Terms & Conditions

1. General Terms

These Terms and Conditions ("T&C") govern the purchase, sale, and ownership of real estate properties developed and marketed by Megaaplex. By entering into any agreement with us, you acknowledge that you have read, understood, and agree to be bound by these terms.

2. Property Development and Construction

2.1 Development Standards

• All properties are developed in accordance with approved plans and specifications
• Construction follows applicable building codes and safety standards
• RERA registration and compliance for all applicable projects
• Environmental clearances and statutory approvals as required

2.2 Quality Assurance

• Use of quality materials and construction practices
• Regular quality inspections during construction
• Compliance with structural and safety requirements
• Warranty coverage for construction defects

3. Booking and Registration Process

3.1 Eligibility Criteria

• Buyers must be of legal age (18 years or above)
• Valid identity and address proof required
• Income verification for loan-based purchases
• Compliance with Foreign Exchange Management Act (FEMA) for NRI buyers

3.2 Documentation Requirements

• Completed application form with accurate information
• Identity proof (Aadhaar, PAN, Passport)
• Address proof and income documents
• Photographs and signatures as required
• Additional documents as specified for each project

4. Pricing and Payment Terms

4.1 Pricing Structure

• Base price as per the rate card at the time of booking
• Additional charges for premium floors, corners, or special features
• Parking charges (if applicable)
• Club membership and amenity charges
• Statutory charges including registration, stamp duty, and taxes

4.2 Payment Schedule

• Booking amount: Payable at the time of booking
• Down payment: As per the agreed payment plan
• Construction-linked payments: Based on project milestones
• Final payment: Before possession handover
• Maintenance deposit: As specified in the agreement

5. Possession and Handover

5.1 Possession Timeline

Possession will be offered within the timeline specified in the agreement, subject to:

• Completion of construction and receipt of occupancy certificate
• Clearance of all dues by the buyer
• Completion of registration formalities
• Availability of essential services (water, electricity, etc.)

5.2 Handover Process

• Pre-delivery inspection with the buyer
• Rectification of any defects identified
• Handover of keys and possession documents
• Warranty documentation and user manuals

6. Amenities and Common Areas

6.1 Amenity Usage

• Amenities are for the exclusive use of residents and their guests
• Usage subject to rules and regulations established by the management
• Maintenance and operational costs shared among residents
• Booking requirements for certain facilities

6.2 Common Area Maintenance

• Monthly maintenance charges as determined by the association
• Charges for utilities, security, and upkeep
• Special assessments for major repairs or improvements
• Penalty for non-payment of maintenance charges

7. Transfer and Resale

7.1 Transfer Rights

• Properties can be transferred after completion of registration
• Prior written consent required for transfers before possession
• Transfer charges and documentation as per prevailing rates
• Compliance with legal requirements for property transfer

7.2 Resale Conditions

• Right of first refusal may apply in certain projects
• Clearance of all outstanding dues before transfer
• Compliance with society/association bylaws
• Transfer fee and administrative charges applicable

8. Warranty and Maintenance

8.1 Structural Warranty

• 5-year warranty on structural components
• 1-year warranty on electrical and plumbing fittings
• Manufacturer's warranty on branded appliances and fixtures
• Defect liability period as per industry standards

8.2 Maintenance Responsibilities

• Individual unit maintenance by the owner
• Common area maintenance by the association
• Compliance with building maintenance guidelines
• Regular upkeep and preventive maintenance

9. Legal Compliance and Approvals

9.1 Regulatory Compliance

• RERA registration and compliance for applicable projects
• Environmental clearances and NOCs
• Building plan approvals from local authorities
• Fire safety and other statutory clearances

9.2 Title and Ownership

• Clear and marketable title to the property
• Registration of sale deed in buyer's name
• Issuance of occupancy certificate
• Formation of housing society or apartment owners association

10. Cancellation and Refund

10.1 Buyer-Initiated Cancellation

• Cancellation charges as per the agreement terms
• Refund processing within specified timeframe
• Deduction of administrative and marketing costs
• Interest on delayed refunds as per RERA guidelines

10.2 Developer-Initiated Cancellation

• Full refund with interest in case of project cancellation
• Alternative unit offering in other projects
• Compensation for any losses incurred
• Compliance with RERA provisions for project cancellation

11. Dispute Resolution

Any disputes arising from these terms shall be resolved through:

• Initial attempt at amicable settlement
• Mediation through RERA authorities (if applicable)
• Arbitration as per the Arbitration and Conciliation Act, 2015
• Courts in Mumbai, Maharashtra (as the last resort)

12. Contact Information

For any queries regarding these Terms & Conditions:

13. Governing Law

These Terms & Conditions are governed by:

• The Real Estate (Regulation and Development) Act, 2016
• The Indian Contract Act, 1872
• The Transfer of Property Act, 1882
• Other applicable laws of India