ECOVILLAGE HOUSING LTD is the exclusive developer and builder for planning, implementing and allotment of all facilities of “Ecovillage Apartments” a modern apartment complex, consisting of self contained apartments, reserved car parking (first come first basis), other features etc described in details in this brochure on “Ecovillage Apartments”
Application for allotment of apartments should be made on the prescribed application form duly signed by the Applicant along with the Earnest money. ECOVILLAGE HOUSING LTD has the right to accept or reject any application without assigning any reason there to.
On acceptance of an application, ECOVILLAGE HOUSING LTD will issue an allotment letter with specific terms and condition to the applicant. Ecovillage Housing Ltd and the Allottee will be required to execute an Agreement as per the Company’s prescribed format. The Applicant/ Allottee Shall then start making payments as per the Schedule of payment. Allotments of Apartments are made on first come first served basis. Applicants /Allottee willing to make one time payment will be rewarded with substantial rebate. The Allottee/ Applicant is not entitled to transfer the apartment to third party till the Apartment handed over to them.
All payments of earnest money, Installment, Additional works and other charges shall be made by bank draft or Pay order in favor of “Ecovillage Housing Ltd for which respective receipts will be issued. Bangladeshis residing abroad may remit payments by TT or DD.
Payments of installment, car park costs and all other charges are to be made on due dates. Ecovillage Housing Ltd may issue reminder to the Allottee but, not withstanding the issue of reminders, the Allottee must adhere to the schedule of the allotment. This must be mentioned here that timely completion of the project is entirely depended upon the timely payment of Applicant(s)/ Allottee.
Delay in payments beyond the due date will make the Allottee liable to pay a delay charge of 0.1% per day on the amount of payment delayed. If the payment is delayed beyond 45 days Ecovillage Housing Ltd shall have the right to cancel the allotment. In such an event the amount paid by the Allottee will be refunded after deducting the Earnest money and realizing the refund amount from the new investor.
Connection fees/ Charges, security deposits & others incidental expenses relating to Gas, water sewerage and electric connections are not including in the price of apartments. These payments will be made by Ecovillage Housing Ltd directly to the authorities concerned, on the Allottee’s account. The Allottee will be billed proportionately on actual costs basis.
Limited changes in the specifications design and/ or Layout of the apartments and other facilities may be made by Ecovillage Housing Ltd in larger overall interest or due to unavoidable reasons.
Ecovillage Housing Ltd. may cancel an allotment on non payment of installment in disregard of reminders and after final intimation to Allottee by Registered post at the address given in the application form.
The possession of each apartment shall be handed over to the Allottee on completion and on full payment of installments and other charges and dues and till then the possession will rest with Ecovillage Housing Ltd.
The Allottee will pay VAT, Stamp duties, Registration fee, documentation charges and any other taxes and expenses likely to be incurred in connection with the Deed of Agreement, Allotment, Registration and transfer etc. The actual cost incurred shall be charged.
After taking over of apartment or the project, the Allottee(s) must consult Ecovillage Housing Ltd prior to undertaking any structural or layout changes within the apartment complex. Failure to do so will be at the sole risk of the Allottee(s).
The schedule of implementation has been prepared keeping in view both quality and smooth progress of work. Construction is scheduled to be completed within 24 months from this day of construction commencement.
The completion period of the construction of the project can be affected by unavoidable circumstances beyond the control of Ecovillage Housing Ltd like force majored, natural calamities, political disturbances, materials scarcity or price escalation, strikes and charges in the fiscal policy of the state etc.
If for any reason beyond the control of Ecovillage Housing Ltd the implementation “Ecovillage Apartments” is abandoned Ecovillage Housing Ltd will refund to the Allottee the Earnest money and all installment deposited within 180 days from the announcement made to this effect. In this eventually, the Allottee will not be entitled to any claims or damage whatsoever.
The Allottees after full payment of dues will elect from among themselves a Board of Management for managing the general affairs in the common interest. Each Allottee of A, B, & C type must deposit minimum Tk 25,000 or any suitable amount determined by Company for each Allotment of Apartment towards the reserve Fund for initial common service expenses of the Complex which rest amount will be handed over to association later on. |
