In terms of the proposals made by the Developer, it has formulated the Scheme called ‘The Club Town Enclave Development, Construction, Sale and Transfer of Residential Housing Complex Scheme’, - in short, ‘The Scheme’ and based on the sanctioned building plans, the Developer has proposed to construct residential apartments in divers sizes having standard specifications for all and additional and special specifications at extra costs. Copy of The Scheme is included herein at Appendix VIII.
The
buyer upon consideration of The Scheme and the brochure relating to the lay
out design and other features of apartments, may apply to the Developer for
allotment of an apartment in the form of application, model form of which is
included herein at Appendix I.
Upon
consideration of the application for allotment so made, the Developer may at
its discretion make allotment of the applied apartment or of an apartment of
the like size subject to availability which shall be made by a Letter of
Allotment, model form of which is included
herein at Appendix II. An
application for allotment when made by the intending buyer shall mean that
the buyer has fully understood the terms and conditions applicable thereto
which are or may be contained in The Scheme and the details provided by the
Developer and the buyer has unequivocally agreed to abide thereby.
Subject
to the buyer making payment of the earnest money and/or the application
money in accordance with the letter of allotment, the formal agreement for
sale to be executed by the Developer with the intending buyer shall be
issued by the Corporate Office of the Developer and the same shall
constitute a contract between the parties for intended sale of the agreed
apartment.
Upon
completion of construction and making the apartment ready for delivery, the
Developer would put the buyer in possession thereof subject to compliance of
the terms of the agreement.
The
buyer shall obtain title to the property in the apartment with the execution
and registration of deed of conveyance.
In
accordance with the provisions of the Indian Stamp Act, as applicable to the
State of West Bengal, an agreement for sale for immovable property attracts
stamp duty which is payable on the deed of
conveyance and which would not be
chargeable at the time of execution and registration of the deed of
conveyance but does not attract a compulsory registration.
The
present rate of stamp duty payable at or before execution of the deed of
conveyance for effecting transfer of the right title and interest in the
apartment is chargeable at the rate of eight percent ad-valorem as
applicable in the State of West Bengal and to the relevant area on the
market value of the property to be assessed by the registering authority
after presentation of document for
registration. Apart from the basic stamp
duty, registration fees and other incidental and/or miscellaneous expenses
are also to be paid at the rate of two percent ad-valorem on the market
value of the property so assessed by the registering authority. The
professional fees payable to the advocates is fixed at one percent of the
total market value.
After
completion of sale of apartment in favour of the purchaser in the above
mentioned manner and upon getting delivery of the original registered deed
from the office of the registering authority, the buyer is required to apply
for mutation of his name in the records of the Rajarhat Gopal Municipality
whereupon the name of the buyer is entered in the municipal assessment
records of the said municipality as the owner of the property in question
and separate assessment for payment of the rates and taxes (property tax)
under the municipal law is made by the municipal authorities.
Though
the title to the property passes from the vendors / developer unto the
purchaser only by and under the registered deed of conveyance yet municipal
records upon such mutation are the independent statutory records which
reveal and corroborate proof of ownership.
Copy
of the model agreement for sale is included herein at Appendix III.
Copy
of the model deed of conveyance sale is included herein at Appendix IV.