TERMS & CONDITIONS

1. Name And Location Of The Public Sale Project

The name of the public sale project is “Ocean Marina Gwadar” GDA approved NOC number is 20/05/HS/GDA which will develop in Gwadar, wherever the term “Management of Project” is used means “Management of the project of the Ocean Marina Gwadar i.e. Ocean Associates”.

2. Booking

The Plot is being offered for sale on the ownership basis and the same shall be booked on ‘first come—first served’ basis.

3. Terms Of Offer For Sale

The plot is being offered for sale on cash/instalment basis. The Management of Project reserves the right to accept or reject any application before the allocation of the plot/unit or transfer of allotment of any buyer without assigning any reason whatsoever.

4. Confirmation Of The Allocation

The Management of Project through an allotment letter to the allottees shall confirm the allocation of the unit within 15 days of booking. The allotment letter shall specify the unit number, area of unit, and the total price of unit.

5. Instalment Payments

As per clause no. 5 – 1.10 of Gwadar Development Authority Act, the payment of instalments shall be made by the allottees before the 10th of each concerned month on the name of “Ocean Marina Gwadar” in the form of Cheque/Pay Order/Bank Draft and Direct Deposit strictly according to the agreed Schedule of Payment attached to the agreement. In case of failure of two consecutive payments, a 15 days notice shall be issued by the registered A/D or registered courier services on the last given address and if the allottees fails to make payment within the above period, another notice shall be issued by the Developer extending the period up to another 30 days. In case of further failure, a cancellation letter shall be issued to the allottees. Amount paid till date will be reimbursed after deduction of 20% of the amount within 30 days after the resale of the plot by the Management of Project(s).

6. Surcharge

The Applicant here by consents that any instalment received after due date i.e. 10th of each concern month will only be accepted with a Surcharge of RS.500/-per day.

7. Excess land

All plot sizes/areas are approximate, however at that time of possession handing over accurate measurements will be executed and the Applicant undertakes to pay/allow adjustment for the increase/decrease of the area at the rate of the actual booking price of the plot.

8. Documentation and connection & Meter Charges

As per clause no. 5 – 1.13 of Gwadar Development Authority Act 2003, documentation charges for sub-lease, external services connection charges for gas, electricity, sewerage and water with any miscellaneous charges shall be paid in proportion to the unit area in accordance with the actual payment made to these agencies plus 15% as service charges for their respective services. This amount should be paid at the time of deposit of challan. In case any allottee fails to make this payment shall pay mark up on the amount at the prevailing Bank Rate. The Applicant shall extend full co-operation by timely payment to the Management of Project to enable them to complete the formalities.

9. Address for Correspondence and Notice

Notices and correspondence shall be posted to registered post at the last given address of the applicant, as per record of the Management of Project. Personal landline number and Mobile numbers are compulsory required, with additional two alternate references and their contacts for communication. However, the Management of Project shall not be responsible for non-delivery of notices, letters, non-contacts, etc. due to change in address not Notified by the Applicant or any other reason(s) whatsoever.

10. Registration

Registration of the plot shall be executed in favour of applicant after full payment of the outstanding amount as well as cost of land, development, documentation, utilities and other misc. expenses etc. as specified to the Applicant time to time. Applicant shall extend full cooperation to the Management of Project in connection with the execution of the registration.

11. Surrender of Allotment

As per clause no. 5 – 1.17 of Gwadar Development Authority Act 2003, the allottee if he/she so wishes can withdraw his/her allotment of the unit by surrendering the original letter of allocation/allotment to the company. In this event, the Developer will refund to the allottee after deduction of 20% of the amount deposited till that time within 30 days after resale of the same.

12. Project Master Plans Development Charges

Ocean Marina Gwadar shall develop strictly according to the approved master plan of GDA by laws. Management will calculate development charged before the development work starts. Development charges shall be collected immediately after cost of land payment schedule. Development charges shall be recovered in instalments over 1 year. Documentation, utilities and other misc. charges to be paid by Applicants and when required by authorities. The Developer will make every effect to obtain permanent electricity, water supply, gas connection and meters in the name of his Applicant(s) at the earliest, provided by the Applicant(s) has fulfilled all of his/her obligations. However, the Developer accepts no responsibilities if the connection and/or supplies of any of the above mentioned service is delayed accordingly shall have no liability to the Applicant(s) for such delay.

13. Modification By Pakistan Authorities/GDA

In case the Government/Authorities amends the master plan, then project master plan will be modified accordingly, besides the above Regulations, the orders and instructions of the authority issued from time to time in this regard shall be followed strictly.

14. Right of Modification

The Management of Project reserves the right to make necessary modification in the layout plan of the “Ocean Marina Gwadar” for adverse technical reasons.

15. Transfer Of Applicant

As per clause no 5 – 1.19 of Gwadar Development Authority Act 2003, the allottee can sub-let, transfer or sell his plot/unit to anyone with prior written permission of the Builder/Developer, who shall allow transfer or receipt of all outstanding dues up to that time and transfer fee of 0.5% shall be charged. However, no transfer fees shall be charged in case the transfer is made within 3 months of allotment.

16. Clearance of Dues For Execution Of Sub-Lease

As per clause no 5 – 1.14 of Gwadar Development Authority Act 2003, the sub-lease of the unit shall be executed in favour of the allottee before handing over the possession of the unit, provided the allottee has made payment of the outstanding amount up to that time.

17. Unavoidable Circumstances

The Management of Project shall do its best to maintain steady progress of work and fulfil its obligations to complete “Ocean Marina Gwadar” on time. However, progress will depend on the regular customer payments and unavoidable circumstances beyond the control of Management of Project, like force majeure, war, natural calamity, political disturbance, civil commotions strikes go-slow by the labour and change in the financial policy of the state etc. the Management of Project shall be entitled to interrupt the schedule or construction and to revise the prices.

18. Possession

The physical possession shall be retained by the management of project till all its dues including but not limited to land cost, development cost, documentation and utilities charges and other misc. charges are paid by the applicant/lessee. In case the allottee/lessee fails to receive the possession of the unit in spite of notice, the Management of Project apart from other remedies, shall also be entitled to recover its dues through due process of law, which includes attachment and sale of such unit. Due amount will be paid to Applicant after deduction of 10% within 30 days after resale of same unit.

19. Physical Possession and Care—Taking Charges

The Developer shall, after obtaining occupancy Certificate from the Authority, which shall include the provision of electric, gas, water and sewerage services, issue intimation letters to the allottees. The allottees shall take over possession of the unit within 30 days of receipt of such letter from the builder. In case of delay, the Developer shall charge per month which will be disclosed at the time of possession.

20. Use of unit

The applicants/buyers shall not bring inside “Ocean Marina Gwadar” any goods which are hazardous and combustible. Heavy machinery shall not be transported to any scheme roads for which they are not designed. Hence, prior permission from the Management of Project will be required for any kind of construction work.

21. Arbitration

All disputes of the Builder/Developer and Allottees shall be referred to the Authority. Any appeal against the decision made by the authorised officer of the Authority may be filed before the Chief Controller of Buildings and thereafter any further appeal shall be made to an Appeal Committee consisting of the Chief Executive Authority, Chairman PEC or his representative of Association of Builders and Developers (ABAD) and the representative of concerned Authority. The decision of the committee shall be final and irrevocable.

22. Liability

As per the PROPERTY MISDESCRIPTIONS ACT 1991. Ocean Marina Gwadar deny any liability in relation to any dispute which may arise between the Developer (Ocean Marina Pakistan/Siddiqsons Group/Ocean Associates) and the client. All issues need to be directly addressed to the Developer. And as per the MISREPRESENTATION ACT 1967, Ocean Marina Gwadar does not have any liability in relation to any loss incurred by the client. Ocean Marina Gwadar is acting as an agent and any disputes will be dealt directly with the Developer.

23. Undertaking

The covenants, conditions and agreements contain herein shall bind and benefit the Management of Project(s) and the buyer/applicant and their respective access herein, executor and administrators. The above Terms and Conditions have been read and understood or read and translated to me/us by the person known to me who is educated and I undertake to abide by and accept the same and further that I shall abide by the rules, regulations or any conditions that may be prescribed by the Management of Project for the purchase of the plot in project “Ocean Marina Gwadar” from time to time.

Disclaimer

The information in this website is indicative and is intended to act as a guide only as to the finished product. Accordingly, due to Siddiqsons Group’s policy of continuous improvement, the finished product may vary from the information provided. These particulars should not be relied upon as statements of fact or representations. All computer-generated images and lifestyle photography are indicative only. This information does not constitute a contract or warranty. We shall not be liable for any reliance that you may make or put on it except as expressly agreed with us in any further written agreement that we may conclude with you.

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