These Terms and Conditions are designed in accordance with Indian Government regulations, including the Real Estate (Regulation and Development) Act, 2016 (RERA), and reflect industry best practices for real estate builders in India.

1. Project Registration and Compliance

• • All Multistar Builders LLP projects are registered with the respective State RERA authority.

• • Complete project details, including land title, approvals, layout plans, and timelines, are disclosed as per RERA requirements.

• • Any changes to project plans or specifications will be communicated and require the consent of two-thirds of allottees, as mandated by law.

2. Booking and Payment Terms

• • A maximum of 10% of the total property cost may be collected as advance before executing a written agreement for sale.

• • The payment schedule, including milestones and due dates, is specified in the Builder-Buyer Agreement.

• • All payments must be made as per the agreed schedule. Delays may attract interest as per the agreement.

3. Possession and Delivery

• • The expected date of possession is clearly mentioned in the agreement.

• • In case of delay in possession, compensation will be provided as per RERA guidelines.

• • If possession is delayed beyond the agreed timeline (excluding force majeure events), buyers are entitled to compensation or refund as per the agreement.

4. Construction Quality and Defect Liability

• • Multistar Builders LLP commits to delivering the property as per approved specifications and quality standards.

• • Any structural defects or poor workmanship reported within five years of possession will be rectified at no additional cost to the buyer.

5. Project Funds and Escrow

• • At least 70% of the funds collected from buyers are deposited in a dedicated escrow account, used exclusively for project construction and land costs, as per RERA regulations.

6. Cancellation and Refund Policy

• • Buyers may cancel the booking as per the terms specified in the agreement. Refunds, if applicable, will be processed after deducting cancellation charges as outlined in the agreement.

• • In case of project cancellation by the developer, a full refund with applicable interest will be provided.

7. Maintenance and Handover

• • Maintenance charges and society formation procedures are detailed in the agreement.

• • Handover of common areas and amenities to the society/association will be completed as per RERA guidelines.

8. Dispute Resolution

• • Any disputes arising out of these terms will be subject to the jurisdiction of the Real Estate Regulatory Authority (RERA) and the courts of the project’s location.

• • Buyers may file complaints with RERA for grievances, and the authority will resolve the matter within 60 days.

9. Buyer Responsibilities

• • Buyers must comply with payment schedules and provide necessary documentation for registration and possession.

• • Any alterations or modifications to the unit require prior written approval from Multistar Builders LLP and relevant authorities.

10. Legal Compliance

• • All transactions, agreements, and project activities are governed by Indian law, including RERA and other applicable regulations.

• • Multistar Builders LLP ensures transparency, timely updates, and compliance with all statutory requirements.

Note:
These Terms and Conditions are subject to change as per updates in Indian real estate laws and regulations. Buyers are advised to review the Builder-Buyer Agreement and consult legal counsel before entering into any transaction.

Omarun is a premier luxury real estate developer specializing in iconic residential and mixed-use projects in Dubai.