Terms & Conditions

Nature of Booking

This is a booking form for the area mentioned in the project being developed by SRIAS Lifespaces LLP. This booking does not convey in favor of the Applicant(s) any right, title or interest of whatsoever nature unless and until required documents such as SALE DEED are executed. This booking shall be confirmed only when the Applicant(s) shall pay the stipulated amount within time. Booking shall be rejected by the company if the Applicant(s) fails to pay the stipulated amount in time. The rejection of booking shall attract cancellation charges as per cancellation clause below.

Registration & Other Charges

Registration charges, GST and other incidental expenses applicable at the time of registration shall be extra and are to be borne by the Applicant(s). Other Government taxes / charges as applicable from time to time shall be extra and shall be paid by the Applicant(s). GST and other incidental expenses will be collected with every installment.

Mode of Payments

All payments shall be made through DEMAND DRAFT / CHEQUE / NEFT / RTGS etc. in favor of Rainbow Vision Developers LLP, as the case may be. The company shall not be responsible / accountable for any payment made to the agent / broker / any third person. The Applicant(s) must insist on a duly signed receipt from authorized personnel of the company.

Delayed Payment

In case of delayed payment of installments / any other dues by the Applicant(s), the company may condone the delay on its discretion and in that case interest at the rate of 2% per month or any part of a month shall be charged on such amount for the entire period of delay. The delay condonation period shall be a maximum period of 2 months. If the Applicant(s) does not clear its due payment along with delayed interest for a maximum period of 2 months, then the company shall be fully entitled to cancel the booking and deduct the cancellation charges as per cancellation charges clause below.

Loan

The Applicant(s) at his / her discretion and cost may avail loan from bank / financial institution. The company shall under no circumstances be held responsible for non-sanctioning of loan to the Applicant(s) for any reason whatsoever. The payment of installments or any other dues to the company shall not be linked to loan availed / to be availed by the Applicant(s).

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Return & Refund

Cancelation Charges

In case of cancellation / rejection of booking, for any reason whatsoever the cancellation charges at the rate of 10% on total cost of the unit and the taxes have to be paid. Refund will be made to the Applicant(s) within 90 days from the date of completion of all formalities with respect to such cancellation. Refund is subject to resale of the same unit.

Possession

The company shall handover the completed unit to the Applicant(s) after registration and all dues paid to the company. In case of delay in possession beyond the agreed date and its grace period.

Changes In The Drawings / Designs

The company reserves the right to change the building plan, layout plan etc., without any prior notice. The company has the right to change the design (height, location, area, site plan etc.) and specification at its sole discretion due to any requirement by the authority / company / court order.

Transfer Charges

The Applicant(s) is not allowed to transfer his / her unit to any third party in any manner whatsoever until the primary sale by the developer is completed. If in any case Applicant(s) would like to transfer his unit to a third party, it can be done upon payment of Rs.500 per sq.ft, subject to written consent taken from the developer. However transfer / resale can be initiated only after 24 months from the date of sale or registration of sale deed, whichever is earlier.