ARY Laguna Unit Booking

Unit Booking

1. The Verified Member applying to book the Property in ARY Laguna DHA City, Karachi will be referred to as a ‘Member' for the purpose of these terms & conditions. The booking made by the Member with ARY Laguna Karachi (Pvt.) Ltd. (hereinafter referred to as Developer) is binding on the Member. The booking of the property is subject to approval by the Developer.

2. The Member agrees to have provided complete and relevant contact information while registering their Membership.

3. One Booking Form can be used for seeking Booking of one apartment unit only.

4. The Booking Form can only be used for booking in the name of the verified Member for the Original Membership/Application Form holders.

5. All columns and entries (except those specified for official use by the Developer) must be completely filled. No entry is to be left blank. An incomplete Booking Form will not be processed.

6. A Property booked by a Member shall not be used by the Member for any purpose other than that applied or meant for.

7. Actual area may vary from stated area. Unit Layout Plan is used for illustrative purposes only and do not represent the actual size, features, specifications, fittings, and furnishings. The Developer reserves the right to make revisions / alterations, at its absolute discretion, without any liability whatsoever.

8. The Member unconditionally, irrevocably and finally agrees to purchase the Property from the Developer at the Purchase Price, in accordance with the Schedule of Installment Payments.

9. The Member agrees, during the booking process, to submit the Down Payment via Pay Order/Cheque/Credit Card/Online Transfer in the escrow account and surrender/attach all Original Membership/Application Form(s), Validation Letter (if issued), and/or Transfer Letter (if applicable) to the Developer along with the duly signed Booking Form. Furthermore, once designated for form adjustment policy, the surrendered Membership/Application Form(s) would be annulled. Additionally, the Developer will not accept additional Membership/Application Form(s) after the deadline prescribed above from any Member wishing to avail form adjustment policy.

10. All Payments are to be made according to the type and size of the unit as per schedule of payment in favor of “Escrow ARY Laguna Karachi (Pvt.) Ltd.” at designated offices (Pay Order/Cheque/Credit Card/Online Transfer) of bank branches. If the payment(s) is made by the credit card, applicable bank processing charges will be borne by the Member.

11. If any amount is paid by Cheque/Credit Card/Online Transfer and the Cheque/Credit Card/Online Transfer is not settled by the bank, if the pre-registration/registration charges and fees have not been settled by the Member in a timely manner and/or if the Down Payment has not been received by the Developer in full, the Developer may immediately terminate the offer to purchase without the need for notice or any further proceedings (legal or otherwise) or court judgment and any amounts received by the Developer pursuant to the Booking Form shall be absolutely forfeited by the Developer. Such termination shall be without prejudice to the Developer’s right to recover the amount in full and/or Pay Order/Cheque/Credit Card/Online Transfer value from the Member or any additional amount as compensation. The Developer may, at its sole discretion, allow the Member to substitute the returned Pay Order/Cheque/Credit Card/Online Transfer by another form of payment acceptable to the Developer or extend the time period for the full payment of the deposit and/or pre-registration/registration charges.

12. Without prejudice to any other rights or remedies available to the Developer, if the Member fails to pay any installment as per the Schedule of Installment Payment of the booked unit when due and/or upon a written notification from the Developer, the Member shall be obliged to pay a late payment charge at the rate of 1.5% per month (0.05% per day) on all outstanding payments for each day that any such payments are in default. In the event the Member fails to pay a maximum of two (2) consecutive installments as per the ‘Schedule of Installment Payments’, the Developer may, in its sole discretion, grant additional time of not more than thirty (30) days to the Member to pay the outstanding amount of installments subject to late payment charge. However, if the default persists despite the lapse of the said time period, then the Developer will have the right to cancel the booking of the Member after forfeiting the amount of the Down Payment and also deducting 25% of the installment payments paid by the Member thus far.

13. A Property once booked can be transferred but cannot be surrendered or applied for cancellation by the Member. Transfer by the Member to a third party of his / her Property shall be allowed only after receipt of any applicable transfer charges by the Developer.

14. All payments made by the Member pursuant to the Booking Form shall be affected in Pak Rupees-PKR (the lawful currency of the Islamic Republic of Pakistan). In the event any payment is affected in any other currency for any installment, the credit to the Member account would be given based on the amount realized in PKR by the Developer. Accordingly, any shortfall/surplus due to exchange rate differences shall be recovered/adjusted towards the next installment payment.

15. In case the Developer decides not to proceed with the development of a particular building or block in a phase of the Project during a period of one hundred twenty (120) days from the date of signing the Booking Form, the Developer shall be entitled not to proceed in the booking of the Property at any time, and to terminate the Booking Form without the need to disclose the reason for termination, and without the need for any legal proceedings or court judgment, and without any liability whatsoever. In case of such termination, and subject to the receipt of the deposits in full, the Developer shall (in the respect) refund the deposits to the Member without any interest and without any other compensation of any kind.

16. The Member agrees to and accepts the foregoing provisions and that except in case of termination by the Developer in accordance with Clause (15) above, the Deposit (or any paid portion thereof) is not refundable to the Member for any reason whatsoever.

17. In case of transfer by the Member to a third party of his / her property, the original Member will be liable to clear all committed dues, accrued as at the date of such transfer, with the Developer before such transfer.

18. Due to escalation of prices and/or any other essential reasons, additional development/construction charges may be imposed on the Member, if deemed necessary by the Developer.

19. It is understood and agreed by the Member that the completion/handover date as per issued payment schedule represents the date by which it is presently expected that the phase of the Project will be completed and be ready for handover to the Member. However, the Developer reserves the right to extend the completion/handover date by giving a reasonable notice to the Members prior to completion/handover date. In addition, the completion/handover date may also be extended due to an Event of Force Majeure as provided in Clause 21 and on account of any default in payment by the Member. In the event of any extension of the completion/handover date, the Developer shall not be liable for any claims, damages, or compensation. Furthermore, the Member shall not be entitled to cancel the booking or claim any refund on account of any delay in completion/handover.

20. “Event of Force Majeure” means an act of God including but not limited to fire, flood, earthquake, windstorm, epidemic, pandemic or other natural disaster; act of any sovereign authority including but not limited to war, invasion, act of foreign enemies, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection, military or usurped power or confiscation, nationalization, requisition, destruction or damage to property by or under the order of any government or public or local authority, courts or other competent authority or imposition of government sanction embargo or similar action, or economic turmoil that effect industrial outlook, or non-availability of steel or cement or other building material or water supply or electric power or slow down due to a dispute with the relevant agencies employed by the Developer; labor dispute including but not limited to strike, lockout or boycott; interruption or failure of utility service including but not limited to electric power, gas, water or telephone service; failure of the transportation of any personnel, equipment, machinery or material required by the Developer for completion of the Project; breach of contract by any essential contractor or subcontractor, or fluctuations in costs of materials or unavailability at reasonable prices or any other matter or cause beyond the control of the Developer that prevents it from completing or performing its obligations under the applicable terms and conditions of relevant contract(s). In case of an Event of Force Majeure, the Developer shall be excused from performance for so long as such Event of Force Majeure exists and its effects continue. The Developer shall not be liable to the Member for any loss, damages, or delay due to any such Event of the Force Majeure, and the time for performance shall be extended in accordance with Clause 21 below.

21. Should an Event of Force Majeure occur that will delay the completion/hand over date, the Developer shall promptly notify the Members of the event and give the Members revised completion/hand over date or an estimate of the duration of the delay, followed by a revised completion/hand over date as and when the same can be determined. However, the Developer shall not be bound by any predetermined duration of delay as the extent and impact of an Event of Force Majeure may be unpredictable. The delay shall enable Members to withhold the 20% (1/5th of the Purchase price) payable amount and make the said payment on the notified revised completion/handover date, provided that the Developer has the right to adjust the withheld amount based on changes in the overall project costs attributable to the Event of Force Majeure.

22. The Developer will make every effort to obtain permanent electricity and water connections and meters at or prior to the completion/handover date subject to the Member having fulfilled all of their obligations hereunder. However, the Developer accepts no responsibility if the connection or supply of any of the above-mentioned services is delayed and, accordingly, shall have no liability to the Member for such delay even beyond the completion/handover date. The Member shall pay forthwith on first demand made by the Developer all costs and charges for obtaining electricity and water connections, meters and related infrastructure. Such costs shall be determined by the Developer and payable by the Members, with the Developer reserving the right to revise these costs in the event of fluctuations in market rates or additional charges levied by the authorities.

23. All the communications sent by the Developer to the Member at the address given/registered at the time of verification of Membership/Application Form(s) shall be deemed to have been received by the Member either by mail or e-mail. The Developer shall continue to correspond if and when required with the Members at the address mentioned in the Membership/Application Form(s) unless the change of the address is given in writing or by e-mail and such changed address is acknowledged by the Developer. Any such communication returned to the Developer for whatever reason is deemed received by the Member and the Member agrees to abide by the content of such communication. It is the sole responsibility of the Members to provide updated contact information to the Developer.

24. Voucher adjustments in the payment schedule are non-refundable.

25. The Member irrevocably and finally represents and confirms, at the Member’s full responsibility, having complied with all regulations, laws and requirements in all relevant jurisdictions (inter alia all relevant exchange control requirements) and obtained all licenses, consents or permissions that are required to enter into and perform his/its obligations under the Booking process and/or under any document executed or to be executed pursuant to the Booking process.

26. The Developer may, at any time during the booking process or otherwise, require certain information from the Member (depending on whether the Member is an individual, company or trust) in order to identify and verify the identity of the Member or the beneficial owner of the Property (if the Member is acting on behalf of the beneficial owner).

27. In case the Member is a Politically Exposed Person (PEP) or a family member or close associate of a PEP under the AML/CFT legislations, he/she/it may be required to provide a signed declaration to that effect as part of the ‘Member Information Form’.

28. The Member may be required to declare, as part of the ‘Member Information Form’, that it/he/she or its/his/her beneficial owner is not designated/proscribed by the Statutory Regulatory Orders (SROs)/notifications issued by the Ministry of Foreign Affairs, National Counter Terrorism Authority and Ministry of Interior of Pakistan.

29. If required, the Member may be required to provide certain information relating to his/her/its source of wealth or source of funds.

30. The Member guarantees at the Member’s sole responsibility that all payments of any kind made under or pursuant to the Booking Form are paid by funds of legitimate source and that the same are not the proceeds of any crime or illegal activity.

31. In case of any dispute between the Developer and a Member, the dispute will be referred to the Management Committee of the Developer and whose decision will be final and binding on the Member.

32. All amounts to be paid to the Developer pursuant to the Booking Form are exclusive of all applicable all taxes, levies, or duties imposed by taxing authorities in the Islamic Republic of Pakistan. The Member shall pay to the Developer the applicable levies, or duties imposed by taxing authorities without delay. Subject to the applicable laws and regulations, in the event any amount due to the Developer pursuant to the Booking Form is made in installments or through deferred payments, the Developer shall issue a tax invoice to the Member in respect of the due tax upon the encashment by the Developer of the relevant installment or the deferred payment (as applicable). After NOC from the Developer, the Member will be subject to the relevant membership, lease registration, and will be subject to any charges levied by DHA.

33. The Developer, in its sole discretion, reserves the right to change or amend the Terms and Conditions hereof without notifying the Member(s), and the Developer will notify new updated Terms and Conditions on