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General Terms & Conditions

1. PURCHASER shall submit the Application in the prescribed form duly signed by him/her along with the earnest money. Company reserves the right to accept or reject any application/Allotment without assigning any reason.

2. The PURCHASER shall declare that he/she is solvent enough to purchase the demised property as per the terms and conditions out lined by the company.

3. On acceptance of application, and receipt of the earnest money and the down payment, Company will issue a Preliminary Allotment Letter to the PURCHASER on receipt of which he/she shall start making payments as per the Payment Schedule. Allotment will be made on 'first-come-first-serve' basis. The PURCHASER shall sign a DEED OF AGREEMENT within 30 (Thirty) days from the date of issuance of the allotment letter which will be a safeguard for the interests of the PURCHASER and as well as for the Company. The allotment shall be effective only after realization of the payments of installments and other charges in full to the company.

 4. All payments shall be made through Pay Order/Bank Draft or A/C payee cheques in favour of "Xenovalley Model Town (Pvt.) Ltd". Bangladeshi's residing abroad shall remit payments through TT or DD to the same account.

 5. The PURCHASER must strictly follow the payment schedule. Company may issue remainder letters to the PURCHASER for the delay in payments beyond due date. The PURCHASER is liable to pay a Delay Charge @3% per month on the defaulted payments. If the payment is delayed beyond 60 (sixty) days Company shall have the right to cancel the allotment. In the event of cancellation of allotment or surrender of allotted property, due refund will be made only after deducting 5% (Five Percent) of Total Price of that property and realizing the required amount for refund from the new PURCHASER of the same.

 6. The PURCHASER being known and understood about the provisions and limitations of the selective-class private home township as to be provided in the PINK CITY (Phase III) likewise the other private home townships commonly built in the cities of the developed countries, shall declare and affirm that he/she shall strictly follow the rules and regulations of this township and shall neither change, alter or modify the design and plan of his/her home which affects the external configuration of the home, nor he/she shall construct, erect or build any kind of object or establishment within his/her premise or outside the premises which might affect the landscape configuration of the said township.

 7. Company reserves the right to make any change in the design both Architectural and Structural of the building if it is necessary and expedient in the interest of the project. The PURCHASER, however, may request for any interior modification (without changing the location and orientation of the Stairs, Bathrooms & Kitchen) for his/her demised House in writing, but Company reserves the right to accept or reject the Purchaser’s request.

 8. The possession of the demised property in the PINK CITY (Phase III) will be handed over within 24-30 months from the date of commencement of the construction work with a 6 months grace period except for the reasons beyond control of the Company such as force majeure, natural calamities, political disturbances, stricks, acts of God or economic conditions, etc. This handover shall only be made after payment of installments and other charges in full.

 9. The PURCHASERS shall bear the Utilities and Service Charges such as security deposits, Taxes, Vats, fees, miscellaneous charges and other charges and costs payable for getting Gas, Water & Sewerage, Electricity  connections, individual home/shop plan approval from RAJUK etc. for the demised property in addition to the individual price of the home. The Company will make these payments directly to the authorities concerned and the PURCHASER shall pay the same to the Company.

 10. Transfer of Ownership of the demised HOME/SHOP along with the demarcated land will be registered in favor of the PURCHASER as per the current rules and regulations of the country only after completion of its construction and finishing works in all aspects. Under no circumstances the possession of the demised HOME/SHOP shall be delivered to the PURCHASER before the completion of its construction and development in all aspects. Nor shall the possession of the demised HOME/SHOP be given to the PURCHASER unless all payments required to be made in full according to the payment schedule as mentioned in the deed of agreement. All the costs and charges pertaining to transfer of ownership such as stamp duties, fees, Tax, Vat, documentation charges, incidental charges etc. shall be borne by the PURCHASER.

 11. The PURCHASER shall be willing to become a member of the Owner's Association comprising of the other owners of this estate for effective management and maintenance of the township. Each home/ plot owner must initially deposit Tk.50, 000/= (Taka Fifty Thousand Only) in the reserve fund of the association for maintaining management expenses of the estate but before completion of the construction and development work of the homes/shops and the common area of the project “THE PINK CITY – XENOVALLEY” in all respect the PURCHASER shall not be engaged into any association or society related activities whatsoever.

 12. That in any case the project is abandoned or the allotted home can not be delivered for the reason beyond control of the company, the PURCHASER shall be given refund of the money paid to the company within 120 days, in that case the PURCHASER shall not be entitled to claim any interest whatsoever. 

 Note:
1. PURCHASERS are required to read the above general terms and conditions minutely and put their signature as acceptance before purchase.
2. This general terms and conditions are the integral part of the DEED OF AGREEMENT.

 Disclaimer:
Actual usable floor space may very from stated floor plan area. All elevations, floor plans, site plan and landscaping are artist’s concept. Material specifications and floor plans are subject to change. All dimensions are approximate.

 


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