In this post we will discuss about mutual settlement between parties and memorandum of settlement.
Smt. Suman v. M/s Jagran Developer and Anr
Complainant
Smt. Suman
Respondent
M/s Jagran Developer
In the present case, the complaint was disposed of, in the first hearing itself, through a final order from the concerned authority. The learned Counsel for the respondent had informed the concerned authority that both the parties to the dispute have arrived at a settlement dated 08.09.2018 and the memorandum of settlement has been submitted before the authority. The memorandum of the settlement is as follows :
- The respondent agreed that the complainant had booked 3 shops G-55,56,57 in Project Galleria, Kurukshetra Global City, Sector 29 Kurukshetra. The buyer’s agreement between the parties was executed on 19.03.2014.
- Both parties have agreed that a sum of Rs. 60,13,603/- has been paid by the complainant as part sale consideration.
- The complainant has also agreed to purchase the residential plot bearing no. B-283, measuring 503.32 sq. Yds., for a total value of Rs. 66,69,792/- inclusive of all basic EDC/IDC, PLC and other charges. The complainant also undertook to pay the balance amount of Rs. 6,56,189/- within 45 days from the date of the agreement.
- It was further agreed that all registration expenses and stamp duty shall be payable and borne by the complainant.
It was also agreed that the complainant shall handover all the original receipts of the agreement and the allotment letters etc. with regard to the said shops and the respondent would be absolutely free to sell the said shops.
ALSO READ- TRANSFER OF PROPERTY THROUGH GIFT DEED
- It was agreed that the amount paid by the complainant shall be adjusted towards the sale consideration of plot bearing no. B-283 and the complainant shall not raise any claim against such adjustments at any time. The agreement shall operate as a final settlement of accounts in respect of the shops.
- It was also agreed that the respondent will execute the conveyance deed in favour of the complainant after the adjustment of dues.
- It was further agreed that the complainant shall also bear the applicable taxes, cess, in respect of the said plot B-283 as demanded by the statutory authority in addition to the payment of balance sale consideration.
- It was agreed between the parties that the complainant has no right or title or nature of interest left with respect to the shops bearing G-56,57,58 and their allotment stands cancelled. It was further agreed that neither the complainant nor any person claiming under him shall raise any dispute against the respondent in the future.
- The complainant also undertook that he had not created any third party interest in any manner against the said shops, if anything is found contrary to what has been undertaken, in such a case the complainant shall be solely responsible to indemnify the first party against such claims.
- In view of the above-mentioned settlements, the complainant has withdrawn the complainant filed before the HRERA.
ALSO READ- ALL ABOUT FAMILY SETTLEMENT DEED
Accordingly, in view of the above-mentioned terms of the memorandum of settlement, the matter is disposed of.
This post was written by Aniket Rai.
You must take an expert advice from a good/top/best Family/Property/Will lawyer/Advocate before making a settlement and putting it onto the papers. A sound professional legal advice goes a long way in preserving your rights.
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