The mentioned rules, terms and conditions are for a draw of lots being conducted by Vera Developers Private Limited for project namely ‘Lok Awas’ situated at Village Balali, Sector 74-A, S.A.S. Nagar, Mohali, Punjab.
Terms & Conditions
- The persons above the age of eighteen years shall be eligible to apply.
- You can apply for more than 1 unit in all categories
Terms for Application
- The applicant is required to deposit application fee as mentioned in the advertisement/application form which can be paid by way of online payment gateway/demand draft/ E-challan/ cheque only in favour of Vera Developers Private Limited.
- No other fee will be charged from the applicant apart from the application fee by Vera Developers Private Limited.
- The Company shall not be liable to compensate for any extra expenditure that the applicant may have to incur against the application filled.
- The applicant authorizes Vera Developers Private Limited to communicate via SMS/Email/Phone as mentioned in the application form.
- The applicant shall not be permitted to withdraw the application on any grounds before the draw.
- SMS/Email/Phone served to the primary applicant shall be deemed to have been duly served to the co-applicants.
- The Company holds exclusive rights to reject any application on the grounds of ineligibility or any other grounds as it deems fit.
- The allotment of the Unit (Unit Number, Floor Number and Block Number) shall be done entirely by way of a draw.
- The applicant shall make the payments as per Unit Number, Floor Number and Block Number allotted to him in the draw of lots. In case of allotment of any unit on any floor made against the application in draw, the successful applicant will not be allowed to withdraw the allotment in any manner. In case the applicant does so, the application money shall stand forfeited.
- The applicant shall be liable to avail loans and subsidies on his own discretion and eligibility. The Company shall hold no responsibility whatsoever.
Other Applicable Charges
- The applicant shall be liable to pay the GST and all other governmental taxes as per the prevailing rates of the government on the confirmation of the allotment in the draw above the entire sale consideration of the unit.
- The applicant shall be liable to pay the stamp duty, registration of sale deed charges as applicable in accordance with the Law above the entire sale consideration of the unit.
- The successful applicant shall pay PLC and other charges as per plans of the unit allotted.
- Any information/documents supplied against the application if found to be false or fabricated and in case of payment not made in compliance with the payment plans of the allotment, the application fee shall stand forfeited.
- In case of allotment of any unit on any floor made against the application in draw, the successful applicant will not be allowed to withdraw the allotment in any manner. In case the applicant does so, the application money shall stand forfeited.
- 100% application fee shall be refundable in case of failure to succeed in draw of lots.
- The unsuccessful applicants can apply for a refund after the draw has been conducted.
- The application fee shall be subject to refund within a period of Ninety (90) days, without any interest, from the receipt of the refund application along with an affidavit duly attested by a notary sent at Vera Developers Private Limited, Old Kalka Road, Park Street, Near Patiala Chowk, Zirakpur-140603, and Punjab by way of RTGS/ NEFT by the Company in the account mentioned in the refund application form and the affidavit.
- On the initiation of the refund proceedings from the Company, the applicant simultaneously surrenders his rights to initiate any judicial, quasi-judicial proceedings against the Company.
- Any disputes or differences which may arise in any manner touching or concerning this allotment shall be referred to the Sole Arbitrator appointed with the consent of both the parties. The award of such Arbitrator shall be final and binding on the parties. Arbitration shall be governed by the Arbitration and Conciliation Act, 1996, as amended from time to time.
- The courts of Mohali shall have the jurisdiction in all the matters arising out of/touching and/ or concerning this Agreement regardless of the place of the execution of this Agreement.
Expected Possession Date
- The expected Date of Possession for Lok Awas Homes is in October 2023