Olympia Grande - Construction Agreement Draft

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AGREEMENT FOR CONSTRUCTION THIS AGREEMENT FOR CONSTRUCTION ENTERED INTO AT CHENNAI ON THIS DAY OF BETWEEN M/S. KSM NIRMAN PRIVATE LIMITED, a Private Limited Company incorporated under the Indian Companies Act, 1956 having its Registered Office at No.9A, Esplanade East, 2nd Floor, KOLKATA – 700 069 and its Administrative Office at No.1 SIDCO Industrial Estate, Guindy, Chennai – 600 032, PAN No. AAECK1834D, represented by its Director SHRI.CHANDRAKANT KANKARIA, hereinafter called the “DEVELOPER” or “FIRST PARTY”, which term and expression wherever the context so admits and permits shall mean and include its, successors-in-interest and assigns: AND 1. Mr./Mrs./Ms…………………………………………………………...………, Son/Wife/Daughter of Sri…………………………...……………aged about ……. years presently residing at No. ………………… ……… …… ….……………………………………………………Chennai – 600 …… PAN No. …………………. and permanent resident of ………………… ……………………………………….………………………………………… , .

2. Mr./Mrs./Ms…………………………………………………………...………, Son/Wife/Daughter of Sri…………………………...……………aged about ……. years presently residing and at No. ………………… resident of ……… …… ….……………………………………………………Chennai – 600 …… PAN No. …………………. permanent ………………… ……………………………………….…………………………………………

hereinafter [collectively] called as the "ALLOTTEE” or “SECOND PARTY” (which term and expression unless repugnant to the context shall mean and include their / his / her legal heirs, legal representatives, executors, administrators, successors & assigns) The First Party and Second Party – i.e., the DEVELOPER and the ALLOTTEE are jointly referred to as “Parties” and individually referred to as the “Party”. WHEREAS the Second Party has joined the Scheme of Development of a residential apartment called “OLYMPIA GRANDE” formulated by the owners of the Schedule A Property namely M/S KSM NIRMAN PRIVATE LIMITED and M/s KHIVRAJ INFRATECH PRIVATE LIMITED, and entered into an Agreement for Sale with them, which shall form part and parcel of this agreement and both shall read together and form part and parcel of the same transaction, where under the Second Party has agreed to purchase _________ square feet of undivided share in the Schedule A Property set out herein which is more fully set out in the Schedule B hereto and by virtue of joining the scheme and by virtue of entering into this agreement the Second Party has become entitled to get constructed a _____bedroom apartment bearing No._____ on the ________Floor in the building block _____ of the Development having a super built up area of ________ square feet with the proportionate share in the common areas including staircase, lift shaft, lobbies, corridors, atriums and covered walkways, together with ______Car Parking Space

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in _______________ which is more fully set out in Schedule C hereto in the Development under this agreement;

WHEREAS the Parties hereto have discussed and negotiated the terms of this agreement and after such negotiations and after the Second Party being satisfied with the terms and conditions are recording the agreement arrived at between them with regards to the construction of the Schedule C Apartment and other related terms and conditions agreed and recorded herein; NOW THIS AGREEMENT FOR CONSTRUCTION WITNESSES AS FOLLOWS: That in pursuance of the foregoing and in consideration of the obligations respectively undertaken by the Parties hereto, the Parties hereby agree as follows:1) That the Developer shall construct, develop and deliver to the Second Party, a _____bedroom apartment bearing No._____ on the ________Floor in the building block _____ of the Development having a super built up area of ________ square feet with proportionate share in the common areas of the Development and in the Schedule A Property as applicable including staircase, lift shaft, lobbies, corridors, atriums and covered walkways of the building, together with right to use ______ Car Parking Space in _______________ which is more fully set out in Schedule C.

2)

The Schedule C Property shall be constructed in accordance with the specifications contained in the Annexure I hereto. The Second Party agrees that the Developer shall also be entitled to change the brand of the products specified in the specifications set out in Annexure-I by substituting equivalent items.

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3)

Subject to Clause 16 hereunder, the Developer agrees to deliver the Schedule C Property within 36 (Thirty Six) months commencing from 01.09.2012. The Developer will have additional grace period of Nine months.

4)

The Development is being developed by the Developer as per the plans/designs sanctioned by the concerned authority. The Developer may make such variations or modifications in the plans/ designs/ specifications, as may be required during the construction or as required by any statutory authority or such change or otherwise deemed necessary by the Developer in view of site requirement, without however substantially altering the dimensions and the total area of the Schedule C Property.

5)

The cost of the construction of the Schedule C Property hereby agreed to be constructed and delivered to the Second Party shall be Rs.____________________ /= (Rupees _______________________________ ___________________________________________________________________ ___ only) apart from other amounts which are set out in this agreement. Any escalation in statutory fees, deposits and taxes in respect of Allottee’s apartment shall be borne by the Allottee solely without any demur.

6)

The Second Party shall pay the cost of construction to the Developer in installments as set out in Annexure II hereto. The Second Party has assured the Developer that the cost of construction agreed to be paid under this agreement will be paid by the Second Party to the Developer on demand raised by the Developer, without any delay or default, as per the Schedule of payment set out in Annexure-II hereto, time of payment of each installments being the essence of the contract in view of the Scheme. The Developer have further informed the Second Party and the Second Party is fully aware that the default in payments of the balance amount would affect the entire project as envisaged, as there are other Parties who have joined, and will
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from time to time join, the Scheme based on the assurance given by the Second Party that there will not be any delay in payments of the balance of the installment of the sale consideration. In consideration of the Second Party paying the installment set out in Annexure II hereto without any delay or default, the Developer has offered the Second Party a Timely Payment Rebate (TPR). The amounts of such TPR is set out against each of the installment in Annexure II hereto which shall be credited towards the last installment payable by the Second Party as mentioned in Annexure II. In the event of there being delay in payment of the installment set out in Annexure II hereto the Second Party would not be entitled to any of the amounts of the TPR. 7) All payments under this agreement are to be made by Cheque or Demand Draft or Wire Transfer payable in favour of the Developer. In case of Cheque or Demand Draft payable outside Chennai collection charges will be debited to the Second Party’s account and credit for the payment made will be given on actual credit of the amount from the bank. 8) In the event of there being any breach of any of the terms of this agreement or any default by the Second Party in payment of the cost of construction or any installment thereof on the due dates for whatsoever reasons or the amounts set out in clause 9 below, it shall be construed as the breach of contract committed by the Second Party and without prejudice to any other rights the Second Party agrees that the Developers at its discretion/option may a) Either continues with this contract and claims the amounts in default/arrears with interest on the defaulted installments at the rate of 2% per month from the date of default to the date of payment. In such an event, even after the amounts with interest are paid, the Second Party will not be entitled to timely possession. In case of the Second Party becoming due to pay the interest as
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set out in this clause, the Second Party agrees that amounts paid by the Second Party would be first adjusted towards the interest payable by the Second Party and the balance amount will be adjusted towards the installment due and if there is any shortfall of the installment the Second Party will be required to pay such shortfall immediately to make up the installment/s which are due and payable. The Second Party has agreed that acceptance of any delayed installment with interest due thereon shall not be considered as the waiver of the right of the Developer to terminate this agreement for reasons of any subsequent breach by the Second Party. -ORb) In the event of the Second Party not rectifying the breach within 21 days of the notice to rectify the breach, the Developer at its discretion/option will be entitled to terminate this agreement on such termination the Developer will be entitled to undertake the construction of the Schedule C Apartment under the scheme and refund the amount received from the Second Party without any interest or such amounts received on execution of the agreement with the third party for the construction of the Schedule C Property, after deducting the amounts due from the Second Party whichever is lower. On such termination the Developer will not be liable to refund all the overdue interest paid and payable and or all statutory payments namely handling charges, service tax, etc.(the Statutory Payments). The amount under this clause shall be paid within four weeks of the agreement with the third party for the Schedule C Property or within six months of the date of termination whichever is earlier. Against the cancellation of this agreement by the Developer, the Second Party’s rights under this agreement, and also the Agreement for Sale, shall stand terminated immediately without any requirement of execution of any further documents;

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c)

If the Second Party desires to terminate this agreement for no cause, the Second Party shall notify the Developer of their intent to terminate in writing with acknowledgement and this agreement along with the Agreement for Sale which is executed on the same date as this agreement shall also stand terminated. On such notification by the Second Party, the Developer will be able to enter into construction contract with the third party who joins the Scheme and on the receipt of the consideration the entire amounts so received from the Second Party under this agreement less the amounts due from the Second Party or the amounts received from the Second Party, which ever is lower will be paid to the Second Party. If the Developer is unable to enter into any agreement for the construction of the Schedule C Property under the Scheme within 6 months, the Developer will refund the amounts received under this agreement till the date of termination without any interest. All the over due interest paid and payable, and/ or all the Statutory Payments till the date of such termination will be non refundable and not paid to the Second Party under this clause.

9)

Apart from the cost of the construction of Schedule C Property payable as set out in clause 6 above, the Second Party shall also be liable to pay:a) Deposits/or other charges or levies demanded towards the electricity, sewerage and water connections, proportionate cost of cable, panel board, transformers, HT works, and any other Governmental/Statutory Authority, sewage treatment plant and the service tax and handling charges on works contract or other taxes/levies payable to Central/State Government, betterment or other levies thereon as demanded by the Developer. As regards the sewerage treatment plant the amounts payable towards the installation and the maintenance shall be as demanded by the Developer ,

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b)

The Stamp Duty, Registration charges as applicable and legal charges and service charges as fixed by the Developer in regard to the Deed of Conveyance.

c)

The cost and taxes as applicable on any work executed by the Developer either in addition to or in modification of what is specified in Schedule C and the cost of any extra facilities provided by the Developer on the request of the Second Party. The Second Party is solely liable to pay property tax proportionate to the Schedule C Property from the date of registration of the sale deed or delivery of possession whichever is earlier.

d)

Maintenance Corpus of Rs. 50,000/- (Rupees Fifty Thousand Only) of the Schedule C Property shall be handed over to the Association of Owners. The Maintenance Corpus Fund paid above if not collected in the name of the Association, will be transferred to the body incorporated / association of owners when the owners take over the body incorporate / association that would be formed by the Developer.

e)

Rs. 30/- (Rupees Thirty Only) per square feet of the Schedule “C” Apartment of the estimated maintenance charges in advance to be paid from the date of the Developer having informed the Second Party of the Schedule “C” Property being ready for possession whether possession of the Schedule “C” Property is taken or not.

f)

The Second Party shall not seek for refund of maintenance deposits payable by the Second Party paid for the purpose of the maintenance of all its common areas, facilities, amenities;

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g)

Service tax, sale tax, vat, works contract tax, all infrastructure charges, handling charges goods and service tax when applicable, cess or any tax levied and to be levied on construction cost paid in respect of the Schedule C Property or the amounts payable under Clause 9 of this agreement as applicable from time to time or any of the service charges paid by the Developer shall be borne by the Second Party irrespective of whether the tax is levied by the Central Government or State Government or any other statutory authority entitled to levy such kind of tax.

All the amounts set out in Clause 9 above shall be paid by the Second Party along with the last installment set out in Annexure-II hereto and any breach in payment of the amounts in Clause 9 above, it shall be construed as breach in payment of the amounts under this agreement and consequences in Clause 8 would become applicable and the Developer will be entitled to exercise any of the options set out in Clause 8 above. 10) The Second Party has agreed that in the event of their being any increase in the size of Schedule C Property on the completion of the Schedule C Property being over 3% of the area presently set out in the Schedule C hereto, the Second Party shall pay for the additional area at the same rate set out herein. Similarly, in the event of their being any reduction in the size of the Schedule C Property more than 3% of the area presently set out in the Schedule C hereto, the Second Party will be entitled to the adjustment in the cost of construction for such reduced area at the same rate as set out herein. It has been agreed between the Parties hereto that the area statement issued by the Project Architect in this regard will be final and binding. 11) The Second Party shall be entitled to the rights enumerated in the Schedule D hereto and shall have the obligations set out in the Schedule E hereto in regard to the Schedule C Apartment to be constructed by the Second Party through the Developer
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and the enjoyment of the land, common areas and other matters connected therewith and the terms therein are part and parcel of this agreement for construction; 12) The Second Party shall not be entitled to the possession of the Schedule C Property until all payments due to the Developer under this agreement and all payments due under the Agreement for Sale for the purchase of the undivided share out of the Schedule A Property are paid and have executed necessary documents. 13) The Second Party further agrees that any delayed payment having been accepted by the Developer will not preclude the Developer to enforce the termination clause in case of subsequent default/s and such acceptance of payment of any of the delayed installment shall not be construed as waiver of the rights of the Developer of Clause 8 hereof. 14) The Second Party shall have no right whatsoever to obstruct or hinder, on any ground, the progress of the construction on the other part of the Development or any part of the Development in the Schedule A Property. The Second Party is fully aware that the Developer will be constructing in the Schedule A Property with additional lands being amalgamated in phases and the Second Party will have no objection to such constructions or the usage of the common amenities as applicable to the entire of the Schedule A property and any other amalgamated additional area, including roads, right to draw water, sewerage, electricity, data, voice, etc lines and cables as the case may be. 15) The Second Party will not be entitled to assign the Second Party’s rights under this agreement without prior written permission of the Developer and subject to payment of assignment fee to the Developer that may be fixed by the Developer at its discretion which will be up to Rs.200/- per square feet or the difference between the current higher charging rate and the construction cost agreed to be paid by the
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Second Party whichever is higher and taxes as applicable on the total consideration of the Schedule C Property and the corresponding undivided share out of the Schedule A Property to the Developer, which amount to be paid before assigning the rights. 16) The date stipulated for delivery of the Schedule C Property is subject to variation on account of force majeure or acts of God or Government Orders/ Restriction/ delay, controls, non-availability of cement, steel and any construction material, and other reasons which are beyond the control of the Developer and / or due to delay or default of payment/s by the Second Party. The Developer shall make every effort to obtain Completion Certificate, electrical, sanitary and water connections within the stipulated date. However the Developer shall under no circumstances be responsible for any such delays being caused for obtaining the completion certificate, electrical, sanitary and water connections from concerned Statutory Authorities and to this effect, the Second Party shall not be entitled to claim any damages/losses etc., in what so ever manner against the Developer under any circumstances on the grounds herein above or for the reasons incidental to the said grounds . 17) Consequent upon the Developer informing that the Schedule C Property is ready for handover, the Second Party within 30 days of such intimation shall make all payments under this agreement and the Agreement for Sale and shall come forward to take possession of the Schedule C Property or/as well as conveyance of the undivided share. In the event of the Second Party failing to make payments under this agreement and the Agreement for Sale and take conveyance in his/her/its favour , the Second Party shall be liable to pay/bear all the consequential expenses and power demand charges from the date of the connection, taxes/levies/charges, or any amounts payable by the Developer under any state or central statute, due to delay in taking conveyance and such amounts shall be paid before the conveyance deed is executed. The Second Party shall also be liable to pay Rs. 5 per square feet per
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month as holding cost to the Developer till the Second Party takes possession of the Schedule C Apartment; 18) In the event of there being any delay for reasons otherwise set out in Clause 16 above and the Second Party has not committed any default of any of the terms including delayed or defaulted in payment of any of installment payable by the Second Party as per Annexure II then in that event : a) The Developer shall become liable to pay to the Second Party an aggregate sum of Rs. 10/-per square feet per month being the monthly compensation that could be suffered by the Second Party due to such delay in handing over the Schedule C Property. The Second Party has agreed and recognizes that the amount paid under this clause is adequate compensation. The said compensation is payable by the Developer at the time of handing over of the Schedule C Apartment. The Developer is not liable to pay the above said compensation if the Second Party has delayed any of the payments due from him/her/them/it. Or b) The Second Party can choose to terminate the agreement by giving 30 days notice and on such termination this agreement and the Agreement for Sale of the undivided share of land shall stand terminated. The Developer shall sell the Schedule C Property under the Scheme and all the sale consideration received from such sale less the amounts due from the Second Party or the amounts received from the Second Party whichever is lesser shall belong to the Second Party herein. In the event of the Schedule C Property under the scheme is not sold within 6 months of the Second Party terminating this agreement the Developer shall become liable to pay the amounts received under this agreement with interest thereon at the rate of 12% per annum by
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the end of the sixth months of termination . All the over due interest paid and payable and or statutory payments made till date by the Second Party, viz, handling charges Service Tax etc(the Statutory Payments), till the date of such termination will be non refundable and not paid to the Second Party under this clause. 19) The Second Party on receipt of the notice from the Developer intimating the Allottee to take possession of the Schedule C Property, the Allottee shall check for any defect, cracks (except for routine/non structural cracks in the brick walls resulting from seasoning or natural effects) or breakages in Sanitary ware/Glazed tiles/Glass panels/Electrical switches or the fittings, prior to signing the ‘taking possession letter’. The defects identified by the Allottee before taking possession, which are not caused by any act of commission or omission of the Allottee, shall be rectified or replaced free of cost by the Developer. 20) The Developer guarantees that if notified in writing within 12 months of the taking of possession of the Apartment by the Allottee or the handing over of the complex by the Developer, whichever is earlier, they will rectify, free of cost, any defect that may be directly attributable to improper workmanship or material or willful negligence on the part of the Developer. However the Developer shall not be responsible for routine/non structural cracks in the walls resulting from seasoning or natural effects, normal wear and tear and damages resulting from abuse or improper use. 21) The Second Party shall, from the date the Schedule C Property is ready for

occupation, whether possession of the same is taken or not, firstly pay the sums mentioned in Clause 9 above, pay proportionate share of all outgoings and maintenance costs and general expenses such as Insurance, Municipal Taxes/expenses, taxes and cesses, electrical and water tax and all other maintenance
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charges of the common areas as determined by the Developer and the Developer shall under no circumstances be liable for the same. The Developer shall maintain the Development for period as provided in Clause 24 and thereafter hand over the maintenance to the owners association formed. 22) The Second Party shall not do or suffer to be done anything in or to the Schedule C Property which may adversely affect the Schedule C Property or the Building in which the Schedule C Apartment is located. 23) The Second Party shall also observe and abide by all the Bye-laws, Rules and Regulations prescribed by the Municipality or State/Central Government or any other Authority, and the apartment owner’s Association in regard to ownership or enjoyment of Schedule C Property and pay all taxes, rates and cess in regard to the Schedule C Property. 24) The Developer or any other person/ entity nominated by Developer will be the exclusive maintenance service provider of such services that may be provided to the Development Area. The charges for providing such services and maintenance shall be paid directly to such service provider or the Developer. The owners of the apartments in the Development shall not make arrangements with any outside Agency for availing such services for the first five years . Such maintenance shall be done by the Developer or any service provided of the Developer on open book basis and the Developer or such agency would be entitled to cost plus 10% of such cost . 25) The Second Party shall under no circumstance enclose the balconies with any kind of grill/aluminium windows/fibre glass, hang pots, with or without plant, lamps, etc., as the same would affect the overall elevation of the Development.

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26)

That the Second Party is aware that the said Development consists of two phases and the construction will be completed in phases and not at a time.

27)

The Second Party shall, as and when informed that the Schedule C Property is complete, shall come forward to take possession and pay all the amounts due under this agreement and also the Agreement for Sale of the even date. The Second Party is also aware and agrees that the common amenities and facilities of the said Development shall be completed from time to time, some of them by end of the completion of the said Development, however the Developer shall complete the common areas as would be applicable to the use of the Development.

28)

The Second Party/s undertakes that they shall not hinder or prevent the progress of the construction of any part of other phase in any manner and undertake that they shall not raise any objection on whatsoever ground including dust, noise, pollution, nuisance or annoyance that may be caused due to such construction nor they will hinder the use of the specified area sold or allotted. However the Developer will take all necessary steps so that least inconvenience is caused to the Second Party.

29)

The Second Party has been informed and the Second Party has agreed that the Developer and the Owners will be entitled to form association and the Second Party shall become the member of such association and abide by the bye-laws and rules of such Association. .

30)

If any development and/or betterment charges or other levies are charged, levied or sought to be recovered by any statutory authority or public authority in respect of the Schedule A Property, the same shall be borne and paid by the Second Party in proportion to his/her/their/its undivided share in the Schedule A Property. All costs, charges and expenses including stamp duty and registration charges, if any, and other expenses including legal charges in connection with this agreement shall be
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borne and paid by the Allottee. The Developer shall not be liable to contribute anything towards such expenses. 31) The name of the Development shall be “OLYMPIA GRANDE” and shall not be changed under any circumstances. 32) All letters, receipts or notices issued by the Developer dispatched under Certificate of Posting/Registered Post Acknowledgement due to the address of the Second Party given in this agreement and or by electronic mail will be sufficient proof of service thereof on the Second Party and shall effectively discharge the Developer from the obligations to issue any further notice; 33) The Second Party has executed this agreement after understanding all the clauses hereof. 34) All disputes arising between the Parties hereto out of or as a result of this agreement shall be referred to the single arbitrator to be appointed by the Parties by mutual consent. In the event of the Parties not agreeing on a single arbitrator, the Developer shall appoint an arbitrator and the Allottee shall appoint an arbitrator and the two arbitrators so appointed shall appoint a third arbitrator who shall be the presiding arbitrator. The arbitration shall be governed by the provisions of the Arbitration and Conciliation Act, 1996. The arbitration proceedings shall be held in Chennai and the language of the proceedings shall be English. The arbitrators shall give their award in writing and the same shall be final and binding on the Parties. 35) Subject to Arbitration, the Courts in Chennai shall alone have jurisdiction with regard to this agreement;

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36)

No change, variation or modification of any of the terms and conditions set forth herein shall be valid unless incorporated as an amendment to this agreement and signed by both the Parties or by way of a separate supplementary agreement.

37)

The Parties hereto agree that in the event of there being any delay in or indulgence shown by either of the Parties with regard to the enforcement of any of the terms of this agreement the same shall not be construed as a waiver on the part of the Party showing such indulgence or tolerance or any indulgence or forbearance shall not be deemed to be a waiver of the rights and the Parties shall be entitled to enforce such right without prejudice to such indulgence or tolerance shown.

38)

In the event that any provision of this agreement or any of the conditions of them are declared by any judicial or other competent authority to be void, voidable, illegal or otherwise unenforceable or indication of the same are received by either of the Parties from any relevant competent authority, the Parties shall amend the provision in such reasonable manner as achieves the intention of the Parties without illegality or at the discretion of the Parties it may be severed from this agreement and the remaining provisions of this agreement shall remain in full force;

39)

The Parties acknowledge that this agreement along with the agreement to sell and these conditions contained in these agreements are the whole Agreement between the Parties and supersede all the previous letters, correspondences, writings, understandings etc between the Parties hereto;

40)

The covenants, rights and obligations of the Parties expressed in this agreement shall govern the Parties hereto in the corresponding Agreement for Sale also;

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SCHEDULE - 'A' PROPERTY (TOTAL LAND AREA) All that piece and parcel of vacant land comprised in Revenue Survey Nos. 32, 33/2, 36, 37, 38/2, 33/1 & 39/4B, and New Town Survey Nos. 2, 4/1, 4/2, 5/1, 5/2, 6/1A, 6/1B, 6/1C, 6/1D, 8/1, 22/1, 23/1 and 24/1 in Block No.15, Ward No. A, in ISSA PALLAVARAM Village, Tambaram Taluk, Kancheepuram District, admeasuring 6.36 Acres or thereabouts, and the said land bounded on the – North by : South by : East by : West by : Pallavaram. SCHEDULE ‘B’ PROPERTY (Undivided Share of Land) ________ Square feet of undivided share in the Schedule A Property corresponding to the Schedule ‘C” apartment, which undivided share would be located within the Development Area SCHEDULE ‘C’ PROPERTY (APARTMENT) A ________ Bedroom Apartment bearing No. ____on the ______Floor in _______ block of the Development known as “OLYMPIA GRANDE” to be constructed in the Schedule A Property, having a super built up area of _________ square feet (which shall mean and include the total built up area including walls of the apartment, area under balconies and terrace and proportionate share of all common area including staircase, lift shaft, lobbies, club and sports facility, corridors, atriums and covered walkways) together __________ Car Parking Space in _________________. The sketch of the floor plan of the Schedule C Apartment is as per Annexure ‘III’ hereto.
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30 Feet Road (Kannapiran Street), 6/1D(part), 22/1 (Part) Land belonging to T & T Publication Pvt. Ltd., Survey No. 31 (Part) Survey No. 39/3

Situated within the Registration District of Chennai South and Sub-Registration District of

with

S C H E D U L E- D RIGHTS OF THE SECOND PARTY IN REGARD TO THE SCHEDULE C PROPERTY: 1) The Second Party shall be entitled to own and use the Schedule C Property, subject to the terms and conditions contained in this agreement and the rules and regulation and the bye laws of the association of the apartments owners that may be formed; 2) The Second Party and all persons authorized by the Second Party (in common with all other persons entitled, permitted or authorised to a similar right) shall have the right at all times and for all purposes, to use the common roads, passages in the Schedule A Property. The earmarked exclusive areas shall, however, be available when necessary for attending to any repairs, maintenance and/or clearing overhead/ underground water tanks; 3) The right to subjacent, lateral, vertical and horizontal support for the Schedule C Property from the other parts of the Development Area. 4) The right to free and uninterrupted passage of water, gas, electricity, sewerage etc., from and to the Schedule C Property through the pipes, wires, sewer lines, drain and water courses, cables which are or may at any time hereafter be, in, under or passing through any part of the Development in the Schedule A Property or any part thereof; 5) The right to lay cables or wires for Radio, Television, Telephone and such other installations through designated conduits, ducts and shafts, in any part of the Development, however, recognizing and reciprocating such rights of the other owners of the Development ;
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6)

The right of entry and passage for the Second Party and agents or workmen of the Second Party to other parts of the Development at all reasonable times after notice to enter into and upon other parts for the purpose of repairs or maintenance of the Schedule C Property or for repairing, cleaning, maintaining or renewing the water tanks, sewer, drains and water courses, cables, pipes and wires causing as little disturbance as possible to the other apartments owners and making good any damage caused;

7)

The Second Party has the right to use the common areas provided in the Development and the limited access area of the Schedule A Property being in form of common roads, pathways, garden areas and other common amenities and facilities in the Schedule A Property ; S C H E D U L E –E

OBLIGATION OF THE SECOND PARTY IN REGARD TO THE SCHEDULE C PROPERTY: 1) The Second Party shall not at any time, carry on or suffer to be carried on in the Schedule C Property or any part thereof any noisy, offensive or dangerous trade or pursuit which may be or become in any way a nuisance, annoyance or danger to the First Party or the other apartments owners or occupiers or the neighbors or which may tend to depreciate the value of the said apartments or any part thereof; 2) The Second Party shall use the Schedule C Property only for private residential purposes and shall not be put to use for any kind of commercial or semi commercial use or serviced apartment; or for any illegal/unlawful purpose.

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3)

The Second Party shall give to the other apartments, necessary vertical, horizontal and lateral support for their apartments, and reciprocate and recognize the rights of the other owners as are enumerated in Schedule -E above;

4)

The Second Party will use all sewers, drains and water lines now in or upon or hereafter to be erected and installed \ in common with the other apartments owners and to permit free passage of water, sanitary, electrical lines, through and along the same or any of them and to share with the other apartments owners, the cost of repairing and maintaining all such sewers, drains and water lines as also the cost of maintaining and repairing all common amenities such as common roads, staircases etc. and to use the same as aforesaid and/or in accordance with the Rules, Regulations, Bye-laws and terms of the association formed of which the Second Party is the member ;

5)

The Second Party shall duly and punctually pay the proportionate share of Municipal Taxes, rates and cesses, insurance charges, cost of maintenance and management of Development and charges for maintenance of services like water, sanitation, electricity etc., salaries of the employees of the Association of Owners which would be formed for maintenance of all the common amenities and facilities of the Development in the Schedule A Property as may be determined by the Managing Committee of such Association from time to time. The liability for such share shall commence from the date of intimation of the Schedule C Property being ready for possession, irrespective of whether the Second Party has taken possession of the Schedule C Property or not ;

6)

The Second Party shall not put up any hoarding, name plates, sign-boards, graffiti, satellite dish, etc., in place other than that demarcated and allotted by the Developer and without affecting the façade of the complex;

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7)

The Second Party agrees that the Second Party shall pay regularly without default the maintenance charges which are fixed by the Developer and thereafter by the Association of Owners. In the event of any default in payment by the Second Party, the service provider will be entitled to withdraw all or any of such services including water supply etc., The Second Party is liable to pay service tax/other taxes, if any, levied by the State or the Central Government on such charges as may be applicable. The Second Party shall also contribute to the sinking fund for any Capital expenditure as replacement of the generator, transformer or painting of common areas etc., payable quarterly in advance as may be determined by the Developer and thereafter the Associations which are formed. The income from the Corpus Fund will be used for the capital nature of expenditure only. The scope of the maintenance shall be as decided by the Developer and thereafter by the association of owners that are formed taking into consideration several amenities and facilities and also the common areas etc of the Schedule A Property common areas and facilities like, security, water supply, and standby power supply etc;

8)

The Second Party shall also be liable to pay all the maintenance charges for the works that may be undertaken in the common areas of the Schedule A Property which are available for the use by the apartment’s owners and shall be paid regularly without any default. The Second Party has been fully informed that in the event of such default, the facilities and amenities provided in the Schedule A Property and any additional area that may be amalgamated would suffer drastically by cutting the facilities and amenities and that would affect the Development of the Schedule A Property and amalgamated additional area if any. The Developer shall have the right to discontinue the maintenance services in case of default by the Second Party or other apartment’s owners and claim the amounts.

9)

The Second Party or anyone claiming through them shall not in any manner object to the use of the said common areas by other owners and occupiers of the other Development of the Schedule A Property and additional area if amalgamated ;
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10)

The Second Party shall carry out their interior in the Schedule C Property during the first 6months from the date of the Developer having informed the Schedule C Property is ready for occupation, from 9 am to 7 pm including all seven days of the week during those 6months, and thereafter if any interior works are to be carried on or commenced the same shall be during 9 am to 1 pm and thereafter from 4 pm to 6 pm on all working days and there will be no work allowed during any public holidays and Sundays based on the rule, regulation and guideline of the Developer in this regard.

11)

The Second Party shall ensure that no rubbish/refuse shall be thrown out of the Schedule C Property into the common areas and passages;

12)

The Second Party shall keep the walls, drains, pipes and other fittings in good and habitable condition and in particular so as to support and protect the parts of the Development, and to carry out any internal works or repairs as may be required by the Managing Committee of the association;

13)

The Second Party has agreed not to make any structural change or changes that lead to structural instability including breakage and hacking of walls in view of the Development being constructed using aluminum form work and reinforced concrete walls. If the Second Party commits any breach thereby causing any damage to the Development or any part thereof the Second Party will be liable to indemnify towards the loss and damages caused to the other owners of the Development who have suffered due to such breach by the Second Party.

14)

The Second Party shall not make any additions or alterations or cause damage to any portion of the Schedule C Property and not to change the location of the toilets, kitchens or plumbing lines outside colour scheme, outside elevation/facade/decor of
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the Development. The Second Party at no point of time shall enclose in any manner any of the balconies of Bedroom, Living Room/Kitchen with Glass or Grill or otherwise. The air-conditioner units shall only be split system the compressor shall be placed only at the areas designated by the Developer. Window type air conditioners are prohibited. 15) The Second Party shall not construct any kind of structure (permanent or temporary) in the open area being appurtenant land to the apartment or any of the terrace areas of the Schedule C Property . 16) The Second Party shall not park any vehicles in any part of the Schedule A Property, except in the parking area specifically allotted and earmarked for the Second Party in it apartments. After completion of the Development and after obtaining possession of their respective apartments, the owners may by mutual agreement, set apart or demarcate any part of the common area in the Development as a parking lot for Bicycles and Two Wheelers;

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ANNEXURE-I (STANDARD FEATURES AND SPECIFICATIONS) Structure: • RCC framed structure conforming to seismic zone III requirements • Parking in open, basement and stilt level • Apartments spread over from first floor to the eleventh floor level Flooring: • Vitrified tiles in the living, dining, bedrooms and kitchen • Flooring of superior quality anti – skid ceramic tiles in toilets, balconies and wash area Wall Tiling: • Good quality ceramic wall tiles for 2 feet above the platform in kitchens • Superior quality ceramic wall tiles for 6 feet height from the floor level in toilets Exterior fascia of building: • Painted with 100 % acrylic – based paint Kitchen Platform and sink: • Kitchen platform with black granite • Stainless steel sinks with a drain board Doors / Windows / Ventilators: • Door frame flush shutters for main door • Siding – type windows with anodized / powder – coated aluminum or UPVC • Aluminum or UPVC ventilators Painting Finishes: • Walls coated with putty, finished with emulsion for living, dining and bedrooms • Ceiling coated with good quality cement paint and finished with OBD • Other internal and external walls coated with putty finished with emulsion paint.
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Electrical: • Alterations in the elevation and shuttering for window AC or any other reason will not be entertained under any circumstances • Three – phase power supply with fully concealed wiring and high – quality contemporary electrical switches • Common meters for common services in the main board. Electrical Points Living / Dining Kitchen Balcony Bedroom Toilet Light Points 5 2 1 3 1 Fan Points 2 1 Nil 1 1 (Exhaust Fan) 5 AMPS 4 2 1 3 1 15 AMPS 1 2 Nil 1 1 (Water Heater)

** Above mentioned electrical specification is not applicable for single bedroom TV and Telephone Cable: • TV and telephone points in the living room Plumbing and Sanitary: • All toilets with European water closet (white) • The master bedroom toilet will have a wash basin with bottle trap: Jaguar or equivalent CP fittings, good quality vitreous floor mounted WC including seat cover, flush, valve, etc • Other toilets to be fitted with standard sanitary fittings Common amenities: • • • • Adequate numbers of lifts for each tower Sump of required capacity for metro water and borewell water Covered and Open Car Park at extra cost Adequate water supply

** Disclaimer:All the mentioned specifications are only indicative, Brands and models are subject to change.

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ANNEXURE-III (SKETCH OF THE SCHEDULE “C” APARTMENT)

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IN WITNESS WHEREOF THE PARTIES HERETO HAVE SIGNED THIS AGREEMENT FOR CONSTRUCTION ON THE DATE, MONTH AND YEAR FIRST ABOVE-WRITTEN AT CHENNAI IN THE PRESENCE OF THE WITNESSES ATTESTING HEREUNDER:

SECOND PARTY

DEVELOPER

WITNESSES: 1) 2)

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