Terms & Conditions

These terms and conditions ("Terms") apply to the purchase and holding of non-possessory co-ownership rights in a unit offered, managed, and administered by the Developer through its authorised digital platform ("Platform").

Unless the context otherwise requires, the following terms shall have the meanings assigned to them below:
1. "Block Owner" means the person who has been allotted the proportionate non-possessory co-ownership Rights in the Unit under these Terms, and includes their lawful heirs, successors, and permitted assigns.
2. "Developer" means the person who owns, manages, and operates the Unit, and is authorised to create, allocate, manage, and administer the Right in the Unit in accordance with these Terms.
3. "Force Majeure" means any event or circumstance, or combination of events or circumstances, that is beyond the reasonable control of the Developer and which prevents, hinders, or delays the performance of its obligations under these Terms. Such events shall include, but not be limited to, acts of God, natural disasters, epidemics, pandemics, war, armed conflict, terrorism, civil commotion, riots, strikes or labour disputes, governmental orders, restrictions or regulations, failure of utilities or infrastructure, or any other event or cause, whether similar or dissimilar in nature, that could not have been prevented or mitigated through the exercise of reasonable diligence and prudence by the Developer.
4. "Right" means the non-possessory co-ownership interest in a Unit, representing a proportionate economic share in its rental income and any capital gains arising from the sale of the Unit, without any right of possession or occupation.
5. "Unit" means a residential apartment, office, commercial shop, or any other type of property offered by the Developer, within which the Block Owner holds the Rights in accordance with these Terms.
6. "Property Block(s)" means the proportionate share(s) of a Unit, comprising one or more Rights vested in that Unit.
Unless the context otherwise requires, references to clauses are to clauses of these Terms. Words importing the singular shall include the plural and vice versa, and words importing any gender shall include all genders. Unless otherwise expressly provided herein, all capitalised terms shall bear the meanings assigned to them in the Application Form. References to a person shall include an individual, company, partnership, or any other legal entity, and references to any law, regulation, or enactment shall include any amendment, re-enactment, or replacement thereof.
These Terms set out the rights and obligations of the Block Owner and the Developer in connection with the allotment of Property Block(s) in the Unit.
By making the payment and accepting these Terms, the Block Owner acknowledges and agrees that:
1. The Property Block(s) constitute a Right, entitling the Block Owner to a proportionate share in rental income and sale proceeds only;
2. These Property Block(s) do not grant any possession in or over the Unit; and
3. Exclusive possession, control, and management of the Unit for its operation, leasing, and sale shall vest in the Developer in accordance with these Terms.
The Block Owner confirms that all particulars and information provided in the Application Form are true, accurate, and complete, and no material fact has been concealed.
The Block Owner is allotted Property Block(s) in the Unit, and these Property Block(s) are purely monetary and limited to the Right of rental income and sale proceeds.
The number of Property Blocks purchased shall determine the Block Owner's proportionate share in rental income and sale proceeds.
The Block Owner acknowledges that the Property Block(s) are non-possessory in nature and do not confer any entitlement to possession, occupation, or physical access to the Unit. Possession, control, and management of the Unit shall at all times remain vested exclusively in the Developer.
The Block Owner acknowledges and agrees that the Developer or its authorised Management Company (defined below) is authorised with full, absolute, irrevocable, and irreversible authority to act on the Block Owner's behalf in all matters relating to the Unit and the Property Block(s), including but not limited to:
1. selling, leasing, and managing the Unit;
2. collecting, depositing, and distributing rent or other payments;
3. executing, renewing, or terminating tenancy or lease agreements;
4. managing all tenant, maintenance, and operational affairs; and
5. taking any lawful actions necessary to protect or administer the Block Owner's Property Block(s).
The Block Owner acknowledges that the authority hereinabove is binding upon him, his heirs, successors, and assigns. All acts lawfully undertaken by the Developer or its authorised Management Company (defined below) under this authority shall be deemed acts of the Block Owner and shall be fully binding. For the avoidance of doubt, the Developer shall not sell, mortgage, or otherwise alienate the Block Owner's Rights except in accordance with the sale and voting provisions set out herein.
The Block Owner shall be entitled to receive their proportionate share of rental income, after deduction of applicable management fees, taxes, and other charges, as determined by the Developer or the Management Company (defined below).
The Developer shall, under the authority, lease out and manage the Unit, collect and disburse rental income, and oversee all operational, tenant, and administrative matters.
The Block Owner acknowledges and agrees that rental income and sales proceeds are variable and not guaranteed, and may fluctuate depending on occupancy and operational factors.
All Property Blocks together collectively constitute the Unit, and the holders of such Property Blocks are the co-owners of the Unit in proportion to their respective shares.
Each Property Block shall remain fixed and non-transferable for a period of 1 year from the date of purchase ("Lock-In Period").
Upon expiry of the Lock-In Period, a 2-week sale window ("Voting Window") shall open, during which the Block Owners may vote in favour of the sale of the underlying Unit.
For the sale of the Unit to be approved, at least 51% of all Block Owners must cast their votes during the Voting Window. The Unit will be approved for sale if a simple majority or 51% of the votes are in favour of the sale.
Upon approval of the sale, the Developer, under the authority granted herein, shall market, negotiate, finalise, and execute the sale of the Unit on behalf of all Block Owners. The Developer shall use reasonable efforts to complete the sale; however, no specific timeframe is guaranteed for its completion. The Block Owner acknowledges and accepts that the timing of the sale, determination of the sale price, applicable deductions, and final distribution of proceeds shall depend on prevailing market conditions and shall be final, conclusive, and binding upon all Block Owners.
If the Unit is not sold following a Voting Window, the next Voting Window shall open every six (6) months thereafter, following the same procedure as defined above.
During the Voting Window, the voting process shall be conducted through the Developer's authorised Platform, with each Property Block carrying one vote.
Upon completion of the sale of the Unit, the net sale proceeds, after deduction of all applicable fees, taxes, and expenses, shall be distributed among the Block Owners in proportion to their Property Blocks.
Payment of rental income or sale proceeds to the Block Owner shall be subject to deduction of all applicable taxes, fees, levies, and other costs associated with the Unit, which the Developer shall be entitled to deduct and recover accordingly.
All disbursements of rental income or sale proceeds payable to a Block Owner under these Terms shall be made exclusively through the Platform and in the manner prescribed therein.
The Developer may appoint, assign, or delegate any or all of its obligations to a management company ("Management Company") to manage rent collection, sale and related administrative functions in respect of the Unit on behalf of the Block Owner. All rental proceeds shall be collected exclusively through the Management Company.
The Management Company shall act solely as a collection and facilitation agent for the Developer and the Block Owner, without acquiring any ownership, possessory, or beneficial interest in the Unit or the Property Blocks.
The Developer shall remain responsible for ensuring overall compliance with applicable tax laws and regulations in respect of the rental income derived from the Unit. All such compliance, reporting, and related filings shall be undertaken by or under the supervision of the Developer, through the designated online Platform.
The Block Owner acknowledges and agrees that the engagement, replacement, or modification of the role of the Management Company shall be at the sole discretion of the Developer, provided that such appointment does not adversely affect the Block Owners' entitlement to their Rights.
The Block Owner acknowledges and agrees that any financial illustrations, projected returns, or indicative figures provided in connection with the Unit are provided for illustrative and informational purposes only and do not constitute a representation, warranty, or guarantee of performance, income, or return. Actual results may vary based on market conditions, occupancy, expenses, and other operational factors.
The Developer represents and warrants that it holds full legal title, ownership, and authority over the Unit and has the lawful right to create and allot Rights in accordance with these Terms.
Any dispute arising from or in connection with these Terms shall first be attempted to be resolved amicably between the parties within thirty (30) days of written notice. If the dispute remains unresolved within this period, the matter may be referred to mediation through the Platform, and the parties shall decide the outcome through a written resolution following the mediation process.
The Block Owner acknowledges that their Rights are monetary in nature, and no Party shall seek or obtain injunctive or possessory relief under any law, including the Specific Relief Act, 1877, Order 39 Code of Civil Procedure Act, 1908 or any other law providing injunctive relief.
If any provision of these Terms is held to be invalid, illegal, or unenforceable, in whole or in part, such provision shall be deemed severed to the extent of such invalidity, illegality, or unenforceability, and the remaining provisions shall continue in full force and effect.
The Developer's obligations shall stand suspended, without liability, during any Force Majeure event.
Nothing contained herein shall be construed to constitute or be deemed a joint venture, partnership, association, or trust between the Block Owner and the Developer.