While dealing in an under construction property of a Group Housing Project, whether as a Company Sales Person, Channel Partner or even as a Developer certain Steps & Documents are very important for a smooth process.
We are listing here-under a few of these for your
knowledge purpose:
Along with booking amount you must take following documents so as to complete the booking documents set:
- Booking/Registration
Form: along with booking terms & conditions completely filled &
signed by client.
- Price List: with the price
at which he is purchasing circled & signed by client. If he is buying at a
price other than which is printed, than that price should be handwritten on
Price List circled & signed.
- Payment Plan: A company may
have different payment plans, so the one applicable to this deal should be
attached along with & signed.
- Booking Amount: A Cheque towards the booking amount, which is generally 10% of total
price, should be collected along with other documents.
Once this is done you are through
with the booking process and move on to the next steps of the process. Here one
thing very important to mention is that every payment received from customer
should be by adding 4% Service Tax. This has to be religiously deposited to
government at the end of month.
Booking Receipt
When we receive booking amount
make a Booking Receipt. In this Client is generally given a Unique Code in
company’s system and under that code Client’s file is started.
A receipt should be issued to
client for the Booking Amount received and that receipt contains information
like Client’s Name, His Father & Mother’s Names, His Contact Address, His
Permanent Address, Details of Nominee like Name; Relation; preferably Nominee’s
Signatures etc., Details of Payment Received: Cheque/DD No. (If Cheque/DD) or
Cash; Date, Amount, Unit Number (Here he is temporarily allotted a Unit Number
also).
Allotment Installment
The 2nd installment is
called the “Allotment Installment”. Here again a routine receipt for payment
received in issued.
But what is more important is
that, at this stage Buyer-Builder Agreement is signed between client &
developer. Two completely filled copies of the same should be given to client
for signing. Client signs both the copies attach his KYC documents with it and return
it back to company.
Than Authorized person of company
signs both the sets, after which one copy goes to Client & other to his
file.
P.S.: Each &
Every paper entering client file should preferably be signed by Client
Due Payment Intimation
Whenever a customer’s payment
becomes due as per the Payment Plan opted by him, compliance officer may be
with the assistance of his team, sends him an intimation.
After the intimation has been
sent by compliance officer, you should follow with client as well concerned
channel partner to get the payment within due time.
Cancellation of Booking
If the payment doesn’t come even after the passage of 90 Days (Again varies from company to company) than a cancellation letter should be sent to customer through Registered/Speed Post only. Under no circumstance should this be sent through Courier or ordinary post.
You should also intimate this to
client as well concerned channel partner.
Transfer Cases
Many a time’s clients will like to transfer their property in someone else’s name. For that you should have a properly worded & vetted by a Lawyer Transfer document. This Transfer Set on a Stamp Paper of Rs. 100 should be filled & signed by both Transferor & Transferee. Both will attach their KYC documents along with & get it notarized. On submission of this Transferor will have no rights over this property.
Cancellation
During the process many persons
will like to get the unit cancelled also due to some reason or the other. For
this also you should have a properly worded & vetted by an advocate
cancellation set. Any person willing to cancel a unit will fill it on a stamp
paper of Rs. 100. Than after submission of the same you should release him the
payment as per company’s policy.
Cancellation will be complete
once that person has refund amount in his account after which he will have no
right over the said property.
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