1. Parties Involved & Agreement Scope
This agreement is entered into between Mainak Group (hereinafter referred to as "The Developer/Company") and the Buyer/Investor (hereinafter referred to as "The Purchaser") for the purchase of property in Dholera Smart City, Gujarat.
The terms outlined herein govern the sale, purchase, and development of properties including residential plots, commercial spaces, and industrial units within the Dholera Special Investment Region (DSIR). All properties are governed by the Gujarat Special Investment Region (SIR) Act, 2009.
2. Property Description & Specifications
The property details are as follows:
- Location: Dholera Smart City, Gujarat, India
- Project Name: Mainak Dholera City Project
- Plot/Space Number: As per allotment letter
- Total Area: As per sale deed (sq.yds/sq.mtrs)
- Property Type: Residential / Commercial / Industrial
- DSIR Approval: All properties are approved by Dholera Special Investment Region Authority
- Title Status: Freehold with clear title
- TP Scheme: As per Town Planning Scheme (TP1 to TP6)
- Zone: Residential / Commercial / Industrial / Green Energy Zone
The property dimensions, boundaries, and specifications are detailed in the approved layout plan and sale deed.
3. Purchase Price & Payment Terms
The total consideration for the property is as per the agreement signed between parties:
- Total Purchase Price: As per the current rate card and agreement
- Booking Amount: 10% of total property value (non-refundable)
- Down Payment: As per payment schedule
- Installment Plan: Flexible payment options available
- Payment Methods: Cheque, Demand Draft, RTGS, NEFT, Online Transfer
- Late Payment Penalty: 18% per annum on overdue amount
- GST & Taxes: As applicable (currently 5% for under-construction properties)
- Registration Charges: 4-6% of property value (buyer's responsibility)
- Stamp Duty: As per Gujarat government rates (4.9% for men, 4.9% for women)
- DSIR Development Charges: As applicable
4. Key Dates & Project Timeline
- Agreement Date: Date of signing this agreement
- Booking Date: Date of booking payment
- Project Commencement: As per development schedule
- Expected Possession: As per phase completion timeline (12-30 months from booking)
- Registration Date: Within 30 days of full payment/possession
- Grace Period: 6 months for unforeseen delays (force majeure)
- Dholera Airport Operational Date: December 2025 (Phase 1)
- Expressway Completion: May 2025 (Ahmedabad-Dholera Expressway)
Mainak Group is committed to timely delivery and will provide regular project updates to all investors.
5. Development & Infrastructure Commitments
Mainak Group shall develop and provide the following infrastructure within the project:
- Internal Roads: Wide concrete roads with street lighting (72 km in Activation Area)
- Water Supply: 24/7 water connection from DSIR (50 MLD WTP operational)
- Electricity: Underground power cabling with smart meters (220/33kV substation)
- Sewage System: Underground drainage network (10 MLD STP operational)
- Green Spaces: Landscaped gardens and parks
- Security: Gated community with CCTV surveillance
- Common Amenities: Clubhouse, community hall (in select phases)
- Underground Utilities: 100% underground power, water, telecom corridors
- Smart Infrastructure: Integrated Command and Control Centre (ICCC)
Development will be carried out as per DSIR approved master plan and layout.
6. Legal Compliance & Approvals
The Developer confirms that the project has obtained all necessary approvals:
- Dholera Special Investment Region (DSIR) Approval
- NA (Non-Agricultural) Permission from Government of Gujarat
- RERA Registration (if applicable)
- Environmental Clearance from MoEF
- Building Plan Approval from DSIR Authority
- All necessary utility approvals (electricity, water, sewage)
- Gujarat Infrastructure Development Board (GIDB) approvals
- National Industrial Corridor Development Corporation (NICDC) compliance
All documents are available for verification at our office.
7. Title, Ownership & Transfer
- The Developer guarantees clear and marketable title to the property
- Title verification can be done by buyer's legal counsel
- Ownership transfer shall be executed through registered sale deed
- Registration will be done at the Sub-Registrar Office, Dholera
- Possession certificate will be provided upon full payment and registration
- Maintenance charges applicable after possession as per society norms
- Property tax to be paid by owner after possession
8. Force Majeure & Unforeseen Events
Neither party shall be liable for delays or failures in performance resulting from:
- Acts of God (earthquakes, floods, cyclones, pandemics)
- Government actions, policy changes, or regulatory delays
- War, terrorism, civil unrest
- Labor disputes or material shortages
- Any other event beyond reasonable control
In such events, timelines will be extended reasonably, and both parties shall cooperate to complete the transaction.
9. Default & Breach of Contract
By Buyer:
- Failure to pay installments within 30 days: 18% interest penalty
- Default beyond 90 days: Booking amount forfeited, cancellation of allotment
- Legal action may be initiated for recovery of dues
By Developer:
- Delay in possession beyond grace period: Compensation as per RERA norms
- Option for buyer to cancel with full refund (excluding interest)
10. Dispute Resolution & Jurisdiction
- Any disputes shall be resolved through arbitration as per Arbitration and Conciliation Act, 1996
- Arbitrator shall be appointed by mutual consent
- All legal proceedings shall be under the jurisdiction of Courts in Ahmedabad, Gujarat
- Governing law: Laws of India
11. Modification of Terms
Mainak Group reserves the right to modify these terms with prior notice to investors. Any changes will be communicated in writing and will not affect already executed agreements.
12. Acceptance & Signatures
By making the booking payment and signing this agreement, the Buyer confirms:
- Having read and understood all terms and conditions
- Having verified property details and approvals with DSIR
- Agreeing to abide by the terms herein
- Authorizing the Developer to process the transaction
- Having conducted due diligence on Dholera Smart City project