Plot Payments & Non-Refund
1. The Purchaser shall pay Citi Housing UK Pvt Ltd (hereinafter referred to as a “Marketing Company”) who acts as an agent of Citi Housing Pvt Ltd (hereinafter referred to as the “Seller”) a non-refundable reservation deposit equivalent to 15 percent of the purchase price and reserve the property subject to which the Marketing Company / Seller will hold the property off-sale strictly on and subject to the conditions set out below.
2. I/we (the Purchaser(s)) understand that the Marketing Company /Seller will reserve the property for me/us until the payments are made in full and in accordance with the schedule of payments provided by the Agent.
3. I/we (the Purchaser(s)) understand that the payments will be in accordance to the category/size of the plot and that the payments will be accepted by;
a. Bank Transfer to Citi Housing UK (Private) Limited’s account
b. Cheque in favour of Citi Housing UK (Private) Limited
4. I/we (the Purchaser(s)) agree that I/we have to strictly abide by the payment plan and that all the payments made are non-refundable.
Plot Installments
1. I/we (the Purchaser(s)) agree that if two consecutive instalments are overdue, my/our reservation shall be liable to cancellation, and if the Marketing Company /Seller opts to cancellation, all the payments made will be forfeited. Furthermore, my/our reserved property will be re-offered for sale.
2. I/we (the Purchaser(s)) agree that if two consecutive instalments are overdue and the Marketing Company /Seller opts to continue with the reservation, they will provide a specified time by which the outstanding payments including late payment surcharge will need to be paid in full; failure to make payments within the specified time will result in cancellation, forfeiture of payments and my/our reserved property will be re-offered for sale.
3. I/we (the Purchaser(s)) understand that any instalments paid after its due date will only be accepted with a surcharge of 1.5%, calculated at 0.05% per day.
Plot Terms & Conditions
1. I/we (the Purchaser(s)) understand that the size of the plot is tentative and is subject to adjustment after demarcation and measurements. In case of extra land forming part of the plot, there shall be a further charge in addition to the total amount; to be calculated at that stage, which I/we agree to pay.
2. I/we (the Purchaser(s)) understand that the Allotment of plots shall be through balloting.
3. I/we (the Purchaser(s)) understand that only one reservation form can be used for 1 plot and that the plot allocated shall not be used for any other purpose, other than the permitted use and no construction can initiate without the approval of the Design Studio Authorities.
4. I/we (the Purchaser(s)) understand that the Management Committee of the Marketing Company reserves the right to allot/sell a plot surrendered by me/us or cancelled from my/our name due to non-payment to any other applicant or person and that I/we shall have no rights left over the plot. The decision of the Management Committee shall not be challenged before any forum.
Authorised Sub Agent
1. I/we (the Purchaser(s)) understand that the Marketing Company /Seller may appoint a sub agent (hereinafter referred to as an “Authorised Sub Agent”) to carry out sales and if this applies, no payments will be made to sub agent. Any payments made will be in accordance to clause 3 above. The Marketing Company/Seller will take no responsibility of any payments made to the Authorised Sub Agents.
Mortgage or Sublease
1. I/we (the Purchaser(s)) agree that I/we will not be allowed to mortgage or sublease my/our plot of the land till such time that all the payments including surcharges have been cleared.
Dispute Policy
1. I/we (the Purchaser(s)) agree that in case of any dispute, the matter will be referred to the Arbitration Management Committee of the Seller first, who will in turn reasonably endeavour to resolve the dispute.
Byelaws, Rules and Regulations
1. I/we (the Purchaser(s)) understand that I/we will abide by these terms and conditions in addition to the byelaws, rules and regulations governing allotments, possession, ownership, constructions and transfer of plots, enforced from time by the Marketing Company and/or the Seller and/or any other authority/Department competent to do so.
2. This Reservation Form shall be governed by and construed in accordance with the laws of Pakistan. The Parties submit to the exclusive jurisdiction of the courts of Pakistan.
Personal Details
1. By signing this Reservation Form, the Purchaser confirms that the information provided to the Marketing Company and the Seller regarding personal details are true and accurate to the best of their knowledge and belief.
Confirmation
2. You will receive confirmation from the company after you have made initial payment. All development charges included except public building and electricity.