Terms and Conditions

i.Application:This Application constitutes an offer by the Applicant/s to acquire an Apartment unit as mentioned in the Application and is not a concluded contract. The Application does not confer or constitute any right in favour of the Applicant/s for allotment. The Promoter reserves the right to accept or reject this Application at its sole discretion and without assigning any reason for the same. This Application and the terms thereof shall supersede all prior discussions and correspondence (written or otherwise) between the Applicant/s and the Promoter. The Application shall accompany a self-attested proof of address and PAN card copy. If the Application is in joint names, both the Applicants need to sign the Application form

NRI/Foreign National with Indian/Foreign Company: In the case of being an NRI/foreign national with an Indian/foreign company, the Applicant/s shall be solely responsible for complying with the necessary formalities as laid down in the Foreign Exchange Management Act (FEMA), Reserve Bank of India (RBI) Act and rules/guidelines made/issued there under and all other applicable laws including that of remittance of payments, acquisition/sale, transfer of immovable properties in India. In case any such permission is refused or subsequently found lacking by any Statutory Authority, the same shall constitute a breach of the terms hereof.

Earnest Money Deposit (EMD): i. The Applicant/s has deposited an amount of Rs. /- along with this Booking Application as Earnest Money Deposit (“EMD”). On the application being accepted and the Promoter allotting the Apartment to the Applicant/s, this amount shall be part of the Booking Amount. In the event of the Promoter rejecting the application/not accepting this offer of the Applicant/s, the entire amount of EMD would be refunded within 45 working days of such rejection without any interest.

ii. The Applicant/s has been informed and is fully aware that before execution of the Agreement for Sale 10% of the total sale consideration (exclusive of deposits/additional charges) of the Apartment shall be paid as the Booking Amount within 15 days from the date of payment of EMD, failing which the Applicant/s shall be liable to pay an interest of SBLR+2% on the delayed payment. During such instances, it would be at the discretion of the Promoter to accept the payment with interest and proceed with the sale proceedings or to cancel the booking and refund the EMD within 45 working days of such rejection without any interest.

iii. In the event of Promoter intimating the acceptance of the application and calling upon the Applicant/s to execute an agreement for sale for the Apartment applied for and the Applicant/s failing to come forward to execute the agreement for sale within 15 days of such intimation, the Promoter at their discretion would be entitled to terminate this Application and on such termination the Promoter shall refund the amounts within 45 working days after deducting an amount as processing fee as per the “Terms and Conditions of Cancellation” as set out hereinunder.

iv. Cancellation Policy with the applicable cancellation charges and refund of balance amounts for other scenarios of cancellation of the booking are fully described in the “Terms and Conditions of Cancellation” below.

  • All payments should be made by way of account payee cheques/demand draft in favour of Lucina Land Development Limited.
  • The Applicant/s is aware that in the event of any of the EMD cheques not being honoured/cleared, the Application for allotment shall be invalid/ be deemed to have been rejected.
  • All refunds will be made without interest by local cheques only, within 45 working days from the date of cancellation. The cheque for the earnest amount deposit will be posted to the address provided by the Applicant/s or in case of multiple applicants, the cheque shall be issued in favour of the first applicant and will be posted to the address declared by the first applicant alone.
  • It shall be the condition of the Booking Application/allotment that the use of the Apartment shall be for residential use only and shall not be altered.
  • This Booking Application for allotment of an Apartment is not transferable to any other third party, but transfer to family members (father/mother/wife/husband/son/daughter) would be allowed with prior approval of the Promoter. Post execution of the Agreement for Sale, transfer to any third party would be allowed only upon obtaining prior approval from the Promoter and upon payment of transfer fees as per the terms of the Agreement for Sale.
  • The Applicant/s understands that the Earnest Money Deposit is an interest free refundable earnest amount paid to the Promoter (subject to applicable cancellation charges in case of cancellation of the Application/allotment) and constitutes an expression of interest of the Applicant/s in purchasing a Apartment in the project “Embassy East Avenue” and in no manner to be considered as an assurances having been given by the Promoter for the sale of the Apartment.
  • The Promoter reserves the right to change the pricing offered to other customers, at its sole discretion without prior notice. The Applicant/s will not question the sale price of any other Applicant/s nor will the Applicant/s be entitled to compare the same with other Applicant/s.
  • Loan from financial institution to finance the said Apartment may be availed by the Applicant/s. However, if a particular institution/bank refuses to extend financial assistance on any ground, the Applicant/s shall not make such refusal an excuse for non-payment of further dues.
  • The Applicant/s agrees that in accordance to the Income Tax Act 194IA the Applicant/s shall deduct 1% /applicable TDS of the total consideration and remit in favour of the Promoter for all the installments to be paid by the Applicant/s under the Agreement for Sale. The Promoter shall not be held responsible for any non-payment/delay in remittance of TDS by the Applicant/s.
  • The Applicant/s is also fully aware that the development of the Project is being done in phase-wise manner.
  • The total consideration is exclusive of stamp duty, cess and registration expenses, etc.
  • Increase in existing tax levies and fresh government levies, applicable during the contract period shall be met by the Applicant/s.
  • The Applicant/s further agrees that only after the Applicant/s executing Agreement for Sale and agreeing to abide by the terms and conditions laid down therein there would be a concluded contract.
  • The courts in Mumbai shall have sole jurisdiction in all matters with respect to this voucher.