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 In Payments : The allotted 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 allotted. In such case buyer's deposited amount will be refunded after sale out the same apartment to a new buyer, also an amount 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.
Documentation 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 (TAKA Ten Thousand)