051-111-111-270

info@universitytown.com.pk

Capital Plaza, First Floor, Office 15, 16, 31 & 32, G-11 Markaz Islamabad

Terms & Condition

Life Is Beautiful Terms & Condition Applied…!

1.That the name of project shall be “University Town” and land/ plots of various size(s) [subject to availability] will be offered to buyers on first come first served basis.

2.That all Pakistani citizens and overseas are legible to apply for purchase of land/ plots.

3.That non-refundable registration fee of Rs.5, 000/- shall be charged from buyers.

4.That the offered price of plot is tentatively fixed, and the management has the right to increase prices/value, at any time as per situation/circumstances before the completion of the project.

5.That in case of any increase in price, decided in the board of director, the buyer is bound to pay the said increase in price value of the plot at any subsequent stage.

6.That the buyer/allotte shall have to pay 10% extra charges for Corner/Main Road/Park Face Plots.

7.The expenditure of utilities i.e for Electricty, Sui gas, Water supply network and Conservancy Charges etc, shall not be included in the cost of development work, and allotte shall pay this amount on demand according to given schedule.

8.That all applications for booking/allotment shall be submitted on the prescribe form duly filled and signed by the applicant along with the pay order/DD in favour of University Town (Private) Limited.

9.In case any buyer/allotte desires for cancelation of the booked.allotted plot and wants to refund the amount deposited towards the cost, the amount shall be refunded after resale of the said plot and deduction of 20% will be made of the total price as service charges, afterone year from the date of written request. The mode of payment will follow the same pettern as payment recived.

10.That the allottee shall pay all dues of the plot/ land as per schedule intimated at the time of booking, in case of nonpayment or delayed payment the extra charges @ 15% per annum shall be charged/collected along with original amount.

11.That in case of cancellation of booking/allotment of the plot by the Company, the refundable deposited amount shall only be refunded after re-sale and deduction of booking charges upto 150% of total price within one year from the date of written reqest.

12.That the buyer/allotte shall not sub-left, transfer or sell the allotted plot/land to other person without prior written approval/permission of the competent authority, however, the plot can be transferred after clearance of all outstanding dues on or before the said transfer.

13.That the payment schedule is fixed for every installment which is the essence of contract. In case of default management has reserved the right to, change the location of plot, cancel the allotment, any other change as thinks appropriate.

14.That in case of default in the payment of dues for consecutive (3) monthly or (1) one quarterly installment (as the case may be) within stipulated time period, a reminder / demand notice for (30) thirty days shall be served to the buyer/ allottee through registered AD/ courier on address provided in the application form, followed by second reminder notice for (15) fifteen days. In case of non-payment of dues after second reminder notice, the management shall reserve right to issue final notice for cancellation of booking/ allotment of the instant land/ plot. In this scenario, the amount received by the management till that date may be refunded when the same plot/ land is being booked by a new buyer vis-à-vis after deducting an amount equivalent to 15% of the total price of the plot as service charges. However, the decision of BOD is binding/ final regarding the restoration of plot with restoration fee for certain period as special case.

15.That in case the allottee has desired to adjust his/her deposited amount against the cancelled plot towards the payable amount of the active plot the same has adjusted with the approval of Board of Directors after deduction of 15% on deposited amount as service charges.

16.If any query arises as to whether any matter is a matter of policy, or not, the decision of the Board of Directors “BOD” shall be final.

17.That the allottee shall abide all existing laws, rules regulation, by-laws and all other terms and conditions issued or to be issued from time to time by the management, Rawalpindi Development Authority or any other concern authority.

18.All construction or alteration of plots in the project shall be as per approved plan by the concerned Authority.

19.That the management undertakes to complete and deliver the project within the proposed time period. However, in case of late or non-payment from allotteeies, due to inflation, force majeure, which included acts of Allah, War (declared of undeclared), civil commotion, natural disaster, hostilities, fire, flood, earthquakes explosion, blockades and any other cause beyond the control of the management, it may abandon the project and will refund deposited amount within one year from the announcement made to this effect. It is clearly understood that in such eventually the allottee will not claim interest or damages of any nature what so ever form the management.

20. That the area of plot mentioned in documents is approximate. If the area is found more, the allottee shall be charged on the current value basis.

21.That the allottee shall pay all taxes, duties, charges etc. levied any time by the Federal Government, Provincial Government, local bodies, municipal bodies or any other authority/ agency including those existing at present and those that may be levies by the above mentioned and / or other authorities in future.

22. That the management reserves right for any change in location, size and dimension of the allotted plot/ land due to any change in layout plan.

23. That the allottee undertakes to abide by the terms and condition given above and shall not dispute any of these terms and conditions in any forum or before any court/authority. However if any dispute is accord between the parties then the matter to be referred to single arbitrator with consent of the parties for decision.