AGREEMENT FOR SALE BETWEEN M/s PUNEET BUILDERS AS THE “PROMOTER” AND Mrs. _______________________________ & Mr. _______________________________ AS THE “ALLOTTEES” DATED: _____________________, 2019 1 2 AGREEMENT FOR SALE This Agreement is entered into on this ____ day of _____________, 2019 by and between: I. PARTICIPANTS: NAME M/S PUNEET BUILDERS 401/402, Tulsee Chamber Premises CHSL, Nr. Teen A. ADDRESS Petrol Pump, L.B.S. Road, Thane (West) - 400 602 PAN Card No. AAIFP1577B _____________________________________________________________________________________ M/S PUNEET BUILDERS is a Partnership Firm duly registered under the Indian Partnership Act, 1932, having its Registered Office at the address mentioned hereinabove, represented by its Partner, MR. PRATEEK S PATIL (hereinafter referred to as the “Promoter”), which expression shall, unless repugnant to the context or meaning thereof mean and include its, successors in interest, executors, administrators and permitted assigns, of the FIRST PART; _____________________________________________________________________________________ AND NAME AGE ADDRESS B. PAN CARD NO. Email: ___________________________________________________________________________________ Mrs. __________________________, is an Indian inhabitant, residing at the address specified hereinabove, and is referred to hereinafter as the “Allottee 1”, which expression shall unless repugnant to the context or meaning thereof mean and include his/her Heirs, Successors, Executors and Assigns, of the SECOND PART; ____________________________________________________________________________________ AND 3 NAME AGE ADDRESS C. PAN CARD NO. Email: ___________________________________________________________________________________ Mr. _________________________, is an Indian inhabitant, residing at the address specified hereinabove, and is referred to hereinafter as the “Allottee 2”, which expression shall unless repugnant to the context or meaning thereof mean and include his/her Heirs, Successors, Executors and Assigns, of the SECOND PART; ____________________________________________________________________________________ D. Allottee 1 and Allottee 2 shall hereinafter be collectively referred to as the “Allottee(s)”. E. The Promoter and the Allottee shall be referred to individually as “Party” and collectively as “Parties” hereinafter. II. RECITALS: A. WHEREAS the Promoter herein is seized of and in possession of and otherwise legally entitled to undertake the construction and redevelopment of all that part and parcel of non-agricultural land or ground at Survey No. 229 & 267 and C.T.S. No.11(part) & 12(part) of Village- Kurla being part of MHADA land at Kurla, Nehru Nagar, Mumbai - 400 024 in the Registration Sub-District of Kurla, Mumbai Suburban District, admeasuring about 800.05 sq.mtrs. alongwith additional tit bit land of 74.78 sq. mtrs. And R.G. Plot hang area of 255 sq.mtrs or more as per the actual demarcation on site by Mhada, the area totaling to 1129.83 sq. mtrs., and more particularly described in the First Schedule of the Property hereinbelow (hereinafter referred to as “the Project Land“); B. AND WHEREAS the Maharashtra Housing and Area Development Authority (“MHADA”), a statutory corporation constituted under the Maharashtra Housing and Area Development Act, 1976 was interalia seized and possessed of and otherwise well and sufficiently entitled to the Project Land; C. AND WHEREAS, in pursuance of the Subsidized Industrial Housing Scheme introduced by the Government, MHADA constructed Building No. 37 for housing of the industrial workers on the Project Land (hereinafter referred to as the “Original Building”), and the allottees of the aforesaid original Building formed themselves into a Co-operative Housing Society under the Maharashtra Co-operative Societies Act, 1961, namely the Nehru Nagar Priyadarshan Co- Operative Housing Society Ltd., having Registration No. MUM/MHADA/HSG/(T.C.)/11367/2001-2002 dated 11.10.2001(hereinafter referred to as the “Society”). 4 D. AND WHEREAS by an Indenture of Lease dated. 07.10.2010, registered in the Office of the Jt. Sub-Registrar Kurla – 3 registered on dated 15.10.2010 under Sr. No. BDR-13/9044/2000 and executed between MHADA and the Society, MHADA demised unto the said original Society all and singular the Project Land and the original Building; E. AND WHEREAS by a Deed of Sale dated 07.10.2010 registered in the Office of the Jt. Sub-Registrar Kurla- 3 registered on dated 15.10.2010 under Sr. No. PBDR-13/9045/2010 executed between MHADA and the Society, MHADA transferred and conveyed unto the said Society all of that property constituting the Project Land and the original Building, for the consideration and upon the terms and conditions mentioned in the said Deed; F. AND WHEREAS the Society is absolutely seized & possessed and / or otherwise well & sufficiently entitled to the Project Land & the original Building as aforesaid; G. AND WHEREAS by Development Agreement dated 11.11.2010, registered at the office of the Sub-Registrar Kurla-3 under SR. No. BDR-13/10082/2010, the Society has granted development rights in respect of the Project Land to the Promoter, upon the terms and conditions recorded in the said Development Agreement; H. AND WHEREAS the Society also executed Irrevocable Power of Attorney in favour of Puneet Builders dated 11.11.2010 in favour of the Promoter, which is registered in the Office of the Sub-Registrar, Kurla-3 under Sr.No. BDR-13- 10083-2010. I. AND WHEREAS by virtue of the aforesaid deeds and documents, the Promoter is in possession of the Project Land and is entitled to and enjoined upon to construct on the Project Land a multi-storied composite building of minimum Ground Floor plus 18 floors by consuming the full FSI under the 3.0 policy of MHADA, as well as all other FSI including Fungible FSI obtained from the concerned authorities, as has been permitted for the Promoter to utilize as reflected in the aforesaid deeds and documents, including parking and other amenities, which is proposed as a “real estate project” by the Promoter and has been registered as a ‘real estate project’ in Three Phases described in detail under clause 4 hereinbelow (hereinafter referred to as “the Real Estate Project”) with the Real Estate Regulatory Authority (“Authority”), under the provisions of Section 5 of the Real Estate (Regulation and Development) Act, 2016 (“RERA Act”), read with the provisions of the Maharashtra Real Estate (Regulation and Development) (Registration of real estate projects, Registration of real estate agents, rates of interest and disclosures on website) Rules, 2017 (“RERA Rules”); J. AND WHEREAS the Promoter shall provide to the Society in the Real Estate Project, flats of prescribed areas as agreed by and between the said Society and the Promoter, and the Promoter shall have the sole and exclusive right to sell the remaining premises / flats in the Real Estate Project on an ownership basis and/or otherwise deal with and dispose of the said flats, terraces, amenities, common areas, parking spaces etc. to be constructed by the Promoter as a part of the Real Estate Project, as well as to enter into agreements with the 5 prospective allottees of such premises / flats / spaces, as well as to appropriate for the benefit of the Promoter the consideration arising from such agreements; K. AND WHEREAS MHADA provided it’s No Objection Certificate dated 07.08.2018 permitting the utilization of FSI and allowing the construction of the built-up area as indicated therein, in the Real Estate Project as per MHADA policy and more particularly described in ANNEXURE A annexed hereto; L. AND WHEREAS the Allottee acknowledges and agrees that the Promoter is entitled to utilize further FSI as shown in the various deeds and documents referred to hereinabove, as and when the same is approved and becomes available, and hereby consents to any further construction in the Real Estate Project on the basis of any such additional approval of FSI; M. AND WHEREAS the Authority has duly issued the Certificate of Registration No. P51800020798 dated 10.05.2019 for Phase One of the Real Estate Project, as well as the Certificate of Registration No. P51800020753 dated 08.05.2019 for Phase Two, as well as Certificate of Registration No. P51800020793 dated 10.05.2019 for Phase Three (hereinafter collectively referred to as the “RERA Certificate(s)”)and a copy of the RERA Certificate is furnished under ANNEXURE B(Colly) annexed hereto; N. AND WHEREAS the Allottee acknowledges and agrees that the Allottee is to be allotted an apartment in Phase _____ of the Real Estate Project and has, prior to the date hereof, examined a copy of the RERA Certificate that has been granted for the said Phase, and has caused the RERA Certificate to be examined in detail by his/her/its advocates and planning , structural and architectural consultants, following which the Allottee has agreed and consented to the development of the Real Estate Project as well as for the purchase of the apartment therein; O. AND WHEREAS the Allottee hereby acknowledges and agrees that the Allottee has also examined all documents and information uploaded by the Promoter on the website of the Authority as required by the RERA Act and the RERA Rules and has understood the documents and information in all respects; P. AND WHEREAS the principal and material aspects of the development of the Real Estate Project as sanctioned under the RERA Certificate, are briefly stated below: a. The subject matter Real Estate Project as per sanctioned plans, named as “PUNEET PRIME” Tower has been proposed for Ground Floor/ Stilt + 18 upper floors; b. The Real Estate Project shall comprise of units/premises consisting of apartments, flat/s, purely for Residential use; c. Total Built Up Area of 4663.35 square meters has been sanctioned and out of the said sanctioned area the built up area 4613.35 sq.mt. & 1586.86 square meters of fungible Built up area has been approved for consumption in the construction and development of the Real Estate Project as on date, and the Allottee has acknowledged and agreed that the Promoter has the right to undertake further construction upto a Total Built Up Area of 12,000 square meters (Including Fungible FSI or more) in the Real Estate Project subject to receipt of further approval in respect thereof; 6 d. The common areas, facilities and amenities in the Real Estate Project that may be usable by the Allottee are listed in ANNEXURE C annexed hereto (“Real Estate Project Amenities”); e. The Promoter shall be entitled to put hoarding/boards of its brand name viz. PUNEET GROUP and/or PUNEET including displaying the name of the Promoter, in the form of Neon Signs, MS Letters, Vinyl & Sun Boards on the Real Estate Project and on the façade, terrace, compound wall or other part of the Real Estate Project. The Promoter shall also be entitled to place, select, decide hoarding/board sites; f. The Promoter shall be entitled to designate any spaces/areas in the Real Estate Project (including on the terrace and basement levels of the Real Estate Project) for third party service providers, for facilitating provision and maintenance of utility services (such as power, water, drainage and radio and electronic communication) to be availed by the Allottee and other Allottees of apartments/flats in the Real Estate Project. Such designation may be undertaken by the Promoter on lease, leave and license basis or such other method. For this purpose, the Promoter may lay and provide the necessary infrastructure such as cables, pipes, wires, meters, antennae, base sub- stations, towers etc.; g. It is agreed that pursuant to the Real Estate Project being registered and updated with the Authority and the proposed layout of the Real Estate Project being disclosed to the Allottee by way of this Agreement and the representations made to the Authority from time to time , no further consent/s will be required by the Promoter for the development of the Real Estate Project; h. The details of conferment of title upon the Society with respect to the Real Estate Project, are more particularly specified in Clause 52 hereinbelow; i. A copy of Intimation of approval of the plan for Zero FSI bearing reference no. EE/BP CELL/GM/MHADA-22/242/2019 dated 16.03.2019 issued by MHADA and a copy of Further approval of the Amended Plan bearing reference no. MH/EE/(B.P.)/GM/MHADA-22/242/2020 dated 03.02.2020 issued by MHADA and a copy of the Commencement Certificate for work upto Plinth level bearing reference No. MH/EE/(B.P.)/GM/MHADA-22/242/2019 dated 02.08.2019 issued by the MHADA of Greater Mumbai (“MHADA”) are enclosed as ANNEXURE D, D1(Colly.) and ANNEXURE E respectively annexed hereto; j. The above details along with the annexures to the RERA Certificate are available for inspection on the website of the Authority at https://maharera.mahaonline.gov.in. Q. AND WHEREAS the Allottee is desirous of purchasing a residential premises / apartment in the building that shall form a part of the Real Estate Project; R. AND WHEREAS the Society has entered into a standard agreement(s) with an architect (“the Architect”) registered with the Council of Architects, in the form as prescribed by the said Council of Architects; S. AND WHEREAS the Promoter has appointed a structural engineer (“the structural Engineer”) for the preparation of the structural design and drawings of the Real Estate Project which shall be under the professional supervision of the Architect and the structural Engineer till the completion of the Real Estate Project, in addition to the in house engineers of the Promoter; T. AND WHEREAS the Promoter has the right to sell the Apartment in the Real Estate Project to be constructed by the Promoter, and to enter into this Agreement with the Allottee of the Apartment, and to receive the sale consideration in respect thereof; 7 U. AND WHEREAS the copies of the Certificate of Title issued by the attorney at law or advocate of the Promoter has been furnished at ANNEXURE F annexed hereto; V. AND WHEREAS the copies of the Property Card, City Survey or extract of any other relevant revenue record showing the nature of the title of the Promoter to the Project Land on which the Real Estate Project is constructed or is to be constructed have been furnished at ANNEXURE G (colly) annexed hereto; W. AND WHEREAS the copy of the Layout plans as approved by the concerned local authority have been furnished at ANNEXURE H annexed hereto; X. AND WHEREAS the copies of the plans and specifications of the Apartment agreed to be purchased by the Allottee, as sanctioned and approved by the concerned local authority, have been furnished at ANNEXURE I & ANNEXURE J annexed hereto; Y. AND WHEREAS the Allottee acknowledges receipt of the updated brochure, as duly stamped and attested by the Promoter, in respect of the Real Estate Project as has been provided by the Promoter prior to entering into this Agreement, and hereby agrees that the decision to purchase an apartment in the Real Estate Project is not based upon any information that may have been provided in respect of the Real Estate Project prior to the issuance of the updated brochures, and the Promoter does not take any responsibility for any such information provided prior thereto and the Allottee irrevocably accepts the same; Z. AND WHEREAS further requisite approvals and sanctions if any, for the development of the Real Estate Project, will be obtained from the competent authorities as and when the same is/are required; AA. AND WHEREAS, on demand from the Allottee, the Promoter has given inspection to the Allottee of all the documents of title relating to the Project Land, as well as the plans, designs and specifications prepared by the Architect, as well as all documents relating to all approvals obtained till date in respect of the Real Estate Project, and of such other documents as are specified under the RERA Act and the RERA Rules, and the Allottee has duly verified and has conveyed its acceptance to the same; BB. AND WHEREAS the Allottee has issued Letter of Intent dated _____________ to the Promoter for the purchase of the Apartment, and the Parties agree that the said Letter of Intent forms a part of the contract between the Parties, subject to the fact that the provisions of this Agreement shall supersede any contradictory provisions contained in the Letter of Intent; CC. AND WHEREAS, under Section 13 of the RERA Act, the Promoter is required to execute a written Agreement for sale of the said Apartment with the Allottee, being in fact these presents, and also to register said Agreement under the Registration Act, 1908; DD. 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 8 willing to enter into this Agreement on the terms and conditions appearing hereinafter; NOW THEREFORE, THIS AGREEMENT WITNESSETH AND IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS: - 1. The above Recitals shall form an integral part of the operative portion of this Agreement, as if the same are set out herein verbatim. The headings given in the operative section of this Agreement are only for convenience and are not intended to be in derogation of the RERA Act. 2. The Promoter shall construct the Real Estate Project being the said multi-storey composite building known as PUNEET PRIME, consisting of Ground floor plus 17 upper floors in accordance with the plans, designs and specifications as referred hereinabove, and as approved by the MHADA, the Municipal Corporation of Greater Mumbai (“MCGM”) and other concerned authorities from time to time. The Real Estate Project shall have the Real Estate Project Amenities and specification of the amenities are as set out in ANNEXURE I hereto. 3. The Allottee acknowledges and agrees that the Real Estate Project is to be constructed in three phases, and as the Promoter is entitled to the phase wise allotment of additional FSI from MHADA, MCGM and other Authorities, the Promoter has the right to amend the construction programme, the building plans and to undertake additional construction, and the Allottee provided irrevocable consents and has no objection to the same; 4. The details and particulars of the RERA registration of the three phases of the Real Estate Project are as set out hereinbelow: Sr. Phase No Phase Name Phase Registration Number No. 1 Phase Puneet Prime Phase One P51800020798 ONE Floor 0 To Floor 2 2 Phase Puneet Prime Phase One P51800020753 TWO Floor 3 To Floor 16 3 Phase Puneet Prime Phase One P51800020793 THREE Floor 17 To Floor 18 PURCHASE OF THE APARTMENT: 5. The Allottee has agreed to acquire from the Promoter, apartment number __________situated on the _________th floor of the Real Estate Project admeasuring _______________ sq. mtrs. of carpet area as specified in the RERA 9 measurement plan, which is based upon the unfurnished surfaces of the apartment and more particularly described in the Second Schedule hereinbelow (hereinafter referred to as the “Apartment”), for the consideration, and on the terms and conditions as set out hereinafter. The aforesaid carpet area of the said Apartment 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, area of the column and share walls of the Apartment. 6. The Allottee has hereby agreed to purchase the Apartment forming a part of Phase _________ having RERA project registration number : _________________. 7. The said Apartment is shown hatched in red color on the floor plan thereof furnished at ANNEXURE J annexed hereto. The said Apartment is inclusive of an attached area admeasuring _________ sq.mts., in the form of cupboard space and/or niche and/or elevation feature etc. (hereinafter referred to as the “Attached Area”). The Parties acknowledge and agree that the Attached Area refers to the area which is within or attached to the Apartment and is being allotted to the Allottee for his/her exclusive use as a part of the Apartment to the exclusion of other owners in the Real Estate Project. 8. The Promoter hereby declares that the sanctioned Floor Space Index available as on date in respect of the Project Land is 6200.21 sq. mtrs. only and the Promoter has planned to utilize further Floor Space Index of 806.10 sq. mtr. by availing of TDR or FSI available on payment of premiums, or FSI available as incentive FSI by implementing various scheme as mentioned in the Development Control Regulations or based on expectation of increased FSI which may be available in future on modification to Development Control Regulations, which are applicable to the Real Estate Project. The Promoter has disclosed the total Floor Space Index of minimum 7006.31 sq. mtr. (Including Fungible FSI or more) as proposed to be utilized by the Promoter on the Project Land in the Real Estate Project, and the 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 the Promoter only. 9. The Promoter, on receipt of the complete amount of the Sale Consideration, and upon fulfillment of the other obligations of the Allottee as set out in this Agreement, shall execute a conveyance deed and convey the title of the Apartment together with proportionate indivisible share in the common areas of the Real Estate Project within 3 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. as demanded within the period mentioned in the demand letter, the Allottee authorizes the Promoter to withhold registration of the conveyance deed in its favour till full and final settlement of all dues and stamp duty and registration charges to the Promoter is made by the Allottee. The Allottee shall be solely responsible and liable for compliance of the provisions of the Indian Stamp Act, 1899 including any actions taken or deficiencies/penalties imposed by the competent authority. 10 SALE CONSIDERATION: 10. The Allottee hereby agrees to purchase from the Promoter, and the Promoter hereby agrees to sell to the Allottee, the Apartment as shown in the aforesaid floor plan for the consideration of Rs. _______________/- (Rupees _________________Only), which is inclusive of an amount of Rs. 0 (Rupees Zero Only), being the proportionate price of the common areas and facilities appurtenant to the Apartment, the nature, extent and description of the common areas and facilities which are more particularly described in the Real Estate Project Amenities. The Allottee hereby agrees to purchase from the Promoter, and the Promoter hereby agrees to sell to the Allottee, Parking space situated at Robotic Tower Parking having car parking height upto 1.75 mtr. in the Real Estate Project, for the consideration of Rs. 0/- (Rupees Zero Only). The exact location and identification of such car parking space will be finalized by the Promoter only upon completion of the Real Estate Project in all respects. The Car Parking space shall be for the Allottee’s use. 11. In accordance with the terms and conditions set out in this Agreement, and as mutually agreed upon by and between the Parties, the Promoter therefore hereby agrees to sell, and the Allottee hereby agrees to purchase, the Apartment and the aforesaid parking space for the total aggregate consideration amount of Rs. _____________/- (Rupees ________________Only), (hereinafter referred to as the “Sale Consideration”). The aforesaid Sale Consideration is exclusive of the Attached Area. It is made clear by the Promoter and the Allottee agrees that the Apartment alongwith the car parking space shall be treated as a Single indivisible unit for all purposes. 12. The Sale Consideration of the Apartment is exclusive of the statutory deposits paid / payable by the Promoter to authorities for electricity, water and other facilities or any other charges paid / payable by the Promoter to relevant Governmental authorities. The same shall be payable by the Allottee in proportion to the carpet area of the Apartment. In case the said charges are revised / changed due to enhancement in government and statutory dues, taxes, cess or charges under the applicable laws, due to any amendment / modification thereof, including but not limited to, upward revision of statutory charges, increase of deposits/ charges for supply of electricity and water, cost of additional fire safety measures, revision of ground rent, or outgoings of any kind or nature, whether prospectively or retrospectively, the same shall be payable by the Allottee in proportion to the carpet area of the Apartment, as and when demanded by the Promoter. 13. The Allottee acknowledges and agrees that any input credit benefits under GST that may have been available to the Promoter under this transaction have already been passed on to the Allottee and have been factored in to arrive at the discounted price forming the Sale Consideration herein. The Allottee agrees that the Allottee shall not be entitled to any further benefits whatsoever in this regard. 14. The Allottee acknowledges that the Allottee has been informed by the Promoter that the Real Estate Project, including the Apartment, has been financed by Bajaj Housing Finance Limited (hereinafter referred to as the “Lender”). In light thereof, the Apartment to be sold to the Allottee is currently mortgaged with Bajaj Housing Finance Limited by virtue of mortgage deed executed on 11 18/09/2019. The Lender has provided a no objection certificate on dated _________________ sanctioning the present sale and conveyance of the Apartment to the Allottee, a copy of which is annexed hereto as ANNEXURE K. The amounts received towards the Sale Consideration shall be hypothecated in favour of the Lender, and the Apartment shall be conveyed to the Allottee free from encumbrances subsequent to receipt of the entire Sale Consideration amount as well as any other amounts due and payable under this Agreement, and upon the execution of a sale deed in favour of the Allottee. 15. The Allottee has paid, prior to the execution of this Agreement, an amount of Rs. _________________/- (Rupees ____________________Only) (which amount does not exceed 10% of the Sale Consideration) as advance payment forming a part of the Sale Consideration vide Cheque No: ____________________________and hereby agrees to pay to the Promoter the balance amount of the Sale Consideration amounting to Rs. ____________/- (Rupees _________________Only) in the manner as set out hereinbelow. The Parties acknowledge and agree that the aforesaid advance payment has been made as a friendly loan and shall be duly appropriated against a part of the Sale Consideration towards a booking amount for the Apartment. 16. PAYMENT SCHEDULE: The Allottee agrees to make payment of the amounts towards the Sale Consideration as per the schedule set out hereinbelow: Percentage of Sr. Payment Schedule Sale No. Consideration 1. On Booking 9.0% 21% + balance of amount due, if any, 2. On Execution of this Agreement from the booking amount under Sr. No. 1 3. On completion of Plinth 10.0% 4. On completion of 1st RCC Slab 2.5% 5. On completion of 2nd RCC Slab 2.5% 6. On completion of 3rd RCC Slab 2.5% 7. On completion of 4th RCC Slab 2.5% 8. On completion of 5th RCC Slab 2.5% 9. On completion of 6th RCC Slab 2.5% 10. On completion of 7th & 8th RCC Slab 2.0% 12. On completion of 9th & 10th RCC Slab 2.0% 14. On completion of 11th & 12th RCC Slab 2.0% 16. On completion of 13th & 14th RCC Slab 2.0% 18. On completion of 15th & 16th RCC Slab 2.0% 20. On completion of the walls of the Apartment 2.0% 21. On completion of internal plaster of the Apartment 2.0% 22. On completion of floorings of the Apartment 2.0% On completion/ installation of doors and windows of the 2.0% 23. Apartment On completion of lift walls upto floor level of the 2.0% 24. Apartment On completion of staircases upto floor level of the 2.0% 25. Apartment On completion / installation of the Sanitary fittings of the 2.0% 26. Apartment 27. On completion of external plaster of the Building Phase in 3.0% 12 which the Apartment is located On completion of external plumbing & elevation of 2.0% 28. Building Phase in which the Apartment is located On completion of the lift installation of the building phase 2.0% 29. in which the Apartment is located On installation of water pumps of the building phase in 2.0% 30. which the Apartment is located On completion of electrical fitting (internal wiring and 7.0% 31. installation of switchboards) of the Apartment 32. Before Handing over of possession 5.0% TOTAL 100% In the event that the Allottee requests the Promoter not to undertake a specific milestone as per the aforesaid table in respect of the Apartment, it shall be deemed as though that particular milestone has been fulfilled by the Promoter, and the amounts due against the said milestone shall be paid immediately by the Allottee to the Promoter without any delay whatsoever in this regard. 17. It is clarified that the Sale Consideration shall be payable by the Allottee vide cheque / demand draft drawn in the name of “____________”, payable at Thane / through electronic transfer, as may be intimated from time to time by the Promoter. The Allottee represents and warrants that all payments made by the Allottee shall be duly realized in the time periods stipulated under this Agreement. 18. The Sale Consideration excludes taxes (consisting of tax paid or payable by way of GST and all levies, duties and cesses or any other indirect taxes which may be levied, in connection with the construction of and carrying out of the Real Estate Project and/or with respect to the Apartment and/or this Agreement). It is clarified that all such taxes, levies, duties, cesses (whether applicable/payable now or which may become applicable/payable in future) including GST and all other indirect and direct taxes, duties and impositions applicable or levied by the Central Government and/or the State Government and/or any local, public or statutory authorities/bodies on any amount payable under this Agreement and/or on the transaction contemplated herein and/or in relation to the said Apartment, shall be borne and paid by the Allottee alone, as and when the said amounts become due as per the applicable laws, without any delay whatsoever in this regard, and the Promoter shall not be liable to bear or pay the same or any part thereof. The Allottee shall make payment of the TDS on the Sale Consideration to the applicable authority and shall provide appropriate TDS certificates in this regard to the Promoter, within 15 days of making any such deduction. 19. The Sale Consideration is escalation-free, save and except escalations / increases, 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/ local bodies / Government from time to time. The Promoter undertakes and agrees that while raising a demand on the Allottee for increase in development charges, cost, or levies imposed by the competent authorities etc., the Promoter shall enclose the said notification / order / rule / regulation / demand, published/issued in that behalf to that effect along with the demand letter being issued to the Allottee, which shall only be applicable on subsequent payments unless otherwise stated. 13 20. The Promoter shall confirm the final carpet area that has been allotted to the Allottee after the construction of the Real Estate Project is complete and the Occupation Certificate is granted by the MHADA, by furnishing details of the changes, if any, in the carpet area, subject to a variation cap of 3% (three per cent). The total Sale Consideration payable on the basis of the carpet area of the Apartment shall be recalculated upon confirmation by the Promoter. If there is any reduction in the carpet area within the defined limit of 3%, then, the Promoter shall refund the excess money paid by the Allottee within 45 (forty- five) days. If there is any increase in the carpet area allotted to the Allottee, the Promoter shall demand additional amount from the Allottee towards Sale Consideration, which shall be payable by the Allottee prior to taking possession of the Apartment. It is clarified that the payments to be made by the Promoter/Allottee, as the case may be, under this clause, shall be made at the same rate per square meter as agreed in respect of the Sale Consideration as defined hereinabove. It is acknowledged and agreed by the Parties that the agreed rate shall be deemed to be the rate arrived at as per the computation hereinbelow: Originally agreed Sale Consideration / Originally agreed Carpet Area of the Apartment. 21. The Allottee hereby authorizes the Promoter to adjust/appropriate all payments made by the Allottee under any head(s) of dues against lawful outstanding, if any, in the name of the Allottee as the Promoter may in its sole discretion deem fit, and the Allottee undertakes not to object/demand/direct the Promoter to adjust the said payments in any manner. Any payments by the Allottee shall first be adjusted towards interest payable and any other due from the Allottee and the balance, if any, shall be adjusted against the payment which is due against the Sale Consideration. In case of delay in payment of any amounts as specified above, or in the payment of any installment of the Sale Consideration, the Allottee(s) shall be liable to pay interest @ the prevailing rate of State Bank of India Highest Marginal Cost of Lending Rate plus 2% thereon (“Interest Rate”) on the delayed payment from the due date of such payment till actual payment or realization thereof. 22. The Allottee acknowledges and agrees that the Allottee shall not be entitled to any rebate or discounted rates whatsoever in the event of any early payments that may be made by the Allottee prior to the stipulated dates under the payment schedule. 23. On a written demand being made by the Promoter upon the Allottee with respect to a payment amount (whether Sale Consideration or any other amount payable in terms of this Agreement), the Allottee shall pay such amount to the Promoter, within 7 (seven) days of the Promoter’s said written demand, without any delay, demur or default. 24. The Promoter shall be entitled to securities the Sale Consideration and other amounts payable by the Allottee under this Agreement (or any part thereof), in the manner permissible under the RERA Act, in favour of any persons including banks/financial institutions and shall also be entitled to transfer and assign to any persons the right to directly receive the Sale Consideration and other amounts payable by the Allottee under this Agreement or any part thereof. Upon receipt of such intimation from the Promoter, the Allottee shall be required to make payment of the Sale Consideration and other amounts payable in accordance with this Agreement, in the manner as intimated. Furthermore, the Allottee hereby acknowledges and agrees that the Promoter 14 shall have the right to raise finance/loan from any financial institution/bank by way of mortgage/charge of the undivided share of land in the said Apartment at any time during the course of construction, subject to the same being free from any encumbrance at the time of execution of the sale deed in respect of the said Apartment. 25. The Promoter hereby agrees to observe, perform and comply with all the terms, conditions, stipulations and restrictions if any, which may have been imposed by the MHADA and other concerned authorities at the time of sanctioning the said plans or thereafter and shall, before handing over possession of the Apartment to the Allottee, obtain the Occupation Certificate or Completion Certificate in respect of the said Apartment. 26. Time is of the essence for the Promoter as well as the Allottee. The Promoter shall abide by the time schedule for completing the said Apartment and handing over the Apartment to the Allottee, and the common areas, facilities and amenities in the Real Estate Project that may be usable by the Allottee. Notwithstanding anything to the contrary, the Promoter shall be entitled to extension of time for completion and handing over of the Apartment without the need to pay any compensation whatsoever on account of any delays that are occasioned in the said completion for any reasons not attributable to the Promoter, including but not limited to any defaults or breaches by the Allottee of its obligations under this Agreement, or for any Force Majeure reasons whatsoever. Similarly, the Allottee shall make timely payments of all instalments of the Sale Consideration and other dues payable by the Allottee and shall comply with and fulfil all its other obligations under this Agreement. 27. The Allottee hereby agrees, accepts and confirms that the Promoter proposes to develop the Real Estate Project by utilization of the full development potential. The Allottee acknowledges and agrees that the Architect and the structural Engineer of the Promoter shall decide the elevation, RCC drawings etc., and the Promoter shall construct the Real Estate Project as per the plans sanctioned by MHADA & MCGM and as per the specifications mentioned in ANNEXURE I. 28. In case the transaction being executed by this agreement between the promoter and the allottee is facilitated by the Registered Real estate agent, all amounts (including taxes) agreed as payable remuneration/fees/charges for services /commission/brokerage to the said Registered Real estate agent, shall be paid by the promoter/allottee/both, as the case may be, in accordance with the agreed terms of payment. DELAYS AND TERMINATION: 29. The Promoter shall ensure that the Apartment is ready to be handed over to the Allottee on or before 30th June 2024 (“Possession Date”). The Promoter shall be entitled to extension of time of a minimum of one year for giving delivery of the Apartment on the Possession Date, if the completion of the Real Estate Project is delayed on account of any or all of the following factors: - a. Any force majeure events like war, civil commutation, natural calamities or act of God or etc.; b. Any notice, order, rule, notification of the Government and/or other public or competent authority/court; 15 c. Any stay order / injunction order issued by any Court of Law, competent authority, MHADA, statutory authority; d. Any delay on behalf of the Government and/or other public or competent authority / MHADA; e. Delay in approval by concerned authority of plans or sanction of O.C. (Occupation Certificate) or sanction of required permission or sanction of other NOC like Fire, Water connection/Electric Connection/Drainage connection/Sewerage etc. from concerned competent Authority; f. Any change of norms or rules or regulation of Government or of any authority; g. Any delay or default on the part of the Allottee in complying with its obligations under this Agreement, including but not limited to any delays in making payments of the amounts due; h. Any other circumstances beyond the reasonable control of the Promoter, or that may be deemed reasonable by the Authority. i. Any Scarcity or shortage of construction materials, shortage of water and shortage of power supply etc. 30. If the Promoter fails to confirm that the Apartment is ready to be handed over by the Possession Date (save and except for the reasons as stated hereinabove), then the Allottee shall be entitled to either of the following: a. To call upon the Promoter by giving a written notice at the address provided by the Promoter (“Interest Notice”), to pay interest at the prevailing rate of State Bank of India Highest Marginal Cost of Lending Rate plus 2% thereon for every month of delay from the Possession Date (“the Interest Rate”), on the amounts paid by the Allottee towards the Sale Consideration till date. The interest shall be paid by the Promoter to the Allottee till the date of confirmation by the Promoter that the Apartment is ready to be handed over; OR b. The Allottee shall be entitled to terminate this Agreement by giving written notice of 30 days to the Promoter at the address provided by the Promoter (“Allottee Termination Notice”). In the event of failure on the part of the Promoter to confirm that the Apartment is ready to be handed over within 30 days from receipt of the Allottee Termination Notice (save and except for the reasons as stated hereinabove), this Agreement shall stand terminated and cancelled. The Promoter shall refund to the Allottee the amounts already received by the Promoter under this Agreement. The Promoter shall refund the aforesaid amounts only upon the Promoter having received the full sale consideration from the resale of the said Apartment and also simultaneously with the execution of the necessary deeds, documents and writings in respect of such cancellation, provided that such resale shall occur in not longer than nine (9) months. Upon the termination of this Agreement as stipulated under this sub-clause, the Allottee shall have no claim of any nature whatsoever on the Promoter and/or the said Apartment and/or the Attached Area and/or the car park and/or the Real Estate Project and/or the Real Estate Project, and the Promoter shall be entitled to deal with and/or dispose-off the said Apartment, the Real Estate Project in the manner that it deems fit and proper. 31. It is hereby agreed and understand that in the event of the Allottee opting for the remedy under Clause 30(a) hereinabove, the Allottee shall not subsequently be entitled to the remedy under Clause 30(b) till the expiry of the period/ tenure for payment of interest as per the aforesaid Clause 30(a). 16 32. The Allottee(s) declares and affirms that in case of joint purchase, their liabilities and obligations would be joint and several. The failure to pay by any one shall be deemed as failure to pay by both and all Allottee(s) shall be treated as one single person for the purpose of this Agreement and both shall be liable for the consequence jointly as well as severally. 33. In the event of any delay in payment by the Allottee, without prejudice to the right of the Promoter to charge interest as specified in Clause 21 hereinabove, and without prejudice to any other rights and remedies available to the Promoter: a. on the Allottee committing default in payment, or in case of non-realization of the amount of payment, on the due date of any amount due and payable by the Allottee to the Promoter under this Agreement (including its proportionate share of taxes levied by concerned local authority and other outgoings); and/or b. the Allottee committing breach of any of the terms and conditions of this Agreement c. any default by the Allottee under any agreement entered into with any bank or financial institution as per the provisions of Clause 54 hereinbelow, or in the event of termination of any such agreement entered into with any bank or financial institution as per the provisions of Clause 54 hereinbelow, the Promoter shall be entitled, at its sole discretion, to terminate this Agreement, without any reference or recourse to the Allottee. Provided that, the Promoter shall give notice of 15 (fifteen) days in writing to the Allottee (“Default Notice”) at the address provided by the Allottee, of its intention to terminate this Agreement with details of the specific breach or breaches of terms and conditions in respect of which it is intended to terminate the Agreement. 34. If the Allottee fails to rectify the breach or breaches mentioned by the Promoter within the period of the Default Notice, including making full and final payment of any outstanding dues together with interest thereon, then at the end of the Default Notice, the Promoter shall be entitled to terminate this Agreement by issuance of a written notice to the Allottee (“Promoter Termination Notice”) at the address provided by the Allottee. 35. Notwithstanding anything to the contrary contained herein, the Allottee acknowledges and agrees that if the Promoter has already had occasion to serve the Allottee with a Default Notice on two previous occasions under this Agreement for any reason whatsoever, in the event of occurrence of any further default as stated under Clauses 33(a), 33(b) or 33(c), the Promoter shall not be obliged to serve the Allottee with another Default Notice, and shall be entitled to directly issue the Promoter Termination Notice and terminate this Agreement forthwith. 36. On the receipt of the Promoter Termination Notice by the Allottee, this Agreement shall stand terminated and cancelled. On the termination and cancellation of this Agreement in the manner as stated in this sub-clause, the Promoter shall be entitled to forfeit 10% (Ten Percent) percentage of the Sale Consideration plus taxes as per the applicable laws as well as brokerage fees and any other expenses incurred by the Promoter for sale of the Apartment (“Forfeiture Amount”) as and by way of agreed genuine pre-estimate of liquidated damages, and not by way of penalty. The Promoter shall, after deduction of the Forfeiture Amount, refund the balance amount of the Sale Consideration to the Allottee, only upon the Promoter having received the sale consideration from the resale of the said Apartment. Upon the termination of this Agreement, the Allottee shall have no claim of any nature whatsoever on 17 the Promoter and/or the said Apartment and/or the Attached Area and/or the car park and/or the Real Estate Project, and the Promoter shall be entitled to deal with and/or dispose-off the said Apartment, the Real Estate Project in the manner that it deems fit and proper. 37. The Parties acknowledge and agree that the Allottee has presented a cancelled cheque to the Promoter at the time of execution of this Agreement, a copy of which is annexed hereto marked as ANNEXURE L (hereinafter referred to as the “Cancelled Cheque”). Notwithstanding anything to the contrary contained herein, in the event of termination of this Agreement for any of the reasons contemplated under the Agreement, and in the event of refund of any amounts having to be made to the Allottee by the Promoter as a result of such termination, such refund shall be made to the bank account as per the details provided in the aforesaid Cancelled Cheque. 38. In case of a loan being availed by the Allottee as per the provisions of Clause 54 hereinbelow, the Promoter shall be required to intimate the bank / financial institution that has disbursed such loan of such termination and enquire as to the account details for initiating the refund as stipulated in the Agreement. In case the bank / financial institution fails to inform the Promoter of such account details within 15 days of the written intimation by the Promoter, the Promoter shall be required to initiate the refund directly to the Allottee as per the account details provided in the aforesaid Cancelled Cheque. Thereafter, the responsibility and liability to reimburse the said amounts to the bank / financial institution from which the Allottee has obtained the loan shall vest solely with the Allottee, and the Promoter shall have no liability whatsoever in this regard. 39. The Allottee acknowledges and agrees that the refund of amounts to the bank / financial institution providing the loan, or to the account details provided in the Cancelled Cheque, shall be deemed to constitute a refund of all amounts due to all Allottees under this Agreement, and the Promoter shall not be liable to make any separate disbursal of amounts to each of the Allottees herein. TAKING OVER OF POSSESSION: 40. Upon obtainment of the Occupation Certificate from the MHADA and upon payment by the Allottee of the entire Sale Consideration and all other amounts due and payable in terms of this Agreement, the Promoter shall offer possession of the said Apartment to the Allottee in writing (“Possession Notice”). 41. Within 15 days from the receipt of the Possession Notice from the Promoter, the Allottee shall take possession of the Apartment from the Promoter by executing necessary indemnities, bonds, undertakings, deeds. and such other documentation as may be prescribed by the Promoter, and the Promoter shall give possession of the said Apartment to the Allottee. 42. Within 15 (fifteen) days of receipt of the Possession Notice, the Allottee shall be liable to bear and pay its proportionate share i.e. in proportion to the carpet area of the Apartment, the outgoings in respect of the Real Estate Project including inter-alia, local taxes, betterment charges, other indirect taxes of every nature, or such other levies by the MHADA or other concerned local authority and/or Government, all charges on actual basis towards electricity, water and sewerage charges, insurance, salaries of watchmen, sweepers, maintenance charges for the upkeep and maintenance of the Real Estate Project Amenities 18 (excluding internal maintenance of the said Apartment) etc., and all other expenses necessary and incidental to the management and maintenance of the Real Estate Project. The Allottee shall make an interest free advance payment to the Promoter towards society maintenance charges for a period of 24 months at the time of taking possession of the Apartment @ Rs. 6.5 / sq.ft. of the carpet area of the Apartment, or at such other rate as may be decided by the Promoter. For the aforesaid period of 2 years, the Promoter shall appropriate the aforesaid advance payment, as well as any further payments based on the proportionate share of the carpet area of the Apartment towards maintenance charges. The running of the Society maintenance shall remain with the Promoter until the Society Conveyance is duly executed and registered. On execution of the Society Conveyance, the deposits as per Clause 43 hereinbelow, less deductions as provided for in this Agreement shall be paid over by the Promoter to the Society. It is hereby understood and agreed that the Allottee shall be responsible for making payment towards the aforesaid maintenance charges immediately upon receipt of the Possession Notice, irrespective of whether the Allottee takes or fails to take over possession of the Apartment within the time period stipulated under this clause. Subsequent to the Society Conveyance, the Allottee shall be responsible to continue making payments towards the aforesaid amounts to the Society. 43. The Allottee shall, before delivery of possession of the said Apartment in accordance with the clause above, deposit the following amounts with the Promoter: a. Rs.600/- for share money, application entrance fee of the Society b. Such amounts as per Clause 42 towards deposit towards maintenance of the Society c. Such amounts towards corpus fund of society as decided by society and intimated to the allottee prior to delivery of possession and not exceeding Rs 1,00,000/-. d. Rs 10,000/- towards deposits for electric meter, water meters, etc. 44. The Allottee shall pay to the Promoter all sums as may be applicable for meeting all legal costs, charges and expenses, including professional costs of the attorney-at-law / advocates of the Promoter in connection with this Agreement and the transaction contemplated hereby, immediately upon receipt of intimation in this regard by the Promoter. 45. It is hereby understood and agreed that the Allottee will not be entitled to transfer the Apartment to any other person(s) at any point from the date of execution of this Agreement and for a period of 36 months (“Lock-in Period”) from the date of allotment and payment of 90 % of the Sale Consideration (“Lock-in Amount”) . The Allottee agrees and undertakes that the Allottee shall not transfer the Apartment to any other person(s) during this Lock- in Period and upon the payment of the Lock-in Amount. The Promoter reserves the right to allow such transfer at its sole discretion during and after the Lock-in Period and payment of the Lock-in Amount, and on payment of such charges including transfer fee by the Allottee constituting 5% of the Sale Consideration, or any other amount as per the prevailing policy of the Promoter as it may decide from time to time. 46. If, within a period of 5 (five) years from the date of handing over of the Apartment to the Allottee, the Allottee brings to the notice of the Promoter any structural defect in the Apartment, then, wherever possible such defects shall be rectified by the Promoter at its own cost. It is clarified that the Promoter 19 shall not be liable for any such defects if the same have been caused by reason of the willful default and/or negligence of the Allottee and/or any other allottees in the Real Estate Project and/or is caused by any works undertaken by the Allottee and/or any other allottees in their respective premises in the Real Estate Project. In this connection, it is reiterated that the Allottee shall use the Apartment or any part thereof or permit the same to be used only for residential purposes, and shall use the Car parking space, if allotted only for purpose of parking of the Allottees’s vehicle. 47. Within 90 days of the Apartment being ready for taking over of possession, the Allottee shall submit an application to become a member of the Society, in which the allottees of the premises in the Real Estate Project alone shall be joined as members. 48. For this purpose, the Allottee shall from time to time sign and execute the application for membership and all other papers, forms, writings and documents necessary for becoming a member of the Society, including the bye- laws of the Society and shall duly fill in, sign and return the same to the Promoter within 7 (seven) days of the same being made available to the Allottee. No objection shall be taken by the Allottee if any changes or modifications are made in the draft/final bye-laws of the Society, as may be required by the Registrar of Co-operative Societies or any other competent authority. 49. The name of the Society is Nehru Nagar Priyadarshan Co-Operative Housing Society Ltd. The Society shall admit all purchasers of flats and premises in the Real Estate Project as members, in accordance with its bye-laws. The Promoter shall be entitled, but not obliged to join as a member of the Society in respect of unsold premises in the Real Estate Project, if any. Subsequent to execution of the Society Conveyance, the Promoter shall continue to be entitled to such unsold premises and to undertake the marketing etc. in respect of such unsold premises towards which the Promoter has the rights as per the Development Agreement, Supplemental Agreement and Power of Attorney specified in the Recitals. The Promoter shall not be liable or required to bear and/or pay any amount by way of contribution, outgoings, deposits, transfer fees/charges and/or non-occupancy charges, donation, premium, or any amount towards compensation whatsoever to the Society for the sale/allotment or transfer of the unsold premises in the Real Estate Project, save and except the municipal taxes at actuals (levied on the unsold premises). 50. Subsequent to the execution of the Society Conveyance, the Society shall be responsible for the operation and management and/or supervision of the Real Estate Project, and the Allottee shall extend necessary co-operation and shall do the necessary acts, deeds, matters and things as may be required in this regard. PURCHASE OF AN APARTMENT BY A NON-RESIDENT 51. The Non-Resident Allottee agrees that all remittance for acquisition/transfer of the said Apartment and any refund, etc. shall be made in accordance with the provisions of the Foreign Exchange Management Act, 1999 or any statutory enactments or amendments thereof, and the rules and regulations of the Reserve Bank of India or any other applicable law. It shall be the sole responsibility of the Allottee who is a nonresident / foreign national of Indian origin / foreign national / foreign company (“Non-Resident Allottee”) to abide 20 by the same. The Promoter shall not be liable in any manner for non- compliance by such Non-Resident Allottee of any laws applicable to Non- Resident Indians, or PIO’s, or foreign nationals who are resident in India, or foreign companies, as the case may be. COVENYANCE TO THE SOCIETY: 52. Within 12 months from (a) the sale of all the apartments in the Real Estate Project and receipt of the full consideration and (b) the date of issuance of the Full Occupation Certificate with respect to the same, the Real Estate Project along with the common areas, facilities and amenities shall be conveyed to the Society vide a registered indenture of conveyance, and the Promoter shall cause to be transferred to the Society all the right, title and interest of the owners in the Real Estate Project (“Society Conveyance”). The Society shall be required to join in execution and registration of the Society Conveyance. The costs, expenses, charges, levies and taxes on the Society Conveyance and the transaction contemplated thereby including stamp duty and registration charges shall be borne and paid by the Society alone. Pursuant to the Society Conveyance, the Society shall be responsible for the operation and management and/or supervision of the Real Estate Project including any common areas, facilities and amenities, and the Promoter shall not be responsible for the same. LOAN AND MORTGAGE: 53. If the Allottee enters into any loan/financing arrangement with any bank/financial institution, such bank/financial institution shall be required to disburse/pay all such amounts due and payable to the Promoter under this Agreement, in the same manner detailed in the “Payment Schedule” clause and the other relevant clauses of this Agreement (which will not absolve the Allottee of its responsibilities under this Agreement). 54. The Allottee shall be entitled to avail loan from a bank/financial institution and to mortgage the Apartment by way of security for repayment of the said loan to such bank/financial institution, with the prior written consent of the Promoter. The Allottee shall also be required to obtain the prior written consent of the Promoter in case of transfer of the said loan at any stage. In the event that the Allottee is required to take out any insurance or comply with any other obligation as per the agreement being entered into by the Allottee with such bank/financial institution, the Allottee shall furnish documentary evidence, to the satisfaction of the Promoter, of having fulfilled such compliances. 55. The Promoter shall be entitled to refuse permission to the Allottee for availing and / or transferring any such loan and for creation of any such mortgage/charge, in the event the Allottee has defaulted in making payment of the Sale Consideration and/or other amounts payable by the Allottee under this Agreement. 56. All the costs, expenses, fees, charges and taxes in connection with procuring and availing of the said loan, mortgage of the Apartment, servicing and repayment of the said loan, and any default with respect to the said loan and/or the mortgage of the Apartment, shall be solely and exclusively borne and incurred by the Allottee. The Promoter shall not incur any liability or obligation (monetary or otherwise) with respect to such loan or mortgage. 21 57. The agreements and contracts pertaining to such loan and mortgage shall not impose any liability or obligation upon the Promoter in any manner and shall be subject to and shall ratify the right and entitlement of the Promoter to receive the balance Sale Consideration and other amounts payable by the Allottee under this Agreement. 58. Notwithstanding anything to the contrary contained herein, in the event of termination of this Agreement for any of the reasons contemplated under the Agreement, the right of the Promoter to offer the Apartment for sale to another allottee shall be completely unfettered, and the Promoter shall not be required to obtain any prior NOC or any other consent whatsoever from any bank / financial institution from which the Allottee may have obtained a loan prior to any such sale by the Promoter. At most, the Promoter shall merely be required to inform the said bank / financial institution of such termination of the Agreement. The Allottee shall be solely responsible for ensuring that the said bank / financial institution is fully apprised of these rights of the Promoter. 59. REPRESENTATIONS AND WARRANTIES OF THE PROMOTER: The Promoter hereby represents and warrants to the Allottee as follows, subject to what is stated in this Agreement and all its Annexures, subject to what is stated in the Title Certificate, and subject to the RERA Certificate: a. The Promoter has clear and marketable title 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 Real Estate Project. b. The Promoter has lawful rights and requisite approvals from the competent authorities to carry out development of the Real Estate Project and shall obtain requisite approvals from time to time to complete the development of the Real Estate Project. c. There are no encumbrances upon the Real Estate Project as on date, save and except for those referred to in this Agreement. d. There are no litigations pending before any court of law with respect to the Real Estate Project except those disclosed to the Allottee, or which may be disclosed either through the RERA website or through a written notice in this regard. e. All approvals, licenses and permits issued by the competent authorities with respect to the Real Estate Project, 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 Real Estate Project, 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 Real Estate Project. f. 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. g. 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 and the Apartment, which will, in any manner, affect the rights of Allottee under this Agreement. h. The Promoter confirms that the Promoter is not restricted in any manner whatsoever from selling the Apartment to the Allottee in the manner contemplated in this Agreement. i. At the time of execution of the Society Conveyance, the Promoter shall handover lawful, vacant, peaceful, physical possession of the common areas of the Real Estate Project to the Society. 22 j. 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 Real Estate Project to the competent authorities till the Society Conveyance and thereupon shall be proportionately borne by the Society. k. 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 Project Land) has been received or served upon the Promoter in respect of the Project Land and/or the Real Estate Project except those disclosed to the Allottee. 60. REPRESENTATIONS AND WARRANTIES OF THE ALLOTTEE: The Allottee, with the intention to bring all persons into whosoever hands the Apartment and/or its rights, entitlements and obligations under this Agreement, may come, hereby covenants with the Promoter as follows: a. The Allottee shall maintain the said Apartment at the Allottee's own cost in good and tenantable repair and condition from the date of taking over of possession of the said Apartment, and not do or suffer to be done anything in or to the Real Estate Project which may be against the rules, regulations or bye-laws, or change/alter or make any additions in or to the Real Estate Project in which the Apartment is situated, or to the said Apartment itself or any part thereof, without the consent of the local authorities and the Promoter. b. The Allottee shall not store in the Apartment any goods which are of a hazardous, combustible or dangerous nature or are so heavy as to damage the construction or structure of the Real Estate Project in which the Apartment is situated, or the storing of which goods is objected to by the concerned local or other authority, and shall take due care while carrying heavy packages which may damage or are likely to damage the staircases, common passages or any other structure of the Real Estate Project, including the entrances of the Real Estate Project, and in case any damage is caused to the Real Estate Project 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. The Allottee shall carry out at its own cost with the concurrence / consent of the Promoter all internal repairs to the 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 Real Estate Project 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. The Allottee shall not 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 whatsoever nature in or to the Apartment or any part thereof, nor any alteration in the elevation and outside colour scheme of the Real Estate Project, 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 Real Estate Project, and shall not chisel or in any other manner cause damage to columns, beams, walls, slabs, RCC, pardis or other structural members in the 23 Apartment without the prior written permission of the Promoter and/or the Society. e. The Allottee shall not do or permit to be done any act or thing which may render void or voidable any insurance of the Real Estate Project or any part thereof or whereby any increased premium shall become payable in respect of the insurance. f. The Allottee shall not throw dirt, rubbish, rags, garbage or other refuse or permit the same to be thrown from the Apartment in the compound and/or the other common areas of the Real Estate Project. g. The Allottee shall pay to the Promoter, within 15 (fifteen) days of demand by the Promoter, its share of security deposit demanded by the concerned local authority or Government for giving water, electricity or any other service in connection with the Real Estate Project. h. The Allottee will bear and pay in a timely manner and forthwith, all amounts, dues, taxes, and installments of the Sale Consideration, as required to be paid under this Agreement. i. The Allottee shall not change the user of the said Apartment without the prior written permission of the Promoter and Society. j. The Allottee shall not let, sub-let, transfer, assign, sell, lease, give on leave and license, or part with interest, benefit or possession of the Apartment, or dispose of or alienate otherwise howsoever, the said Apartment and/or its rights, entitlements and obligations under this Agreement, until all the dues, taxes, deposits, cesses, Sale Consideration and all other amounts payable by the Allottee to the Promoter under this Agreement, are fully and finally paid together with applicable interest thereon if any. In the event the Allottee is desirous of transferring the said Apartment and/or its rights under this Agreement prior to making such full and final payment, then, the Allottee shall be entitled to effectuate such transfer only with the prior written permission of the Promoter and in the manner as set out hereinabove in this Agreement. k. The Allottee shall observe and perform all the rules and regulations which the Society may adopt and the additions, alterations or amendments thereof that may be made from time to time for protection and maintenance of the Real Estate Project and the said Apartment 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 the Government and other public bodies. The Allottee shall also observe and perform all the stipulations and conditions laid down by the Society regarding the occupancy and use of the said Apartment in the Real Estate Project and shall pay and contribute regularly and punctually towards the taxes, expenses or other outgoings in accordance with the terms of this Agreement. l. 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 Apartment and the Real Estate Project or any part thereof to view and examine the state and condition thereof. Furthermore, for the purpose of making, laying down, maintaining, repairing, rebuilding, cleaning, lighting and keeping in order and good condition all services, drains, pipes, cables, water covers, gutters, wires, walls, structures or other conveniences belonging to or serving or used for the Real Estate Project, the Promoter and their surveyors and agents, with or without workmen and others, shall be permitted at reasonable times to enter into the said Apartment or any part thereof and undertake the necessary works. m. The Allottee shall not affix any fixtures or grills or dish antennas on the Real Estate Project or any part thereof for the purposes of drying clothes or for any other purpose and not to have any laundry drying outside the said Apartment. For fixing grills on the inside of the windows, the standard design for the same 24 shall be obtained by the Allottee from the Promoter and the Allottee undertakes not to fix any grill having a design other than the standard design approved by the Promoter. If the Allottee has affixed fixtures or grills or dish antennas on the exterior of the said Apartment for drying clothes or for any other purpose, or if the Allottee has affixed a grill having a design other than the standard approved design, the Allottee shall be liable to pay a sum of Rs.51,000 /- (per grill per month / fixture) to the Promoter / the Society, as the case may be, from the time of fixing the same till the time of removal of the same. n. The Allottee shall not install a window air-conditioner within or outside the said Apartment, except at the designated location to be indicated by the Promoter. If the Allottee affixes a window air conditioner or the outdoor condensing unit outside the said Apartment, the Allottee shall be liable to pay a sum of Rs.51,000/- per AC per month to the Promoter / the Society, as the case may be, from the time of fixing the same till the time of removal of the same. o. The Allottee shall not create any hardship, nuisance or annoyance to any other allottees in the Real Estate Project. p. The Allottee shall not to do either by itself or through any other person, anything which may or is likely to endanger or damage the Real Estate Project or any part thereof, the garden, greenery, fencing, saplings, shrubs, trees and/or the installations for providing facilities in the Real Estate Project including any electricity poles, cables, wiring, telephone cables, sewage line, water line, compound gate etc. or any common areas, facilities and amenities. If the Allottee or members of the Allottee family or any servant or guest of the Allottee commits default of this sub-clause then the Allottee shall immediately take remedial action and shall also become liable to pay a sum of Rs.10000/- to the Promoter / the Society, as the case may be, on each such occasion. q. The water connection shall be subject to availability and the rules, regulations and bye laws of the competent authority, and the Promoter shall not be held responsible for the same. The Allottee shall not raise any objection and or claims against the Promoter in connection with the unavailability of supply of water and shall not raise any objection and/or claims regarding liability to bear and pay for alternate arrangements for water supply through tankers made for its convenience. r. The Allottee is not prohibited from entering into this Agreement and/or to undertake the obligations, covenants etc. contained herein. s. The Allottee has not been declared and/or adjudged to be an insolvent, bankrupt etc. and/or ordered to be wound up or dissolved, as the case may be. t. The Allottee is not sentenced to imprisonment for any offence. u. The Allottee shall not be entitled to enter into the Project Land or any part of the Real Estate Project prior to the handing over of possession of the Apartment without obtaining the prior written permission from the Promoter in this regard. v. The Allottee shall be liable to pay compensation by way of liquidated damages for any damage caused or expense having to be borne by the Promoter in respect of the Real Estate Project as a result of any act of the Allottee. w. Nothing contained in this Agreement is intended to be nor shall be construed as a grant, demise or assignment in law, of the said Apartment or the Real Estate Project or any part thereof. The Allottee shall have no claim save and except in respect of the said Apartment hereby agreed to be sold to him and all open spaces, parking spaces, lobbies, staircases, terraces, recreation spaces and all other areas and spaces and lands will remain the property of the Promoter as hereinbefore mentioned until the Society Conveyance. x. The Allottee shall not be entitled to enter any part of the Real Estate Project or the Project Land prior to the conveyance of the Apartment without obtaining the prior written approval of the Promoter. 25 y. In the event of any default or breach by the Allottee of any of its obligations under this Agreement, resulting in any costs, expenses, losses, damages, suits, actions, claims or proceedings having to be suffered or initiated by the Promoter, the Allottee shall be solely liable to compensate the Promoter for all such costs, expenses, losses or damages that may be suffered by the Promoter in this regard, as well as all legal costs, charges and expenses, including professional costs of the attorney-at-law / advocates of the Promoter, in respect of such suits, actions, claims or proceedings. 61. RIGHTS OF OTHER ALLOTTEES: The Allottee acknowledges the following rights of other allottees of units/premises in the Real Estate Project: a. Full right and liberty for all persons who own premises in the Real Estate Project (together with all persons authorized or permitted by such persons) at all times by day or by night and for all purposes to go, pass and repass the staircases and the passage inside and outside the Real Estate Project. b. Full right and liberty to the persons referred to supra in common with all other persons with or without motor cars or other permitted vehicles at all times, day and night, and for all purposes to go, pass and repass over the land appurtenant to the Real Estate Project constructed in the Project Land. c. The right to subjacent and lateral support and shelter and protection from the other parts of the aforesaid Real Estate Project and from the side and the roof thereof. d. Right of passage for the persons referred to supra in common with all other persons and their agents, licensees or workmen to the other parts of the Real Estate Project at all reasonable times, on notice, to where water tanks are situated for the purpose of cleaning, repairing or maintaining the same. e. Right of passage for such persons, their agents or workmen to the other parts of the Real Estate Project at all reasonable times, on notice to enter, for the purpose of repairing, cleaning, maintaining or renewing any such sewers, drains and water courses, cables, pipes and wires causing as little disturbance as possible and making good any damages caused. f. The right for the persons referred to supra in common with all other persons, and their agents, licensees or workmen and others, at all reasonable times on notice to enter into and upon other parts of the Real Estate Project, for the purpose of repairing, maintaining, renewing, altering or rebuilding, giving subjacent or lateral support, shelter or protection to the construction thereof. g. Right to lay cables or wires through common walls or passages for telephones, video or computer installations respecting the equal rights of the other allottees. h. The right to do all or any other acts aforesaid without notice in case of emergency. i. The special privileges or amenities such as a covered car parking facility or uncovered car parking facility etc., if any allotted, shall be enjoyed by all such allottees exclusively without interference by anyone, as an inseparable and integral part of the premises at all times even in the case of subsequent re- constructions. MISCELLANEOUS PROVISIONS: 62. This Agreement, along with its schedules and annexures, constitutes the entire Agreement between the Parties with respect to the subject matter hereof and supersedes any and all understandings, any other agreements, booking form, 26 letter of acceptance, allotment letter, correspondences, arrangements whether written or oral, if any, between the Parties in regard to the said Apartment, as the case may be. 63. This Agreement may only be amended through written consent of the Parties. 64. 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 Real Estate 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. 65. If any provision of this Agreement shall be determined to be void or unenforceable under the RERA Act or the RERA Rules or under other applicable laws, such provisions of this 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 the RERA Act or the RERA Rules or the applicable laws, 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. 66. Wherever in this Agreement it is stipulated that the Allottee has to make any payment, in common with other allottees in the Real Estate Project, the same shall be in proportion to the carpet area of the Apartment to the total carpet area of all the other premises/units/areas/spaces in the Real Estate Project. 67. Both Parties agree that they shall execute, acknowledge and deliver to the other such instruments and take such other actions, in addition to the instruments and actions specifically provided for herein, as may be reasonably required in order to effectuate the provisions of this Agreement or of any transaction contemplated herein or to confirm or perfect any right to be created or transferred hereunder or pursuant to any such transaction. 68. All notices and communications required or permitted under this Agreement shall be in writing and any communication or delivery shall be deemed to have been duly made if actually delivered, or after 3 days of mailing, if mailed by registered post addressed, to the addresses set forth hereinabove, or to any other address as informed by either Party in writing atleast 7 days in advance, or if sent by email communication to the addresses specified in writing by either Party. The Allottee acknowledges that no verbal communication or commitment whatsoever made by or on behalf of the Promoter shall be binding upon the Promoter, and the Allottee shall be obliged to ensure that all such communications are received in writing only from the authorized representative of the Promoter, that is, Mr. Prateek S. Patil. The Allottee understands and agrees that the Promoter shall not be bound by any communication or commitment that is not made in writing by its authorized representative indicated hereinabove. 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 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. In the event of joint Allottees, all communications shall be sent by the Promoter to the Allottee whose name appears first and at the address given by the said Allottee which shall for all intents and purposes be considered to constitute service upon all the Allottees. 27 69. No forbearance, indulgence or relaxation or inaction by either Party at any time to require performance of any of the provisions of these presents shall in any way affect, diminish or prejudice the rights of such Party to require performance of that provision. Any waiver or acquiescence by such Party of any breach of any of the provisions of these presents by the other Party shall not be construed as a waiver or acquiescence of any continuing or succeeding breach of such provisions, or a waiver of any right under or arising out of these presents, or acquiescence to or recognition of rights and/or position other than as expressly stipulated in these presents. 70. The execution of this Agreement shall be complete only upon its execution by the Promoter or through its authorized signatory at the Promoter's office, or at some other place, which may be mutually agreed between the Promoter and the Allottee, Pursuant to the execution of this Agreement, the said Agreement shall be registered. The Parties shall present this Agreement at the applicable registration office within the time limit prescribed by the Registration Act, 1908. The charges towards stamp duty fees and registration charges of this Agreement and all out of pocket costs, charges and expenses on all documents for sale and/or transfer of the said Apartment shall be borne by the Allottee alone. 71. Any dispute or difference between the Parties in relation to this Agreement and/or the terms hereof shall be settled amicably. In case of failure to settle such dispute amicably, such dispute or difference shall be referred to the Authority as per the provisions of the RERA Act and the RERA Rules. 72. This Agreement shall be governed by and construed with solely in accordance with the laws of India in every particular, including formation and interpretation. Any action arising out of or pertaining to this Agreement shall be initiated and maintained only in the competent Courts at Mumbai, which shall have exclusive jurisdiction over all issues arising out of or in connection with this Agreement. 73. The Parties hereto agree that, in this Agreement, unless the context otherwise requires, or where specified otherwise: a. Reference to any law, statute or statutory provision shall be construed as including a reference to that law, statute or statutory provision as from time to time enacted, amended, modified, extended or re-enacted. b. Reference to any gender shall be equally applicable to all genders, as the context may require. c. References in this Agreement to Schedules and Annexures are to Schedules and Annexures in or to this Agreement, as the same may, from time to time, be amended, varied, supplemented or novated, unless otherwise specified. The words “hereof”, “herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement, unless otherwise indicated. The words “include” ‘including’ and “among other things” shall be deemed to be followed by “without limitation” or “but not limited to” whether or not they are followed by such phrases or words of like import. Time shall be the essence of this Agreement wherever there is any reference to any period of time, or any period of time is implied in the context, whether or not such references/implications are followed by such phrases or words of like import. d. References to writing include printing, typing, lithography and other means of reproducing words in visible form. 28 e. The Recitals of this Agreement form a part and parcel of this Agreement and shall be read as statement of the Parties, leading up to the execution of this Agreement and shall be interpreted accordingly. f. Headings in this Agreement have been used only for the purposes of convenience and shall not affect or be used for the interpretation of this Agreement. g. All measurements referring to area are in square meters (sq.mtrs.), hectares /ares, and all units referring to measurement are in the metric system, unless otherwise specified. 74. All the payments towards the Flat consideration and GST shall be made in the below-mentioned provided Bank accounts only, by Cheque/RTGS/NEFT/IMPS /DD- a . The Bank account details for payment of Flat consideration is as follows: i. Beneficiary Name: ii. Account No : iii. IFSC Code : iv. Bank Name : v. Branch Name : b . The Bank account details for payment of GST is as follows: i. Beneficiary Name: ii. Account No : iii. IFSC Code : iv. Bank Name : v. Branch Name : The payments made other than these accounts may result in loss of the Purchaser/ incoming member. IN WITNESS WHEREOF parties hereinabove named have set their respective hands and signed this Agreement for sale at THANE in the presence of attesting witness, signing as such on the day first above written. SCHEDULE OF THE PROPERTY FIRST SCHEDULE (Referred above as “THE PROJECT LAND”) All that part and parcel non-agricultural land or ground at 229 & 267 and C.T.S. No.11(part) & 12(part) of Village- Kurla being part of MHADA land, Kurla, Nehru Nagar, Mumbai - 400 024, in the Registration Sub-District of Kurla, Mumbai Suburban District, admeasuring 800.05 sq.mtrs. alongwith additional tit bit land of 74.78 sq. mtrs. And R.G. Plot hang area of 255 sq.mtrs or more as per the actual demarcation on site by Mhada, the area totaling to 1129.83 sq. mtrs. (as per MHADA NOC dated 07.08.2018 and as per Lease Deed – 800.05 29 sq.mtrs. +Tit Bit Land – 63.37 sq.mtr. +RG Area- 255 Sq.Mtrs) (without FSI) of “Nehru Nagar Priyadarshan Co.Op.Hsg.Soc.Ltd.”, Building No. 37, of Village – Kurla, situated at Nehru Nagar, Kurla(E ), Mumbai – 400 024, and bounded as follows : That is to say :- On or towards the North by : 90ft. Wide Road On or towards the South by : 40ft. Wide Road On or towards the East by : Proposed SRA Project On or towards the West by : Building no. 35 SECOND SCHEDULE (Referred above as “APARTMENT”) The Residential Flat bearing number __________ having _______________ sq. mtrs. RERA carpet area on ____th floor of Building “PRIME TOWER” in the Project “PUNEET PRIME Phase _______ Floors ____to ____” registered under MAHARERA bearing registration No. ________________ to be constructed on the said Project Land and more particularly described in the Schedule of the Property written hereinabove. IN WITNESS WHEREOF the Parties hereto have signed this Agreement on this the _____ day of ____________, 2019. SIGNED AND DELIVERED: FOR M/S PUNEET BUILDERS (PARTNER) PROMOTER In the presence of Witnesses: - 1. 2. SIGNED AND DELIVERED BY: 1.Mrs. ________________________ 2. Mr. ________________________ 30 ALLOTTEE/S In the presence of Witnesses:- 1. 2. 31