Terms & Conditions

1. Application for allotment of apartment should be made on the prescribe application from duly signed by the applicant/applicants. Allotment shall be made on first come- first serve basis on receipt of the booking money as per application.

2. Buyers willing to make onetime payment will be given preference and attractive discount will be allowed to them expect on the booking money, Cost of car-parking space and utility costs.

3. Until the full payment of the installments, the buyers shall not have the right to transfer the allotment to third party without the concern of the company.

4. The possession of the apartment/apartments and car parking space will be handed over on receiving of full payment and on completion of all works as per time schedule of the company.

5. In case of any cancelation of booking/ allotment of an apartment by the buyer may forfeit the boking money and also 10% of the deposited amount as service charge/ incidental expenses. The remaining payable amount will be refunded after selling of that apartment to a new buyer on the basis of as and when receive from the new buyer.

6. The company preserves the right to accept or reject application for an allotment of apartment. The company may make minor changes in design and specifications of the premises project which become necessary. That the optional choice of the allottee may be accommodated by the builder/ developer depending on the progress of work and availability of materials in the market. Payments are to be made in advance for the additional works to be undertaken. However, the entire dues amount will be paid before the tiles work for start.

7. The buyer shall bear all costs relating to cost of stamps. Registration fees and related legal fees etc. the company will help necessary arrangements for all such formalities.

8. Utility connection fees, apartment owner’s association fees and other incidental charges and costs relating to gas water, sewerage, power connection etc. are not included the price of the apartment. The company may not make these payments directly to the concerned authorities on allotee’s account. The allottee shall have to pay those charges apartment wise on actual cost basis before taking possession of the apartment.

9. All payments are to be made by a/c. payee cheque/bank draft/pay order etc. in favor of nawar properties limited. The buyer must strictly adhere to the payment to the schedule of the payment to ensure timely completion with 4% (four percent) on the dues amount against installment delayed. If payments are delayed 02(two) consecutive times, the builder/developer may exercise the full right of cancellation of the allotment with serving 15 (Fifteen days) notice and may forfeit the booking money and 10% of the agreed cost. In case of and also 10% of the deposited amount as service charges/ incidental expenses and the remaining payable amount will be refunded after selling of that apartment to a new buyer on the basis of as and when receive from the new buyer.

10. The buyer must become the member of the apartment owner’s association which will be so formed by the buyers of the apartment and duty registered for the management of the common services such as pumps, lift electrical generator (if any), and annual maintenance fees of the complex etc. each buyer of the apartment will deposit tk. 50,000/- (taka fifty thousand) only for one-time deposit. The monthly utility services expenses will be borne by the apartment owners as per requirement. Which will be decided by the company until formation of apartment owner’s association.

11. The project completion duration is 36 months from the date of commencement. The schedule so fixed shall however be entertainable at the option of the builder/ developer if this becomes necessary on account of non-availability unusual price fluctuation of the required building materials and components act of god, natural calamity, strikes, civil common or any other reasons beyond the control of the builder/ developer.