SJR Watermark
SJR Watermark - Issues

The sale agreement of SJR Watermark (by SJR Group, SJR Prime Corp) has unreasonable clauses for RIGHT TO REBUILD:

http://www.sjrgroup.com

http://www.watermarkhomes.in

http://www.primecorp.co

Issue:

An additional area during rebuild (anytime) will not be given to new apartment owners.

Please read Section 14.2

If the sanctioned area is more, the additional area shall accrue to the benefit of the Vendors and Builder, subject they proportionately bearing the cost of the construction.

Here is a complete section 14:

14. RIGHT TO REBUILD:

14.1) In the event of destruction of buildings in `WATERMARK by SJR PRIME

CORP' in Schedule `A' Property or portions thereof, irrespective of

such destruction is due to natural calamities, rioting, fire, inundation of

water or natural deterioration, terrorists activities, due to age or for

any reason whatsoever nature, the respective owners of the buildings shall

have the right to put up the respective spaces/floors in the place now

situated subject to sanction of the required plan from the concerned

authorities, as such the Purchaser/s shall have the right to put up only

the Schedule `C' Apartment as per the sanctioned plan.

14.2) If the total area sanctioned by the authorities is equivalent to the

present area, then the Purchaser/s will have the right to construct and own the

same area as owned by him/her/them prior to the date of destruction. However

if the area sanctioned is less, the Purchaser/s will have the right to construct

and own only proportionate area. If the sanctioned area is more, the

additional area shall accrue to the benefit of the Vendors and Builder, subject

they proportionately bearing the cost of the construction.

14.3) Whenever the constructions are so put up after destruction, the

foundation for such construction shall be of such and should be able to

withstand a minimum of Basement, Ground and the number of Floors that

existed prior to its destruction or demolition and for such foundation

the respective owners should bear the cost in proportion to the areas in

their occupation and accordingly the Purchaser/s shall bear the cost in

the ratio of ownership.

14.4) In the event of any disputes relating to the proposed construction of

the buildings in Schedule `A' Property and/or the respective floors, the same

shall be settled through arbitration amongst all the disputed parties and the

decision in such arbitration shall be final and binding on all the parties.

Company: SJR Watermark
Country: India

  <     >