27/02/2020
Project name: Simplex Ixora.
Location: @ 253/58,Road #4/A,Cantonment,Dhaka
Simplex Development Lt.
Terms & Condition
01. Applications for allotment of apartment has to be made in prescribed form along with required earnest
money. The Developer reserves the right to accept or reject any application.
02. The Developer reserves the right to make changes / modifications of the plan and Specification,
which might be necessary for the betterment of the project.
03. On acceptance of the application, allotment letter will be issued to the applicant on receipt of which
he / she shall start making payments as per schedule of payment. The buyer must strictly adhere to the
payment schedule. Any delay in payment beyond the due date will make the buyer liable to pay
delay charge @ 3% per month on default payment. If the payment is delayed beyond (45) Forty
Five days then the Developer shall have the right to cancel the allotment. In such an event the
amount paid by the buyer will be refunded after deducting the earnest money.
04. Payment should be made either by Bank Draft or Pay Order Payable to Simplex Development Ltd.
Payments will be considered as received when the sum is actually credited in the Company’s account.
05. Actual charges for utility connections like: electricity, gas,(H.T. Connection , X- former connection , cable etc )
solar panel, water and sewerage are not included in the price of the apartment and the utility charge
to be borne separately by the buyers.
06. The buyers shall bear all costs ( tax, vat etc) relating to transfer / Sale Permission and registration of the property.
07. Until full payments of all installments are not made, possession and title of the apartment shall rest
with the Developer and the buyer shall not have the right to transfer the allotment to a third party.
08. The buyer must under take to become a member of the flat owner’s Co-operative Society / Association
which will be formed by the buyers of the apartments and land lord for the management of the
common services such as lift, stand by generator, security, maintenance etc. Each Flat owner shall
deposit TK. 25,000/= for the reserve fund of the Society / Association before taking possession of the
apartment.
09. The completion period of project can be affected by unavoidable circumstances
beyond the control of the Developer like Force Majeure, War, Natural Calamity, Political Disturbances,
Civil Commotions, Strikes, Go-blow tactics of the labor and changes in the fiscal policies of the state.
If for any reason beyond the control of the Developer including acts of God or economic depression
the project may be abandoned, the Developer will refund the buyers the earnest money and all
installments deposited within ninety days from the announcement made to this effect. In this
eventuality, the buyer will not be entitled to any claims of damage what so ever.
