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Payment of installment

Down Payment, installment, Car Parking cost. additional work & other charges payable shall he made by A/C payee Cheque / Pay-Order/ DD in favor of Radix Design & Development Limited against which receipt will be issued by the Managing Director. Any kind of cash payment is strictly prohibited. Radix Design & Development Ltd. will not be responsible for such kind of payment.

Schedule of payment

Payment of installment and other charges are to be made on due dates. The company may issue reminders to the Allottee but notwithstanding the issue of reminders; the Allottee must adhere to the schedule of payment to ensure completion of construction in time. In case of default in payment of the installment amount within the due date as per the agreed payment schedule, 3% cumulative delay charge per month shall be charged on the unsettled Installment amount.

Payment of consideration

That, the above mentioned time so fixed for payment of consideration money shall be the essence of this contract. In case of purchaser’s default in payment of any installment within 15 days on expiration of date as mentioned above in case of each installment, the Developer may charge of 3% per month on the payment due from the date when the installment was payable. But, if the allotte fails to make payment of installments for a total of three (03) times, the Developer shall have the right to cancel the allotment to the purchaser and rescind this agreement by given a prior registered notice of 30(thirty) days.

Mode of refund

the Developer shall have full and absolute right to allot the apartment along with proportionate land as mentioned in the scheduled-B property to someone else and money paid by the purchaser shall be refunded to the purchaser after deduction of 15% of the deposit as compensation. In such case mentioned above, the refundable money will not be paid until & unless the concerned apartment is allotted to a new allottee. The mode of refund of the money in the above two cases will be made within next 06 months of a 30 (thirty) days prior register notice by A/C pay chaque in the manner determined by the Developer.

Modification of the work

If the allotte intends to have any modification of the civil or electrical work of his/her apartment compared to the set by Radix Design and Development Ltd., any such modification written request shall be approved by developer within next 30 (thirty) days of signing the allotment letter of the said apartment and the request shall first be assessed by the Radix Design and Development Limited management. Implementation of any such modification work, whether in part or full is strictly subjected to prior approval of Radix Design and Development Limited management.

Cost effective

In the event where additional case is involved in implementing any such modification request; the concerned allottee must have to pay such cost before the execution of those works. Moreover an allottee is allowed to make the modifications of his/her apartment only once within the execution time fixed by developer and if allottee fails to execute or do all the work within time given by developer, Radix Design and Developer Limited shall complete the all the work by its standard.

  • That, if the purchaser desires to have sanitary ware, bathroom fittings, accessories and internal painting according to his own choice in place of the standard ones as selected by the Developer for all apartment building or flats in general, then the Purchaser shall within 30 (thirty) days of the signing of the agreement intimate in writing regarding his choice to the Developer and agree to pay additional cost for the items of his choice and additional works. And if allottee fails to execute or do all the work within time given by developer, Radix Design and Developer Ltd. shall complete the all work as their standard.

  • Civil layout, electric layout, modification. finishing material confirmation should be completed within 30 days after dispatch of request letter for the mentioned purpose, if it doesn’t. civil layout and electric layout will be made as per Radix Design & development Ltd. standard. However, no modification will be done after official handover of the project. If there is any modification it has to be apartment owner with his own cost and arrangement.

  • If any allottee wants to do the interior decoration of his / her apartment, he / she must have to take a provisional handover by paying all the outstanding dues against the said apartment on or before 05 (five) months of scheduled handover date. The allottee will have to handover his/her apartment again to Radix Design & Development Ltd. custody before 01 (one) month of the scheduled handover to complete the remaining finishing works in the said apartment.. In case of failure in this regard from allotee‘s end, Radix Design & Development Ltd. will not have any responsibility to complete the finishing works of the said apartment.

  • During the period of the interior work at allottee‘s own arrangement, If any damage is caused to any material or fittings or fixtures of the apartment or if any such material or fittings or fixtures are prepared or is lost in any manner, Radix Design & Development Ltd. will not have no liability for any such loss or damage and accordingly cost of any necessary repair or replacement has to be done by the allottee. Payment for any such procurement, repair and / or replacement has to be made by the allottee in advance.

  • The possession of each apartment shall duly be handed over to the Allottee on completion and on full payment of installments and other charges and dues. Until the possession will held by Radix Design & Development Ltd. Before the official declaration of the readiness of the whole project no allottee will be allowed to take the final possession of his/her apartment. Readiness of the project means completely finished project with all utility facilities.

  • That the purchaser shall pay to Radix Design & Development Ltd. proportionate cost of water supply and sewerage connections, electric connection and gas connection. Payments by way of security deposit, connection fees, relevant installation cost and other incidental charges for other utilities and facilities shall be made by the purchaser. Permission where necessary for the installation of electricity, gas, water supply, sewerage and other equipments shall be obtained by Radix Design & Development Ltd. on behalf of the purchaser from the concerned authorities. If such expenses have been done by Radix Design & Development Ltd. the purchaser shall repay for the same.

  • However; if the concerned authorities do not provide any utility service within the expected timeframe, then Radix Design & Development Ltd. will not be liable for this delay. The construction of the Apartment will be considered as completed when all construction work has been done irrespective of whether or not the utility services have been provided by the concerned government authority, In case of any restriction or embargo on provision of utility connections imposed by the Government and / or by the concerned utility service providing authority, Radix Design & Development Ltd. shall not be responsible for providing any / all of such utility connections until such time the restriction or embargo is withdrawn and processing of the application for utility connection is resumed by the concerned authorities.

  • In case of difference in size of apartment during possession hand over, the necessary payment for any price reund/demand has to be completed by the company/allottee.

  • Up on registration, the apartment owner, irrespective of the floor, will become the proportionate owner of the undivided and undemarcated land on which the building is constructed.

  • The Allottee has to take his / her flat registration on being offered, by clearing all the outstanding dues and necessary documents as may be required to complete the registration process. In case of delay of taking registration, allottee has to bear the cost of holding tax and any other tax levy by the authority at the time of final settlement..

  • Until the full payment of all the installments are made, the buyer shall not transfer and/or sell the unit allotted to him/her to a third party without prior permission from the company Radix Design & Development Ltd. on payment of transfer fees to the extent of 2% of the total agreed price of the apartment space. Meanwhile; in case Govt. revises the rate at registration, the cost of such revision shall be done by the allottee.

  • After having possession of the Apartment, the Allottee must consult with the Radix Design & Development Ltd. prior to undertake any structural or layout change within the apartment complex. Failure to do so will be at the sole risk of allottee.

  • The completion period may be affected and delayed by the unavoidable circumstances beyond the control of the company, like Global economic crisis, Force Majeure, Natural calamities, Political disturbances, Act of God, strike, non availability of material, change in the Policy of the Govt.. etc. The grace period may be extended up to 06 months.

  • After handing over the apartment to all the allottee, Radix Design And Development Ltd. will provide 06 (Six) months service warranty for any defect in main electrical fittings, sanitary fittings and other utility connection lines. However; this service warranty does not cover any defect caused due to purchasers negligence or mishandling. After the expiry of warranty period any additional cost will be incurred for any kind of repairing or modification of the Apartment, the owner will bear any such expenses.

  • If for any reason beyond the control of Radix Design & Development Ltd. the implementation of project is abandoned, Radix Design & Development Ltd. will refund to the allottee the downpayment and all installments deposited within 01 (one year) from the announcement made to this effect.

  • After handing over the apartment to the allotee, a Co-operative society shall be formed. All apartments owners shall be members of the society by contributing in the reserve fund. The Owner Co-operative society shall manage the common facilities of the apartment and all the common interest of the apartments owners.

  • No modification will be allowed on elevation and facade’ of the complex, sanitary line structure etc.

  • That, after construction of the construction of the demised apartment, the Developer shall give notice to the Purchaser to take vacant possession of the demised apartment within 30 (thirty) days of the dispatch of the notice. In case of failure on the part of the Purchaser to take delivery of possession of the demised apartment within the said time limit, the purchaser shall be liable to pay to the Developer a sum of Taka 500.00 only per day up to a period of 60 (Sixty) days as charge for protecting, guarding and care taking of the demised commercial space. After the expiry of the said period of 60 (Sixty) days, the Developer shall have no responsibility whatsoever for protecting, guarding & care taking of the demised commercial space. All utility cost of the said apartment space during this period shall be borne by the purchaser.