Terms & Conditions
1. Plot is offered for residential purpose only. The anticipated period of completion and delivery of physical possession is 36-months from the date of booking subject to timely payment of installments by the allottees.
2. Applicant has to pay balance down payment as per payment plan within the specified time period, announced by GardenCity. Failing to pay Balance down payment within the given time period by GardenCity shall result in forfeiting the paid token money.
3. Confirmation of Booking is subject to security clearance by Garden City management.
4. All installments must be credited to Garden City Account in Pak Rupee (PKR) strictly in accordance with the payment schedule. Installment(s) received after the due date will only be accepted along with surcharge @ 1.4% per month (which will be taken as @ 0.046% daily).
5. Booking/Allotment of the Plot will be cancelled upon failure to pay three consecutive installments. No prior notice shall be served to any applicant/allottee by the management of Garden City Executive Block Karachi for cancellation of Booking/Allotment, and the amount deposited by him/her shall be refunded subject to availability of intending purchaser of his/her unit after deduction of 25% of the paid amount on account of Establishment, Service & Management Charges. No applicant shall be entitled to claim or receive any interest/markup against the amounts paid by him/her to Garden City. This clause shall also be applicable to the Applicants/Allottees who withdraw voluntarily.
6. After down payment in terms of the schedule announced by Garden City, if the applicant fails to pay the first installment within four (04) months from the date it has become due, the booking of the Plot will be cancelled immediately without notice and the paid amount will be forfeited.
7. Price of the Plot does not include Lease, Documentation, Legal & Ancillary charges, Federal & Provincial Taxes/Duties, Outer Development Charges, Escalation, Utilities System Development Charges i.e. Electricity, Water & Gas and their connection charges. Such expenses shall be paid by the applicant/allottee immediately on demand.
8. The areas of Plot are approximate on the basis of architectural designs and total price of the plot will be on the basis of actual covered area (including circulation areas) of the Plot, which will be finalized at the time of handing over of physical possession. 5% of the total cost of the Plot as Corner Charges, 5% of the total cost of the plot as West open charges, 5% of the total cost as park facing charges and 5% of the total cost of the plot as main boulevard charges will be charged extra, payable immediately after allocation of Plot.
9. Applicant/Allottee shall not transfer or sell his/her rights of the booked Plot to anyone without prior permission of Garden City and subject to clearance of all due & payable amounts including surcharges and transfer fee against the booked Plot, as demanded by Garden City.
10. Garden City reserves the rights to make necessary modification in the development and building plans of the project for adverse technical reasons at any time without notification to the allottee/purchaser.
11. Due to unavoidable circumstances like force majeure, natural calamities, civil commotion, strikes, go-slow by the labor or change in the Government fiscal policies, Garden City shall be entitled to revise the handing over date of project and the prices.
12. Allottee shall be responsible to accept and take over physical possession of the booked Plot within one month of issuance of "Completion Notice". In the event of his/her failure to take over the physical possession within prescribed period, he/she shall be liable to pay the caretaking/maintenance charges etc. as prescribed by Garden City at the relevant time.
13. Physical possession of the Plot shall be retained by GardenCity till all the dues are paid by the allottee/lessee. In case of the allottee/lessee fails to take over physical possession of the booked Plot despite Issuance of the completion notice, GardenCity, apart from other remedies, shall also be entitled to recover its dues through due process of law, which includes attachment and sale of such Plot.
14. No further construction or modification to any construction is allowed without prior written approval of Garden City.
15. Lease Execution:
a. The lease/sub-lease of the Plot shall be executed through Garden City in favor of the allottee/purchaser only after receiving full and final payment of the total price of the House inclusive of all outstanding amount and other charges as specified under clause 7 & 8 etc. above. The allottee/purchaser will extend full cooperation in connection with the execution of the lease/sub-lease by providing relevant documents to complete the lease/sub-lease formalities.
b. The allottee undertakes to appear personally or make his/her nominee appear at the Project Office and Office of the Sub-registrar, as and when required for signing and completion of lease and other formalities etc.
16. All Serial Numbers and/or other identification numbers and marking given in the plans, booking and/or allocation letter pertaining to Plot are ad-hoc, temporary & tentative. Garden City reserves the right to amend/change/renumber the same, if deem necessary by Garden City.
17. All correspondence to the allottee/lessee shall be mailed on the address mentioned in the application form. Garden City shall not be responsible for non-delivery of the letters.
18. The discount, if any, formally announced by Garden City, will be available to the relevant applicant subject to the regular payment of the dues/Installments.
19. Garden City reserves the right to accept/reject any/all applications without assigning any reason thereon.
