- The name of the project shall be Royal Homes which is being constructed in the Project Paragon City/………………………………………………………….
- The company shall offer houses of different sizes in the project for the sale on ownership and on first come, first serve basis.
- All application for booking / allotment shall be submitted on the prescribed form duly filled in and signed by the applicant along with a Cross Cheque / Pay order/ Demand Draft drawn in the name of M/s. Royal Homes.
- The Royal Homes management shall be responsible to complete all the relevant papers of the said house and will execute Registration / Transfer formalities in the name of purchaser after receiving the full payment of the house.
- The payment of installments shall be made by the applicant on due dates according to the schedule of payment. In case of failure to pay the specific installments by the due date, a demand notice of 15 days shall be issued for deposit of payment. If applicant again fails to pay within the stipulated 15 days, a second demand notice shall be issued to him/ her extending the installment payment grace period by another 15 days from the date of issuance of the second demand notice, if the allottee fails to pay within the stipulated period, a final notice shall be issued to the applicant intimating cancellation of the said home.
Hence forth, the amount paid by the allottee shall be refunded to him/ her after completion of the project or the said home. An amount of 10 % of the total price of the said home as service charges will be deducted and remaining amount will be paid back after the completion of the project or said home has been re-booked by some other buyer. If the applicant wants to surrender after paying 10 % amount of booking, it will be forfeited in the favor of builder and will not be refunded.
- The provisional allotment letter will be issued after receiving 35% of the total cost of the said house.
- The company will handover physical possession of the said house with construction completed in all respects to the allottee with in time prescribed in the payment schedule, anyhow if allottee does not pay installments in time, it will be prolonged. In case of delay in handling over the possession, the company will pay mark up to the allottee at the bank rate for the period of delay.
This condition will be subject to the timely payments to the builder.
- The payment of installments must be made within 7 days of the given date. The defaulter shall be liable to pay a penalty of 3 % per month on due installments.
- Notice of the payments and all other notices for correspondence shall be sent at the last given address of the applicant as per the record of the company. The company will however not be responsible for the non-delivery of notices and correspondence etc.
- For reselling during construction of the project to any party, buyer will have to pay transfer fee as per policy of the Royal Homes. The transfer is subject to the clearance of all dues/ charges at the time of receiving such an application.
- The final letter of allotment will be issued on receipt of total payment and fulfillment of all terms and conditions described in the bylaws of the project.
- That the allottee shall comply with and abide by the rules, regulations, bylaws, orders and direction that may be issued by Aziz Bhatti Town and Paragon City (Pvt) Ltd.
- After one year escalation will be charged at 1 % per month on the balance outstanding price.
- Apart from the price of the said home, the allottee will also pay documentation charges for transfer/ registry. Connection charges for electricity, Gas and Water Supply will be charged extra.
- All disputes between the company and the allottee relating to the house shall be referred to arbitration and the decision of the authority shall be final and binding on both the parties.