The Online Sale Expo is meant only for Ready Properties with Occupation Certificate / Building Completion Certificate, located anywhere in India.
All Developers (Members of any Association such as NAREDCO, CREDAI, MCHI-CREDAI, BAI and other Associations or non-members can participate). RERA Registered projects with OC or BCC applied may also participate by submitting relevant documents.
The Developer agrees that he/she shall display all information in a transparent manner for a buyer to book online with or without visiting the property and shall not withhold any information from the buyer.
The Developer agrees not to levy any charges or cost to the buyer other than what is listed on the platform, to ensure 100% Transparency and to promote Faith in the Developers by buyers.
Offers by Developer can be project specific or even unit specific but must be mentioned in the system for buyers to know and understand and book.
The Developer agrees that he will not be able to increase the price for any unit or project listed for sale until end of the official Sale period.
The Developer agrees to update the inventory on the system on real time basis if the unit is blocked or sold, before or during the Sale period.
The Developer agrees to pay in advance, the one-time Project Listing Fee as per the Chart (Per RERA Registered project) for each project listed.
The Developer agrees to pay, the Transaction Fee as per the Chart (Per Unit) per Sale during this event or within 7 days of Registration of the Property.
The Developer agrees to pay, the Voucher Amount (or cashback to customer) as per the Chart (Per Unit sold) during this event or after immediately to facilitate the same be transferred to the buyer.
The Developer agrees to offer one of the optional offers mentioned in the Chart below for every purchase.
In case the Channel partners also participate by bringing leads and walk-ins and require their customers to get the platform benefit, then the Broker/ CP will be eligible for only 1% as commission which shall be paid by the Developer.
The Benefits listed for the buyer are available only if the Sale is facilitated through this e-commerce portal.
The Developer agrees that the booking amount paid on line by the prospective buyer shall be kept in an account by NAREDCO until the transaction is completed by the prospective buyer or withdrawn by the prospective buyer and then either refunded to the prospective buyer in case of cancellation or credited to the developer in case of confirmation.
The Developer agrees to encourage prospective buyers to book through this platform to promote the industry and the sentiments, which helps to instill a sense of confidence in the buyers about the Developers and their delivery.
The Developer agrees not to discourage buyers from booking through the platform, by offering discounts in lieu of the benefits to the buyers offered through this Sale, which will be considered a breach of integrity by the Developer, since this will go against the principle of transparency that the Industry bodies and Government is trying to advocate.
The Developer agrees to update any or all sales done through this event promptly and in the event, he omits any sale and the customer updates the platform to claim benefit, the same shall be construed as Sale done in this event and all rules shall be applicable to the Developer and the same shall be complied with.
The Home Loan by Banks / HFIs availed for sale during this event may include a cash back of 0.4% (or as offered by the bank) to the borrower. In case, there is any agreement between the Developer and Banks, then the same shall not be applicable to the Developer from the Bank / HFI on these units (restricted to the units sold in this sale only)
The Developer agrees to take actual picture and a video and upload the same on the platform to enable buyers to get a view of the actual property being sold.
The Developer agrees to upload the OC/BCC, add all required documents for the buyers to view before booking online.
All GST as applicable on the participation fee is payable by the Developers.
The cost to the Developer has been kept as minimum to encourage all Developers to participate and benefit. Hence, the Developer agrees to pay all amounts with sincerity and integrity and on time, to enable this collective, co-op marketing be done as envisaged for successful implementation.
The Developer agrees that in case of any dispute in the transaction between the buyer and the Developer, the Dispute Resolution Committee decision is binding on the Developer.
The Developer understands and agrees that this is a joint effort by the Associations, Banks and Sponsors to prop up the industry and sentiments and to generate immediate cash flow for the Developers.
The Developer agrees that this initiative proposed by the Ministry of Housing & Urban Affairs is to help revive the Real Estate sector across India and to promote transparency and to create consumer confidence amongst the Developer. And that the developer is participating in the same spirit.
If any liability arises due to dispute between buyer & developer, NAREDCO will not be held responsible. The same disputes are subject to the resolution of the respective state RERA authority.