1. Apartment is offered for residential purpose only. The anticipated period of completion and delivery of physical possession is 60-months from the date of balloting of this application subject to timely payment of installments by the allottees.
2. Confirmation of Booking is subject to security clearance by PAF and through computerized balloting, in case number of booking applications exceeds the planned number of Apartments. Whereas Allocation of Apartment to the successful applicants will be made through further computerized balloting in due course of time.
3. All installments must be credited to FHSK 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).
4. Booking/Allotment of the Apartment will be cancelled upon failure to pay three consecutive installments. No prior notice shall be served to any applicant/allottee by the management of Fazaia Housing Scheme 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 FHSK.
5. After Balloting, if the applicant fails to pay the first installment within four (04) months from the date it has become due, the booking of the apartment will be cancelled immediately without notice and the booking amount will be forfeited.
6. Price of the Apartment 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.
7. The areas of apartments are approximate on the basis of architectural designs and total price of the unit will be on the basis of actual covered area (including circulation areas) of the apartment, which will be finalized at the time of handing over of physical possession. 5% of the total cost of the unit as Corner Charges and 5% of the total cost of the unit as West open charges will be charged extra, payable immediately after allocation of apartment.
8. Applicant/Allottee shall not transfer or sell his/her rights of the booked Apartment to anyone without prior permission of FHSK and subject to clearance of all due & payable amounts including surcharges and transfer fee against the booked unit, as demanded by FHSK.
9. FHSK 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.
10. Due to unavoidable circumstances like force majeure, natural calamities, civil commotion, strikes, go-slow by the labor or change in the Government fiscal policies, FHSK shall be entitled to revise the handing over date of project and the prices.
11. Allottee shall be responsible to accept and take over physical possession of the booked Apartment 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 FHSK at the relevant time.
12. Physical possession of the Apartment shall be retained by FHSK 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 unit despite of Issuance of the completion notice, FHSK, 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.
13. No further construction or modification to any constructions is allowed without prior written approval of FHSK.
14. Lease Execution:
a. The lease/sub-lease of the Apartment shall be executed through FHSK in favor of the allottee/purchaser only after receiving full and final payment of the total price of the unit inclusive of all outstanding amount and other charges as specified under clause 6 & 7 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.
15. All Serial Numbers and/or other identification numbers and marking given in the plans, booking and/or allocation letter pertaining to units are ad-hoc, temporary & tentative. FHSK reserves the right to amend/change/renumber the same, if deem necessary to FHSK.
16. All correspondence to the allottee/lessee shall be mailed on the address mentioned in the application form and on the address of nominee. FHSK shall not be responsible for non-delivery of the letters.
17. The discount, if any, formally announced by FHSK, will be available to the relevant applicant subject to the regular payment of the dues/Installements.
18. For unsuccessful applicants, the booking amount will be refunded immediately after balloting without any profit, markup/interest. However, the processing, if any, is non-refundable.
19. FHSK reserves the right to accept/reject any/all applications without assigning any reason thereon.