Terms And Conditions

    Application :

    Application for allotment of apartments should be made on the prescribed     application form duly signed by the applicant along with the 20% earnest money and       other necessary documents.

    Payment :

    The buyer will make the payment as per payment schedule. A/C payee cheque or       bank draft or pay-order in favor of Sierra Properties (Pvt.) Ltd. payment from       overseas in US Dollars or EURO are to be calculated at the prevailing official       conversion rate to Bangladeshi Taka on the date of payment.

    Delay of Payment :

      The allottee undertakes to pay delay charge at the rate of 0.1% per day on the       amount of Payment delayed beyond the due date. If the payment is delayed for 60       days, the company have the right to cancel the allotment without any notice to the       allottee. In such case buyer's deposited amount will be refunded after sale out the       same apartment to a new buyer, also an amount of Tk.1,00,000/= (Taka One Lac)       only will be deducted from the buyer's deposited amount as  incidental charges.

    SPL's Right :

      The developer reserves the right to make any alternation, addition, omission,       revising of the total or any part of the architectural and structural design or working       drawing and limited change can be made in specification for overall interest of the       project without any prior notice to the buyer or any legal authority.

      Document Cost :

      The buyer will pay stamp duties, registration fees, taxes, legal and govt. charges,       VAT and other miscellaneous expenses likely to be incurred in connection with the       Registration or deed.

      Incidental Cost :

      Connection charges/fees, security deposits and other incidental charges/expenses       relating to gas, water, sewerage and electric connection etc. are not include with       apartments cost. The buyer will also make these payments.

      Possessions :

      After full payment of installment and other charges the possession of each apartment       shall be handed over to the buyer. Until and unless dues are not clear, possession of       the apartment will be hold by the company.

      Owner's Association :

      The buyer undertake to become a member of the owner's association, which will be       formed by the owners of the apartments with the view to maintaining the general       affairs of the complex for common interest. Each apartment owner must initially       deposit Tk. 10,000.00 (Ten Thousand) only to the reserve fund before handing over       apartments.