Interested buyers must submit an application for allotment in the prescribed Application Form along with all true information and the DOWN PAYMENT (Minimum 30% of the agreed price). The allotment will be made on "First paid, First served basis. However, higher amount of Down Payment will be given more preference in selection of interested buyers. The allotment will be given in Company Letterhead while notarized. The Deed of Agreement will be signed after collecting down payment from the Buyer. The company has the right to accept or reject any application without assigning any reason whatsoever.
The buyers must strictly adhere to the mutually agreed SCHEDULE OF PAYMENT of installments to ensure timely completion of the construc- tion. Any delay in payment will make the buyer liable to pay a Delay Charge @ 0.1% per day on the amount of payment delayed, effective from the scheduled date up to 8 weeks. If the payment is delayed beyond 8 weeks, then the company shall have the right to cancel the allotment with 1 week's written notice. In an event of such cancellation, the amount already paid by the buyer will be refunded after resale of the same allotted space and collection of the refundable amount from the next allotted space. The same refund rules would apply for the buyers, who may voluntarily cancel their reserva- tion at any point after 3 months of their allotment for any personal reason
The Company reserves the right to accept or reject any application for allotment. Buyers are liable to pay for any change or modification in specifications requested by them. Company reserves the right to refuse any such request that may affect building facade, exterior of allotted space and service systems, structural soundness etc. The Company reserves the right to modify the standard specifications and features due to non-availability, shortage of supply, hike of market price, architectural consultant's suggestion or overall standardization/benefit of the project. The Company reserves the right to revise the apartment prices in light of the contemporary Market standard in unanticipated cases of abnor- mally exorbitant price escalation of building materials, massive economic deflation, or, such substantial changes in the financial scenario.
The buyers may avail Loan from banks/financial institutions by mortgaging the allotted space through a Tri-party Agreement with the Devel- oper. The Developer will give necessary support to the buyer for processing the loan application, whereas the final decision of sanctioning the loan depends on buyer's credit merits and loan-giver's decision.
Until full payment of all installments, the buyer shall not have the right to transfer the allotment to a third party. Moreover, a Transfer Fee of Tk. 10% is payable to the Developer for transfer of allotment to a third party at any point of time before registration of the allotted space.
Connection fees, security deposits and other charges and costs relating to Power Connections, Water & Sewerage are not included in the price of the allotted space. The buyer shall make the payment directly to the authorities concerned. Should the company incur any incidental expenditure on these accounts, the buyer shall be liable to reimburse the proportionate share of that amount to the company. The buyer shall bear all costs relating to government taxes on the land and allotted space, transfer and registration of allotted space including the related incidental expenses.
The buyer must undertake to become a member of the Owners' Association that will be formed by the buyers of the allotted spaces for main- tenance, management and welfare of the compound. Buyers of the compound will create a Reserve Fund for the society before taking possessions of the allotted spaces.
For any reason that is beyond the control of the company including acts of God or economic depression, the company may abandon the Project and terminate the contract without any right of compensation by the allotted. In such an event, the company shall be bound to refund the buyer all monies that have been paid earlier within 3 months of official cessation of the project. Please contact us at the Corporate Office for detailed & full information on Terms & Conditions applicable for the allotment & registration of the commercial spaces.
Sheba Holdings Ltd. is a promising Real Estate company in Bangladesh having highly experienced management and committed professionals.
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