PERSONAL DETAILS FORM

SOLE /FIRST APPLICANT

Mr./Ms./M/s _________________________________________________
S/W/D of ____________________________________________________
Date of Birth _____________________Nationality ___________________
Occupation ___________________________________________________
Residential Status:
Resident/Non- Resident/Foreign National of Indian Origin __________________________
Income Tax Permanent Account No. _______________________________
(Photocopy of PAN Card to be attached)
Mailing Address:
________________________________________________________________________________
________________________________________________________________________________
Pin Code: _____________ City: ____________ State: ______________ Country: _______________
Telephone No. : _____________________

Mobile No. : _____________________

E- Mail I D: ____________________________ Fax. No. : ________________________

Permanent Address:
________________________________________________________________________________
________________________________________________________________________________
Pin Code: _____________ City: ____________ State: ______________ Country: _______________
Telephone No. : _____________________

Mobile No. : _____________________

E- Mail ID: ____________________________ Fax. No. : ________________________

______________________
Signature

Agreement
This Agreement is made at Gurgaon on this the ________ day of ______15:
BETWEEN
Advance India Projects Limited, a company incorporated under the provisions of the Companies
Act, 1956 and having its registered office at 232-B, Fourth Floor, Okhla Industrial Estate, PhaseIII, New Delhi-110 020 and having its Sales & Marketing office at The Masterpiece, Golf
Course Road, Sector-54, Gurgaon-122002, having CIN U45209DL1997PLC087292 (hereinafter
referred to as the Developer, of the ONE PART, which expression shall unless it be
repugnant to the context or meaning therefore, be deemed to include its successors and
permitted assigns), acting through its Authorised Signatory, Ms Nandita Chauhan;
AND
___________, S/o, W/o _____________________, having his residence at
_____________________________________________________________,
having
Permanent Account Number __________________ (hereinafter referred to as the Investor,
of the OTHER PART, which expression shall, unless it be repugnant to the context or meaning
thereof, be deemed to include their heirs, legal representatives, administrators, executors,
successors & assigns).
The Developer and the Investor are collectively referred to as Parties and individually as
Party.
WHEREAS
A.

Baakir Real Estates Private Limited, a company incorporated under the provisions of the
Companies Act, 1956 and having its registered office at 232B, Fourth Floor, Okhla
Industrial Estate, Phase-III, New Delhi-110 020 (hereinafter referred to as the Owner)
is the Owner of all that piece and parcel of free-hold land admeasuring 8.35625 acres i.e.
33,815.528 sq. mtrs. situated in the revenue estate of Village Maidawas, Sector 62, Tehsil
and District Gurgaon, Haryana (hereinafter referred to as Said Land).

B.

The Owner intends to construct and develop a Complex on the Said Land and
accordingly it has obtained the LOI bearing Memo No. LC-1629/DS(R)-2010/9965
dated 10 August 2010 and License No. 86 of 2010 dated 23 October 2010 from the
Director, Town & Country Planning, Haryana, Chandigarh (herein DTCP) under
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Haryana Development and Regulation of Urban Areas Act, 1975 (herein Act of 1975)
for development of a Cyber Park/IT Park on the Said Land.
C.

The Developer is well established in the business of real estate development and has
significant expertise in developing, promoting, marketing, leasing, licensing and selling of
Commercial Buildings, Malls, Integrated Townships, Residential Buildings, IT/Cyber
Park, etc.

D.

The Owner has entered into a Development Agreement with the Developer for
development of FSI of 4,47,708.118 sq. ft. for setting up of a Cyber/IT Building
comprising of various IT units, Commercial Spaces and Common Areas along with the
support infrastructure, utilities and services therein (hereinafter referred to as the AIPL
Business Club) on 3.472 acres i.e. 14,047.00 sq. mtrs. of plot of land out of the Said
Land in pursuance of the said License and in accordance with the building plan to be
approved by the appropriate authorities, and after obtaining requisite sanctions,
permissions and approvals from the appropriate authorities, and in accordance with the
applicable laws, whereunder, the Owner has transferred and assigned the rights of
development (including but not limited to planning, designing, construction, creation,
operation and maintenance), marketing, leasing, licensing, booking, allotting, selling and
transferring of AIPL Business Club in favour of the Developer.

E.

The Investor is interested in allotment/purchase of space in the AIPL Business Club and
has approached the Developer for the same and has specifically opted for the investment
return plan, after perusing and verifying, the title documents and the tentative Building
Plan and Layout Plan of the AIPL Business Club, and fully understanding and satisfying
himself about the authority of the Developer to construct and develop the AIPL
Business Club and sell or transfer the space in the AIPL Business Club, in full or in parts,
on such terms as the Developer may deem fit, and has understood all limitations and
obligations in respect thereof.

F.

The Investor acknowledges that the Developer has readily provided all information and
clarifications as required by him, but he has not unduly relied upon and is not influenced
by any representations, warranties, statements or estimates of any nature whatsoever
whether written or oral made by the Developer, its representatives, selling
agents/brokers or otherwise including but not limited to description or physical
condition of the AIPL Business Club or any other physical characteristics thereof, the
services and facilities to be provided by the Developer or any other data except as
specifically represented in this Agreement and that the Investor has relied solely on his
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own judgment and investigation in deciding to enter into this Agreement and that this
Agreement is self-contained and complete in all respects.
G.

The Investor confirms to the Developer that he is entering into this Agreement with full
knowledge of all the applicable laws, rules, regulations notifications etc. in general and
applicable to the AIPL Business Club in particular and the terms and conditions
contained in this Agreement and that he has clearly understood his rights, duties,
responsibilities, obligations under each and all the clauses of this Agreement. The
Investor undertakes to comply with the terms of this Agreement at all times.

H.

That the parties hereto have mutually agreed and reached an understanding regarding the
allotment/sale/purchase of the space in the AIPL Business Club and are desirous of
recording the terms thereof in writing.

NOW, THEREFORE, THE PARTIES HEREBY AGREE AND THIS AGREEMENT

WITNESSETH AS FOLLOWS:
1.

That recitals and annexures to this Agreement shall form an integral part of this
Agreement.

2.

That the Investor hereby confirms that he is aware that the Developer has applied for
approval of Building Plans of the AIPL Business Club with the appropriate authorities,
and that the area will be allotted to him after approval of the building plans from the
appropriate authorities.

3.

That the Investor agrees to allotment/purchase on investment return plan, the IT/ITes
area space admeasuring a super area of 500 (five hundred) sq. ft. approximately in the
AIPL Business Club (hereinafter referred to as the Said Unit) subject to final
confirmation of area on completion of the AIPL Business Club, at basic sale price of Rs
______________/- (rupees ______________________ only) per sq. ft. of super area
aggregating to a basic sale consideration of
Rs ______________/- (rupees
__________________________________ only). In case of variation in super area up to
the extent of 5% either in excess or in deficiency, the rates as agreed hereinabove shall
operate. However, in case variation in the super area is more than 5% the cost
adjustment for the variation in excess of 5% would be done at the then prevailing market
rate subject to the right of the Investor to withdraw from this booking and upon exercise
of which the Investor shall be entitled to receive from the Developer refund of the
monies paid by it to the Developer in terms of this agreement without any interest
thereon which shall be towards full and final settlement of all its claims with regard to the
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booking and further (in such an eventuality) the Investor shall not be entitled to claim
any damages/charges from the Developer for such withdrawal. The Plan of the area to
be allotted by the Developer to the Investor shall be detailed and annexed to the
Space/Unit Buyer Agreement to be executed in respect of sale of Said Unit. The rates
charged are on the basis of super area. The Investor is aware that the Carpet area would
be less than super area. The decision of the Developer in respect of super area will be
final and will be accepted by the Investor.
4. Other Statutory Charges and taxes (including Service Tax and VAT), etc shall be paid
over and above the basic sale consideration of Rs __________/- (rupees
_______________________________________ only) as per the details to be provided
and annexed with the Space/Unit Buyer Agreement. The applicable charges shall be paid
by the Investor as per the Payment Plan to be provided and annexed with the
Space/Unit Buyer Agreement.
5. That the Investor has already paid the entire basic sale consideration of Rs
____________/- (rupees __________________________only) including service tax of
Rs _________/- (rupees __________________________________________ only)
before the execution of this Agreement, the receipt of which is acknowledged by the
Developer.
6. That the Developer will pay to the Investor Rs __________/- (rupees
_____________________________________ only) per month subject to withholding
tax as an assured return to the Investor with effect from __________________ till the
date of possession of the Said Unit. The return shall be inclusive of all taxes whatsoever
payable or due on the return.
7. At the request of the Investor, the Developer agrees to put the Said Unit, individually or
in combination with other adjoining units, on lease, for and on behalf of the Investor, as
and when the Said Unit is ready and fit for occupation. The Investor has clearly
understood the general risks involved in giving any premises on lease to third parties and
has undertaken to bear the said risks exclusively without any liability whatsoever on the
part of the Developer. It is further agreed that:
7.1. The Developer will pay to the Investor Rs _________/- (rupees
_____________________________ only) per month as committed return
for upto three years from the date of notice of possession of the Said Unit or
till the same is put on lease, whichever is earlier. After the Said Unit is put on
lease, then payment of the aforesaid committed return will come to an end
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and the Investor will start receiving lease rental in respect of the Said Unit as
described hereinafter.
7.2. The Investor shall execute documents as and when may be necessary and as
may be desired by the Developer in this connection without any objection or
demur.
7.3. The Developer shall have the authority to negotiate and finalize the leasing
arrangement in respect of the Said Unit, individually or in combination with
other adjoining units, with any suitable tenant/s, for whatever period and for
whatever rent and with whatever conditions as may be negotiated by the
Developer with the intending lessee(s) and as may be thought fit and
appropriate by the Developer and to execute the lease with the said intending
lessee in its own name or on behalf of the Investor for which the Investor
has vested the Developer with all the powers and rights which shall not be
questioned by the Investor subsequently.
7.4. The Developer shall also have the authority to negotiate, finalize and execute
the renewals of the existing leases and the subsequent leases of the Said Unit
with the existing/ new tenant(s) on behalf of the Investor at the cost and
expense of the Investor, including any brokerage to be paid in respect of the
same, and to get registered such renewals/ fresh leases on behalf of the
Investor at the cost and expense of the Investor. The rent, period and other
terms and conditions of such renewals/ fresh leases will be as may be the
outcome of negotiations conducted by the Developer with the existing/ new
tenant(s) and the Investor shall not raise any objection in respect of the same.
The Developer shall be authorized to appear before any competent authority
and to lodge any lease document in respect of the Said Unit for registration at
the cost and expense of the Investor in accordance with the terms agreed in
the lease document for which the Investor herby authorizes the Developer.
7.5. The Developer expects to lease out the Said Unit (individually or in
combination with other adjoining units) at a minimum lease rental of Rs. 60/(rupees sixty only) per sq. ft. super area per month for the first term (of
whatever period). If on account of any reason, the lease rent achieved in
respect of the first term of the lease is less than the aforesaid Rs. 60/- (rupees
sixty only) per sq. ft. super area per month, then the Developer shall pay to
the Investor a one time compensation calculated at the rate of @ Rs 120/(rupees one hundred and twenty only) per sq. ft super area for every one
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rupee drop in the lease rental below Rs. 60/- (rupees sixty only) per sq ft.
super area per month. This provision shall not apply in case of second and
subsequent leases/ lease terms of the Said Unit.
7.6. However, if the lease rental in respect of the aforesaid first term of the lease
exceeds the aforesaid minimum lease rental of Rs 60/- (rupees sixty only) per
sq. ft. super area, then, the Investor shall pay to the Developer additional
basic sale consideration calculated at Rs. 60/- (rupees sixty only) per sq. ft
super area of the Said Unit for every one rupee increase in the lease rental
over and above the said minimum lease rental of Rs 60/- (rupees sixty only)
per sq. ft. super area per month. This provision is confined only to the first
term of the lease and shall not be applicable in case of second and subsequent
leases/ lease terms of the Said Unit.
7.7. The lease document will stipulate payment of rent by the lessee to the
Developer, who in turn will remit the proportionate rent to the Investor,
after deducting expenses/costs of managing the leasing arrangement &
collection of rentals which presently work out to Rs. 7/- (rupees seven only)
per sq ft per annum of the super area leased. The said charges are subject to
upward revision subsequently about which the Developer will keep the
Investor informed in a suitable manner. Although the basic liability to deposit
service tax paid by the lessee on the rent lies with the Investor but due to
practical constraints, the Investor has authorized the Developer to deposit
the said service tax with the authorities on his behalf. The Investor also
undertakes to comply with all other statutory requirements in respect of the
Said Unit without any liability or responsibility on the part of the Developer.
7.8. During the tenure(s) of the lease(s) as well as during the intervening gaps, the
Said Unit shall be deemed to be in legal possession of the Investor. However,
the Investor shall not demand or claim physical possession of the Said Unit
till it is on lease.
7.9. The Developer shall not be responsible for any defaults, including nonpayment of rent and other dues and similar such breaches by the lessees and
the Investor shall be solely responsible for the same. However, the Developer
will take such legal action as may be deemed fit and proper by it against such
defaulting lessee(s) at the cost and expense & risk and responsibility of the
Investor for which the Investor shall execute appropriate documents/
authority letter and the Investor shall not be entitled for any rent or return
for the periods of such defaults/ non-payment until the same are recovered
through court process or otherwise. In case of partial recovery, the Investor
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7.10.

will be entitled for only proportionate rent out of rent recovered from the
lessee after appropriation of cost and expenses thereof.
The Developer shall not be responsible for any damage caused by any lessee
to the Said Unit. However, the Developer may take such legal action as it may
deem fit against such a lessee(s) at the cost & expense and risk &
responsibility of the Investor.

7.11.

The lease document will stipulate payment of maintenance and other such
charges by the lessee(s) during the period of the lease(s) to the
Developer/maintenance agency/company. However, in the event of nonpayment or delayed payment of such charges by the lessee(s), the ultimate
responsibility of the payment of the same shall be that of the Investor.

7.12.

It is clarified that the scheme under which the units are being agreed to be
sold in terms of this clause (under leasing arrangement) is specifically
designed for earning rental income from the unit and not for its personal
physical occupation or use by the Investors. The Investor has agreed to enter
into this Agreement in respect of the Said Unit after clearly understanding the
pros and cons of this scheme and shall not raise any objection whatsoever to
the same later on. Physical possession, when given, will be in the same state
in which, the previous occupant/ lessee has vacated the unit i.e. on as is
where is basis. Further, it is clearly understood by the Investor that, upon
such possession being given, the Developers/ Maintenance Companys
responsibility of providing services such as air-conditioning, fire fighting, and
electrical supply shall be limited to catering to units having area 3000 sq. feet
each and it shall be the responsibility of the Investors to further channelize
the said services so as to cater to their respective units.

8.

That the Developer will enter into Space/Unit-Investor Agreement with the Investor in
respect of the Said Unit as and when demanded by the Developer. The detailed terms
and conditions for the allotment of the Said Unit shall be covered in the Space/UnitInvestor Agreement.

9.

That the Developer will execute the Sale Deed in favour of the Investor after receiving
full consideration in respect of the Said Unit and other charges as mentioned in clause 4
hereinabove, and receipt of Completion Certificate of the AIPL Business Club from the
appropriate authorities. All the expenses related to execution and registration of the said
Sale Deed shall be borne by the Investor.
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10.

That the Investor agrees to abide by the terms and conditions imposed by the
appropriate authorities. Any charges demanded or levied by appropriate authorities
towards vacant land tax, property tax or any other taxes, levies or charges to the Said
Unit or the AIPL Business Club, after the date of execution of this MOU and during the
course of construction of the AIPL Business Club and thereafter shall be borne by the
Investor, irrespective of the fact that the Investor(s) has not yet commenced enjoying any
of its envisaged benefits, actual or notional in nature from the Said Unit. Such charges,
taxes and levies shall be payable immediately on demand to the Developer or its
nominated agency and will be levied and demanded on proportionate basis. However, if
assessment of the property tax is not made separately for each unit of the AIPL Business
Club by the concerned Appropriate Authorities, then in that event the Investor shall pay
his proportionate share to the Developer.

11.

The Investor will enter into separate Maintenance Agreement with the Developer
Maintenance Agency duly appointed by the Developer when called upon to do so. The
terms of maintenance of the Said Unit and AIPL Business Club including Common
areas, infrastructure, facilities, payment of maintenance charges, interest free security
deposit, etc shall be governed by the Maintenance Agreement. It is hereby clarified that
maintenance charges shall be payable post issue of notice of possession for the Said Unit
by the Developer to the Investor.

12.

That the Investor agrees that in case the use of the Project is converted from IT/ITes to
Commercial by the Competent Authorities then the conversion charges alongwith
Developers administration and service charges will be paid by the Investor to the
Developer proportionately. Proportionately/ Proportionate means Ratio of the Super
Area of the Said Unit to the Total Super Area of the AIPL Business Club. The applicable
proportionate conversion charges shall be paid by the Investor at the time of demand by
the Developer. This right shall be applicable for all other sales, if any, made by Developer
to the Investor in AIPL Business Club prior to this Agreement.

13.

The Investor cannot assign the rights and liabilities under this Agreement to any person
without prior written consent of the Developer.

14.

In case the Investor is NRI/PIO, the Investor agree that the Investor itself shall be
responsible for complying with the necessary formalities as laid down in the Foreign
Exchange Management Act, 1999 (FEMA), rules and regulations of the Reserve Bank of
India or statutory enactments or amendments thereof and all other applicable laws
including that of remittance of payments, acquisition, sale, transfer of immovable
property, etc., and provide the Developer with such permissions, approvals. The Investor
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agree that in the event of any failure on its part to comply with the applicable guidelines
issued by the Reserve Bank of India, FEMA or any other law(s), the Investor shall alone
be liable for any action under the provisions of relevant Act, Regulations etc. The
Developer accepts no responsibility and liability in this regard and the Investor shall keep
the Developer fully indemnified and harmless in this regard.
15.

That the failure of any party to insist upon a strict performance of any of the terms and
provisions of this Agreement, or to exercise any option, right or remedy herein
contained, shall not be construed as a waiver or as a relinquishment of such term,
provision, option, right or remedy, but the same shall continue and remain in full force
and effect. No waiver by any party of any term or provision hereof shall be deemed to
have been made unless expressed in writing and signed by such party.

16.

That any notice, letter or communication to be made, served or communicated unto any
Party under these presents will be deemed to be duly made, served or communicated
only, if the notice or letter or communication is addressed to the Party at the address
shown above or changed address as may be intimated by the Party in this behalf and sent
by Registered Post AD.

17.

That if any provision of this Agreement is prohibited or determined to be void, illegal or

unenforceable under applicable laws, such provision shall be deemed to be amended or
deleted in so far as reasonable inconsistent with purpose of this Agreement and to the
extent necessary to conform to applicable laws and remaining provision of this
Agreement shall remain valid and enforceable in accordance with their terms.

18.

All or any disputes arising out of or touching upon or in relation to the terms of this
Agreement or its termination including the interpretation and validity of the terms hereof
and the respective rights and obligations of the Parties shall be settled amicably by mutual
discussions, failing which the same shall be settled through reference to a sole Arbitrator
to be jointly appointed by the Developer and the Investor, whose decision shall be final
and binding upon the Parties. The arbitration shall be governed by the Arbitration and
Conciliation Act, 1996 or any statutory amendments/modifications thereto and shall be
held at the Developers offices or at a location designated by the said Sole Arbitrator in
Gurgaon. The language of the arbitration proceedings and the Award shall be in English.
The Award of the Sole Arbitrator shall be final and binding on the Parties. Both the
Parties will share the fees of the Arbitrator in equal proportion.

19.

This Agreement supersedes and has over riding effect on all prior discussion and
correspondence between the parties or any other agreement and understanding that the
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parties may have in respect of the Said Unit and/or the AIPL Business Club to the extent
those agreements and understandings effect the subject matter contained in this
Agreement.
20.

That no change, modification or alteration in this Agreement shall be done without the
written consent of the parties.

21.

That the rights and obligations of the Parties under or arising out of this Agreement shall
be construed and enforced in accordance with the laws of India. Subject to the above
Arbitration clause, the Courts at Gurgaon and the Punjab & Haryana High Court at
Chandigarh alone shall, have the exclusive jurisdiction in all matters arising out
of/touching and/or concerning this Agreement, to the exclusion of all other locations,
regardless of the place of execution or subject matter of this Agreement.

22.

That this Agreement has been prepared in Duplicate with Original Signatures of both the
parties and attesting witnesses and one original set has been kept by each party.

IN WITNESS WHEREOF, the parties hereto have set their hands to these presents on the day,
month and year first above written.

WITNESSES:
1.

SIGNED & DELIVERED

For & on behalf of Developer

Nandita Chauhan
Authorised Signatory
2.

SIGNED & DELIVERED by the Investor

(____________________)

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