Welcome to Pine Valley Residency. Please read the following Terms and Conditions carefully. These clauses govern the booking, allotment, construction, and possession process of all residential units, cottages, and apartments developed by our group in Chandigarh, Panchkula, and Shimla.
01. Introduction & Scope
These Terms and Conditions constitute a legally binding agreement between the homebuyer ("Purchaser") and Pine Valley Residency ("Developer"). By placing a booking request or depositing token money for any cottage or apartment, the Purchaser agrees to abide by these terms, alongside the rules laid out in the official Buyer-Seller Agreement (BSA).
The project "Pine Valley Residency, Shimla" is registered under the Real Estate Regulatory Authority (RERA) and is developed in accordance with applicable laws of the state of Himachal Pradesh. Completed projects in Chandigarh and Panchkula comply with their respective regional building regulations and municipal laws.
02. Booking and Allotment Process
Allotment of any residential unit is subject to availability and will only be processed after the receipt of the booking request form, completed and signed, along with the specified booking amount (token money).
- The minimum booking amount is typically 10% of the total cost of the apartment or villa.
- The allotment remains provisional until the Buyer-Seller Agreement (BSA) is executed between both parties, which must be completed within 30 days of the booking date.
- All applicant details, including Permanent Account Number (PAN), Aadhaar Card, and financial proofs, must be accurate and valid under Indian law.
Please Note: If the Purchaser fails to execute the Buyer-Seller Agreement within 30 days of paying the booking amount, the Developer reserves the right to cancel the provisional booking and forfeit the initial administration charges.
03. Pricing and Payment Schedule
The pricing of apartments and cottages is based on the Super Area and/or Carpet Area as defined under RERA rules. The price structure includes the basic sale price (BSP) but excludes external development charges (EDC), infrastructure development charges (IDC), GST, stamp duty, registration charges, and power backup installation costs.
- Payments must be made strictly in accordance with the construction-linked payment plan selected at the time of booking.
- Interest at a rate of 12% per annum (or as defined by state RERA rules) will be applicable on all delayed payments beyond the due date.
- Any variation in government taxes, municipal charges, or cess introduced during construction will be passed on to the Purchaser.
04. Possession and Construction Timelines
The Developer commits to complete the construction of the building structure and hand over possession of the unit within the timeline agreed upon in the Buyer-Seller Agreement, subject to force majeure events.
- Force Majeure: Delays caused by war, civil unrest, strikes, natural disasters, changes in municipal bylaws, or delay in government environmental approvals are excluded from the development timeline.
- A grace period of 6 months is standard for construction-related contingencies.
- Possession will only be handed over after all dues are paid in full and the local municipal authority issues the Occupation Certificate (OC).
05. Refund and Cancellation Policy
Purchasers can request cancellation of their booking prior to the execution of the final registration deed. However, refunds are subject to standard forfeiture clauses:
- In the event of cancellation by the Purchaser, 10% of the total basic sale price (earnest money) will be forfeited.
- Any taxes paid to government agencies (e.g. GST) cannot be refunded by the Developer and must be claimed directly from the authorities by the Purchaser.
- Approved refunds will be processed and disbursed within 90 days of receiving the formal cancellation application and the original allotment letter.
06. Maintenance and Society Guidelines
To maintain the architectural integrity, security, and standard of living at Pine Valley Residency, all unit owners are bound by the community maintenance policies.
- Upon possession, every owner must pay a one-time Interest-Free Maintenance Security (IFMS) deposit.
- Monthly maintenance fees will be payable to the Residents' Welfare Association (RWA) or the maintenance agency designated by the Developer.
- Owners are strictly prohibited from altering the external facade, structural pillars, balconies, or common areas of the apartments or cottages without written permission from the RWA.
07. Legal Disclaimers & Jurisdiction
The brochures, 3D renderings, floor layouts, and digital mockups provided on the website or in promotional pamphlets are for representation purposes only. The final building specifications will be governed solely by the terms in the Buyer-Seller Agreement and approved construction plans.
All disputes or claims arising out of the booking, construction, or maintenance of Pine Valley Residency units are subject to the exclusive jurisdiction of the courts in Chandigarh or Shimla, where the respective properties are located.
