Dear All,
This is to bring to the notice of all through this Forum not to sign the Addendum being forwarded to be signed by BPTP.
I own a 250yrd IInd Floor @ BPTP Park Elite Floors & signed my Flat Buyer Agreemnt in the month of May.
I am surprised to come to know while browsing through all the Forums that nobody has read between the lines & understood the actual objective of this Addendum.
While Clause 2 under the Changes mentioned is very much clear, whereby it has been mentioned that the period of 24 months shall be counted from the day of Approval of Plan or the day of signing the Agreement whichever is later ; which clearly means that it is to be counted from the day of signing the Agreement as Agreement with all the buyers was signed after the Approval & many buyers are still to sign the Agreement.
The major catch is in the clause 1, which states the detailed definition of Super Area. While it seems to be very normal & simple in the first look, but there is a bigger Game being played by BPTP.
I trust we all remember the product beeing presented ot us since starting & lets revisit the same: -
1. In the initial Offer the Area mentoned through the Brochure was presented as a) Built UP Area b) Terrace Area & c) Total Usable Area. The Basic Sale Price was quoted in Lumpsum for the Total Usable Area.
2. In the Flat Buyer Agreement the Built - Up Area was mentioned as Super Area & within the defination it was mentioned that it will be inclusive of Balconies & Stair Cases (Of which the Floor Plan had been enclosed within the Agreement).
For the notice of All there was no reference made of the terrace area in the Flat Buyer Agreement & thereby the Per sq ft. Basic Sale Price was calculated by using the formula - Lumpsum BSP / Built Up Area whcih should have been - Lumpsum BSP / Total Usable Area.
When it was brought to the notice of the Representatives at BPTP at the time of signing the Agreement they very smartly mentioned verbally that the terrace area is free of cost as mentioned in the brochure & therefore not mentioned in the Agreement & thanks to my foolishness I got convinced.
3. Now please read the Addedndum carefully whereby the Terrace Area has been very smartly induced within the definition of the Super Area. This will mean that your Super Area will be = Built-up Area Terrace Area which is going to increase the Super Area by 30% - 55% dependent on the Floor.
This is going to Empower BPTP to proclaim the charges on artificially depicted Addtional Area (Terrace Area) @ Rs.2450/- per sq ft as mentioned in the Flat Buyer Agreement at the time of Completion certificate.
I have reached this assessment after consulting 2 Senior Legal Personnels (VP Level) in the Real Estate Industry.
I hereby request All the Buyers not to sign this Addendum without legal consultation. This could be withdrawn by BPTP only when we as Buyers do not sign this & boycott this together.
What they are threatening is to withdraw 5% timely payment discount which they can withdraw any time as per the Agreement & is very meager when you compare it with 10-15 Lacs they could charge on the basis of this Addendum.
I have also got small response letter to be forwarded to BPTP through the Legal Expert.
I will share the same here on Tuesday & could be downloaded from here.
God May safeguard us from these attempts of Fraudulent acts.
Thanks,
Vishal
0 comments