Terms & Conditions

Allotment

Allotment shall be made on ‘First come first serve’ basis on receiving the bookings as per application.

Allotment Preference

Buyers willing to make one-time payment will be given preference and 5% discount except on the booking money & cost of parking space.

Allotment Transfer

Until the full payments of the installment, the buyer shall not have the right to transfer the allotment to a third party without the consent of the company.

Payments

All payments are to be made by cross-checked cheque/Bank drafts/Pay order etc. in favor of PEACE INNOVATIVE REAL ESTATE LTD. The buyer must strictly adhere to the schedule of payment to ensure the timely completion of the construction work. Any delay in payment up to two installments will make the buyer liable to pay 5% interest per month on the payable amount. If the payment is delayed beyond three installments, the company shall have the right to cancel the allotment. In such an event, the amount paid by the buyer will be refunded after deducting Tk. 1,00,000/- (One Lac) only.

Incidental Costs

Utility connection fees, material cost, and other incidental charges and costs relating to Gas, Water, Sewerage, Power Connection, etc. are not included in the price of the apartment. The buyers shall make those payments to the authorities concerned. Expenditure on these accounts may be initially paid by the company. Owners of the apartments shall reimburse the amount before taking possession of the apartment.

Registration Costs

The buyer shall bear all costs related to the cost of stamps, registration fees, VAT, relating legal fees, etc. The company will make necessary arrangements for all such formalities.

Canceling of Booking

In case of any cancellation of bookings of any apartment by a client, the amount deposited to the company will be refunded after selling the apartment to a new buyer and Tk. 1,00,000/- (One Lac) only will be deducted from the booking money as incidental charges.

Hand over of possession

The possession of apartment and the parking space will be handed over after receiving all payments and after completing of all works as per time schedule of the Company.

Company's Right

The company reserves the right to accept or reject any application for an allotment of the apartment. The company may make minor changes in the Design and Specification of the project should those become necessary. The company reserves the right to make minor modifications in the floor plan and specification of the flats for the interest of the project. For any modification made by the client, the price of the apartment will be increased by 5%

Time of Completion

The time of completion of projects will be based upon the agreement of both the Company & Landowner. The times are not fixed and are extendable. If it becomes necessary on account of almighty Allah, natural calamity, strikes, civil commotion, or any other reasons beyond the control of the company.

Owner's Welfare Society

The buyers must become a member of the Owner’s Welfare Society which will be formed by the buyers of the apartments and should be duly registered for the management of the common services such as lift, generator, and the annual maintenance of the building. Each buyer of the apartment shall deposit Tk. 10,000/- (Ten Thousand) only for annual common service expenditure. The monthly utility service expenditure will be applicable by the owners as per requirement, which will be decided by the Company until the formation of the Owner’s Welfare Society.

Together, Let's Build The Place You Deserve

For any kinds of information, feel free to visit us at our office or call us.
Contact information is available at – Contact – PEACE INNOVATIVE REAL ESTATE LTD.