Terms & conditions

1. On registration and booking, Sales and Purchase Agreement shall be executed

between the promoter and the owner (Applicant).

2. The concept of the transaction shall be sale of land/land share on the condition
that promoter shall only be undertaking the construction utilizing the funds to be made
available by the owner, through advances.

3. On completion of the construction, promoter shall arrange legal transfer of the

property of the land share in favor of the owner at the cost of the latter, which shall be
subject to the owner paying all the outstanding dues to the promoter.

4. The measurements/specifications given in the brochure shall be subject to

variations of minor nature, if such changes are warranted due to statutory or commercial
requirements that shall not be objected to by the owner.

5. Residential/Commercial Apartment buildings are constructed by the promoters

and handed over to the owners on fulfilling the agreemental obligations by the parties
concerned. The maintenance responsibility of the Building is with the Society /
Associations of the owners, which shall be formed in conformity with the Kerala
Apartment Ownership Act 1983.

6. Besides the payment of the construction cost in the manner incorporated in

relevant schedule in the agreement, owner has to bear the following expenditure.
(a). Electrical/Water connection deposits/Charges, Expenses towards electrical
transformer/Generator, Power cabling, KSEB deposit against energy meter installations
and any other statutory fees.
(b). 2% of the value towards the Works Contact Tax related to the construction.
(c). 1% of the value towards the contribution to the Kerala State Construction
Workers Welfare Fund.
(d) . Building tax, Corporation Tax, any other tax/levies likely to remain payable
and promoters service charges in respect of a,b,c and d above.

7. Once booked and confirmed, the owner is not normally expected to cancel. In
the event of cancellation the amounts advanced by him shall be refunded without any
interest, only if the Promoter finds an alternative buyer.

MAINTENANCE

The initial six months period after the completion of the project will be treated as the
defect liability period. During this period Heera will take charge of maintaining the
"Palace", in its pristine form at the cost of the owners