TERMS & CONDITIONS
1. MODE OF PAYMENT
a) 100 % payment up-front.
2. TRANSFER OF PLOTS
a) No allottee(s) shall be allowed to re-sell and/or transfer in any way whatsoever, plot(s) or rights therein, to any third party(ies) prior to execution of final Sale Deed.
b) At the time of 100% payment of the plot, an Agreement to Sell will be executed in favor of allottee(s). Final Sale Deed shall be executed on the completion of project and after obtaining a Completion Certificate from PIEDMC.
c) In any eventuality, PIEDMC shall have an exclusive right to re-purchase plot from allottee(s) at the price on which it was sold to him/them, after deducting 5% as service charge and/or after recovery of any other outstanding liability (ies).
d) In case of demise of allottee(s) after allotment prior to execution of Agreement to Sell or Final Sale Deed, his/their legal heir(s) shall be entitled to all rights available to allottee(s) as the case may be. Such legal heir(s) shall be bound by the same terms and conditions and before entering into any supra-referred Agreement(s) shall give his/their similar undertaking also.
3. GENERAL CONDITIONS FOR APPLICANT
a) Submission of an Application along with full payment of the plot does not entitle the Applicant to the right of allotment until final approval by the competent authority.
b) Application must accompany “The Letter of Intent” signed and stamp by the applicant on Rs. 200/- stamp paper as per PIEDMC format.
c) PIEDMC reserves the right to reject any Application without assigning any reason thereof.
d) The units established in industrial estate are required to meet national environmental laws and standards and any other regulations set by the Estate.
e) Any change in nature of business and/or line of production shall be permissible only after obtaining a No Objection Certificate
(NOC) from the of Board of Directors of PIEDMC.
f) The Applicant(s) undertakes that the instant pre-conditions &/or any future bye-laws &/or standards applicable in industrial estate shall be binding on him/them and shall be complied with.
g) Any false or misleading information/statement may result in rejection of Application and/or cancellation of allotment.
h) You will be bound to take physical possession of the Plot(s) within 30 days of being intimated about the same by PIEDMC.
4. OPERATION SCHEDULE
a) Construction of project shall commence within 3 months from the date of execution of Agreement to Sell. The project shall be completed within 21 months from the date of execution of Agreement to Sell. It is clarified that PIEDMC will make available water and electricity, in case they are not available at the time of entering into Agreement to Sell, the time frame is to be calculated from the day the supra-referred utilities are made available;
b) Any violation of pre-conditions, bye-laws and/or building regulations of industrial estate may result in cancellation and subsequent re-possession of the plot;
c) Management & Service (operational and maintenance / other) Charges shall be applicable as per actual, notified from time to time
d) Any violation of pre-conditions, bye-laws and /or building regulations of industrial estate may result in cancellation and subsequent re-possession of the plot, against refund of the price on which the plot(s) was purchased by allottee(s) after deducting 5% as service charge and /or after recovery of any other outstanding liability (ies).
If by reasons of Force Majeure, PIEDMC is wholly or substantially unable to carry out its functions/obligations under instant Application/conditional or Final Sale Deed, the Applicants(s) shall not be entitled to claim any rights or benefits against PIEDMC. Force Majeure constitutes but does not limit to war, rioting, floods, earth quake, lightening, terrorist acts, political changes, Civil commotion, blockade, insurrection, strikes, go-slow, tribal or ethnic conflicts, epidemic or plague, labor issues, legal restrictions, industrial disturbances or any other event beyond the control of PIEDMC.
DOCUMENTS REQUIRED TO BE ATTACHED WITH APPLICATION
i) Certificate of Incorporation;
ii) Copy of Memorandum and Articles of Association, attested by Company Secretary;
iii) Certificate of Commencement of Business (in case of Public Limited Company):
iv) A Resolution to meet financial liabilities of the company;
v) The name of the Director(s) authorized to sign the documents along with a resolution to purchase plot;
vi) NTN number;
vii) Undertaking that the company has a clean bank record;
viii) Detail of any money decree against the company;
ix) Copy of NIC of authorized director(s);
x) Business Profile;
xi) Environmental Undertaking;
xii) Letter of Intent;
xiii) Construction Plan / Schedule
xiv) Post Dated Cheques
2. PARTNERSHIP, FIRMS OR AOPs
i) Partnership Deed;
ii) An undertaking to meet financial liabilities of firm and name(s) of partner(s) authorized to sign documents;
iii) Resolution of Partners regarding project at MIE-II;
iv) NTN Number;
v) Undertaking that the firm has a clean bank record;
vi) Detail of any money decree against the Partnership, Firm or AOP;
vii) Copy of the NIC of the authorized partner(s;
vii) Business Profile;
viii) Environmental Undertaking;
ix) Letter of Intent;
x) Construction Plan / Schedule
xi) Post Dated Cheques
Failure to submit any prescribed document(s) may result in delay in processing, unless the cause is notified. Only NIC(s) issued by NADRA will be entertained. Applicant(s) possessing old NIC(s) should submit copy of receipt(s) issued by NADRA for issuance of computerized NIC(s) along with copy of old NIC(s). Plots being limited, will be sold on First Come First Served basis or balloting where required.
4. PRICE STRUCTURE
Payment: 100% payment up-front
Additional: 10% additional for Corner plot and Main Boulevard