:: ORIENTAL :: Real Estate Limited

Terms & Conditions

The intending purchaser is to submit application in the prescribed form available on free of cost from the office of the company along with booking money/down payment of minimum 30% (thirty percent) of the total flat value.
The flat will be allotted on first come first serve basis.
On receipt of application with booking money/down payment an allotment letter will be issued to the allottee.
Booking money/down payment and other payment including additional works etc. are to be paid to the company in the form of cash/bank draft/pay order against receipt to be issued by the company.
After allotment of the flat and on receipt of booking money/down payment, a deed of agreement will be made containing schedule of payment of total flat value, period of construction, amenities to be provided to the flat owners etc.
On payment of entire dues pertaining to the flat/flats, the Oriental Real Estate Limited makes no delay to transfer the ownership of flat / flats by registered deed of sale.
Bangladeshi citizens living abroad can pay the flat value by cash/T.T./bank draft in foreign currency. The foreign currency will be converted to local currency on the basis of exchange rate, which will prevail then.
For transfer of apartment in time the Flat owners are to pay their instalments as per schedule given in the deed of agreement.
After payment of booking money/down payment and on receipt of allotment letter if for any reason the allottee refuses to buy the flat and want refund of deposited money then the allottee is to submit written application within 30 (thirty) days from the date of booking. In that case the entire deposit will be refunded. If the application is submitted after 30 (thirty) days from the date of booking of the flat then the deposit will be refunded after deduction of 20% (twenty percent from the total deposited amount.
If any applicant pays the entire flat value at a time on running Projects then 10% (ten percent) concession may be allowed to him/her on the total flat value.
Connection fee like electricity, gas, water, sewerage etc. and the connection charges thereof are not included in the flat value.
For the interest of the purchasers and on unavoidable reasons the Oriental Real Estate Limited may bring minor internal changes if required.
Those who do not pay instalment as per schedule, their allotments can be cancelled after sending registered notice by post allowing 15 (fifteen) days time therein to pay the instalment.
Subject to payment of flat value and other related expenses, Oriental Real Estate Limited will hand over possession of flat as per deed of agreement.
Land registration fee, stamp duty for transfer of ownership, VAT on Govt. rate, additional charges of documents in this connection will be borne by the purchasers.
After taking over possession of the flats, if any allottee/owner/purchaser want to bring changes in the structure or layout plan, they must consult the same with Oriental Real Estate Limited. Else they themselves will remain responsible for any such changes and its consequential affect.
Construction work may be delayed on account of natural calamities, political unrest, strike, hartal and other causes beyond the control of the Company.
If the project is cancelled for the reason beyond the control of Oriental Real Estate Limited then the company will refund the total deposit within 60 (sixty) days from the date of cancellation of the Project. Under the circumstance the purchasers cannot claim any compensation from the company for cancellation.
After transfer of the apartment, a co-operative society with all the flat owners as member will be formed for proper management & maintenance. To meet expenses on this account, the flat owners will create a common service fund and each member will initially pay Tk. 25,000/- (Taka twenty five thousand) to the above fund. This fund is to be deposited with the developer who will extend all possible co-operations’ towards formation of the society and will remain convener of the ad-hoc committee till the society is formed and takes over the responsibility. The above amount of Tk. 25,000/- (Taka twenty five thousand) is not included in the flat value.
The Company shall not undertake the finishing works etc. unless & untill the Purchaser pays at least 75 % (Seventy Five) of the purchase price of the demised flat.