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Terms & Conditions
Application
Rahman Developers cordially accept application from Interested buyers of flats and shops of the specific mentioned in this brochure. Interested buyer(s) will submit application in prescribe form supplied by the company duly signed by the investors(s0 along with 15% Booking money and other necessary documents. The company has the right the accept or reject any application without assigning any reason whatsoever. Investor willing to pay one time payment or a huge amount in one time will be given preference. After acceptance of the application an agreement in the prescribed form is to be executed.
Allotment
Allotment will be first come first served basis. Upon acceptance of Application, Earnest Money, Down Payment and other necessary papers, Rahman Developers Ltd. will issue an allotment letter in favor of the applicant. This will include the payment mode, which the investor should follow on receiving the allotment letter. Investor(s0 willing to make one time payment will be rewarded with substantial rebate rate discount @5% will be allowed. The investor is not entitled to transfer the apartment to third party till the apartment handed over to them.
Payment terms
After payment of 15% of the total cost(including car parking), the balance amount is to be paid by quarterly installment to be paid within 2(two) years from the date of signing of the agreement. It must be mentioned here that timely complet6ion of the project is e4ntirely depends on the timely payment of the investors installments. So, if an allotted fails to pay 2(two) c consecutive installments, the allotment will be cancelled. And the agreement will be terminated. Maximum 2(two) defaulted installments may accepted on payment of delay charge 2% per month on the defaulted amount. Incase of cancellation of allotment his deposited amount will be returned after resale of the flat/shop but 15% of the deposited amount will be forfeited. All payments should be make by A/C payee cheque or Bank Draft or Pay Order or Cash in favor of Rahman Developers Ltd.
Owner's Association
The investor must undertake to become a member of the Owner's Association, which will be formed by the owners of the apartment with the view to maintaining the general affairs of the complex for common interest. Each apartment must initially deposit TK. 10,000/- to the reserve fund.
Rahman Developer's Right
The company has the right to accept or reject any application for allotment. It also reserves the right to make changes in both Architectural design of the project if necessary. Limited change can be made in specifications for overall interest of the project.
Project Handover
The possession to the apartment will be made on or before December'2007 except for reasons beyond control of Rahman Developers Ltd. viz Force maure, Natural calamities, political disturbances, strikes, Acts of God etc. this hand over will only be made after receiving the installments in full including cost of car park.
Transfer of Ownership
Proportionate share of indivisible land as well as apartment will be registered in favor of each investor as per the current rules and regulations.
Utility Connection
Connection fee, security deposit for water, gas electricity and incidental costs are not included in the apartment price. Rahman Tower makes these payment directly to the concerned authorities and the investor shall reimburse the amount on actual basis to Rahman Tower.