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| How to Bid – Conditions of Bidding |
- Once made, a bid may not be retracted. It may however be increased or moved to a different unit number.
- If a bid is rejected by the Seller the initial Bid Deposit of Rs.5.0 Lakhs (Rupees Five Lakhs only) shall be
refunded in full. If the bid is accepted the Bid Deposit shall be adjusted towards the initial 15% payment.
- The cheque for the Bid Deposit amount of Rs.5.0 Lakhs (Rupees Five Lakhs only) will be presented only on acceptance of the bid.
- Once a bid is accepted by the Seller and communicated to the Bidder in writing, it becomes binding on the Bidder and the Bidder has 15 days in which to pay the balance of 15% of the purchase price, and execute the sale agreement.
- The contract price will be confirmed when the Allotment Letter is issued.
- The Bid Deposit will be Rs.5.0 Lakhs (Rupees Five Lakhs only) per unit and the Bidder(s) has to pay a minimum of 15% of the total cost of the unit, less the Bid Deposit amount, within 15 (Fifteen) days from the date of the bid being accepted in writing by the Seller. All payments should be made in favor of “Satya Investments” against official receipts issued by the company.
- “Satya Investments” reserves the right to cancel the allotment and forfeit the Bid Deposit paid by the Bidder, if the amounts are not paid as per the terms herein.
- The Bidder(s) has to execute the Agreement for Sale and Construction Contract immediately after the payment of 15% of the total cost of the unit. The Bidder can avail in-house Home Loan Support Services free of cost. Upon execution of Agreement for Sale and Construction Contract, the terms and conditions mentioned in the Agreement for Sale and Construction Contract shall be binding on both the Seller and the Bidder(s) in super-cession of bid terms and conditions.
- Transfers, without a transfer fee, are allowed only amongst family members Father/ Mother/ Wife/ Husband/ Son/ Daughter). In case of transfer to third parties, it will be subject to Satya Investments” consent in writing and if consented, a transfer fee of 5% of the total value of the unit will be imposed.
- All refunds, if any, will be made without interest, by local cheque only, within 60 working days from the date of cancellation.
- Service charges, maintenance charges and all other expenses including infrastructure expenses like electricity, water & sanitary, cable, telephone, and internet connection will be met by the Bidder(s).
- Statutory expenses like Stamp Duty & Registration charges and Legal/Incidental expenses for registering the property will have to be borne by the Bidder(s) with Taxes as applicable. Increase in existing tax levies and any fresh Governmental levies, applicable during the contract period shall be met by the Bidder(s).
- Delivery date indicated is subject to the “Force Majeure” clause. Every effort will be made to obtain electrical, sanitary and water connections within the stipulated delivery dates.
- Dimensions and details provided in the accompanying literature are approximate and are subject to alteration without any notice. The structures shown in the perspective are conceptual designs and may vary at the time of execution. The location of the facilities like amenities etc., is subject to change, depending upon the architect’s advice for better planning.
- Changes in standard specifications by the Bidder(s) are generally not acceptable, as changes adversely affect the completion schedule of the project.
- All payments should be made by way of account payee demand draft/local cheque in favor of “Satya Investments” payable at Bangalore.
- This bid is subject to acceptance by “Satya Investments” in writing and receipt passed for earnest money is tentative.
- “Satya Investments” nor any of its employees are authorized to accept cash.
- “Satya Investments” reserves the right to accept and/or reject a bid without giving any reason whatsoever. “Satya Investments” may also sell or dispose of any unit prior to the closing of the bidding process.
- The booking is subject to Bangalore jurisdiction.
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