of the premises of shops & flats- Carpet area (Carpet Area In sq.mts as per Govt. GR August 2008 & Carpet Area In sq.mts as per notification RERA June 2017), FSI Area, Terraces, Enclosed (E) balcony, Open (O) Balcony, Boxes, and percentage share in the common area floor-wise on prorata basis & percentage share in the total common area on prorata basis of the said ROYAL PALMS. AND WHEREAS the Promoters are entitled and enjoined upon to construct buildings on the project land in accordance with the recitals herein above; AND WHEREAS the Promoters has floated the ownership scheme on the said Land under the name and style of ROYAL PALMS comprising of various building consisting of residential units. Though the Promoter herein has right to develop the entire phase-I, the promoter has decided to carry out construction/development in phase and accordingly has identified/earmarked portion out of the project land as phase-I and is only subject matter of this agreement and the said project shall be known as’ ROYAL PALMS’ hereinafter referred as “Said Project” and admeasuring 6043.41 sqmtrs., or thereabouts more particularly described in Schedule-II and shown in Annexure____C2A_____; AND WHEREAS the promoter has completed all the legal formalities with respect to the right, title and interest in respect of the project land on which The said project is to be constructed. The Promoter herein alone has sole and exclusive right to sell the Apartments in the said project to be constructed by the Promoter on the project land and is fully competent to enter into agreement/s with the Allottee/s, lessee, mortgagee, of the Apartments and to receive the sale price in respect thereof. AND WHEREAS the Promoter has entered into a standard agreement with its Architects, viz M/S Manoj Kala & Associates (hereinafter referred to as “the Architect”), who are registered with the Council of Architecture, and the Promoter has appointed a structural engineer M/s Core Consultants for the preparation of the structural design and drawings of the said project/buildings, and the Promoter accepts the professional supervision of the Architect and structural engineer till the completion of the said project. AND WHEREAS the Promoter has proposed to construct on the project of 8 Building Namely as A-1,A-2,A-3,A-4.A-5,A-6,A-7, B Type having Parking + First Floor + Second Floor + Third Floor +Fourth Floor in different phases. AND WHEREAS the Allottee has offered to purchase an Apartment bearing number ______ on the ____ floor, (herein after referred to as the said “Apartment”) in the ________Type of the Building called “ROYAL PALMS” (herein after referred to as the said ”Building”) being constructed in the First phase of the said project, by the Promoter. AND WHEREAS The Allottee/s herein has demanded from the Promoter and the Promoter 4|P age has given inspection to the Allottee/s, of all the documents of title relating to the said project described in the Schedule-II hereunder written and aslo the plans, designs and specifications of the said building prepared by the Architect and of such other document as are specified under the Real Estate (Regulation and Development) Act, 2016 (hereinafter referred to as”The Said Act”) and rules and regulations made thereunder. After the Allottee/s enquiry, the Promoter herein has requested to the Allottee/s to carry out independent search by appointing his/her/their own attorney/advocate and to ask queries, he/she/they have regarding the marketable title and rights and authorities of the Promoter. The Allottee/s has/have/satisfied himself/herself/themselves inrespect of marketable title And rights and authorities of the Promoter herein. That the allottee has given his specific confirmation herein that the responsibility of title of the said land be on the Developer up and until the conveyance of the said building-phase/wing and the said land there under. AND WHEREAS the authenticated copies of Certificate of Title issued by the attorney at law or advocate of the Promoter, authenticated copies of Property card or extract of Village Forms VI and VII and XII or any other relevant revenue record showing the nature of the title of the Promoter to the project land on which the Apartments are to be constructed have been annexed hereto and marked as Annexure ‘A’ and ‘B’, respectively. AND WHEREAS the authenticated copies of the plans of the Layout of the said project as approved by the concerned Local Authority have been annexed hereto and marked as Annexure C1. AND WHEREAS the authenticated copies of the plans of the Layout of the said phase as proposed by the Promoter and acceding to which the construction of the buildings and open spaces are proposed be provided for on the said phase have been annexed hereto and marked as Annexure C2, AND WHEREAS the copy of the proposed layout plan and the proposed building/phase/wing plan showing future proposed development as disclosed by the developer in his registration before the RERA authority and further disclosures on the website as mandated by the developer have been annexed hereto and marked as Annexure C2A AND WHEREAS the clear block plan showing the project (phase/wing) which is intended to be constructed and to be sold and the said unit which is intended to be bought by the allotee is in this said project (phase/wing) which is clearly demarcated and marked and which is for the purposes of this agreement the project in which the unit stated that the allottee intends to purchase and the allottee shall have the right to claim the same for is marked as Annexure C3 AND WHEREAS the authenticated copies of the plans and specifications of the Apartment agreed to be purchased by the Allottee, as sanctioned and approved by the local authority have been annexed and marked as Annexure D. AND WHEREAS the Promoter has obtained some of the sanctions/approvals from the concerned local authority (s) to the plans, the specifications, elevations, sections and of the said building/s and shall obtain the balance approvals from various authorities from time to time, so as to obtain Building Completion Certificate or Occupancy Certificate of the said Building. AND WHEREAS while sanctioning the said plans concerned local authority and/or 5|P age Government has laid down certain terms, condition, stipulations and restrictions which are to be observed and performed by the Promoter while developing the project land and the said building and upon due observance and performance of which only the completion or occupancy certificate in respect of the said building/s/phase shall be granted by the concerned local authority. AND WHEREAS the Promoter has in compliance with rules, regulations and restrictions of the concerned local authority which are to be observed and performed by the Promoter while construction/developing the said project has accordingly commenced construction/development of the same. AND WHEREAS the allottee has agreed to purchase the said unit based on going through all the conditions stated in the sanctioned plans by respective competent authorities and have further confirmed that all such conditions shall be bound and abided by the allottee strictly. AND WHEREAS the allottee on confirmation of accepting all the conditions of sanctioned plans by competent authority, has further stated that if any conditions that have been imposed on the said project/building/phase/wing which are contrary to the prevalent laws/rules/regulations under which sanctioned plans have been given shall not be binding on the allottee And that the allottee shall not hold the developer responsible for the such contrary conditions. AND WHEREAS the allottee has independently made himself aware about the specifications provided by the promoter and he is aware of the limitations, usage policies and maintenance of the installed items, fixtures and fittings of the same and have been annexed and marked as Annexure G. AND WHEREAS the allotteehs been shown the conditions of contracts with the vendors/contractors/manufacturers And workmanship and quality stands of products/fittings and fixtures as greed between promoter and the vendors and on independently verifying the same the allottee has now agreed to the same as conditions mentioned in these contracts and that the allottee agrees to abide by the same failure of which shall absolve the promoter to that extent. AND WHEREAS, the Promoter has registered the said project under the provisions of the Real Estate (Regulation & Redevelopment)Act,2016 with the Real Estate Regulatory Authority at ………………….On ……………………..under registration no ………………………..have been annexed and marked as Annexure F. AND WHEREAS the Allottee has applied for apartment in the said project vide application no. _______dated_________ for apartment no. ____________having carpet area of _____________ square metresi.e___________squarefeet,type ___________, and balcony area admeasuring ____________ square metresi.e __________square feet on _________ floor in [tower/block/building] no. __________(“Building”) being constucted in the phase 1 of the said project along with closed parking and pro-rata share in the common areas (“Common Areas”) as defined under clause (n) of Section 2 of the Act (hereinafter referred to as the said Apartment” and further equal undivided share on Pro- Rata Basis in limited common areas and facilities both of which are more particularly described in Schedule III and the floor plan of the apartment is annexed hereto and marked as Annexure E); AND WHEREAS relying upon the aforesaid application, the Promoter has agreed to allot and sell to the Purchaser/s, the said apartment at the price and on the terms, conditions, covenants, stipulations and provisions hereinafter appearing. 6|P age AND WHEREAS the carpet area of the said Apartment is _____________ square meters and “carpet area” means the net usable floor area of an apartment, excluding the area covered by the external walls, areas under services shafts, exclusive balcony appurtenant to the said Apartment for exclusive use of the Allottee or verandah area and exclusive open terrace area appurtenant to the said Apartment for exclusive use of the Allottee, but includes the area covered by the internal partition walls of the apartment. AND WHEREAS, the Allottee/s prior to execution of these presents has paid to the Promoter a sum of Rs ________(Rupees ____________) only, being part payment of the sale price of the Apartment agreed to be sold by the Promoter to the Allottee/s as advance payment or deposit (the payment and receipt whereof the Promoter both hereby admit and acknowledge) and the Allottee/has agreed to pay the remaining price of the Apartment as prescribed in the payment plan as may be demanded by the Promoter within the time and the manner specified therein. AND WHEREAS the parties have gone through all the terms and conditions set out in this Agreement and understood the mutual rights and obligations detailed herein; The Parties hereby confirm that they are signing this Agreement with full knowledge of all the laws, rules, regulations, notifications, etc applicable to the said project. AND WHEREAS Subject to otherwise agreed, reserved and provided herein, the Promoter has agreed to sell and the Alloteee/s hereby agrees to purchase the Apartment and the garage/closed parking (if any) as specified in para __________ AND WHEREAS the Promoter in compliance of section 13(1) of the Real Estate (Regulation and Development) Act, 2016 is required to execute a written Agreement for sale of the said Apartment in favour of the Allottee/s, being in fact these presents and also to register said Agreement for sale under the Registration Act, 1908, the parties hereto are desirous to reduce in writing all the terms and conditions of this transaction and hence this presents. Notwithstanding anything stated in any other document/allotment/letter given or communicated with the allotee any time prior, this agreement shall be considered as the only document and its condition shall be read as the only condition valid and basis for which the said unit is agreed to be sold to the allottee. AND WHEREAS This agreement shall remain in force and shall not merge into any other agreement save and except the conveyance deed as stated herein below. AND WHEREAS This agreement does not preclude, diminish the rights of any financial institutions, fund, registered money lender for which finance has been taken for the project and the same can be claimed by them under the statutory claims and that this does not in any way affect the right of the allotted in respect of his unit in the said project. AND WHEREAS the Parties, relying on the confirmations, representations and assurances of each other to faithfully abide by all the terms, conditions and stipulations contained in this Agreement and all applicable laws, are now willing to enter into this Agreement on the terms and conditions appearing hereinafter; And that the allottee has not given any third party any rights to enforce this said agreement unless the said unit is transferred to the them. NOW THEREFORE, THIS AGREEMENT WITNESSTH AND IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS:- 1. CONSTRUCTION OF THE PROJECT/APARTMENT:- 7|P age The Promoter shall construct the said building/s consisting of Having 4 Building Namely as A-1,A-2,A-3,A-4 having Parking + First Floor + Second Floor + Third Floor +Fourth Floor on the project land in accordance with the plans, designs and specifications as approved by the concerned local authority from time to time. Provided that the Promoter shall have to obtain prior consent in writing of the allotee in respect of variations or modification which which may adversely affect the apartment of the Allotee except any alteration or addition required by any Local /Government Authorities etc. or due to change in law. 2. CONSIDERATION/PRICE OF THE SAID APARTMENT :- 2.1 The Allottee hereby agrees to purchase from the Promoter and the Promoter hereby agrees to sell to the Allottee Apartment No. ……………..of the type……………… of carpet area admeasuring………………….sq. metres on……………floor in the building____________/wing (hereinafter referred to as “the Apartment”) as shown in the Floor plan thereof hereto annexed and marked Annexures ___D______and_______E_________ for the consideration of Rs. ……………..including Club House , MSEB , Legal Charges Rs. ……………………………..being the proportionate price of the common areas and facilities appurtenant to the premises, the nature, extent and description of the limited common areas and facilities which are more particularly described in the Second Schedule annexed herewith. 2.2 The total aggregate consideration amount for the apartment including garages/covered parking spaces is thus Rs.________/- 2.3 The Allottee/s agrees and understands that timely payment towards purchase of the said Apartment as per payment plan/schedule hereto is the essence of the Agreement. The Allottee has paid on or before execution of this agreement a sum of Rs____________(Rupees ___________________________Only) as advance payment or application fee and hereby agrees to pay to that Promoter the balance amount of Rs………………………(Rupees……………………………………) in the following manner:- i. Amount of Rs………../-(…………) to be paid to the Promoter after execution of Agreement. ii. Amount of Rs……../-(……………….) to be paid to the Promoter on completion of the plinth of the building or wing in which the said Aparment is located. iii. Amount of Rs……../-(……………….) to be paid to the Promoter on completion of the slabs including podiums and stilts of the building or wing in which the said Apartment is located. iv. Amount of Rs……../-(……………….) to be paid to the Promoter on completion of the wall, internal plaster, of the said Apartment. v. Amount of Rs……../-(……………….) to be paid to the Promoter on completion of the staircase, lift wells, lobbies upto the floor level of the said Apartment. vi. Amount of Rs……../-(……………….) to be paid to the Promoter on completion of the external plumbing and external plaster, elevation, terraces with waterproofing, of the building or wing in which the said Apartment is located. vii. Amount of Rs……../-(……………….) to be paid to the Promoter on completion of the lifts, water pumps, electrical fitting, electro, mechanical and environment requirements, entrance lobby/s, paving of areas appertain and all other requirements as may be prescribed in the Agreement of sale of the building or wing in which the said Apartment is located. 8|P age viii. Balance Amount of Rs……../-(……………….) against and at the time of handing over of the possession of the Apartment to the Allottee on or after receipt of occupancy certificate or completion certificate. including :- A) Club House Charges - Rs. 50,000/- Payable before possession B) MSEB Charges - Rs. 35,000/- At the time of installation of meter C) Legal Charges - Rs. 15,000/- at the time of Executing Agreement of Sale D) Society Deposit - Rs. 50,000/- At the time of possession The price overall has been arrived and agreed upon keeping in mind the promise of the purchaser to make the payments as mentioned above irrespective of the existing work progress and proposed stage of construction. The Total Price above excludes Taxes (consisting of tax paid or payable by the Promoter by way of Value Added Tax, Service Tax, Cess, GST, LBT or any other similar taxes which may be levied, in connection with the construction of and carrying out the said Project payable by the Promoter up to the date of handing over the possession of the Apartment. 2.4 The Total Price is escalation-free, save and except increases which the Allottee hereby agrees to pay, due to increase on account of development charges payable to the competent authority and/or any other increase in charges which may be levied or imposed by the competent authority from time to time. The Promoter undertakes and agrees that while raising a demand on the Allottee for increase in development charges, cost/charges imposed by the competent authorities, the Promoter shall enclose the said notification/order/rule/regulation to that effect along with the demand letter being issued to the Allottee, which shall only be applicable on subsequent payment. The promoter may charge the allottee separately for any upgradation/changes specifically requested or approved by the allottee in fittings, fixtures and specifications and any other facility which have been done on the allottees request or approval but which have not been agreed upon herein or as shown in the website of the registered authority. 2.5 The Promoter herein on due date/or on reaching aforesaid construction milestone/stage shall intimate the amount payable as stated above in writing or by digital E-mail to the Allottee and the Allottee shall make payment of such due amount to the Promoter within seven days from date of receiving such intimation. The Allottee herein specifically agrees that he/she/they shall pay the aforesaid amount along with the service tax, VAT, GST and such other taxes, cesses, charges etc. without any delay along with each instalment. Payment of any installments if made in advance shall be adjusted to the next installments as mentioned above, No interest shall be paid by the Promoter for such advance payments made by the Allotteee or by housing finance companies/bank etc on behalf of Allottee(Please insert the said clause subject to discretion of the Promoter and as per contractual understanding between the parties) 3. MODE OF PAYMENT:- Subject to the terms of the Agreement and the Promoter abiding by the construction milestones (not valid in special cases where specific dates are mentioned), the Allottee shall make all payments, on demand by the Promoter, within the stipulated time as mentioned in the Payment Plan through A/c Payee cheque/demand draft or online payment 9|P age (as applicable) in favour of ‘ ROYAL PALMS’ paybale at Aurangabad. (Please insert additional mode of payment as may be required by the individual cases) 4. ADJUSTMENT/APPROPRIATION OF PAYMENTS:- The Allottee/s authorises the Promoter to adjust/appropriate all payment made by him/her/them under any head(s) of dues against lawful outstanding, if any, in his/her/their name as the Promoter may in its sole discretion deem fit and the Allottee undertakes not to object/demand/direct the Promoter to adjust his payments in any manner. 5. INTEREST ON UNPAID DUE AMOUNT :- Without prejudice to the right of the Promoter to take action for breach arising out of delay in payment of the installments on the due dates, the Allottee/s shall be bound and liable to pay interest as per State Bank of India highest Marginal Cost of Lending Rate plus 2% per annum, with monthly rests, on all the amounts which become due and payable by the Allottee/s to the Promoter till the date of actual payment, provided that tender of the principal amounts and interest or tender of the interest and expenses thereof shall not itself be considered as waiver of the right of the Promoter under this Agreement, nor shall it be construed as condo nation of delay by the Promoter. The amount of interest may be informed to the allottee/s from time to time or on completion of the said project/apartment, and the allottee/s has/have agreed to pay the same as and when demanded before the possession of the said apartment. 6. OBSERVATION OF CONDITIONS IMPOSED BY LOCAL/PLANNING AUTHORITY:- The Promoter hereby agrees to observe, perform and comply with all the terms, conditions, stipulations and restrictions if any, which any have been imposed by the concerned local authority, state and or Central Government including Environment department at the time of sanctioning the plans or any time thereafter or at the time of granting Completion Certificate or anytime thereafter. The Promoter shall before handling over possession of the said apartment to the Allottee/s herein, obtain from the concerned planning/local authority/development controlling authority occupation and/ or completion certificate in respect of the said apartment. Notwithstanding anything to the contrary contained herein, the Alloteee shall not be entitled to claim possession of the said apartment until the completion certificate is received from the local authority and the allottee has paid all dues payable under this agreement in respect of the said apartment to the Promoter and has paid the necessary maintenance amount/deposit, service tax, vat and other taxes payable under this agreement of the said apartment to the Promoter. Howsoever for the purpose of defect liability on towards the developer, the date shall be calculated from the date of handing over possession to the allottee for fit outs and interior works and that the said liability shall be those responsibilities which are not covered under maintenance of the said unit/building/phase/wing as stated in the said agreement. That further it has been agreed by the allottee that any damage or change done within the unit sold or in the building/phase/wing done by him/them or by any third person on and behalf of the allottee then the allottee expressly absolves the developer from the same liability and specifically consents that on such act done, he shall waive his right to enforce the defect liability on and towards the developer. 7. DISCLOSURE AS TO FLOOR SPACE INDEX :- 10 | P a g e The Promoter hereby declares that the Floor Space Index available as on date in respect of the project land is ………………………square meters only and Promoter has planned to utilize Floor Space Index available as on date in respect of the project land is ………………………square meters only and Promoter has planned to utilize Floor Space Index of ___________ by availing of TDR or FSI by implementing various scheme as mentioned in the Development Control Regulation or based on expectation of increased FSI which may be available in future on modification to Development Control Regulations, which are applicable to the said Project. The Promoter has disclosed the Floor Space Index of___________ as proposed to be utilized by him on the project land in the said Project and Allottee has agreed to purchase the said Apartment based on the proposed construction and sale of apartments to be carried out by the Promoter by utilizing the proposed FSI and on the understanding that the declared proposed FSI shall belong to Promoter only. The promoter intends to make changes in the existing building structure apartment type & size of the existing phase 1as per market requirement and to utilize maximum available FSI and future available FSI ,FSI available on payment of premium or incentive FSI (by implementing various scheme as mentioned in the development control Regulation ) ,and FSI, Purchased through TDR the promoter proposes to built 4 building of 4 floors in the current phase 1 and might make changes in apartment type, size structure of the building as per market requirement and in order to utilize usable FSI The promoter also intends to built 4 more building tower in future of approximately 11to 14 floors each in the present land area of the project, this additional building towers will be constructed in different phases in future by the promoter after taking necessary permission from competent authority in order to utilize maximum FSI available from the present project by using additional FSI, FSI available on payment of premium or incentive FSI (by implementing various scheme as mentioned in the development control Regulation ) ,and paid FSI as when available. remaining proposed FSI as mentioned above shall belong to the promoter only for utilizing on remaining project in entire land. Above details has been explain and understood by the allotee and he is willing to purchase apartment after been shown and explained the details of current phase and also future proposed buildings in different phases. The promoter also has informed the allotee that the sanctioned 1 Bhk & 1 bhk terrace flats would be changed to the 2 bhk on the 3rd &4th floor as per promoter wish, market demand & requirement, for which allotee has no objection. 7.1 The ________________Project Land is________sq.mtrs. (out of entire land of S.NO.____of _____Hector ___Are). The building to be constructed is Ground Floor Parking plus 4 floor on the land of ____________Project.the promoter hereby declares that the Floor space index (including TDR ) available as on date in respect of the entire land is________squre meter.The promoter has disclosed the floor space index of 1.4 may be utilized by him on ____________project. The said Floor Space index (including TDR) of _____square meters. Does not include FSI available on payment of premiums or incentive FSI(by implementing various scheme as mentioned in the Development Control Regulation ),and paid FSI. So it is hereby made clear that the promoter shall have the right to use this remaining FSI,of entire land , of ________Squre meters along with FSI available on payment of premium or incentive FSI (by implementing various schemes as mentioned in the Development Control Regulation), and paid FSI ,or based expectation of increased FSI,which may be available in future on remaining project/s of entire land. 11 | P a g e The allotee has no concern for the remaining project and has agreed to the same, and also agrees that, has purchased the said Apartment in the ROYAL PALMS project based on proposed construction and sale of apartments to be carried out by the promoter by utilizing the proposed FSI for __________project as mentioned above and on the understanding that the declared and remaining proposed FSI as mentioned above ROYAL PALM shall belong to the promoter only for utilizing on remaining project in entire land. As per sanctioned building plan wide CC number ______dated________the potential sanctioned Floor space index is________out of total floor space index (including TDR ___)and remaining floor space index______will be available to promoter in future. It is hereby declared that as per sanctioned plan/s of date ________(Number --------), at present the sanctioned Floor Space Index is 1.4 from which ______is utilized on ROYAL PALM project land,which has/have been shown to the Allotee/s. 7.2 The promoter shall have right to utilizing entire existing infrastructure and facilities provided in the said _____________project for the construction work of remaining building in different phases and completion of other works like laying of drainage line, water line,or electrical line etc. of the other project/s in the layout and the promoter shall have a right of access through side margins,roads.etc.the allotees/s is aware of this and has agreed to and given his/their irrevocable consent for the same. The allotee shall not obstruct in any manner activities of Promoter. 7.3 The allotee is concerned with this ROYAL PALMS project only. This project will have a separate Association of apartment owners which will be formed as mentioned in Act and rules and regulation and also Maharashtra Apartment of Ownership Act 1970 and each such Association will maintain its own project. the promoter is entitled and also has right to plan and execute project/s on remaining FSI of entire land at its discretion by utilizing of FSI,TDR etc. the allotees have absolutely no right overit, the allotees are only concerned with his unit/apartment in ROYAL PALMS project only. 7.4 There shall be common facilities in the entire project and the same is described in the schedule E hereunder written.Each allotee of project in the entire land will have proportionate undivided share in the common facilities and the respective land. 7.5 As stated above for the purpose of organizing maintainace of the common facilities with their respective land commom among all projects which include, transformers,common water tank,OWC and,etc. an apex body/federation/private trust/any other legal entity will be formed by the promoter as settled wherein all allotees or their association will be beneficiaries and thus each association will have adequate/proportionate /representation in the said apex body /federation/private trust/any other legal entity. the said apex body /federation/private trust/any other legal entity will be in-charge of the said common facilities and their respective land common amongst theme. The terms of the deeds and its rules and regulation shall be decided by the promoter herein. 8. DISCLOSURE AND INVESTIGATION OF MARKET ABLE TITLE:- The Promoter has made full and true disclosure of the title of the said land as well as encumbrances, if any, known to the Promoter in the title report of the advocate. The Promoter has also disclosed to the Allottee/s nature of its right, title and interest or right to construct building/s, and also given inspection of all documents to the Allottee/s. as required by the law. The allottee/s having acquainted himself/herself/themselves with all facts and right of the 12 | P a g e Promoter an after satisfaction of the dame has entered into this Agreement. 9. SPECIFICATINS AND AMENITIES:- The specifications and amenities of the apartment to be provided by the Promoter in the said project and the said apartment are those that are set out in Schedule IV hereto. Common amenities for the project on the said land are stated in the Schedule V annexed hereto. In the project multi storied high rise buildings/wings are under construction and considering to maintain the stability of the buildings/wings and internal structures, herein specifically informed by its consultant not to allow any internal changes. As per our policy there shall be no customization permitted inside the said apartment. Changes such as civil, electrical, plumbing etc. shall not be allowed during construction and till delivery of possession. 10. COMPLIANCE OF LAWS RELATING TO REMITTANCES 10.1. The Allottee, if resident outside India, shall be solely responsible for complying with the necessary formalities as laid down in Foreign Exchange Management Act, 1999, Reserve Bank of India Act and Rules and Regulations made thereunder or any statutory amendment(s), modification(s) made thereof and all other applicable laws including that of remittance of payment acquisition/sale/transfer of immovable properties in India etc. and provide the Promoter with such permission, approvals which would enable the Promoter to full fill its obligations under this Agreement. Any refund, transfer of security, if provided in terms of the Agreement shall be made in accordance with the provisions of Foreign Exchange Management Act,1999 or statutory enactments or amendments thereof and the Rules and Regulations of the Reserve Bank of India or any other applicable law. The allottee understands and agrees that in the event of any failure on his /her part to comply with the applicable guidelines issued by the Reserve Bank of India, he/she shall be liable for any action under the Foreign Exchange Management Act, 1999 or other laws as applicable, as amended from time to time. 10.2. The Promoter accepts no responsibility in this regard. The Allottee shall keep the Promoter fully indemnified and harmless in this regard. Whenever there is any change in the residential status of the Allottee subsequent to the signing of this Agreement, it shall be the sole responsibility of the Allottee to intimate the same in writing to the Promoter immediately and comply with necessary formalities if any under the applicable laws. The Promoter shall not be responsible towards any third party making payment/remittances on behalf on any Allottee and such third party shall not have any right in the application/allotment of the said apartment applied for herein in any way and the Promoter shall be issuing the payment receipts in favour of the Allottee only. 11 POSSESSION ON THE APPARTMENT: 11.1 The Promoter herein shall complete the construction of the said apartment / unit / flat in all respects or before 31/03/2018 provided that purchase shall have made payments of the installments towards the purchase price of the said flat and other charges mentioned in the agreement without delay, at time stipulated for payments thereof. The developer may not complete some of the common amenities to be provided to all purchasers. All such remaining amenities if any shall be completed while completion of the total project. The Purchaser/ s shall not raise any dispute or litigation, complain, etc. regarding of common amenities or common areas etc. Even after occupying the flat, constructional activities, undertaker by the promoter on the said property/ land, shall remain in force or work-in- progress shall be remain continue, in respect of the said building and therefore he/she/they may have to face certain difficulties Viz. Material obstacles, Noise, Dusting etc. The purchasers shall co-operate with the promoter/developer and he/she/they shall not raise any objection / obstacles to the work in progress, as he/she/they is/are well aware of the facts, before occupying of taking possession of the said flat. It is agreed parties here to that if the promoter fails to give possession of the said flat, in accordance of period mentioned here in above, further 6 (six) month period shall be extended / allowed for completing the construction of said flat in all respect, Even than the promoter fails to give possession of 13 | P a g e the said flat to the purchaser in extended/allowed stipulated period of above , then the promoter will pay compensation to per month, which will be in according to prevailing market rent of said flat to the flat purchaser till the hand over o flat, except if such delay is due to the reasons beyond the control of the Developer. Provided however, that the promoter herein shall be entitled to the extension if time for completing the construction of the said Flat in all respects after the aforesaid date, if the completion of the building in which the Flat is to be situated is delayed on account of: i) The purchaser/s committing any defaults in payments of installment as mentioned hereinabove. ii) Any extra work to be carried out in the said Flat as per the requirement and at the cost of purchaser/s. iii) Non-availability of steel, coment or any other building materials, water or electricity supply, labor, proper acces, etc for any reason beyond the control of Promoter. iv) War, civil commotion or act of God such as floods, earthquake, heavy monsoon etc. v) Any notice, order, rules, or notification of the government and /or public or competent authority. vi) Delay in grant of any NOC/permissions/license/connections/installation of any services such as lifts, electricity, water connections and meters of the scheme FLAT, road NOC etc, or Occupancy (Completion) certificate from appropriate authority. vii) Death and/or permanently disability of key representative of the developer. 11.2. Schedule for possession of the Common amenities:- The Promoter herein is developing the said land which consists of various phases having common amenities like club house, landscape garden etc, the construction/development of the said common amenities will be completed in due course only after completion of construction of all the project phases on the said land. The Promoter, assures to hand over possession of the said common amenities on 01/06/2018,.The Allottee/s herein agrees and convey that he/she/they shall not be entitled to refuse to take the possession of the said apartment on the ground of non completion of aforesaid common amenities. That the allottees further agree that even where 'substantial completion' of works has been done and after receiving OC from the competent authority possession of the said unit shall be given. That substantial completion would mean works done that do not affect his use or occupation of his unit and he can cohabit in the said unit. However if the developer is not allowed by the allottee or any person on his behalf to complete the remaining portion of the works, it shall be accepted by and between the parties that the remaining works shall be deemed to have been done as and against the developer. 11.3. Procedure for taking possession:- The Promoter, upon obtaining the occupancy certificate from the local/competent/planning authority shall offer in writing to the Allottee/s intimating that, the said apartment is ready for use and occupation. The Allottee/s herein shall inspect the said apartment in all respects to confirm that the same is in accordance with the terms and conditions of this agreement, complete the payment of consideration/total price and dues to the Promoter as per terms and conditions of this agreement and take the possession of the said apartment within 15 days from the date of written intimation issued by the Promoter to the Allottee herein. The Promoter agrees and undertakes to 14 | P a g e indemnify the Allottee/s in case of failure of fulfilment 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 allottee/s, as the case may be. 11.4. It shall be expressly agreed that wherever it is the responsibility of the allottee to apply and get necessary services the same shall not be undertaken by the promoter and the allottee shall be solely responsible for the same. 11.4. Failure of Allottee to take Possession of [Apartment/Plot]: Upon receiving a written intimation from the Promoter as per clause 11.3, the Allottee/s shall take possession of the Apartment from the Promoter by executing necessary indemnities, undertakings and such other documentation as prescribed in this Agreement, and the Promoter shall give possession of the Apartment to the allottee. In case the Allottee fails or commits delay in taking possession of said Apartment within the time provided in clause 11.3, such Allottee shall be liable for payment of maintenance charges as applicable, property tax, electricity charges and any other expenses and outgoing in respect of the said apartment and the Promoter shall not be liable for the maintenance, wear and tear of the said apartment. Possession by the Allottee - After obtaining the occupancy certificate and handing over physical possession of the said Apartment to the Allottee/s, it shall be the responsibility of the Promoter to hand over the necessary documents and plans, including common areas, to the association of the Allottee/s or the competent authority, as the case may be, as per the local laws 11.5. Compensation -That the allottee has given his specific confirmation herein that the responsibility of title of the said land be on the Developer up and until the conveyance of the said building/phase/ wing and the said land thereunder. 11.8. Except for occurrence of the events stating herein above, if the promoter fails to complete or is unable to give possession of the Apartment (i) in accordance with the terms of this Agreement, duly completed by the date specified herein; or (ii) due to discontinuance of his business as a developer on account of suspension or revocation of the registration under the Act; or for any other reason; the Promoter shall be liable, on demand to the allottee/s, in case the Allottee wishes to withdraw from the Project, without prejudice to any other remedy available, to return the total amount received by him in respect of the Apartment, with the interest as per State Bank of India highest Marginal Cost of Lending Rate plus 2 % percent per annum within 30 days including compensation in the manner as provided under the Act. Provided that where if the Allottee does not intend to withdraw from the said Project, the Promoter shall pay the Allottee interest as per State Bank of India highest Marginal Cost of Lending Rate plus 2 % ,on all the amounts paid by the Allottee, for every month of delay, till the handing over of the possession of the Apartment. 12. TIME IS ESSENCE:- Time is essence for the Promoter as well as the Allottee. The Promoter shall abide by the time schedule for completing the project and handing over the [Apartment/Plot] to the Allottee and the common areas to the association of the allottees after receiving the occupancy certificate or the completion certificate or both, as the case may be. Similarly, the Allottee shall make timely. payments of the instalment and other dues payable by him/her and meeting the other obligations under the Agreement subject to the simultaneous completion of construction by the Promoter as per Payment Plan in clause 2.5 in this agreement or by Payment Plan set out in Schedule __ 15 | P a g e 13. TERMINATION OF AGREEMENT:- 13.1. Without prejudice to the right of promoter to charge interest as per terms of agreement, on the Allottee committing default in payment on due date of any amount due and payable by the Allottee to the Promoter under this Agreement (including his/her proportionate share of taxes levied by concerned local authority and other outgoings etc) and on the allottee committing three defaults of payment installments, the Promoter shall its sole option, terminate this Agreement: Provided that, Promoter shall give to the allotte 15 days notice in writing, by Registered Post AD at the address provided by the allottee and mail at the e-mail address provided by the Allottee, of his intention to terminate this Agreement and of the specific breach or breaches of terms and conditions in respect of which it is intended to terminate the Agreement. If the Allottee fails to rectify the breach or breaches mentioned by the Promoter within the period of notice then at the end of such notice period, promoter shall be entitled to terminate this Agreement. The agreement shall stand Terminated at the elapse of the notice period , if allottee fails to remedy the breach within the notice period. The Allotte will have the right only on amount have mentioned above and that also after deduction the amount payable as per the terms of agreement. Provided further that upon termination of this Agreement as aforesaid, the Promoter shall refund to the Allottee (subject to adjustment and recovery of liquidated damages or any other amount which may be payable to promoter) within the period of 30 days of the termination, the installments of the sale consideration of the apartment which may till then have been paid by the allottee to the promoter subject to following : 13.1 If the allottee has taken loan form any bank, financial companies, institutes etc. Then in case of termination cancellation of the apartment by the promoter, the consent from the said bank, financial companies, institutes etc. for resale of the said apartment will not be required subject to that the loan amount which has been disbursed from the financial company to the promoter directly shall be paid by the promoter (without any interest of penalty there on) to the bank, financial company, institute etc directly. The allottee shall make aware of this clause to the financial companies by separate letter. 13.2 The promoter shall deduct the amount towards damages administration charges, other expenses etc. equivalent to Rs. 5,00,000/- from an out of the amount so far the paid by the allottee to the promoter and the promoter shall be liable to repay only the balance amount (after deducting above amount) from the amount received by the promoter. In the case reduction in price of the apartment will also be considered as damages/ loss of the promoter in addition to loss and expenses. 13.3 In case of termination of this agreement for any reasons, taxes such as stamp duty, registration fees, LBC/ LBT, Service Tax, GST(CGST, SGST, IGST), VAT etc. already paid / Reimbursed or otherwise shall not be refunded by promoter to the allottee. 16 | P a g e 13.4 In case of cancellation of the apartment, the promoter shall not be responsible and not be liable for refund of stamp duly, registration fees, GST(CGST, SGST, IGST), or any charges paid to the government against this apartment. The allottee irrevocably agrees to the same. Except the aforsaid amount, the allottee will have no right on the said apartment, nor will he/she/they claim any right on the same in future also and allottee hereby agrees for the same. It is hereby made specifically clear that in the above event of termination, execution and registration of deed of cancellation will be necessary within 15 days and the same is agreed and consented by the allottee/s. however the promoter shall not be liable to repay the amount payable unless and until, the allotte confirms the termination by execution and registration of a Deed of Cancelation. The promoter at its option and discretion, without terminating the agreement shall be entitled for specific performance, thereof and to recover the amount due with interest thereon and in addition the promoter shall also be entitled to damage and losses suffered because of the delay in payment of the balance consideration. 14. DEFECT LIABILITY If within a period of five years from the date of handing over the Apartment to the Allottee, the Allottee brings to the notice of the Promoter any structural defect in the Apartment or the building in which the Apartment are situated or any defects on account of workmanship, quality or provision of service, then, wherever possible such defects shall be rectified by the Promoter at his own cost and in case it is not possible to rectify such defects, then the Allottee shall be entitled to receive from the Promoter, compensation for such defect in the manner as provided under the Act. Provided however, that the Allottee/s shall not carry out any alterations of the whatsoever nature in the said apartment of phase/ wing and in specific the structure of the said unit/ wing/ phase of the said building which shall include but not limit to columns, beams etc. or in the fittings therein, in particular it is hereby agreed that the Allottee/s shall not make any alterations in any of the fittings, pipes, water supply connections or any erection or alteration in the bathroom, toilet and kitchen, which may result in seepage of the water. If any of such works are carried out without the written consent of the Promoter the defect liability automatically shall become void. The word defect here means only the manufacturing and workmanship defect/s caused on account of wilful neglect on the part of the Promoter, and shall not mean defect/s caused by normal wear and tear and by negligent use of apartment by the Occupants, vagaries of nature etc. That it shall be the responsibility of the allottee to maintain his unit in a proper manner and take all due care needed including but not limiting to the joints in the tiles in his flat are regularly filled with white cement/epoxy to prevent water seepage. Further where the manufacturer warranty as shown by the developer to the allottee ends before the defects liability period and such warranties are covered under the maintenance of the said unit/building/phase/ wing, and if the annual maintenance contracts are not done/renewed by the allottee/s the promoter shall not be responsible for any defects occurring due to the same. That the project as a whole has been conceived, designed and constructed based on the commitments and warranties given by the vendors/ manufacturers that all equipment's, fixtures and fittings shall be maintained and covered by maintenance/warranty contracts so as it to be sustainable and in proper working condition to continue warranty in both the flats and the common project amenities wherever applicable. 17 | P a g e That the allottee has been made aware and that the allottee expressly agrees that the regular wear and tear of the unit/ building/ phase/ wing includes minor hairline cracks on the external and internal walls excluding the RCC structure which happens due to variation in temperature of more than 20*C and which do not amount to structural defects and hence cannot be attributed to either bad workmanship or structural defect. It is expressly agreed that before any liability of defect is claimed by or on behalf of the allottee, it shall be necessary to appoint an expert who shall be a nominated surveyor who shall survey and assess the same and shall then submit a report to state the defects in materials used, in the structure built of the unit/phase/ wing and in the workmanship executed keeping in mind the aforesaid agreed clauses of this agreement. Provided however, that it is agreed that the prescribed liability period under Act shall be deemed to have commenced after 2 month from the date of completion certificate. 15. FORMATION OF ORGANISATION OF APARTMENT HOLDERS: - 15.1. Considering the Promoter herein is carrying on the construction/development on the said land in phases as aforesaid and further to have the maintenance of building/s and common facilities more conveniently, there will be one or more association of allottees/Co-operative Societies and/or Apex Society and/or limited company or as such may be formed by prevailing local laws as may be applicable to the said project, which the Promoter shall decide as suitable for the apartment holders in the said project which is under construction on the said land. (Please note that the promoter shall mention specific/particular organisation which is intended/likely to be formed by the promoter in respect of the said project). 15.2 The Allottee along with other allottee(s)s of Apartments in the building shall join in forming and registering the Society or Association or a Limited Company to be known by such name as the Promoter may decide and for this purpose also from time to time sign and execute the application for registration and/or membership and the other papers and documents necessary for the formation and registration of the Society or Association or Limited Company and for becoming a member, including the bye-laws of the proposed Society and duly fill in, sign and return to the Promoter within seven days of the same being forwarded by the Promoter to the Allottee, so as to enable the Promoter to register the common organization of Allottee. No objection shall be taken by the Allottee if any, changes or modifications are made in the draft bye-laws, or the Memorandum and/or Articles of Association, as may be required by the Registrar of Co-operative Societies or the Registrar of Companies, as the case may be, or any other Competent Authority. 15.3 The Promoter shall, (mention date) of registration of the Society or Association or Limited Company, as aforesaid, cause to be transferred to the society or Limited Company all the right, title and the interest of the Vendor/Lessor/Original Owner/Promoter and/or the owners in the said structure of the Building or wing in which the said Apartment is situated. 15.4. The Promoter shall, (mention date) of registration of the Federation/apex body of the Societies or Limited Company, as aforesaid, cause to be transferred to the Federation/Apex body all the right, title and the interest of the Vendor/Lessor/Original Owner/Promoter and/or the owners in the project land on which the building with multiple wings or buildings are constructed. 16. CONVEYANCE OF THE SAID APARTMENT:- The Promoter, on receipt of complete amount of the Price of the said Apartment under the Agreement 18 | P a g e from the Allottee, shall execute a conveyance deed and convey the title of the said unit not later than One. years and with proportionate indivisible share in the Common to Areas on dt/- ................... the society/association/federation/limited company as may be formed all the right, title and interest of the promoter/original owner/lessor/ in the aliquot part of the said land i.e said project referred in Schedule-II unless the above stated period is not clearly mentioned, it is otherwise agreed to by and between the parties hereto within 3 (three) months from the issuance of the occupancy certificate. However, in case the Allottee fails to deposit the stamp duty, registration charges and all other incidental and legal expenses etc. so demanded within the period mentioned in the demand letter, the Allottee authorises the Promoter to withhold registration of the conveyance deed in his/her favour till full and final settlement of all dues and stamp duty and registration charges to the Promoter is made by the Allottee. 17. PAYMENT OF TAXES, CESSES, OUTGOINGS ETC:- 17.1 The Purchaser/s herein is well aware that, the State Government of Maharashtra has imposed value added tax (VAT) on the agreed consideration, for the transaction for sale of apartment by the Promoter to the Allottee of the apartments under the Value Added Tax Act 2002 and as per the aforesaid act responsibility to pay the aforesaid tax from time to time and hence it is agreed between the parties hereto that, the Allottee/s herein shall bear and pay the aforesaid tax amount on or about execution of this present or as becomes applicable from time to time for this transaction, to the Promoter herein to enable the Promote to deposit / pay the same to the Government of Maharashtra. 17.2 The Allottee/s herein is well aware that, the Central Government of India has imposed service tax on construction cost and which construction cost is to be determined as provided under the aforesaid act out of the transaction for the sale of apartments by the Promoter to the Allottee/s and as per the aforesaid act responsibility to pay the aforesaid tax from time to time to the Central Government has been imposed on the Promoter and hence it is agreed between the parties hereto that, the Allottee/s herein shall bear and pay the aforesaid tax amount on every instalment of payment of consideration. 17.3 If at any time, after execution of this agreement, the service tax and Value Added Tax (VAT) ,GST etc is imposed/increased under respective statute by the central and state government respectively and further at any time before or after execution of this agreement any additional taxes/ duty/ charges/ premium/ cess/ surcharge etc., by whatever name called, is levied or recovered or becomes payable under any statute/rule /regulation notification order/either by the Central or the State Government or by the local authority or by any revenue or other authority, on the said apartment or this agreement or the transaction herein, shall exclusively be paid/borne by the Allottee/s. The Allottee/s hereby, always indemnifies the Promoter from all such levies, cost and consequences. Provided that the Promoter shall provide to the Allottee the details of the taxes paid or demanded along with the acts/rules/notifications together with dates from which such taxes/levies etc. have been imposed or become effective; 17.4 Within 15 days after notice in writing is given by the Promoter to the Allottee that the Apartment is ready for use and occupancy, the Allottee shall be liable to bear and pay the proportionate share (i.e. in proportion to the carpet area of the Apartment) of outgoings in respect of the project land and Building/s namely local taxes, betterment charges or such other levies by the concerned local authority and/or Government water charges, insurance, common lights, repairs and salaries of clerks bill collectors, chowkidars, sweepers and all 19 | P a g e other expenses necessary and incidental to the management and maintenance of the project land and building/s as stated and defined as attached herewith in Annexure G......... Until the Society or Limited Company is formed and the said structure of the building/s or wings is transferred to it, the Allottee shall pay to the Promoter such proportionate share of outgoings as may be determined. The Allottee further agrees that till the Allottee's share is so determined the Allottee shall pay to the Promoter provisional monthly contribution of Rs.......... per month towards the outgoings. The amounts so paid by the Allottee to the Promoter shall not carry any interest and remain with the Promoter until a conveyance/assignment of lease of the structure of the building or wing is executed in favour of the society or a limited company as aforesaid. On such conveyance/assignment of lease being executed for the structure of the building or wing the aforesaid deposits (less deduction provided for in this Agreement) shall be paid over by the Promoter to the Society or the Limited Company, as the case may be. 17.5 Notwithstanding anything contents stated herein above, the liability to pay the aforesaid taxes, outgoings, other charges etc. will be always on Allottee/s of the said apartment and if for whatsoever reason respective Recovering Authority got recovered the same from the Promoter in such circumstances the Promoter herein shall be entitled to recover the same from the Allottee/s along with interests and Allottee/s herein shall pay the same to the Promoter within stipulated period as may be informed by the Promoter to the Allottee/s in writing. It is further specifically agreed that, aforesaid encumbrance shall be on said apartment being first encumbrance of the Promoter. The Allottee/s herein with due-diligence has accepted the aforesaid condition. 17.6 That the allottees are made aware and expressly agree herein that where the project is out of water supply zone of the local authority and there is likely to be low water supply from the local authority and the allottee shall have to pay for the water charges either by tanker or any other form 18. DEPOSITS BY ALLOTTEE/S WITH THE PROMOTER: - The Allottee shall on or before delivery of possession of the said premises keep deposited with the Promoter, the following amounts :- (I)Rs.50,000/- for deposit towards of Society or Limited Company/Federation/ Apex body. REPRESENTATIONS AND WARRANTIES OF THE PROMOTER:- The Promoter hereby represents and warrants to the Allottee as follows: a) The Promoter has clear and marketable title with respect to the project land; as declared in the title report annexed to this agreement and has the requisite rights to carry out development upon the project land and also has actual, physical and legal possession of the project land for the implementation of the Project; b) The Promoter has lawful rights and requisite approvals from the competent Authorities to carry out development of the Project and shall obtain requisite approvals from time to time to complete the development of the project; c) There are no encumbrances upon the project land or the Project except those disclosed in the title report; 20 | P a g e d) There are no litigations pending before any Court of law with respect to the project land or Project except those disclosed in the title report; e) All drawings, sale plans, other drawings are as given to the Promoter by the appointed Architect, Structural Consultants, other consultants, the developer has thus disclosed the same to the allottee and the allottee is aware that professional liability have been undertaken by them individually with the developer which shall prevail on these consultants individually or cumulatively if there is any loss/ harm is caused to the allottee and based on these said details of the drawings an the calculations and areas shown, the allottee has agreed to take the said unit. f) All approvals, licenses and permits issued by the competent authorities with respect to the Project, and said building/wing are valid and subsisting and have been obtained by following due process of law. Further, all approvals, licenses and permits to be issued by the competent authorities with respect to the Project, project land and said building/wing shall be obtained by following due process of law and the Promoter has been and shall, at all times, remain to be in compliance with all applicable laws in relation to the Project, project land, Building/wing and common areas; g) The Promoter has the right to enter into this Agreement and has not committed or omitted to perform any act or thing, whereby the right, title and interest of the Allottee created herein, may prejudicially be affected; h)The Promoter has not entered into any agreement for sale and/or development agreement or any other agreement / arrangement with any person or party with respect to the project land, including the Project and the said [Apartment/Plot] which will, in any manner, affect the rights of Allottee under this Agreement; i) The Promoter confirms that the Promoter is not restricted in any manner whatsoever from selling the said [Apartment/Plot]to the Allottee in the manner contemplated in this Agreement; j) At the time of execution of the conveyance deed of the structure to the association of allottees the Promoter shall handover lawful, vacant, peaceful, physical possession of the common areas of the Structure to the Association of the Allottees; k)The Promoter has duly paid and shall continue to pay and discharge undisputed governmental dues, rates, charges and taxes and other monies, levies, impositions, premiums, damages and/or penalties and other outgoings, whatsoever, payable with respect to the said project to the competent Authorities; 1) No notice from the Government or any other local body or authority or any legislative enactment, government ordinance, order, notification (including any notice for acquisition or requisition of the said property) has been received or served upon the Promoter in respect of the project land and/or the Project except those disclosed in the title report. 20. COVENANTS AS TO USE OF SAID APARTMENT:- The Allottee/s or himself/themselves with intention to bring all persons into whosoever hands the Apartment may come, hereby covenants with the Promoter as follows for the said Apartment and also the said project in which the said Apartment is situated. 21 | P a g e a. To maintain the Apartment at the Allottee's own cost in good and tenantable repair and condition from the date that of possession of the Apartment is taken and shall not do or suffer to be done anything in or to the building in which the Apartment is situated which may be against the rules, regulations or bye-laws or change/alter or make addition in or to the building in which the Apartment is situated and the Apartment itself or any part thereof without the consent of the local authorities, if required. b. Not to store in the Apartment any goods which are of hazardous, combustible or dangerous nature or are so heavy as to damage the construction or structure of the building in which the Apartment is situated or storing of which goods is objected to by the concerned local or other authority and shall take care while carrying heavy packages which may damage or likely to damage the staircases, common passages or any other structure of the building in which the Apartment is situated, including entrances of the building in which the Apartment is situated and in case any damage is caused to the building in which the Apartment is situated or the Apartment on account of negligence or default of the Allottee in this behalf, the Allottee shall be liable for the consequences of the breach. c. To carry out at his own cost all internal repairs to the said Apartment and maintain the Apartment in the same condition, state and order in which it was delivered by the Promoter to the Allottee and shall not do or suffer to be done anything in or to the building in which the Apartment is situated or the Apartment which may be contrary to the rules and regulations and bye-laws of the concerned local authority or other public authority. In the event of the Allottee committing any act in contravention of the above provision, the Allottee shall be responsible and liable for the consequences thereof to the concerned local authority and/or other public authority. d. Not to demolish or cause to be demolished the Apartment or any part thereof, nor at any time make or cause to be made any addition or alteration of whatever nature in or to the Apartment or any part thereof, nor any alteration in the elevation and outside colour scheme of the building in which the Apartment is situated and shall keep the portion, sewers, drains and pipes in the Apartment and the appurtenances thereto in good tenantable repair and condition, and in particular, so as to support shelter and protect the other parts of the building in which the Apartment is situated and shall not chisel or in any other manner cause damage to columns, beams, walls, slabs or RCC, Pardi or other structural members in the Apartment without the prior written permission of the Promoter and/or the Society or the Limited Company. e. Not to do or permit to be done any act or thing which may render void or voidable any insurance of the project land and the building in which the Apartment is situated or any part thereof or whereby any increased premium shall become payable in respect of the insurance. f. Not to throw dirt, rubbish, rags, garbage or other refuse or permit the same to be thrown from the said Apartment in the compound or any portion of the project land and the building in which the Apartment is situated. g. Pay to the Promoter within fifteen days of demand by the Promoter, his share of security deposit demanded by the concerned local authority or Government or giving water, electricity or any other service connection to the building in which the Apartment is situated. 22 | P a g e h. To bear and pay increase in local taxes, water charges, insurance and such other levies, if any, which are imposed by the concerned local authority and/or Government and/or other public authority, on account of change of user of the Apartment by the Allottee for any purposes other than for purpose for which it is sold. i. The Allottee shall not let, sub-let, transfer, assign or part with interest or benefit factor of this Agreement or part with the possession of the Apartment until all the dues payable by the Allottee to the Promoter under this Agreement are fully paid up. j. The Allottee shall observe and perform all the rules and regulations which the Society or the Limited Company or Apex Body or Federation may adopt at its inception and the additions, alterations or amendments thereof that may be made from time to time for protection and maintenance of the said building and the Apartments therein and for the observance and performance of the Building Rules, Regulations and Bye-laws for the time being of the concerned local authority and of Government and other public bodies. The Allottee shall also observe and perform all the stipulations and conditions laid down by the Society/Limited Company/Apex Body/Federation regarding the occupancy and use of the Apartment in the Building and shall pay and contribute regularly and punctually towards the taxes, expenses or other out- goings in accordance with the terms of this Agreement. k. Till a conveyance of the structure of the building in which Apartment is situated is executed in favour of Society/Limited Society, the Allottee shall permit the Promoter and their surveyors and agents, with or without workmen and others, at all reasonable times, to enter into and upon the said buildings or any part thereof to view and examine the state and condition thereof. l. Till a conveyance of the project land on which the building in which Apartment is situated is executed in favour of Apex Body or Federation, the Allottee shall permit the Promoter and their surveyors and agents, with or without workmen and others, at all reasonable times, to enter into and upon the project or any part thereof to view and examine the state and condition thereof. m. That the allottee shall indemnify and keep indemnifying the promoter towards against any actions, proceedings, cost, claims and demands in respect of any breach, non-observance or non-performance of such obligations given specifically herein to the allottee. n. That any nominated surveyor/ architect appointed for specific purposes stated in this covenant the fees of which shall be mutually decided by and between the promoter and the allottee and the same shall be paid by the Allotee as agreed mutually. o. That nothing herein contained shall construe as entitling the allottee any right on any of the adjoining, neighbouring or the remaining buildings/ common areas etc of the remaining portion of the proposed project layout unless specifically agreed and consideration dispensed by the allottee to the developer in this regards. p. That the parking spaces sold to the allottee shall be used only for the purposes of parking and that the said space is designed and made for use of parking a vehicle That this has been clearly made aware to the allottee and the same has been agreed by the allottee to follow. 23 | P a g e 21. NAME OF THE PROJECT/ BUILDING/S / WING/S:- Notwithstanding anything contained anywhere in this agreement, it is specifically agreed between the parties hereto that, the Promoter herein has decided to have the name of the Project "ROYAL PALMS" and building will be denoted by letters or name A-1,A-2,A-3,A-4 or as decided by the promoter and further erect or affix Promoter's name board at suitable places as decided by the Promoter herein on a building and at the entrances of the scheme. The Allottees/s in the said project/building/s or proposed organisation are not entitled to change the aforesaid project name and remove or alter Promoter's name board in any circumstances. This condition is essential condition of this Agreement. 22. ENTIRE AGREEMENT AND RIGHT TO AMEND:- This Agreement, along with its schedules, constitutes the entire Agreement between the Parties with respect to the subject matter hereof and supersedes any and all understandings, any other agreements, allotment letter, correspondences, arrangements whether written or oral, if any, between the Parties in regard to the said apartment. This agreement may only be amended through written consent of the Parties 23. SEPARATE ACCOUNT FOR SUMS RECEIVED:- The Promoter shall maintain a separate account in respect of sums received by the Promoter from the Allottee/s towards total price/consideration of the said apartment and as advance or deposit, sums received on account of the share capital for the formation of the Co-operative Society or a Company or any such legal entity/organisation that may be formed, towards the out goings, legal charges etc. Provided that the Promoter shall be allowed to withdraw the sums received from the Allottee/s and utilise the same as contemplated and permitted under the said act and rules and regulations made thereunder. 24. RIGHT OF ALLOTTEE TO USE COMMON AREAS AND FACILITIES SUBJECT TO PAYMENT OF TOTAL MAINTENANCE CHARGES:- The Allottee hereby agrees to purchase the Apartment on the specific understanding that is/her right is to only to the use and unless specifically allotted/ given vides (limited) common areas/ facilities, the use of the Common Areas/amenities shall be subject to timely payment of total maintenance charges, as determined and thereafter billed by the maintenance agency appointed or the association of allottees (or the maintenance agency appointed by it and performance by the Allottee of all his/her obligations in respect of the terms and conditions specified by the maintenance agency or the association of allottees from time to time. That the list of things that would be covered under the maintenance head are clearly stated and which the allottee has expressly agreed to pay for (fully/ proportionately) and marked and attached as Annexure G 25. The Promoter shall confirm the final carpet area that has been allotted to the Allottee after the construction of the Building is complete and the occupancy certificate is granted by the competent authority, by furnishing details of the changes, if any, in the carpet area, subject to a variation cap of three percent. The total price payable for the carpet area shall be recalculated upon confirmation by the Architect of the project. If there is any reduction in the carpet area within the defined limit then Promoter shall refund the excess money paid by Allottee within forty-five days with annual interest at the rate specified in the Rules, from the date when such an excess amount was paid by the Allottee. If there is any increase in the carpet area allotted to Allottee, the Promoter shall demand additional amount from the Allottee as per the next milestone of the Payment Plan. All these 24 | P a g e monetary adjustments shall be made at the same rate per square meter as agreed in clause 2 of this Agreement. That in such a case, the parties hereto agree that a nominated surveyor / architect as an expert be appointed mutually to take his expert opinion of measuring the said unit and submitting the said details. 26. PROVISIONS OF THIS AGREEMENT APPLICABLE ON ALLOTTEE / SUBSEQUENT ALLOTTEES It is clearly understood and so agreed by and between the Parties hereto that all the provisions contained herein and the obligations arising hereunder in respect of the said project shall equally be applicable to and enforceable against any subsequent Allottees of the Apartment, in case of a transfer, as the said obligations go along with the Apartment for all intents and purposes. That the allottees agree that they shall not object to any easement rights that need to be given to any person in and around the said project and shall neither object to any such proceedings of land acquisition undertaken by a government agency including any compensation/ benefit given to the promoter in turn for which no conveyance has occurred to the ultimate body expressly stated in this agreement and for which no consideration is specially dispensed by the allottee to the promoter for the same; save and except his right to enjoy and use the unit purchased by him and any other rights given by the developer to the allottee for which consideration has been dispensed. 27. REGISTRATION OF THIS AGREEMENT:- The Promoter herein shall present this Agreement as well as the conveyance at the proper registration office for registration within the time limit prescribed by the Registration Act and the Allottee/s will attend such office and admit execution thereof, on receiving the written intimation from the Promoter. 28. PAYMENT OF STAMP DUTY, REGISTRATION FEE & LEGAL CHARGES:- The Allottee/s herein shall bear and pay stamp duty and registration fees and all other incidental charges etc. in respect of this agreement and all other agreements or any final conveyance deed which is to be executed by the Promoter in favour of Allottee/s or Association/Society i.e organisation as may be formed in which the Allottee/s will be the member. The Allottee shall also pay to the Promoter a sum of Rs. 15,000/-. for meeting all legal costs, charges and expenses, including professional costs of the Attorney-at-Law/Advocates of the Promoter in connection with formation of the said Society, or Limited Company, or Apex Body or Federation and for preparing its rules, regulations and bye-laws and the cost of preparing and engrossing the conveyance or assignment of lease. 29. WAIVER NOT A LIMITATION TO ENFORCE 29.1 The Promoter may, at its sole option and discretion, without prejudice to its rights as set out in this Agreement, waive the breach by the Allottee in not making payments as per the Payment Plan including waiving the payment of interest for delayed payment. It is made clear and so agreed by the Allottee that exercise of discretion by the Promoter in the case of one Allottee shall not be construed to be a precedent and /or binding on the Promoter to exercise such discretion in the case of other Allottees. 29.2 Failure on the part of the Promoter to enforce at any time or for any period of time the provisions hereof shall not be construed to be a waiver of any provisions or of the right thereafter to enforce each and every provision. 30.SEVERABILITY 25 | P a g e If any provision of this Agreement shall be determined to be void or unenforceable under the Act or the Rules and Regulations made thereunder or under other applicable laws, such provisions of the Agreement shall be deemed amended or deleted in so far as reasonably inconsistent with the purpose of this Agreement and to the extent necessary to conform to Act or the Rules and Regulations made thereunder or the applicable law, as the case may be, and the remaining provisions of this Agreement shall remain valid and enforceable as applicable at the time of execution of this Agreement. 31. PLACE OF EXECUTION The execution of this Agreement shall be complete only upon its execution by the Promoter through its authorised signatory at the Promoter's Office, or at some other place, which may be mutually agreed between the Promoter and the Allottee, in Aurangabad. after the Agreement is duly executed by the Allottee and the Promoter or simultaneously with the execution the said Agreement shall be registered at the office of the Sub-Registrar. Hence this Agreement shall be deemed to have been executed at Aurangabad. 32.NOTICES That all notices to be served on the Allottee and the Promoter as contemplated by this Agreement shall be deemed to have been duly served if sent to the Allottee or the Promoter by Registered Post at their respective addresses specified below: ___________Name of Allottee ___________ (Allottee Address) M/s PALMS REALTY Promoter name Gut no.4, Mustafabad, Beed By Pass Aurangabad. (Promoter Address) It shall be the duty of the Allottee and the promoter to inform each other of any change in address subsequent to the execution of this Agreement in the above address by Registered Post failing which all communications and letters posted at the above address shall be deemed to have been received by the promoter or the Allottee, as the case may be. 33. JOINT ALLOTTEES That in case there are Joint Allottees, they shall be considered as joint and severable allottees for the purpose of these clauses in the agreement and all communications shall be sent by the Promoter to the Allottee whose name appears first and at the address given by him/her which shall for all intents and purposes to consider as properly served on all the Allottees. 34. GOVERNING LAW That the rights and obligations of the parties under or arising out of this Agreement shall be construed and enforced in accordance with the laws of India for the time being in force. 35. DISPUTE RESOLUTION (If the parties wish to add herein an arbitration clause for the purpose of interpretation of the clauses of this agreement, they can be free to do so) All or any disputes arising out or touching upon or in relation to the terms and conditions of this Agreement, including the interpretation and validity of the terms thereof and the respective rights and obligations of the Parties, shall be settled amicably by mutual discussion, failing which the same shall be settled through the arbitrator appoint by promoter appointed under the Act. It is further agreed that, if any Sales Tax / SGST ,Work Contract Tax, Service Tax / CGST /IGST , Value Added Tax , Local Tax, Local Body Tax or any other charges become payable on this 26 | P a g e agreement , the same shall be borne and paid by Flat Purchaser/s alone. LIST OF SCHEDULES SCHEDULE I = Description of the Said Land SCHEDULE II = Description of the project/phase registered with the real estate regulatory authority under S.5 of the Real Estate (Regulation and Development) Act, 2016. (Applicable in case if the construction on the said land is in phases) SCHEDULE III = Description of the Apartment and the garage/closed parking (if applicable) along with boundaries in four directions. SCHEDULE IV = Specifications of the said apartment. SCHEDULE V = Description of Common Amenities for the said project/phase SCHEDULE VI = Description of common areas and facilities/limited common areas and facilities SCHEDULE I THE DESCRIPTION OF PHASE 1 All that piece and parcel of property Land adm. 19.00 Sqm + TDR , forming part of Land Survey No. 53/P totally admeasuring 19.00Sqm + Applicable TDR and proposed Additional FSI As available situated at Village Satara , Taluka and District Aurangabad, bounded as follows:- East : Internal Road West : Land of Mr. Malkhare North : Gut No-57/P South : 9Mtr. Wide Road SCHEDULE II 1) The scheme of Royal Palm will consist of 8 Building – Namely as A-1, A-2, A-3, A-4,A- 5,A-6,A-7,B-1 2) A-5,A-6,A-7,B-1 building tower will be construct of 11 to 14 Floors tower & will be developed in different phases. 3) Phase 1 will consist of building A-1, A-2, A-3, A-4Each Building has 4 floors i.e. Parking +First Floor +Second Floor +Third Floor +Forth Floor Each floor has 4 Apartment SCHEDULE III COMMON AREAS 1. The land under the buildings 2. The footings, RCC structures and main walls of the buildings 3. staircase columns and lift as with lift room in the building/s 4. Club House 5. Parking & play area SCHEDULE IV SPECIFICATIONS OF THE FLAT 1) R.C.C FAME STRUCTURE 2) INTERNAL WALL 0.100M THICK 27 | P a g e 3) EXTERNAL WALL 0.150 M THICK 4) CEREMIC TILE FLOORING 5) CASING TYPE ELECTRIFICATION 6) CONSILLED TYPE PLUMBING SCHEDULE V FACILITIES 1. common sulage/drainage, water, electrical lines 2. common ground water storage tank and overhead tank 3. electrical meters, wiring connected to common lights, lifts, pumps. 4. Club House 5. common parking LIST OF ANNEXURES- ____(kindly correlate the same form the list given at the top.) ANNEXURE - A = Copy of the Certificate of the title issued by the advocate. ANNEXURE - B = Copies of Property Card/7xl2 Extract or any other revenue record showing nature of the title of the Promoter to the said land. ANNEXURE - Cl = Copy of Building permission /Commencement certificate ANNEXURE - C2 = Copy of the authenticated copies of the plans of the Layout of the said phase as proposed by the Promoter ANNEXURE - C2A = Copy of the proposed layout plan and the proposed building/phase/wing plan showing future proposed development as disclosed by the promoter in his registration ANNEXURE - C3 = Copy of clear block plan showing the project (phase/ wing) which is intended to be constructed and to be sold and the said unit which is intended to be bought by the allottee. ANNEXURE -D = Copy of the plans and specifications approved by the concerned local/planning authority. ANNEXURE - E = Copy of floor plan of the said apartment. BUILDER/DEVELOPER M/S. Palms Realty Its Partners, 1. Mr. Ravinder singh Jaswant singh Johar Through GPA Mr. Sachin S. Chavan Age:37 Years. Occ: Business R/O: Sindhi Colony, Aurangabad. 2. Mr. Ravinder singh Khusbir singh Bindra Through GPA Mr. Raosaheb D. Bodkhe. Age: 37 Years. Occ: Business R/O: Jyoti Nagar, Aurangabad. 3. Gangamai Heights Pvt. Ltd. Through its Managing Director Shri Ranjeet Padmakar Mulay Through GPA Mr. Bhagwat J. Phohare Age: - 39 yrs, Occ: - Business, 28 | P a g e R/o. Sahyadri , Rachnakar Colony, Station Road , Aurangabad. LAND OWNER M/S VYANKATESH REALTORS Through its Partner Mr.Nagin Bhagchand Sanghavi A Registered Partnership Firm having its registered office At 126 Mittal Tower Nariman Point Mumbai-400021 Pan no.AAFLV4890J M/S. Palms Realty Its Atorney Holder, 1. Mr. Raosaheb Dattu Bodkhe. Age: 38 Years. Occ: Business R/O: Naynagar, Aurangabad. OR 2. Mr. Sachin Sheshrao Chavan Age:31 Years. Occ: Business R/O: N-7 Cidco, Aurangabad. 3. Mr. Bhagwat Janardhan Pohare Age: - 45 yrs, Occ: - Business, R/o. Gajanan Colony , Garkheda Parishar, Aurangabad. M/S VYANKATESH REALTORS Through its Attorney Holder 1. Mr. Raosaheb Dattu Bodkhe. Age: 38 Years. Occ: Business R/O: Naynagar, Aurangabad. OR 2. Mr. Sachin Sheshrao Chavan Age:31 Years. Occ: Business R/O: N-7 Cidco, Aurangabad. Name of the Purchaser :- Mr. 29 | P a g e In the presence of: 1) Name : Add:- 2) Name :- Add:-