General Terms & Conditions
Broadway City (UK) Limited, registered & incorporated in the United Kingdom under Registration Number 13538415, is the Master Vendor acting on behalf of Milestone Properties Pvt Limited (the “Developer/Seller”) and are authorized to promote, advertise, market, sell and receive deposits & instalment payments on behalf of the Developer/Seller for the sale of Plot(s) in the Broadway City, Gwadar with NOC Number 47/06/HS/GDA
1) Freehold of plot(s) in the Broadway City, Gwadar, Pakistan are to be sold on first come first serve basis.
1.1) Buyer(s)/Investor(s) will be able to select and reserve any number of available plot(s).
2) Confirmation of purchase of the selected plot(s) and provisional allotment letter will be issued following receipt of:
2.1) Cleared funds, amounting to 30% of each plot’s purchase price.
2.2) Completed and duly signed Reservation agreement.
2.3) Counter signature of the Developer/Seller/Master Vendor on the Reservation agreement.
3) Preferential Plot(s)’ features such as Location, Corner Plot, Park Facing, West Open and/or Boulevard Facing attracts an additional 10% premium for each category.
3.1) In case of multiple Plot(s) categories, the Buyer/Investor will pay 10% premium for each category in addition to the total cost of the plot(s).
3.2) In case of extra area (over and above the allotted area) with any plot(s), proportionate extra amount will be charged in addition to the total amount. Likewise, in case of lesser area, proportionate amount will be adjusted accordingly.
4) The Buyer(s)/Investor(s) shall be responsible for all taxes, fees or charges levied by federal government, local bodies and municipal bodies or any other authorities/agencies including those existing at present and those that may be levied by the above mentioned and/or other authorities in future.
5) The Developer/Seller and/or its Master Vendor will remove the confirmed plot(s) listing and will not attempt to re-sell the plot(s) following confirmation of the purchase.
5.1) The purchased plot number(s) will be allocated on Buyer(s)/Investor(s) credentials with Gwadar Development Authority (GDA) within Forty-five (45) days of the confirmation of Purchase.
5.2) Any registration / mutation charges shall be borne by the Buyer(s)/Investor(s) along with any other government tax in vogue.
5.2) An email confirming the allocation and “how to verify your Allocation with GDA” document will be sent to the Buyer(s)/Investor(s)’ nominated email address.
6) All payments to be made by Buyer(s)/Investor(s) shall, unless otherwise agreed, be made in Pound Sterling (GBP), be exclusive of bank charges, credit card charges and/or any other deductions.
6.1) Instalment payments shall be made by the 5th of each month using standing order, bank transfer and/or online at www.broadwaycity.co.uk.
7) Payments in full can be made in Pound Sterling (GBP) or Bitcoin (BTC), and:
7.1) a discount of 10% shall be deducted from the total value of the Plot(s).
7.2) a surcharge of 3% shall apply to all payments received in Bitcoin (BTC).
8) The Buyer(s)/Investor(s) is/are aware that any deposit payment and/or any subsequent instalment payments are non-refundable.
9) The Buyer(s)/Investor(s) agrees to pay all instalments in a timely manner, as per the payment plan, using standing order, bank transfer and/or online at www.broadwaycity.co.uk.
10) Instalments received after the due date will only be accepted with late fee at the rate of 1% per month, at the discretion of the Developer/Seller.
11) Failure to pay the instalments on time may result in cancellation of the purchase, in which case:
11.1) Buyer(s)/Investor(s) agree and acknowledge that the Developer/Seller reserves the right to cancel the purchase at its sole discretion.
11.2) Buyer(s)/Investor(s) also acknowledge that any payments already made will be forfeited and will be non-refundable.
11.3) Developer/Seller reserves the right to sell cancelled plot(s) to any other applicant or person.
11.4) Developer/Seller’s decision in this regard shall be final.
11.5) In case any funds (other than the instalment amounts) are available with the Developer/Seller, the same can be credited by the Developer/Seller with the equivalent amounts to recover any outstanding payments.
12) Plot(s) cannot be transferred or resold until the purchase price amount has been paid in full.
12.1) A transfer fee of 3% of each plot(s) purchase price will be charged on all transfers (resales) by the Developer/Seller.
12.2) All registration /mutation charges shall be borne by the Buyer(s)/Investor(s).
12.3) The Developer/Seller does not commit to or is liable to resell the plot(s).
13) The Buyer(s)/Investor(s) undertakes:
13.1) that Plot(s) will only be used for its/their intended and approved purpose(s).
13.2) that under no circumstances the Plot(s) and/or the amenities will be misused.
13.3) that he/she will not encroach any area/land beyond his/her Plot(s).
13.4) to observe easement rights of its adjoining neighbours, other residents of the project and of the Developer/Seller.
13.5) that only the pre-approved elevation by the Developer/Seller for a given plot will be constructed on the plots.
13.6) that no further construction or modification to any construction(s) will be done without the prior written approval of the Developer/Seller.
14) The development charges are payable separately to the purchase price of each Plot(s) as of the GDA framework policy and are calculated at the rate of £26 per square yard
14.1) The Developer/Seller reserves the right to cancel the plot if the Buyer(s)/Investor(s) fails to pay the development charges on time and such cancellation will lead to the forfeiture of all paid funds (Plot Instalments and/or Development Charges). Furthermore, if any invoice(s) for development charges remain unpaid by the Buyer(s)/Investor(s), any payments made by the Buyer(s)/Investor(s) will be allocated towards the development charges until all overdue development charges are cleared.
14.2) The development charges include the charges of internal development works which are for roads, footpaths, water supply, sewers, drains, parks, tree planting, street lighting, solid waste management and disposal, water conservation, energy management, fire protection, fire safety requirements and mosque as per sanctioned plans.
15) The Buyer(s)/Investor(s) must take possession of the Plot(s) within a period of 3 months from the hand-over notice in writing from the Developer/Seller, failing which shall lead to the cancellation of the Plot(s).
16) The Buyer(s)/Investor(s) confirms their funds have come from legitimate means. On some occasions, we may also ask you to provide source of funds to satisfy our compliance and legal requirements.
17) Upon receipt of all payments, including but not limited to plot purchase price, development charges and any other charges mutually agreed upon; the Buyer(s)/Investor(s) will be issued the Plot Confirmation Agreement as confirmation of Final Plot Allotment, within a maximum of 90 working days from the date of receipt of all payments and submission of the required documents to the Developer/Seller.
18) The agreed purchase price is dependent on the first instalment (30% for payment plan & 100% for cash plan) being paid on time, whilst signing this reservation agreement. In the event that this reservation agreement is cancelled by the Buyer(s)/Investor(s) or the first instalment has not been cleared, as per the aforementioned ‘Cash/Payment Plan’ from the date of this agreement’s signing; the full Allocation fee will be retained by the Developer/Seller and/or Appointed Marketing Agent to cover administration costs
19) This Reservation Agreement and the transaction contemplated herein are a personal contract between the Developer/Seller and Buyer(s)/Investor(s) and therefore no third party shall assume any liability or give warranty for the proper performance of the obligations hereunder. Any changes to the terms or payment obligations under this agreement must be agreed in writing by both parties which shall be further communicated by the Developer/Seller to the Buyer(s)/Investor(s)’ registered email address(es) through admin@broadwaycity.co.uk
20) It is expressly understood and agreed that the Buyer(s)/Investor(s) have conducted their own due diligence before entering into this agreement. The Buyer(s)/Investor(s) acknowledge and agree that no representations were made which are not set out in this agreement but that, if any were made, he/she has not relied on, or been induced to enter into this agreement by, any information, statements, warranties or representations of any description, whether written or oral, made, supplied or given by or on behalf of the Developer/Seller or Broadway City UK Ltd in relation to the subject matter of this agreement or otherwise
21) This Agreement shall not, in any way whatsoever, constitute or create any right, title or interest in respect of the Plot(s) in favour of the Buyer(s)/Investor(s) until and unless all instalments have been made in full on their respective due dates in accordance with the terms of this Agreement. The Buyer(s)/Investor(s) hereby undertakes that it shall not be entitled to claim any rights in the Plot until it has made timely payment of all instalments, including development charges.
22) Neither the Master Vendor or any of its officers, directors, employees, or agents shall have any liability with respect to, and the Buyer(s)/Investor(s) hereby waives, releases, and agrees not to sue any of them upon, any claim for any special, exemplary, indirect, incidental, consequential damages, or any loss and damage whatsoever suffered or incurred by the Buyer(s)/Investor(s) in connection with, arising out of, or in any way related to, this agreement, or any of the transactions or matters contemplated by this agreement. In any event, the liability of the Master Vendor, its officers, directors, employees, or agents for any reason and upon any cause of action, regardless of the form in which it may be brought shall not exceed GBP 1/- (One Great British Pound).
23) Unless the Buyer(s)/Investor(s) notify the Developer/Seller and/or the Master Vendor that it intends to make a claim within three months of the date of this agreement, the Developer/Seller and/or the Master Vendor shall not be held liable on any account. The notice must be in writing and must identify the grounds for the claim in reasonable detail.
24) As this agreement is governed by all the local laws of Pakistan, relating to the transfer, construction, development, and dispute resolution in respect of the Plot(s) shall remain applicable and Buyer(s)/Investor(s) shall comply with them.
25) Any and all disputes, controversies, or claims arising out of or relating to this agreement and the Plot(s) shall be referred to and finally resolved by arbitration in accordance with the Laws of Pakistan. The seat, or legal place, of arbitration shall be Gwadar, Pakistan. The language to be used in the arbitral proceedings shall be English. The governing law of the agreement shall be the substantive law of Pakistan. The decision of the arbitration shall be final and binding on the parties.
Broadway City UK Ltd is registered with the Information Commissioner with registration number ZB274821. We will use information provided by you to provide the services requested. The information you provide will remain for the use of Broadway City UK Ltd and we do not disclose your details to any external third parties.
