General Terms & Conditions:

Atlanta Housing Ltd is the exclusive developer and builder for Apartment building projects. As modern and luxurious apartment complex, consisting of self-contained apartments, reserved car parking, and other features etc described in details in this brochure of the project.  

APPLICATION:

Applications for allotment of apartments should be made on the prescribed application form duly signed by the applicant along with the Earnest Money. Atlanta Housing Ltd has the right to accept or reject any application without assigning any reason thereto. 

ACCEPTANCE:

On acceptance of an application, Atlanta Housing Ltd will issue an allotment letter with specific terms and conditions to the applicant. The applicant/allotted shall then start making payments as per the Schedule of Payment. Allotment of apartments is made on first come first served basis.

PAYMENTS:

All payments of earnest money, installments, additional works and other charges shall be made by Bank Draft or Pay Order or A/c Payee Cheque in favor of “Atlanta Housing Ltd” for which respective receipts will be issued. Bangladeshi residing abroad may remit payments 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.

Payments of installments, car parking costs and all other charges are to be made on due dates. Atlanta Housing Ltd may issue reminders to the allotted but, notwithstanding the issue of reminders, the allotted must adhere to the Schedule of Payment to ensure timely completion of construction.

PENALTY:

If the payment is delayed beyond 30 days Atlanta Housing Ltd shall have the right to cancel the allotment. In such an event the amount paid by the allottee will be refunded after deducting 20% of deposited money plus the Earnest Money.

UTILITY AND OTHER FEE:

Connection fees/charges, security deposits & other incidental expenses relating to gas, water, sewerage, and electric connections are not included in the price of apartments. These payments will be made by Atlanta Housing Ltd directly to the authorities concerned, on the allottee’s account. The allottee will be billed proportionately on actual costs basis.

The allottee will pay stamp duties, registration fee, documentation charges and any other taxes and expenses likely to be incurred in connection with the Deed of Agreement, Allotment, Registration, Transfer etc. Only the   actual sums shall be charged.

COMPANY’S RIGHT:

Limited changes in the specifications, design and/or layout of the apartments and other facilities may be made by Atlanta Housing Ltd in larger overall interest or due to unavoidable reasons.

Atlanta Housing Ltd may cancel an allotment on non-payment of installment in disregard of reminders and after final intimation to allottee by registered post at the address given in the application form.

The possession of each apartment shall be duly handed over to the allottee on completion and on full payment of installments and other charges and dues and till then the possession will rest with Atlanta Housing Ltd.

The Company shall not undertake the finishing works etc. unless & until the Purchaser pays at least 75 % (Seventy Five) of the purchase price of the demised flat.

STRUCTURAL CHANGE BY ALLOTTEE:

After taking over of apartment or the project, the allottee(s) must consult Atlanta Housing Ltd prior to undertaking any structural or layout changes within the apartment complex. Failure to do so will be   at the sole risk of the allottee(s). Any structural change or additional work to be performed by extra cost and it should be paid in advance to Atlanta Housing Ltd.

COMPLETION:

The Schedule of Implementation has been methodically prepared to ensure both high quality and smooth progress of work. Construction work to be completed as individual project scheduled. The completion period of the construction of the project can be affected by Acts of God, unavoidable circumstances beyond the control of Atlanta Housing Ltd like force majored, natural calamities, political disturbances, materials scarcity or price escalation, strikes and changes in the fiscal policy of the state etc.

REFUND:

If, for any reason beyond the control of Atlanta Housing Ltd the implementation of the project is abandoned, Atlanta Housing Ltd will refund to the allottee the Earnest Money and all installments deposited within 60 (sixty) days from the announcement made to this effect. In this eventuality, the allottee will not be entitled to any claims or damage whatsoever.

 MANAGEMENT:

The allottees, after full payment of dues, will elect from among themselves a Board of Management for managing the general affairs in the common interest. Each allottee must deposit a amount for each allotment of apartment towards the Reserve fund. The Allottee must undertake to become a member of the Owner’s Co-operative Society that will be formed by the owners of the spaces for the management of common services such as lift, pumps, security, compound, etc. Each allottee must initially deposit a specific amount in the Reserve Fund of the Association or Company for future maintaining management expenses of the complex.

TRANSFER OF OWNERSHIP:

Proportionate share of undivided and un-demarcated land will be registered in favor of each allottee.

TRANSFER COST:

All cost relating to transfer of ownership of the proportionate share of land will be borne by the allottee on actual basis.