The purchaser will make the payment as per payment schedule, detailed in the agreement.
Payment shall be made by way of bank Draft/Pay Order/ Account Payee Cheque in favor of Magnify Housing Estate Ltd. against which respective receipts will be issued to the allottee/purchaser.
Connection charges/fees, security deposits and other incidental charges/expenses related to gas, water, sewerage and electric connection etc. are not included in the price of apartments. The allottee(s)/purchaser(s) will make these Payments.
Because of any unavoidable reason and for the best interest, the developer reserves the right to make limited changes in the specification design and / layout of the apartments and other facilities.
The allottee undertakes to pay a delay charge at the rate of 3% per 30 days on the amount of payment delayed beyond the due date. The Company reserves the right to cancel the allotment if the payment is delayed beyond 90 days after a notice of reminder is duly served upon the allottee at the address given in the application form. In such case an amount of Tk. 1, 00, 000/- (Taka one lac) only will be deducted from the buyer's deposited amount for incidental charges.
The allottee will have the option to shift the apartment to any other project of the Company by giving a sum of Tk. 1, 00, 000 (Taka one lac) only for shifting charge.
The possession of each apartment shall be handed over to the allottee /purchaser on completion of apartment and after full payment of installments, other charges/dues. Until and unless the dues are not clear, possession of the apartment will be held by the Company.
The allottee/purchaser 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 of deed.
The completion of the project may be affected by unavoidable circumstances beyond the control of the company like natural calamities, political disturbance and the change in Govt. policy etc. , in that case allottee/purchaser shall not demand any compensation.
The buyers will form a co-operative society for all apartment owners for the security and maintenance of the building for which a sum of Tk. 50, 000/-(Taka Fifty Thousand) only will be paid to the Company. The Company/ Developer will transfer the amount to the buyers' Co-operative Society after it is formed. The Co-operative Society will be formed before the handover of the Project is executed.