a. Payment Plan:
On Booking - 10% of BSP +EDC
Within 30 days - 90% of BSP +EDC
On Possession or 24 Months
Whichever is later - Power back-up charges + IFMSD
b. Special Price:
For 200, 300, 500, 1000, 2000 sq.yds. - 20% discount on BSP. Revised BSP - 16600/- per sq.yd. Other charges (incl. Power back-up, EDC, IFMS) shall be as mentioned above.
Upon receipt of the stipulated payment within 30 days, the developer shall execute a Plot Buyer’s Agreement which shall contain ‘The Assured Appreciation Option’.
c. Assured Appreciation Option-
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1
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Plots Sizes
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200, 300, 500, 1000, 2000
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Sq.yds
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2
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Financial Terms at CLP
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2a
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Current BSP
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Rs
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20750
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Per Sq.yds
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Construction Linked Installments
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2b
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Power Back-up Charges
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Rs
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1000
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Per Sq.yds
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Payable at Possession
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2c
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EDC \ IDC
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Rs
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1000
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Per Sq.yds
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Construction Linked Installments
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2d
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Maintenance Deposit
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Rs
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350
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Per Sq.yds
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Payable at Possession
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3
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Financial Terms at 'Assured Capital Appreciation Scheme'
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3a
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BSP - Discount @ 20%
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Rs
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16600
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Per Sq.yds
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10% at Booking Balance Payable in 45 Days
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3b
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Power Back-up Charges
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Rs
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1000
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Per Sq.yds
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Payable at Possession
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3c
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EDC \ IDC
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Rs
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1000
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Per Sq.yds
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10% at Booking Balance Payable in 45 Days
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3d
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Maintenance Deposit
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Rs
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350
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Per Sq.yds
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Payable at Possession
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4
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Surrender Option after 24 months of completing payment under 3a + 3b
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Rs
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24640
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Per Sq.yds
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BSP + EDC @ 40% appreciation
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At the end of 24 months (after payment of BSP and EDC), the investor / buyer shall have the option to surrender the plots back to Ireo in lieu of which Ireo shall pay a consideration @ Rs. 24640/- per sq.yd.. This means an appreciation of 40% over the consideration paid by the investor/buyer in 24 months.
d. Exercise of Option by Investor/ Buyer-
1. Surrender Option with Appreciation- At the end of 23 months, whereupon Ireo will complete the payment at the end of 24 months.
2. Option to Retain the Plot- At the end of 23 months. In the event that the investor/ buyer thinks that it is advantageous to retain the plots, he may do so by choosing such an option at the end of 23 months.
e. The proposed Modus Operandi shall be as follows:
A. At Booking : Payment of 10% of Discounted BSP + 10% of EDC @ RS 1000 Per Sq.yds
: Ireo to bank the cheque and issue a ‘Receipt’ Cum ‘Priority No.’
: Execution of our standard Application Form
B. After 30 Days : Payment of 90% of Discounted BSP + 90% of EDC @ RS 1000 Per Sq.yds
: Allotment of Specific Plot No
: Execution of Plot Buyer’s Agreement containing “Surrender Option Clause”
C. After 24 Months : Plot Buyer may exercise the option to either
(a) “Retain” the plot and thus forego the ‘Surrender Option’
(b) “Surrender” the Plot and ask for refund plus appreciation @ 20% simple interest on amount paid.
Upon receipt of ‘Surrender Option’ Ireo shall pay the above-mentioned amount within a period of 90 days. The appreciation shall be calculated @ 20% simple interest for the duration of investment i.e from the date of completing 100% payment till the date of issue of refund cheque.
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