INDICATIVE TERMS AND CONDITIONS FORMING PART OF THIS APPLICATION FOR ALLOTMENT OF SHOP/COMMERCIAL SPACE IN THE AFFORDABLE GROUP HOUSING COLONY KNOWN AS ‘AVENUE 86’, SITUATED IN THE REVENUE ESTATE OF VILLAGE BADHA, SECTOR-86, TEHSIL-MANESAR, DISTRICT- GURUGRAM,HARYANA, BEING DEVELOPED BY M/S GLS INFRAPROJECTS PRIVATE LIMITED.
The terms and conditions given below are tentative and indicative in nature with a view to acquaint the Applicant(s) with the terms and conditions as comprehensively set out in the Buyer’s Agreement which, upon execution, shall supersede the terms and conditions set out in this Application.

1. The allotment of the Shop is entirely at the discretion of the Company. The allotment of the said Shop shall be provisional and shall be confirmed on signing of Allotment Letter/ Buyer’s Agreement as provided by Company, which has been read and understood by the applicant(s).

2. The applicant(s) has examined the plans, designs, specification of the Shop and agrees that Company may aect such variations and modifications therein as may be necessary or as may be approved/instructed/required bythe competent authority or as may be consented to by the applicant(s). The changes/ alterations may involvechange in position/ location of the unit, its floor, dimension, area etc. The applicant(s) further agrees that no
claim, monetary or otherwise will be raised in case of any such change which is in accordance with the provision of applicable laws or the terms of this Application.

3. The applicant specifically agrees that application for the said Shop in the said Commercial Complex is purelytentative and the Company may at its sole discretion decide not to make any allotment.

4. The applicant/allottee agrees that the amount paid with the application and in installments as the case may be, to the extent of 10 % of total sale consideration of the Shop shall collectively constitute the earnest money, which shall be liable to be forfeited if the allottee(s) acts in breach of any of his obligations.

5. In the event of any delay by the applicant in making any payment, the Company shall be entitled to levy interest on all outstanding dues from their respective due dates at such rate as is prescribed under the provisions of Haryana Real Estate (Regulation and Development) Rules, 2017 (the ‘Rules’)

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6. The applicant(s) hereby agrees that in case of cancellation of booking/allotment of the said unit, the applicant(s) shall submit a ‘No Objection Certificate’ from the concerned real estate agent or broker, if any, in this regard and submit the same to the Company for processing of the cancellation of booking/ allotment, failing which the Applicant hereby agrees that the brokerage/ commission paid by the Company to such real estate agent/broker
shall be deducted by the Company from the amount liable to be refunded to the applicant(s) as per terms of the Application Form.

7. The applicant(s)/ allottee(s) has specifically agreed that if due to any change in the layout, the said Shop ceases to be preferentially located, the Company shall refund/adjust the amount of preferential location charges paid by the applicant(s)/ allottee(s) in the last installment as shown in the payment plan. If due to any change in the layout/building plan, the said Shop becomes preferentially located, then the applicant/allottee shall be liable and agrees to pay the preferential location charges as and when notified by the Company as per prevailing rates.

8. All statutory/regulatory charges, taxes, cess, GST and/or other levies, including any incidence of enhancement therein demanded or imposed by the concerned authorities shall be payable proportionately by the applicant(s)/allottee(s) from the date of booking as notified by the Company.

 9. The maintenance, upkeep, repairs, security, landscaping and common services etc. of the project shall be managed by the Company or its nominated Maintenance Agency. 

10. That the company shall complete the construction of the said shop on or before 28.12.2025. Upon receipt of the occupation certificate/completion certificate respect of the said Shop, the Company shall issue a written notice oering the possession of the said Shop(’Oer of Possession’), to the applicant(s). Oer of possession of the said Shop shall be given within 3 (three) months to the applicant(s) from the date of receiving of the
occupancy/completion certificate. Upon receiving the Oer of Possession from the company, the applicant(s) shall take possession of the said Shop from the Company by executing necessary indemnities, undertakings and such other documentation as prescribed in the Agreement for Sale, and the Company shall give possession of the said shop to the applicant(s). In case the applicant(s) fails to take possession within the time provided in the
Oer of Possession, such applicant(s) shall continue to be liable to pay common area maintenance charges and holding charges in accordance with the Agreement for Sale. 

11. If the Oer of Possesion of the said Shop is delayed due to force majeure, court orders, government policy/guidelines/ decision which aecting the regular development of the project, then no claim by way of damages/compensation shall lie against the Company in case of delay in handing over the possession on account of any of the aforesaid reasons and the Company shall be entitled to a reasonable extension of time for the delivery of possession of the said Shop to the applicant(s)/allotee(s). Where the delay in handing over the possession is not on account of any of the reasons mentioned above, the Company shall, if so opted for by the applicant(s), pay to the applicant(s) an interest at such rate ( As per HRERA rules) as is provided for under the Rules for every month of delay till the handing over of the possession of the said Shop. The Applicant(s) agrees and confirms that, in the event it becomes impossible for the company to implement the project due to Force Majeure or above mentioned conditions, then this allotment shall stand terminated and the Company shall refund to the applicant(s), the entire amount received by the Company from the applicant(s) within ninety days. The Company shall intimate the applicant(s) about such termination at least thirty days prior to such termination. After refund of the money paid by the applicant(s), the applicant(s) agrees that he/she shall not have any rights, claims,etc. against the Company and the Company shall be released and discharged from all itsobligations and Liabities in all respects. 

12. The Company shall have the first lien and charge on the said Shop for all its dues and other sums payable by the applicant/allottee to the Company. 

13. Loans from financial institutions to finance the purchase of the said Shop may be availed by the applicant/allottee. However, if a particular Institution/ Bank refuses to extend financial assistance on any ground, the applicant/allottee shall not be entitled to make such refusal an excuse for non-payment of furtherinstallments/dues.

 14. The Applicant hereby agrees that only after signing and execution of the Allotment Letter and/or Buyers’ Agreement, the allotment shall become final and binding upon the Company. If, however, the applicant(s) withdraws/ cancels this application or fails to sign/ execute and return the Allotment Letter and Buyers’ Agreement within thirty (30) days from the date of its dispatch by the Company then the Company may at its sole discretion treat the said application as cancelled and the earnest money paid by the Applicant shall stand forfeited.

15. The applicant/allottee undertakes to abide by and comply with all the laws, rules and regulations, terms and conditions applicable/made applicable to the said Shop /Commercial Complex/Project.

16. The applicant(s)/Allotte(s) shall before taking possession of the said Shop, must clear all the dues towards the Shop and have the conveyance Deed for the said Shop executed in his/her favour by the Company after paying stamp duty, registration fee and other charges/expenses. The applicant(s)/Allottee(s) shall be fully responsible for paying any deficient stamp duty and other charges to the Govt. authorities. 

17. The applicant(s)/allottee(s) shall use/cause to be used the said Shop for lawful commercial purpose only and not for any other purpose. This is an irrevocable condition and the applicant/allottee will have to indemnify the Company its directors, officials and shareholders against any and all losses and costs incurred by them on account of breach of this condition. 

18. The applicant(s)/allottee(s) shall have no objection in case the Company creates a charge on the project land during the course of development of the Project for raising loan from any bank/financial institution. However, such charge, if created on the said Shop, shall be gotten vacated before handing over possession of the said Shop to the applicant/allottee. 

19. Detailed terms and conditions shall form part of the Buyer’s Agreement/ Allotment Letter which the applicant/allottee shall execute as required by the Company. 

20. The applicant(s)/allottee(s) shall get his complete address registered with the Company at the time of booking and it shall be his responsibility to inform the Company by Registered A.D. letter about all subsequent changes in his address, failing which, all demand notices and letters posted at the first Registered Address will be deemed to have been received by him at the time when those should ordinarily reach at such address (but in any case
within seven days of dispatch) and he shall be responsible for any default in making payment and other consequences that might occur therefrom. In all communications by the allottee(s) the reference of the allotted Shop must be mentioned clearly. 

21. In case there are joint applicants/allottees, all communication shall be sent by the Company to the applicant/allottee whose name appears first, at the address given by him for mailing and which shall for all purposes be considered as served on all the applicants/allottees and no separate communication shall be necessary to the other named applicants/allottees. 

22. If any misrepresentation/ concealment/ suppression of material facts are found to be made by the applicant/allottee, the allotment will be cancelled and the earnest money as mentioned hereinabove shall be forfeited and the applicant(s)/allottee(s) shall be liable for such misrepresentation/ concealment/ suppression of material facts in all respect. 

23. The applicant(s) have read and understood the terms and conditions mentioned herein. The terms and conditions herein are to be read in conjunction with the Allotment Letters/ Buyer’s Agreement, /Maintenance Agreement (if any) and other letter or communication sent by the Company, specific to the project.

 24. All decisions of the Company in connection with the application and the matters connected therewith shall be final and binding upon the applicant(s)/allottee(s), and they agree to accept the same without any objection. 

25. All or any disputes arising out of or touching upon or in relation to the terms of this Application Form including the interpretation and validity of the terms thereof and the respective rights and obligations of the parties shall be settled amicably by mutual discussion, failing which the same shall be settled through the adjudicating ocer appointed under the Act.