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Terms & Conditions of Allotment

 


1. Applications for allotment of apartments should be made on the prescribed application form duly signed by the applicant along with the Down Payment.

2. “Metro Homes Dev.Ltd” will issue an allotment letter with specific terms and conditions to the applicant. The applicant/allotted shall then start making payments as per the Schedule of Payment.

3. All payments shall be made by Bank Draft or Pay Order or A/c Payee Cheque in favor of “Metro Homes Dev.Ltd”. Bangladeshis residing abroad may remit payments by TX or DD.

4. Payments of installments, car park costs and all other charges are to be made on due dates. “Metro Homes Dev.Ltd” may issue reminders to the allotted but, notwithstanding the issue of reminders, the allotted must adhere to the Schedule of Payment to ensure timely completion of construction.

5. Delay in payments will make the allottee liable to pay a delay charge of 0.1% per day on the amount of payment delayed. If the payment is delayed beyond 60 days “Metro Homes Dev.Ltd” shall have the right to cancel the allotment. In such an event the amount paid by the allottee will be refunded after deducting 10% service charge only within three months from the date of cancellation/ surrender.

6. “Metro Homes Dev.Ltd” and the allottee will be required to execute an agreement for safeguarding the interest of the allottee as well as “Metro Homes Dev.Ltd”

7. Connection fees/ charges, security deposits & other incidental expenses relating to gas, water, sewerage and electric connections are not included in the price of apartments.

8. “Metro Homes Dev.Ltd” may cancel an allotment on non-payment of installment in disregard of reminders and after final intimation to allottee by registered post at the address given in the application form.

9. The possession of each apartment shall be duly handed over to the allottee on completion and on full payment of installments and other charges and dues and till then the possession will rest with “Metro Homes Ltd”.

10. The allottee will pay stamp duties, registration fee, documentation charges and any other taxes and expenses likely to be incurred in connection with the Deed of Agreement, Allotment, Registration, Transfer etc.

11. If, for any reason beyond the control of “Metro Homes Dev.Ltd” the implementation of the project is abandoned, “Metro Homes Dev.Ltd” will refund to the allottee the Down Payment and all installments deposited within 60 (sixty) days from the announcement made to this effect. In this eventuality, the allottee will not be entitled to any claims or damage whatsoever.

 


 
       
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