Terms And Conditions

The terms and conditions given below are of indicative nature with a view to acquaint the Applicant(s) with the terms and conditions as may be comprehensively set out in the Plot Buyers' Agreement which upon execution shall supersede the terms and conditions as set out in this Application. The Applicant(s) shall sign all the pages of this Application in token of his/her acceptance of the same.

The applicant(s) has applied for allotment of a PLOT to be developed in the upcoming Township named as “Samruddhisooru Royal Village” Phase 1, Phase 2 and Phase 3 (hereinafter referred to as the “Said Project") being developed by M/s Samruddhisooru Farms and Estates India Pvt. Ltd under lawful arrangement on plot of land admeasuring approx. 100 acres and above situated in DoddaKavalandeHobli, NanjanagudTaluk, Mysore District, Karnataka (hereinafter referred to as the “Project Land"). The Directorate of Town & Country Planning Department, (DTCP) has granted license for development of the Said Project. The Applicant(s) has/have fully satisfied himseIf/herself/themselves about title, right, interest and arrangement of the Company in the Said Project and has further understood all limitations and obligations in respect thereof.
The allotment of the PLOT is entirely at the discretion of the Company. Allotment will be done only after the cheque for the entire booking amount is received and encashed by the Company. Before the cheque is presented and encashed, the Company has the right to return the cheque without assigning any reason whatsoever, and shall have no obligation whatsoever to the applicant. The Plots are restricted to residential use and the Applicant is bound to use the PLOT for residential purpose only. The Applicant(s) has examined the layout, plans and designs of the PLOT which are tentative and agree that the Company may effect and make such variations and modiﬁcations therein as may be deemed necessary in the interest of the Project or as may be directed/done by any competent authority. The Applicant(s) agree that no claim, monetary or otherwise will be raised in case of any change in location and/or area of the PLOT. It is clariﬁed that the initial rate of booking of the PLOT will be applicable on the final area which may be slightly less or more than the area mentioned above.
The applicant have clearly understood that this application does not constitute an Agreement for sale and applicant does not become entitled to the provisional and/or final allotment of Plot notwithstanding the fact that the Company may have issued a receipt in acknowledgment of the money tendered with this application. This application is only a request of the applicant/ (s) for the allotment of the Plot subject to acceptance of the Company at its sole discretion (SAMRUDDHISOORU FARMS AND ESTATES INDIA PVT. LTD), and does not create any right, interest, title whatsoever or howsoever in any manner on the applicants/(s).
It is only after applicant signing and executing the Allotment Letter and agreement for sale, the allotment shall become final and binding upon the Company.
The applicant have read and understood the details and terms and conditions of sale and other information/conditions stated in the Allotment letter, Agreement for Sale as reflected in the Company website. After being satisfied with the documents and/or information provided therein the applicant hereby accept and agree to abide by the same as also such other terms as may be framed by Samruddhisooru Farms and Estates India Pvt. Ltd. in future. The applicant further agrees to sign and execute necessary documents as and when called upon by SAMRUDDHISOORU FARMS AND ESTATES INDIA PVT. LTD.
If, however, the applicant withdraw/cancel this application or fail to sign/ execute and return the Allotment Letter within fifteen (15) days from the date of its receipt by the applicant then the Company may at its sole discretion treat the application as cancelled and the booking advance money paid by applicant shall stand forfeited inentirety subject to deduction of the booking advance money.
The applicant in case a Non-Resident lndians/ Persons of Indian Origin do hereby declares that he/she/they/it shall use the Plot for residential purpose only.
The applicant may withdraw the application at any time before entering into an Agreement for Sale in respect of the Plot specified and described hereinabove. The applicant further state that if he/she/they/it failed to execute and register Agreement for Sale as and when called for or within the period as prescribed herein, the allotment may be treated as cancelled at company's sole discretion under both circumstances the booking amount stands forfeited.
The applicant agrees that the Plot shall be provisionally allotted and the Agreement for Sale of the Plot (AFS) shall be entered into only on the applicant remitting the booking and agreement amount as per opted payment schedule at the time of this Application Form. In the event of company agreeing to provisionally allot the Plot to the applicant agrees to pay further instalments of the total Consideration and all other dues as stipulated in the opted Payment Plan/ Agreement For Sale/ or as may be varied in accordance to the agreed terms and conditions as enumerated in the Agreement for Sale failing which company may in its discretion be entitled to cancel the allotment in accordance to the provisions of the Agreement for Sale subject to deduction of booking amount other applicable deductions.
If the applicant after execution of the Agreement for Sale, fails to pay the due amounts to company as per the demand / intimation sent to the applicant through post or courier or mail service, the applicant will become liable to pay interest at the rate of Prime Lending Rate of the State Bank of India plus one per cent per annum or such rate to company on the amounts due and payable from the respective due dates of such payment till the date it is paid in its entirety. If however, such payment is not made within a period of 60 days after the first default, company shall at its discretion, be entitled to cancel the application and refund all amounts received until then after deducting there from specified and described hereinabove, along with booking amount plus interest, brokerage charges plus applicable taxes, paid or payable. The applicant shall neither make, nor shall claim any claim for any damages, whatsoever, shall be tenable in the event of cancellation of the allotment.
Upon the applicant making payment of booking amount and realization thereof an Agreement for Sale of the Plot specified and described hereinabove, containing the terms and conditions agreed between company and applicant, will be prepared, and applicant shall be required to sign and register the same on the day of issuance of such Agreement for Sale to applicant without any delay or demand, along with the payment as per the terms of the said Agreement for Sale.
All statutory charges, taxes, cess, GST and other levies demanded or imposed by the concerned authorities shall be payable proportionately by applicant from the date of booking as per demand raised by the Company. Notwithstanding anything contains contrary herein above, applicant hereby understand that Applicable tax/GST (if applicable) shall be payable in accordance with the opted payment plan for payment of sale value of the said Residential Plot. If applicant fails to pay any of the instalments along with applicable GST of the sale value of the said Plot in timely manner, in such eventuality, the applicable unpaid service tax/GST shall be construed as unpaid sale value of the said Plot and applicant shall be liable to pay the due instalments along with due GST along with interest calculated @18 % per annum.
Applicant agrees that he/she/it shall be entitled to receive possession of the said Plot only upon prior payment of all his/her/their dues including the total sale value of the said Plot and also upon due compliance with and/or performance of all the covenants, undertakings and obligations required to be complied with and/or performed on Applicant's part in pursuance of this Application, Allotment letter and the Agreement for Sale. The obligation to make over possession of the said Plot shall arise only thereafter.
Company will also be entitled to reject applications containing information that is incorrect or misleading even after the provisional allotment and/ or Agreement for Sale. In such cases, Company will refund all amount paid till date after deducting 9% (nine per cent) of the Plot sale value specified and described hereinabove, being the Booking Amount, plus applicable taxes, interest accrued on delayed payment, brokerage paid in addition to all other charges and statutory charges as may be paid.
While construction /installation of any construction/fittings in the plot by the allottee, if any damage is caused to the other plot, such damage shall be repaired by the allottee at his/her own cost and in case of neglect the company and/or maintenance agency shall carry the necessary repair and recover the cost from the allottee for such damage.
Samruddhisooru Farms and Estates India Pvt. Ltd reserves its right not to consider this application and also the right to allot the Plot to any other person, without any obstruction/intimation to/ from the applicant/ or any other person, claiming the right and interest through him/her/them/it before issuing the Provisional allotment letter.
Applicant hereby agrees and understands that not to transfer/assign/change of name of the said plot for the period of 6 months from the date of allotment (lock in period). After such lock in period, change of name of the allottee for the first time will not be against any monetary charges. However, thereafter, for each change of name/ transfer of name, the Company will be entitled to charge Rs. 75,000/- even after sale agreement.
Applicant solemnly declares and undertakes that applicant shall transfer the name of the Allottee/ Allottees subject to norms laid down in respect of transfer of name and to be named in the Conveyance Deed or at any time after the execution of the Application, allotment letter and agreement for sale, but prior to registration of the Conveyance Deed. In the event of the demise of a single Allottee or of all the joint Allottees, the Nominees or any other person/persons, who can substantiate his/her/their being the legal heir/s of the deceased Allottee /Allottees shall be deemed to be the Allottee/s for all purposes and will become liable for all the obligations of and be entitled to all the rights of such deceased Allottee / Allottees. The Nominee/Successor shall without limitation, become liable to make all the payments that the deceased Allottee was obliged to have made, and only after making all the payments would the Said Nominee/Successor become entitled to have the said Plot transferred in his/her favour, and be entitled to the payments the deceased Allottee would have received in case of cancellation of the Allotment, for whatsoever reasons.
The applicant shall abide by all the laws, rules and regulations of the local body /State Govt. of Karnataka and of the proposed body corporate, association of the allottee (as and when formed till then as prescribed by the developer) and shall be responsible for all the deviations, variations, violation or breach of any of the condition of law/by laws or rule and regulation after the completion of the said project. The plot shall be used for the purpose for which it is allotted.
Samruddhisooru Farms and Estates India Pvt. Ltd at its absolute discretion shall be entitled to reject and or cancel this application without assigning any reason whatsoever or howsoever to the applicant and or SAMRUDDHISOORU FARMS AND ESTATES INDIA PVT. LTD. may allot an other Plot in lieu of the Plot applied for.
Any changes / directions / conditions / modiﬁcations / amendment imposed and /or directed by any of the competent authority/development authority at any stage of construction shall be binding on applicant as well as all other applicants who have signed similar application forms, without the requirement of any formal written approval or consent from applicant for making such changes modifications/amendment. If an application for provisional allotment of any Plot is required to be cancelled for such change of plans, Company will refund all amounts paid by the applicant. However, no interest would be payable on such amount/ amounts.
All payments shall be made in favour of "Samruddhisooru Farms and Estates India Pvt. Ltd".
The applicant/(s) acknowledge/(s) that the allotment of said plot will be subject to such terms and conditions as may be provided at the time of Provisional allotment/agreement for sale. Applicant herein consents to abide by those terms and conditions.
The maintenance, upkeep, repairs, security, landscaping and common services etc. of the said Project shall be managed by the Company or its nominated Facility Maintenance Company (FMC), and the applicant shall pay, as and when demanded, the maintenance charges including interest free security deposit for maintaining and up-keeping the said township Project and the various services therein, as may be determined by the Company or the such nominated maintenance company appointed for this purpose. Any delay in making payment will render Applicant liable to pay interest @18% per annum. Non-payment of any of the charges within the time specified shall also disentitle applicant from the enjoyment of the common areas facilities/amenities and services.
Applicant hereby agree to pay the maintenance charges along with applicable GST along with taxes, cesses etc. to the Campany/Maintenance Company from the date of commencement of maintenance services i.e. the date of offer of possession of the plot by the Company through Facility Maintenance Company in the said Project.
The plot shall not be partitioned or divided in any manner whatsoever by the Applicant herein in all times in future and furthermore any part/portions of the plot cannot be sold by the Applicant to any third party in future.
The plot cannot be sold by the applicant in future in part to any third party and undertakes to sale the entire plot as whole, as the case may be subject to payment of applicable charges to the company as mentioned herein before. Applicant herein accepts the same.
Samruddhisooru Farms and Estates India Pvt. Ltd at its sole discretion holds the right not to sell the Plot specified and described herein to the Applicants belonging to different families and/ or entities. Applicant herein accepts the same.
The Applicant also agrees and confirms that the Applicant shall be allotted the Plot only according to the layout plan and building plan to be prepared by the Company and/or its architect which is to be sanctioned by the DTCP Authority in due course of time for construction of dwelling unit on the said plot by the allottee.
All applicable taxes, levies, rents, stamp duty and registration charges and other applicable incidental expenses etc. would be borne by the Applicant.
Cancellation Terms: Deduction of (Booking amount + Applicable Taxes + Interest charges on delayed payment + Brokerage Paid)
Penalty Clause — Applicant hereby agree to this Penalty Clause on bouncing of cheque issued by applicant/s for payment instalments due against the sale value of the plot or maintenance charges, and/or any other charges /dues, with the reference to Section 138 Negotiable Instruments Act 1881 (and any revision thereafter).Bouncing of payment cheques against any dues, to be paid to Samruddhisooru Farms and Estates India Pvt. Ltd, at first instance Company will inform applicant for such incident reserving its right to issue a show cause notice and allow presentation of cheque to the banker immediately for release of payment without any charges. However, if any cheque bounced again, it shall invite penalty of Rs.500/- on account of bouncing of cheque including first instance with an interest @ 18% on additional delay from the date of instalments due shall be charged till the date it is paid to Samruddhisooru Farms and Estates India Pvt. Ltd.
The company shall have the first lien and charge on the said Plot for all its dues and other sums payable by the applicant to the Company, if applicable. Loans from financial institutions to finance the said Plot may be availed by Applicant. However, availability of Loan/approval of the Project by the Financial Institution is not the pre-requisite/condition precedent of the allotment of the said Plot and applicant hereby agrees to pay the sale value of the aforesaid Plot according to opted Payment Plan, irrespective of availability of finance from any Financial Institution. Further if any particular lnstitution/ Bank refuses to extend financial assistance on any ground, the applicant shall not make such refusal an excuse for non-payment of further instalments/ dues.
In case the Company is forced to abandon the said Project due to force majeure including the situation wherein non-issuance of the NOC/Approvals by any of the Competent Authority and or any other circumstances or for any reasons beyond its control, the Company shall refund the amount, without any interest and or compensation, paid by the applicant upon compliance of necessary formalities by the Applicant as may be laid down by the Company.
The Company shall endeavor to give possession of the Plot to the applicant as early as possible, subject to grace period stipulated in Annexure-A and subject to force majeure circumstance and reasons beyond the control of the Company with a reasonable extension of time for possession subject to compliance and execution of all documentation formality as maybe laid down by the company and making of timely payment of instalments to the Company by applicant.
Applicant further confirms that this application will be effective only after applicant accept, sign the provisional allotment letter and execute the Agreement for Sale on the standard format as may be provided by Company and/or Company's Advocates without which this application will not confer any rights on applicant. The allotment shall become final only upon applicant's fulfilment of all the conditions set out in the Agreement for Sale and upon making the full and final payment as per the opted Payment Schedule contained in this application form and agreement for sale.
Applicant further agrees to sign and execute necessary documents as and when required by Company.
Applicant hereby confirms and agrees that applicant shall be jointly and severally liable for due compliance and fulfilment of applicant obligations in respect of purchase of the said plot. Applicant further agree that time for making payment of total sale value and other amounts as and when demanded by Company shall be of essence. Applicant acknowledges that the Company has readily provided all the information and clarifications as were requisitioned by the applicant and that none of them have been influenced by any architect's plans, sales plans, sale brochures, advertisements, representations, warranties, statements or estimates of any nature whatsoever whether written and/or oral made on Company's behalf or on behalf of Company's selling agents or otherwise including, but not limited to, any representations relating to the description or physical condition of the Township Project, the size or dimensions of the subject plot/ Project including all their physical characteristics, the services to be provided thereto, the facilities and/or amenities to be made available thereto or any other data except as specifically represented in this Application, Presentation/Brochure and/or Application Form and that the applicant/s has/have relied solely on his/her/their/its own judgment and investigation in deciding to acquire the said Plot and not by any oral or written representations or statements.
Applicant confirms to have full knowledge of all the relevant laws, rules, regulations, notifications etc. applicable to such projects in general and/or to the township Project in particular and the terms and conditions contained in this application and that applicant have clearly understood the respective rights, duties, responsibilities, obligations under each and every clause of this application
Applicant shall furnish the complete address and e-mail ID registered with the Company at the time of booking and it shall be his responsibility to inform the Company through letter by Registered A.D. about all subsequent changes in his address and e-mail ID, 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 and he shall be responsible for any default in making payment and other consequences that might occur there from. Further, Applicant hereby agrees that the Company shall not be liable/ responsible to reply to any query received from any address / e-mail ID not being previously registered with the Company.
Company is authorized to make all correspondence with or to the applicant at the address for correspondence or the registered e-mail id in records initially indicated in this application form, unless changed. Any change of address shall have to be notified in writing to company's office and acknowledgement obtained for such change. Applicant agree that all communication shall be sent by company to the details of the person whose name appears in the "Contact for Correspondence" in the Application Form shall for all purposes be considered as served on the Allottees / both Allotees, in case of application made by Joint Applicants.
To settle any confusion regarding any matter herein or anything being not covered/ clarified herein, it is agreed by the applicant that reference shall be made to the detailed terms of the Allotment Letter/ Agreement for sale, the terms whereof have been seen, read and understood/accepted by the applicant.
It is specifically agreed by applicant that upon execution, if any ambiguity is apparent on its face, on such contingency the terms and condition of the Allotment Letter/Agreement for sale shall supersede over the terms and conditions as set forth in this Application Form. However, applicant shall be bound by the terms and conditions incorporated under this Application Form till the execution of the Allotment Letter/ Agreement for sale in this regard.
Applicant hereby confirm that the Joint Applicants belong to the same family.
Samruddhisooru Farms and Estates India Pvt. Ltd, without prejudice, reserves it's all other rights and interest at all point of time.
Applicant herein declares and undertakes to comply with all above referred clauses together with other terms and conditions, if any, as may be laid down, by SAMRUDDHISOORU FARMS AND ESTATES INDIA PVT. LTD. at its discretion from time to time.
All legal matters pertaining to this project subject to Bangalore Jurisdiction Only.