Olympia Grande - Construction Agreement Draft

8/13/2019 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, 2

nd

Floor, KOLKATA 700 069 and its Administrative Office at No.1 SIDCOIndustrial 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

.


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2. Mr./Mrs./Ms...,Son/Wife/Daughter of Sri...aged about .

years presently residing at No.

.Chennai 600 PAN No.

. and permanent resident of

.

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 Partiesand individually referred to as the Party.

WHEREAS the Second Party has joined the Scheme of Development of a residentialapartment 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 buildingblock _____ 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 specificationscontained 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 CProperty 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/designssanctioned 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 beconstructed and delivered to the Second Party shall be Rs.____________________

/= (Rupees _______________________________

___________________________________________________________________

___ only) apart from other amounts which are set out in this agreement. Anyescalation in statutory fees, deposits and taxes in respect of Allottees 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 installmentsas 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 orWire 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

Partys 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 anydefault 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/arrearswith 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.

-OR-

b) In the event of the Second Party not rectifying the breach within 21 days ofthe 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 withthe 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 Partys 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, theSecond 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 inclause 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 andservice 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 Developereither 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 theSchedule 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 ofowners 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 Apartmentof 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 payableby 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 sizeof 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 heretoand 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 Propertyuntil 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 bythe 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 anyground, the progress of the construction on the other part of the Development or anypart 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 Partys rights under thisagreement 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 feetor 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 onaccount 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 groundsherein above or for the reasons incidental to the said grounds .

17) Consequent upon the Developer informing that the Schedule C Property is ready forhandover, 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 feetper


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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 16above 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 aggregatesum of Rs. 10/-per square feetper 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 fromhim/her/them/it.

Or

b) The Second Party can choose to terminate the agreement by giving30 daysnotice 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 annumby


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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 theAllottee 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 takingof 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 foroccupation, 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 CProperty 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 andRegulations prescribed by the Municipality or State/Central Government or any

other Authority, and the apartment owners 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 theexclusive 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 kindof 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 phasesand 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 iscomplete, 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 ofthe 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 willtake 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 theDeveloper 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 orsought 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 bechanged under any circumstances.

32) All letters, receipts or notices issued by the Developer dispatched under Certificateof 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 clauseshereof.

34)

All disputes arising between the Parties hereto out of or as a result of this agreementshall 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 withregard to this agreement;


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36) No change, variation or modification of any of the terms and conditions set forthherein 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 indulgenceshown 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 themare 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 withoutillegality 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 andthese 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 agreementshall 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, admeasuring6.36 Acresor thereabouts,

and the said land bounded on the

North by : 30 Feet Road (Kannapiran Street), 6/1D(part), 22/1 (Part)

South by : Land belonging to T & T Publication Pvt. Ltd.,

East by : Survey No. 31 (Part)

West by : Survey No. 39/3

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

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 GRANDEto 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 with

__________ 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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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, subjectto 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 withall 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 CProperty 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 otherinstallations 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 theSecond 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 theDevelopment 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 CPROPERTY:

1) The Second Party shall not at any time, carry on or suffer to be carried on in theSchedule 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 residentialpurposes 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, horizontaland 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 orhereafter 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 ofMunicipal Taxes, rates and cesses, insurance charges, cost of maintenance andmanagement 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 faade of the complex;


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7) The Second Party agrees that the Second Party shall pay regularly without defaultthe 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 theworks that may be undertaken in the common areas of the Schedule A Property

which are available for the use by the apartments 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 theSchedule 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 apartments owners and claim the amounts.

9) The Second Party or anyone claiming through them shall not in any manner objectto 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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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 AProperty, 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 paintKitchen 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 willnot be entertained under any circumstances

Three phase power supply with fully concealed wiring and high qualitycontemporary electrical switches

Common meters for common services in the main board.Electrical Points Light Points Fan Points 5 AMPS 15 AMPS

Living / Dining 5 2 4 1

Kitchen 2 1 2 2

Balcony 1 Nil 1 Nil

Bedroom 3 1 3 1Toilet 1 1 (Exhaust Fan) 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 roomPlumbing 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 fittingsCommon 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)

Documents

Olympia Grande - Construction Agreement Draft