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Sh. Rajan Chopra (PARTNER) The
promoters shall construct or get
constructed at his own cost schools,
hospitals, community centers and
other community building on the land
set apart for this purpose or
transfer such land to the state
govt. either free of cost or upon
payment of actual cost of developed
land, as directed by the state govt.
which shall be at liberty to
transfer such land to any local
authority or any deem fit.
The promoter shall maintain a
separate account in any schedule
bank of sums taken by him from
persons intending to take or who
have taken the plots, as advance
towards the sale price or for any
other purpose and shall disburse the
money for meeting the cost of
development works, and shall on
demand, in writing, by the competent
authority, make full and true
disclosure of all transaction in
respect in respect of that
accounts.
Whenever the storm water drainage
system is to be laid in the
periphery, the promoter will proved
the same at his own cost
Promoter will transfer free of cost
the non-saleable open spaces like
roads, parks etc. in favor of
govt. or on favor of M.C concerned
before the expiry of License or
issue of the completion certificate,
which ever is earlier, such transfer
shall be free from stamp duty.
However, onus of the maintaining the
open spaces including parks and
roads for a period of five years
from the issue of completion
certificate shall continue to remain
with the promoter even after the
transfer non-salable open spaces
like roads, parks etc. |
