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Terms and Coditions

The Allotee hereby agrees and undertakes to abide by following Terms & Conditions.

  1. A residential project along with some Shop in TopCity-1 by the name of “Lakeshore Towers” (hereinafter referred to as the Project) is being constructed on Plot No 6 Block C TopCity-1 by Kunwar’s Associates duly registered Firm having registration No. 29514.
  2. The Apartment/Shop shall be offered on ownership basis. All Pakistani citizens, non-resident Pakistanis living abroad and registered companies/firms are eligible to apply for the offered Apartment/Shop. The Management of Kunwar’s Associates (hereinafter referred to as the Management) reserves the right to accept or reject an application without any reason.
  3. After 30% down payment against the Apartment/Shop, a Provisional Allotment Letter along with a Payment Schedule spread over 42 (Forty Two) equal monthly payments and an agreement on stamp paper shall be signed by the accepted Purchaser. The Purchaser shall follow the payment terms in letter and spirit. All payments shall be made through Pay Order/Demand Draft/ in favor of Kunwar’s Associates.
  4. A late payment charge shall be levied at the rate of 5% per month against each outstanding amount. If the Purchaser defaults on any three consecutive payments as per payment schedule, or does not clear any outstanding dues, the Management reserves the right to terminate this agreement and retain the Apartment/Shop permanently at its discretion. The paid amount shall be refunded to the Purchaser after forfeiting 15% of the paid amount upon receipt of sale consideration by another intended buyer. The Purchaser shall not be entitled to any interest, profit or markup on any amount that is refunded.
  5. The Purchaser shall be permitted to transfer/surrender their rights and obligations of allotment under the Agreement if there are no old dues pending (installments, fines etc.) against the Apartment/Shop at the time of transfer.
  6. If a transfer happens prior to taking over the physical possession of the Apartment/Shop, the new prospective allotee shall submit a fresh transfer application and shall agree to abide by all existing Terms & Conditions set by the Management. If the transfer application is accepted by the Management, the Transferee (prospective allotee) shall agree on a stamp paper to make the balance installments as per the payment schedule against the respective Apartment/shop. All transfer charges and government fee/taxes applicable to transfer of the Apartment/Shop shall be borne by the Transferee/Purchaser.
  7. The Purchaser may surrender his/her allotment in writing prior to taking over physical possession of the Apartment/Shop. In such an eventuality, the Purchaser shall surrender all the original papers issued by the Management. The Management shall forfeit 15% of the deposited amount and refund the balance after sale of the said Apartment to any prospective buyer. The purchaser shall not be entitled to any interest, profit or markup on any amount that is refunded.
  8. The Management will make every effort to obtain all utilities i.e. electricity, water, gas, telephone and internet connections/meters in respect thereof in the name of the Purchaser at the earliest, provided the purchaser had fulfilled all of his/her obligations. However, the Management accepts no responsibility if the connection and/or supply of any of the above mentioned services is delayed.
  9. The Allotee shall pay Maintenance Charges to cover the cost of electricity consumed by common areas, upkeep of the building, waste collection, elevator service and operators, security measures and staff and insurance charges in addition to applicable taxes levied by the government from time to time. The Maintenance Charges shall be paid in full and in advance for three cumulative months on the issuance of completion Notice. Thereafter, the payment of maintenance charges shall be recovered in advance for every month. The Maintenance Charges shall be charged even if the Apartment/Shop is not occupied.
  10. If the Apartment/Shop is rented out, the Allotee shall submit tenancy agreement to the Management. The tenant shall also sign an agreement with the Management to abide by the Rules & Regulations and payment of the cost ne electricity consumed by common areas, upkeep of the building, waste collection, elevator service and operators, security measures and staff and insurance charges in addition to applicable taxes levied by the government from time to time
  11. No pets shall be allowed in the Project premises and no hazardous material shall be stored anywhere in building premises
  12. Allotee shall not change/alter interior/exterior of the allotted Apartment without formal written permission of the Management. Allotee shall not endanger damage or impair the building and the common area of Lakeshore Towers or shall not act against the law of the land or against Rules & Regulations of Lakeshore Towers.
  13. The rights of the roof shall be retained by the Management at all times and Allotee/resident shall have no share, claim or interest in and over the roof of the top floor.
  14. The construction of the Project will be done according to the plans/specifications. However, the Management has a right to make unavoidable/necessary changes in design, specification and/or layout of the project if required.
  15. In the event of Force Majeure (riots or affrays, any terrorist attack, earthquake or any other natural calamity) beyond the control of the Management, the Management will make best efforts to resume the construction of the Project. The delay so caused shall have no effect on the payment schedule, however, in the event of prolonged delay, the Management shall at its discretion may revise payment schedule.
  16. If for any reason, the Project is abandoned, the Management shall refund the amount received from the Allotee at its earliest convenience. However, the paid amount shall be refunded to the Purchaser after forfeiting 15% of the paid amount. In such an eventuality, the Allotee shall not be entitled to any claim as damages, interests or profit etc. of whatever nature.
  17. All disputes between the Allotee and the Management shall be mutually resolved. In case of non-resolution, the Allotee and the Management shall appoint one person each who in turn shall appoint an Arbitrator. The process of arbitration shall be pre-condition to any legal action by either the Allotee or the Management. The arbitration proceedings shall be concluded in 15 (Fifteen) days. The decision of the Arbitrator shall be final and binding on both parties. Both parties shall bear the cost of their respective representatives, however, the failing party shall pay for the cost of the Arbitrator.
  18. The Allotee accepts to abide by these Terms & Conditions and also agree that the Management reserves the right to change/alter any Terms & Conditions of the allotment for the purpose of protection of rights and interests of the Allotee from time to time.
  19. In case of change of address or contact number, the Allotee shall inform the Management in writing about the change within 7 (seven) days. In case of recovery, default or cancellation, the address mentioned in the application form shall be treated as the final address.
  20. The Management of the Project will remain with Kunwar’s Associates during the construction period and even after the completion of the project for security, maintenance, upkeep, garbage collection, and for any other functions deemed necessary for the betterment of Lakeshore Towers.
  21. The Allotee shall abide by the existing Rules & Regulations prescribed by the Kunwar’s Associates, RDA, and concerned authorities.
  22. Above Terms & Conditions shall be binding upon the Allotee hereto their respective successors and assignees.

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