Applications for allotment of apartments should be made on the prescribed application form duly signed by the applicant along with the Booking Money. SARA Properties Ltd has the right to accept or reject any application without assigning any reason thereto.
On acceptance of an Application, SARA Properties Ltd will issue an Allotment Agreement with specific terms and conditions to the Applicant. SARA Properties Ltd and the Allottee will be required to execute an Agreement as per the Company’s prescribed format. The Applicant/Allottee shall then start making payments as per the schedule of payments. Allotments of apartments are made on first come first serve basis.
All payments of Booking Money, Installments, Additional works and other charges shall be made by Check/Bank Draft or Pay Order or Crossed Check in favor of “SARA Properties Ltd.” for which respective receipts will be issued. Bangladeshis residing abroad may remit payments by TT or DD.
Payments of installments, Car parking costs and all other charges are to be made on due dates. SARA Properties Ltd. may issue reminders to the Allottee but, notwithstanding the issuance of reminders, the Allottee must adhere to the schedule of the Allotment.
Delay in payments beyond the due date will make the Allottee liable to pay a delay charge of 0.26% per day on the amount of payment delayed. If the payment is delayed beyond 50 days, SARA Properties Ltd. shall have the right to cancel the Allotment. In such an event the amount paid by the Allottee will be refunded after deducting incidental expenditure.
The Allottee shall pay all Taxes, VAT, Security deposits & other incidental expenses relating to gas, water, sewerage and electric connections are not included in the price of Apartment these payments will be made by SARA Properties Ltd. directly to the authorities concerned on the Allottee’s account. Every Allottee will be billed proportionately on actual cost basis.
Limited changes in the specifications, design or Layout of the apartments and other facilities may be made by SARA Properties Ltd. in larger overall interest or due to unavoidable reasons.
The possession of each apartment shall be handed over to the Allottee on completion and on full payments of installments and other charges and dues and till then the possession will rest with SARA Properties Ltd.
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 and transfer etc. The actual costs incurred shall be charged.
After taking over the apartment or the project, the Allottee(s) must consult with SARA Properties Ltd. prior to undertaking any structural or layout changes within the apartment complex. Failure to do so will be at the sole risk of the Allottee(s).
The schedule of implementation has been prepared keeping in view both quality and smooth progress of work. Construction is scheduled to be completed within 24 months.
The completion period of the construction of the project may be affected by unavoidable circumstances beyond the control of SARA Properties Ltd. Like force majeure, natural calamities, political violence, strikes and changes in the fiscal policy of the state etc.
The Allottees, after full payment of dues, will elect from among themselves a Board of Management for managing the general affairs in the common interest. Each Allottee must deposit minimum Tk. 25,000/- or any suitable amount determined by the company as the reserve fund for initial common service expenses of the complex.