THESE PARTICIPATION TERMS (“TERMS”) IS AN ELECTRONIC RECORD IN TERMS OF THE INFORMATION TECHNOLOGY ACT, 2000 AND RULES MADE THEREUNDER. THIS ELECTRONIC RECORD IS GENERATED BY A COMPUTER SYSTEM AND DOES NOT REQUIRE ANY PHYSICAL OR DIGITAL SIGNATURES.
THIS DOCUMENT IS PUBLISHED IN ACCORDANCE WITH THE PROVISIONS OF RULE 3(1) OF THE INFORMATION TECHNOLOGY (INTERMEDIARIES GUIDELINES AND DIGITAL MEDIA ETHICS CODE) RULES, 2021 THAT REQUIRE PUBLISHING THE RULES AND REGULATIONS, PRIVACY POLICY AND USER AGREEMENT FOR ACCESS OR USAGE OF THIS PLATFORM.
These Terms apply to the use of the website , and its mobile-optimized version and other media formats (collectively referred to as the “Platform”)
The Platform is owned by Letwizard Technologies Private Limited (including its parent company, subsidiaries, employees, officers, agents or affiliates), a private limited company incorporated under the provisions of the Companies Act 2013, with the registered office at Flat No. G1, Mirza Heights, AC Guards, Saifabad, Hyderabad, Telangana, 500004 and holding CIN: U72900TG2022PTC164674 (hereinafter referred to as the “Company”). The Company is engaged in the business of providing a facilitation and marketplace Platform for listing, buying and selling of immovable properties in India and provides insights based on analytics done through proprietary tools.
NOTHING CONTAINED ON THE PLATFORM SHOULD BE CONSTRUED AS AN AUTHORIZATION BY THE SECURITIES AND EXCHANGE BOARD OF INDIA (“SEBI”) TO SOLICIT INVESTMENTS NOR SHOULD THE PLATFORMS BE CONSTRUED AS A SEBI AUTHORIZED PLATFORM OR A STOCK EXCHANGE, OR THEIR EQUIVALENT. THE PLATFORM IS MERELY FOR FACILITATION PURPOSES AND WE DO NOT SEEK TO SOLICIT INVESTMENTS OR PROVIDE ANY FINANCIAL OR PROPERTY RELATED ADVISE.
1. Definitions: For the purposes of these Terms, wherever the context so requires, the term:
1.1. "Bidding"shall mean an event of bidding created on the Platform by the Seller to receive bids/expression of interest from potential Buyers in relation to a Property listed on the Platform by such Seller.
1.2. “Bidder" or “Buyer” shall mean any Person who, for the purposes of purchasing a Property listed on the Platform, participates in Bidding or expresses interest in purchasing any Property.
1.3. “Buy-Now Price” means the variation of a Bidding, in which the Seller links its sale offer price for a Property to a fixed price.
1.4. "Offer” or “Bid” ” shall mean the bid submitted by a Buyer for a Property listed on the Platform towards a Bidding event being hosted on the Platform.
1.5. “Open Price” shall mean such minimum or starting price/amounts for a Property with which the Bidding of a Property shall start on the Platform.
1.6. "Accept - Reject"shall mean the Landlord/Property Lister’s option to accept or reject any Bid until the Reserve Price is met on the Platform.
1.7. "Auto Accept"shall mean the system-generated auto acceptance of a Bid under the auto acceptance terms and conditions on the Platform.
1.8. Auto Rejectshall mean the system-generated auto rejection of a Bid under the auto rejection terms and conditions on the Platform.
1.9. "Participation Security” means a non-interest-bearing amount (which is refundable subject to the terms herein) payable by the Users towards participating in any Bidding conducted on the Platform, as may be required by the Platform (Refer to Listing Terms, Fees, Charges, Security)
1.10. "Participation Security Default""Participation Security Default" shall mean the forfeiture of a non-interest-bearing security amount, initially refundable under the terms herein, payable by Users for the privilege of participating in Platform-conducted bidding. Should a bidder or seller fail to complete the settlement within forty-five (45) days following a successful bid or as per the specific listing terms and conditions, this security amount shall be retained by the Platform to cover the costs incurred due to the default. (Refer to Listing Terms, Fees, Charges, Participation Security).
1.11. “Platform Fee” The "Platform Fee" is a non-refundable fee paid by both the seller and the buyer to LetWizard for any successful sale, as detailed in the "Fees, Charges and Security" section (Refer to Listing Terms, Fees, Charges, Participation Security).
1.12. “Person” means any natural person (whether resident or non-resident of India), limited or unlimited liability company, corporation, partnership (whether limited or unlimited), proprietorship, Hindu undivided family, trust, union, association, society, co-operative society, government or any agency or political subdivision thereof or any other entity that may be treated as a person under applicable laws of India including any real estate brokerage firm or agents.
1.13. “Property” shall mean the immovable property(ies) listed by the Seller to sell on the Platform.
1.14. “Reserve Price” shall mean a predetermined minimum price agreed between the Seller and the Platform, at which the Property is to be sold through the Bidding process. The Reserve Price is confidential between the Platform and the Seller and will not be provided to Buyers. If any Offer is over the Reserve Price, Users will be notified that the Reserve Price of the Property has been met.
1.15. “Seller” shall mean any Person who, for the purposes of selling a Property, lists the Property on the Platform and creates a Bidding event for potential Buyers and Bidders to participate. A Seller may also be a real estate brokerage agent or firm.
1.16. "Successful Bidder” shall mean such Bidder whose Bid has been accepted by the Seller of the Property on the Platform.
1.17. “User/s” or “you” or “your” shall mean the Buyers/Bidders and Sellers.
2. CONSENT
2.1. Please read the Terms carefully. In order to use the Platform, the User shall first agree to the Terms. The User can accept and provide its consent to the Terms by:
2.1.1. accessing, browsing or otherwise using the Platform, or any other websites or applications of the Company that links to these Terms;
2.1.2. accessing any content on the Platform;
2.1.3. logging into or registering with the Platform in the manner indicated herein; or
2.1.4. actually using the Platform and its features, services, offerings.
2.2. You represent that you have read and understood the terms and conditions specified in the Terms and thereby expressly agree to be bound by the Terms.
2.3. If you do not agree with the Terms mentioned herein, please exit this Platform and restrict your access. You agree and understand that the Platform and its content is owned by the Company or its licensors, if any.
2.4. It is hereby clarified that “you” shall also include and refer to the User’s principals, legal representatives, assigns, agents, and affiliates.
2.5. You hereby understand and agree that the Platform conducts Bidding solely on behalf of Seller, and is not acting as an agent, legal representative or power of attorney holder for any User in any capacity whatsoever while providing the services on and through the Platform. By registering for a listing or submitting an Offer or conducting a Bidding event on Platform, the User acknowledges and agrees to having read and accepted these Terms.
2.6. The acceptance of the Users to these Terms hereby has allowed the Platform the authority to collect the Participation Security amount on their behalf and hold it until the Bidding process is concluded or the fulfillment of the User’s contractual obligations towards each other pursuant to such Bidding.
2.7. Further, by submitting an Offer on a Property, Bidder is deemed to have accepted any additional terms and conditions posted on the Property’s details page on the Platform at the time the Offer was submitted.
2.8. In case of conflict between these Terms and any other agreement that you may enter into with the Company and any other Property terms and conditions, the interpretation placed by the Company shall be final and binding on you. It is hereby clarified and agreed that any independent terms of transaction undertaking for actual sale or purchase of Property inter se the Successful Bidder and Sellers are independent to this Platform.
2.9. You understand and agree that the Company reserves the right, at its sole discretion, to change, modify, add or remove portions of these Terms at any time without any prior notice to you and may notify you whenever there is a change in the Terms, may be by email or post a conspicuous notice on the Platform in the event of any revisions to these Terms. Your continued use of the Platform following the posting of changes shall be deemed to mean that you accept and agree to the revisions. As long as you comply with these Terms, the Company grants you a personal, non-exclusive, non-transferable, revocable, limited privilege to access and use the Platform.
2.10. You should read these Terms and access and read all further linked information, if any, referred to in these Terms, as such information contains further terms and conditions that apply to you as a User of the Platform. Such linked information including but not limited to the Company’s general terms and conditions, Company’s privacy policy is hereby incorporated by reference into these Terms.
3. MEMBERSHIP ELIGIBILITY
3.1. Use of the Platform is available only to Persons who can enter into legally binding contracts under the Indian Contract Act, 1872. Persons who are “incompetent to contract” within the meaning of the Indian Contract Act, 1872 including minors, un-discharged insolvents and persons of unsound mind are not eligible to use the Platform.
3.2. Any individual Person under the age of 18 shall not register on the Platform and shall not transact on or use the Platform. If any minor wishes to use or transact on the Platform, such use or transaction may be made by the minor’s legal guardian or parents on the Platform. Any minor accessing, using or transacting on the Platform in violation of these Terms shall be doing so at their own risk and the Company shall not be responsible or liable for any activities or interactions of such minor on the Platform.
3.3. The Company, at any time, reserves the right to terminate any Person’s membership and/or refuse to provide such person with access to the Platform if it is brought to the Company’s notice or if it is discovered that such Person is not eligible to use the Platform.
3.4. Those who access the Platform from outside India are responsible for compliance with local laws, if and to extent local laws are applicable. The Company shall render its services within India (“Territory”) and shall not be liable to perform any services outside the Territory.
3.5. The Platform also allows the real estate brokerage agents and firms to participate in the Bidding on the Platform subject to the terms and conditions prescribed herein.
4. ACCOUNT CREATION AND REGISTRATION PROCESS
4.1. Any Person, including a legal person, resident or non-resident of the India, desiring to purchase Property on the Platform, whereas any Person, including a legal person desiring to sell a Property of its own or on behalf of the original owner of the Property within India on and through the Platform, can be registered as a User on the Platform and shall provide all the required information as per the prescribed manner.
4.2. All Users shall have the legal capacity and full power as well as authority to execute, deliver and perform these Terms and nothing prohibits/restricts the right or ability of the Users to carry out the terms hereof.
4.3. Registration by the User on the Platform is mandatory for the User to proceed use and utilization of the Platform.
4.4. Following the verification by the Company and upon analyzing the information provided by the User, the Company shall, at its discretion, proceed to allow (i) the Seller to list and sell Properties on the Platform; and (ii) the Buyer to participate in a Bidding event and purchase the Properties listed on the Platform, through an account created on the Platform. The Company reserves the right to determine which real estate brokerage firms or agents may be allowed to list and sell their respective Properties on the Platform. The User further agrees that the Company reserves the right to decline to register the User on its Platform at its sole discretion. At no point in time can the User challenge the Company’s decision to not allow the User to register on the Platform.
4.5. While registering with the Company and creating the account, the User shall not:
4.5.1. create an account for anyone other than the User, unless such Person’s prior permission has been obtained and proof of such permission has been submitted to the Platform;
4.5.2. use an account that is in the name of another Person with the intent to impersonate that Person;
4.5.3. use a name for the account on the Platform that the User is not legally authorized to use; and
4.5.4. create more than one account on the Platform.
4.6. The Company be entitled to refuse registration for such User or suspend or revoke or terminate the account of such User and the Company shall not be liable for any loss or damage arising from the User’s failure to comply with this Clause.
4.7. Once approved by the Company, in order to log into the account on the Platform, the User will be required to provide the e-mail address and password used at the time of registration (“Login Credentials”). The User, upon being approved to act as a ‘Seller’ or ‘Buyer’ on the Platform, will be provided access to a dashboard (linked to the account) which shall contain details of all transactions undertaken by the User through the Platform.
4.8. For the purpose of these Terms, the term “Buyer” refers to such Users who uses the Platform to purchase Property listed on the Platform. The term includes but not limited to any User/Bidder participating in Bidding, irrespective of actual purchase of Property. The term “Seller” refers to such Users who uses the Platform for selling the Property on Platform, irrespective of the ownership of the Property.
4.9. A one-time registration on Platform is sufficient for both Buyers and Sellers. There cannot be more than one account registered in the name of the same User. Any attempt to create a duplicate account shall entitle the Platform to automatically remove the User’s account with immediate effect after verification and without any prior notification. The Platform holds no responsibility whatsoever for any loss caused due to the termination of an account based on such reasons.
4.10. Once the User has registered with Platform, they may seek amendments/modifications of personal information by writing to the team via a written request on
4.11. The User agrees that the information provided by the User to the Company, at all times (including during registration), will be true, accurate, up-to-date, and complete. Users hereby agree to hold sole responsibility of all the information provided on their account on the Platform, including but not limited to personal information, image files, video files and any other uploaded documents. The User further agrees that if the User provides any information that is untrue, inaccurate, not up-to-date or incomplete or becomes untrue, inaccurate or incomplete or if the Company has reasonable grounds to suspect that such information is untrue, inaccurate, not up-to-date, incomplete or not in accordance with the these Terms, the Company shall have the right to indefinitely suspend or terminate or block access to the account on the Platform and refuse to provide the User access to the Platform. The User is advised to use due caution and ensure compliance with applicable laws when providing any information to the Company accordingly.
4.12. Furthermore, Users hereby agree to indemnify the Company from all liabilities arising directly or indirectly from any incorrect information submitted to the Platform and agree that the Company will not be held liable for any false/fake document/information uploaded by User on the Platform. However, the Company does reserve the right to take any legal action against such User for uploading fake/false documents at any time, without prior notification.
4.13. The User understands that once the User registers on the Platform, the User may receive multimedia text messages as SMS, WhatsApp, Facebook messenger, Instagram, Telegram and phone calls from the Company on the registered mobile number and other third party websites/modes provided at the time of registration and the User may receive e-mails on the User’s registered e-mail address. These messages, e-mails and calls could relate to the User’s registration, transactions that the User carries out on the Platform and promotions that are undertaken by the Company. The User by way of accepting these Terms consents to the receipt of such communication from the Company.
4.14. If Users are using a spam filter that blocks or re-routes SMS from senders not listed in their contacts or the emails sent by Platform are received in the spam folder, it is the User’s responsibility to ensure that such SMS/emails are marked as ‘not spam’. The Company holds no responsibility if Users do not receive the notifications or OTPs due to the following reasons:
4.14.1. The mobile number/email address on file is incorrect or out of date.
4.14.2. If your service provider blocks communications from the Platform/Company or Users are otherwise unable to receive SMS due to incoming restrictions.
4.14.3. Use of spam filters/receiving emails in the spam folders.
5. DOCUMENTATION FOR REGISTRATION AND ACCOUNT CREATION
5.1. Before or while registering on the Platform and creating an account, all information/documents requested by the Company will have to be provided in order for the User to proceed towards registration on the Platform, which are as follows:
5.1.1. For all Users:
a. Documents/information required if User is an individual resident in India
i. Any valid photo ID card issued by the Government of India including a Aadhaar card, Driver’s license card.
ii. For non-Indian individuals or company, national ID provided by the local governmental authorities.
iii. Any valid ID card evidencing proof of address issued by the Government of India including Aadhaar card, driver’s license card, voter’s ID, ratio card, domicile certificate.
iv. Copy of valid PAN (Permanent Account Number) card or e-PAN issued by the Government of India for recording financial transactions of an amount exceeding INR 10 lakh or valued by stamp valuation authority at an amount exceeding INR 10 lakh.
b. Documents/information required if User is an individual of Indian citizenship but residing outside India such as NRIs.
i. documents All mentioned in column (a) above.
ii. A valid Indian passport. If not, submit a document evidencing their Indian origin.
iii. Overseas Citizen of India (OCI) card.
iv. Proof of foreign visa status or current residential address.
v. A power of attorney to represent such NRI individuals in case of absence for performing transactions in India.
c. Documents/information required if User is a company registered under the provisions of the (Indian) Companies Act, 2013
i. Incorporation documents including certificate of incorporation issued by the Ministry of Corporate Affairs of India, articles of association of the company, memorandum of association of the company.
ii. Company Identification Number (CIN)
iii.Copy of valid passport/photo ID card/PAN/e-PAN issued by the Government of India for the authorized signatory/director who represents the company.
iv. Board resolution passed by the board of directors (on company letterhead and stamped) and power of attorney (POA) authorizing the authorized signatory/director to represent and transact on behalf of the company in relation to the Property.
d. Documents/information required if User is a sole proprietorship
i. Commercial/Trade license issued by the State Government where the place of business is located.
ii.Copy of the PAN/e-PAN issued by the Government of India.
iii.All the documents relating to the owner of the sole proprietorship in his/her individual capacity as listed out in sub-column (a) above.
e. Documents/information required if User is partnership firm or limited liability partnership (LLP)
i. Incorporation documents including certificate of incorporation issued by the Ministry of Corporate Affairs of India in case of an LLP and registered partnership deed as per the provisions of the Indian Partnership Act, 1932.
ii. LLP Identification Number (LLPIN)
iii. List and details of all partners/designated partners
iv. Authorization letter passed by partners/designated partners (on firm/LLP letterhead and stamped) authorizing the User to act on their behalf
v. All the individual details of the User so authorized as per sub-column (a) above.
f. Documents/information required if User is a power of attorney (POA) holder
i. Copy of a valid POA acceptable under the applicable laws of India.
ii. If Buyer is a POA holder outside India, legalization of the POA from Indian embassy/consulate of the residence country from the Ministry of Foreign Affairs in India.
iii. Valid photo ID card of the POA holder from the country where he/she is a citizen.
iv. Valid proof of address of the POA holder in India.
v. Valid passport/photo ID copy of the actual owner of the Property.
vi. If the POA holder is a company; details of such company and the valid passport and photo ID card of the individual/authorized signatory representing the company.
5.1.2. Additional documentation for Sellers
a. Documents/information required in relation to the Property
i. Legacy documents pertaining to the title deeds of the Property including a registered and stamped sale deed, power of attorney.
ii. Complete Property description including area, location, place, city etc.
iii. Property address and property layout or map issued by the local municipal corporation.
iv. Any due diligence or title verification reports prepared by third party legal professional or government authorized agent or valuer or bank.
v. Details of any charge, loan, encumbrance, mortgage or similar indebtedness over the Property.
vi. Building/land permits/encumbrance certificate or such similar documents/certificate issued by the relevant local government bodies.
vii. Valid POA details and POA holder’s name, address and identity details in case represented by a POA in India.
viii. In case of joint ownership, a NOC (No Objection Certificate) or authorization from all owners to transact on behalf of all owners.
ix. An affidavit stating that the Property is free from all legal encumbrances and no dispute is pending in any court of law, in which the said Property is subject-matter.
x. Property valuation report submitted by a registered valuer authorized by the Government of India or any other valuer approved by the Platform.
b. Documents/information required if Property is on Lease/Rent
i. Lease agreement
ii. Rental agreement
5.2. Document Verification Process
5.2.1. Upon completion of registration and submission of complete documents as stated herein, Users shall wait for the identity confirmation and document verification from Platform. The Platform reserves the right to accept/reject the request for registration at its sole discretion.
5.2.2. The Platform holds no responsibility if any of the documents uploaded by Users for the purpose of these Terms is rejected by any of the government entities.
5.2.3. Users hold the sole responsibility of the documents uploaded and indemnify the Company from and against any and all claims in connection with authenticity of the documents.
5.2.4. Mere completion/approval of the registration on Platform does not qualify the Users to raise any legal claims towards the Platform.
5.2.5. Submission of all the documents specified herein are mandatory.
5.3. Account Suspension or Termination
In addition to stated elsewhere in this Terms, the Platform also has the right to suspend or delete an account in the following events:
5.3.1. Use of fake or forged documents/information at the time of registration.
5.3.2. Use of the Platform for any illegal activities.
5.3.3. Use of the Platform for data-mining activities with an intention of commercial use of the same.
5.3.4. Use of the Platform for the purpose of price manipulations or shell bidding.
5.3.5. Use of Platform for advertising any property, except as authorized herein.
6. LISTING GUIDELINES
6.1. The Seller shall be responsible to provide to the Platform, for the purpose of the displaying the Property on the Platform, the description, location, details, images, disclaimers, price and such other details of the Property to be displayed and offered for sale and any other information as may be mandated to be provided under applicable laws. The Seller acknowledges and understands that the Platform will list the Property based on such information provided by the Seller.
6.2. he Seller shall be responsible to comply with all applicable laws and regulations along with these Terms while listing the Property on the Platform. The description of the Property listed by the Seller on the Platform must contain all relevant details for the booking/purchase/sale of the Property including price, images, category, and other relevant information relating to the Property as may be required under applicable laws.
6.3. The User confirms that the contents of the information, text or images, being uploaded on the Platform, shall not be obscene, defamatory or scandalous in any manner, or capable of hurting the religious sentiments of any segment of the population.
6.4. The Seller shall at all times provide accurate Property information on the Platform. The description of the Property shall not be misleading. If the actual Property does not match the description displayed on the Platform, the Company shall be entitled to seek any legal remedy against the Seller available to it under law or equity. Notwithstanding the foregoing, the Buyer hereby agrees and understands that the Platform merely facilitates a marketplace for listing of the immovable properties and does not independently verify the authenticity or title of the listed Property, therefore, the Company shall not be liable for any such inaccuracy, wrongful or false information about the Properties listed on the Platform.
6.5. The User shall not list any Property or link or post any related material that (a) infringes any third-party intellectual property rights such as copyright, patent, trademark, service mark, trade secret, and/or other proprietary rights, rights of publicity, and/ or privacy; or (b) constitutes libel or slander or is otherwise defamatory; or (c) is illegal or fraudulent. The User shall be solely responsible for any legal action brought by a third party in case of any violation of these Terms.
6.6. By agreeing to have its/his/her Property listed on the Platform, the User hereby grants to the Company a limited, irrevocable, royalty-free, non-exclusive license to use the User’s brand name and trademark, copyrights, designs, logos, pictures, images and other intellectual property owned by the User and/or licensed to the User, for the purpose of these Terms and reproduction on the Platform or in any of the Company’s advertising materials and such other places as the Company may deem necessary.
6.7. Any violation of the applicable laws and regulations along with these Terms may result in (a) cancellation of User’s account; (b) limitations on usage of the User’s account; (c) suspension of User’s account; and (d) removal of User’s account. The Company reserves the right to analyze in its sole discretion whether a Property listing is appropriate or not and the User shall have no remedy against such a decision.
6.8. The Company shall have the right to determine the content, appearance, design, functionality and all other aspects of the Platform and the Property listed therein (including the right to re-design, modify, remove and alter the content, appearance, design, functionality, and other aspects of the Platform and the Property listed therein and any element, aspect, portion or feature thereof, from time to time) and to delay or suspend listing of, or to refuse to list, or to de-list, or to require the User not to list, any or all Property, at its sole discretion.
6.9. Listing Approval: Once the Buy-Now Price and the Reserve Price with respect to a Property are agreed between the Platform and Seller, the Seller shall proceed with payment of the Listing Fee(Refer to )A notification will be sent regarding listing details after which Seller will have to accept and sign such listing terms digitally with the Company on the Platform (“Listing Terms”). Once the Listing Terms is digitally signed and confirmed with an OTP on the registered email/SMS and the payment obligations are fulfilled by the Seller, the Property may be listed on the Platform (subject to other terms and conditions) under ‘Upcoming Investment Opportunities’ for 7 days prior to the agreed commencement date, after which it will be listed under ‘Current Investment Opportunities’ for the duration of the listing period.
6.10. Listing Rejection: Platform has the right to reject/remove any Property from the Platform at any time if any of the regulations or requirements are in non-compliance by notifying the Seller. The Seller hereby agrees to indemnify the Company for any loss or damages arising out of or in connection with any such delisting of Property by the Platform. However, he/she is entitled to re-list the Property on fulfilment of applicable regulations or requirements.
6.11. Blocking of Property: Any Property once listed on Platform may be blocked from view in case of the occurrence of the following events:
6.11.1. If the Property is successfully sold through Platform.
6.11.2. If the listing period has expired.
6.11.3. If the Seller or Platform de-lists the Property from the Platform at any time, for any of the reasons mentioned in the Terms.
6.11.4. If the Seller withdraws from the sale after confirming the sale by accepting the Bid/Offer of a Successful Bidder or the Buy-Now Price or signing the sale agreement with the Buyer, subject to compensation for damage/loss to Buyer and Platform as per the Listing Terms.
6.12. De-listing: The Property will be de-listed from Platform in the occurrence of the following events:
6.12.1. If a Bid/Offer has been accepted by Seller..
6.12.2. The listing period has expired without any participation request.
6.13. Listing Period: Sellers can list their Properties on Platform for a maximum number of 7, 14 or 21 days (depending on their agreement with the Platform as per the Listing Terms). This period will include the pre-listing and Bidding period. The agreed listing period will be notified to the Seller on Platform and he/she/it will have to agree to the Terms of listing period prescribed therein. The acceptance of notification by Seller is binding upon Seller as per these Terms or any other Terms set by Company for the purpose of listing the Property or other uses of Platform
6.14. The Platform allows the Sellers to post certain content, data, images, descriptions or information belonging to the Property (“Seller Content”).
6.15. The Seller, being the originator of the Seller Content, is responsible for the Seller Content that the Seller uploads, posts, publishes, transmits or otherwise makes available on the Platform. The Seller represents that the Seller exclusively owns the copyright in the Seller Content and has obtained all relevant consents and approvals in order to post any Seller Content. The Seller further represents that all such Seller Content will be in accordance with applicable law.
6.16. In case a third party appears in a Seller Content, the Seller confirms that the Seller has obtained prior consent of such third party before uploading or posting such Seller Content. The Seller further agrees that the Seller shall indemnify the Company against any and all claims raised by such third party with respect to the Seller Content.
6.17. The Seller hereby grants the Company a perpetual, non-revocable, worldwide, royalty-free and sub-licensable right and license to use, copy, distribute, display, publish, transmit, make available, reproduce, modify, adapt the Seller Content and create derivate works of the Seller Content in any manner as deemed appropriate by the Company in any form including but not limited to print, broadcast, online and across any and all websites owned by the Company, any and all websites owned by the Company on any social media channels including but not limited to Instagram, Facebook and Twitter.
7. BIDDING PROCESS
7.1. Binding Offer: Once the Property is listed and exhibited on the Platform, the Seller shall be deemed to have made an “offer to sell” the Property to the Buyers, and if the Seller accepts any Bid received by the Seller in relation to such Property, the same shall be considered as a valid offer and acceptance under the provisions of the Indian Contract Act, 1872 and the same shall be final and binding upon the Sellers and Buyers under the applicable law.
7.2. For any Offer equal to or greater than the Reserve Price or Buy-Now Price, the Seller is contractually obligated to sell to the Buyer with the highest Bid value. The Seller has the option to sell but is not obliged to sell the Property at any price below the Reserve Price or Buy-Now Price. Therefore, (i) the Seller may accept or reject a Bid until a Reserve Price or Buy-Now Price is achieved/offered; and (ii) at or above the Reserve Price or Buy-Now Price, the Seller shall be obligated to accept the Bid or hold until a higher Bid is received but shall not be allowed to reject the Bid.
7.3. Buyer’s acceptance to purchase a Property at Buy-Now Price, the Buyer and Seller shall be contractually obligated to purchase and sell the Property for the fixed Buy-Now Price plus the applicable fee, tariffs and other charges.
7.4. Bidding: The Buyers will be allowed to Bid on a Property listed on Platform during the listing period as selected by the Seller. Buyers can participate in multiple listings simultaneously subject to fulfillment of Participation Security payment requisites and the conditions prescribed by the Platform. Any fraudulent attempts/activities during a listing are strictly prohibited and would attract appropriate penal actions according to Indian laws.
7.5. Buy-Now Price option: With this option, the acceptance of the Bid shall be made independent of the duration of the Bidding period at a Buy-Now Price, and upon the first Buy-Now Price offer, such Buy-Now Price is deemed accepted by the Seller and the Bidding event for the relevant Property is closed.
7.6. Participation in Bidding:Participation in a listing on Platform alone would not automatically create any contractual relationship between the Buyer and Seller, even if the Seller accepts the Bid in the prescribed manner and time limit.
7.7. Bidding Extension: If any Bids are received within the last 3 minutes of the Bidding period closure, the Bidding closing period may be extended by another 3 minutes, and the Platform reserves the right to extend the bidding period for the period as deemed required.
7.8. Proof of Funds and Additional Information: Platform or Seller may require Buyers to provide proof of readily available funds and/or additional information at any time. Time being of the essence, Buyers must respond to such inquiries within one (1) business day. If the proof of funds or additional information are not received timely, Platform or the Seller reserves the right to reject the Successful Bidder’s Offer. Successful Bidders wanting to have the title deed in the name of an entity (not as an individual), may have to submit entity formation documents and resolutions authorizing the purchase within the timeframe specified by Platform (which may be prior to or post the listing completion, at the Platform’s sole discretion). Seller and/or the closing agent/registration agencies may require additional documentation prior to closing.
7.9. Rules for Bidding:
7.9.1. Buyer acknowledges that all Offers submitted during any listing are irrevocable and cannot be withdrawn.
7.9.2. Bidder is an interested buyer who is participating in the listing subject to fulfilment of conditions specified in these Terms. Bidders can post Bids on Platform during the listing period.
7.9.3. Buyers will be able to Bid on a Property within the listing period, from the start date of a listing until the listing period expires.
7.9.4. Bidders cannot withdraw or reuse a Bid made by them during the listing period and shall be committed towards all the Bids submitted except in cases where they are outbid or their Bid is rejected.
7.9.5. All Users shall maintain respective accounts on the Platform’s e-Dashboard (Refer to eDashBoard Terms & Conditions) to participate in a listing and execute payments.
7.9.6. A Participation Security (Refer to Listing Terms, Fees, Charges, and Participation Security) for the listed Property will be blocked from both the Buyer’s and Seller’s e-Dashboard or in any other form and manner determined by the Platform, as a prerequisite for participating in the listing. The same will be released to the Successful Bidder’s e-Dashboard once he/she makes a refund request on his/her dashboard on the completion of the transfer of Property, and/or it will be adjusted as partial payment against the total value of the purchase, as may be determined. The Seller will receive the Participation Security on successful completion of the listing or if the listing period has expired. The Participation Security paid by all the other participants/Users, who failed to secure the Bid, will be unblocked from their e-Dashboard, and the same can be used for other listings..
7.9.7. Buyers can make their Offers to the Seller via Platform during Bidding or acceptance of the Buy-Now Price. The Bidder/Seller can select from the subsequent Bids generated by Platform depending on the property price, size, location, category, and any other factor that the Platform may deem reasonable.
7.9.8. The Seller has the right to accept or reject any of the Offers within the acceptance timeframe until the Reserve Price is met or the Buy-Now Price is offered by any Buyer, and the Buyers will be notified accordingly. However, the Seller cannot reject a Bid equal to, or more than, the Reserve Price or on acceptance of the Buy-Now Price.
7.9.9. Auto rejection of the Bids: The Platform grants the Seller a specified time period to accept any bid that falls below the Reserve Price. This time period shall be visibly displayed on the eDashBoard Activity section for all users. If the Seller does not accept the bid within the designated timeframe, the Platform shall automatically reject the bid, and the Bidder shall be refunded the Participation Security associated with the bid. The duration of the acceptance period may vary based on the specific property listing and prevailing market demand at the time.
7.9.10 Auto Acceptance of the Bids: The Platform grants the Seller a specified time period to place a 'Hold' on bids that exceed the Reserve Price. This time period shall be visibly displayed on the eDashBoard Activity section for all users. If the Seller does not exercise the right to hold a bid within the designated timeframe, the Platform shall automatically accept the highest bid, thereby designating the respective Bidder as the highest bidder for the property. The duration of the hold period may vary based on the specific property listing and prevailing market demand at the time.
7.9.11 Bids Hold Option: The Platform grants the Seller a specified time period to place a hold on the most recent bids that exceed the Reserve Price while awaiting additional offers. The Seller may extend the hold period once for a limited duration, as determined by the Platform's policies. Upon the expiration of the extended hold period, if no further action is taken by the Seller, the Platform shall automatically accept the bid, and the transaction shall be deemed finalized.
7.9.12. In case the Bid amount placed is equal to or above the Reserve Price or matches the Buy-Now Price, the Buyer’s Participation Security will be held until the closing of the Bidding event or, in case, such Buyer is outbid by another Buyer, the Participation Security of losing Bidder/Buyer will be refunded to their e-Dashboard
7.9.13. The Platform reserves the right to limit, modify or impose conditions on submitting Offers or access to the Platform in any event at its sole discretion without any liability to the Seller/Buyer whatsoever.
7.9.14. A Buyer becomes a Successful Bidder, provided the Bid is unconditionally accepted by the Seller during or at the end of the listing period. On acceptance of the Bid, all other participants are notified of the final outcome. The Buyer hereby agrees to indemnify and hold the Company/Platform harmless from any claims or liabilities arising in case the Seller/Property Lister rejects the highest Bidder for reasons best known to the Seller.
7.9.15. The Seller can remove a Property from the listing before receiving a Bid without any penalty. De-listing of Property from the list during the Bidding period would attract a penalty (Refer to Security).
7.9.16. The Buyer agrees that the Seller holds complete discretion on accepting or rejecting an Offer and Platform holds no responsibility on any claims upon rejection of Offers by the Seller.
7.9.17. Upon receiving confirmation from the Seller, the Buyer is bound to fulfil all the requirements within the prescribed time.
7.9.18. In the event the Buyer withdraws or fails to fulfil obligations within the prescribed time after the communication of acceptance of the Bid or Buy-Now Price by the Seller, a penalty equal to the amount of the Participation Security or greater, shall be charged against the Buyer and the Participation Security amount will be seized or confiscated by the Platform and the remaining penalty amount shall be paid by the Buyer to the Platform within 3 (Three) days of the claim.
7.9.19. On withdrawal by Buyer, the Seller may accept the Offer submitted by the next highest Bidder.
7.9.20. In the event that the Seller fails to receive a Bid higher than the Reserve Price, they can either request for re-listing or can exit the listing subject to the rules below.
7.10. Re-listing:
7.10.1. If the Seller wants to re-list, a request regarding the same shall be submitted to Platform within the expiry day of last listing.
7.10.2. On receipt of the above request, Platform may accept or reject the request based on its prima facie opinion after verifying the reasons for failure caused in the last listing.
7.10.3. Once the application is accepted, Platform will determine a new price for the Property and will have a negotiation over the new price with the Seller. The re-listing of the Property would be according to the rules mentioned above as a new listing with new Listing Fees.
7.11. Exit from Listing:
7.11.1. The Seller will automatically exit from the listing in the event the highest Bid is not equal to or more than the Reserve Price by the end of the listing period.
7.11.2. Any withdrawal/exit during the listing period would attract penal consequences mentioned above.
7.11.3. The amount paid as Participation Security will be refunded to the Seller on exit from the listing and Listing Terms signed with the Company would be terminated immediately. The Company reserves the right to deduct any penalty/authorized deductions on such refund. Sellers can withdraw the money available in the e-Dashboard subject to the rules provided therein.
7.12. Purchase & Sale of Property:
7.12.1. The Successful Bidder of the listing will be notified within three (3) days from the date when the listing ends.
7.12.2. On acceptance of the Offer by the Seller, both Buyer and Seller shall be notified of a date and time on which they shall sign an agreement to sell wherein they agree to complete the sale and purchase procedures for the Property within a period of forty five (45) days, subject to fulfilment of payment obligations. In case the Buyer/Seller fails to complete the transaction within the said timelines, it shall be considered as a breach of these Terms and the Company shall be entitled to take appropriate legal action against the defaulting User.
7.12.3. The Platform/Company holds no responsibility if any one of the two parties (Buyer or Seller) refuses or fails to fulfil the obligations under the said agreement to sell. The User shall accordingly be liable to indemnify the Company from any legal actions or claims in case of such defaults. It is hereby agreed and understood by the Users that the Company/Platform merely facilitates a platform for the Users to negotiate on the prices of the properties listed on the Platform and does not provide any services related to actual transfer and purchase of the Properties listed on the Platform. Once the Users conclude on the purchase price related to a Property listed on the Platform, the Users are solely responsible to conclude the transactions legally.
7.13. Payment by Successful Bidder:
7.13.1. The successful Buyer should complete the payment obligations as per the agreement to sell and make complete payment of the purchase price including the sale registration fee and other applicable government fees as mutually agreed within thirty (30) days from the winning notification date.
7.13.2. The Participation Security blocked in the Platform’s e-Dashboard may be adjusted to the total purchase price and the Buyer shall pay the balance along with associated charges and fees, as may be determined.
7.13.3. The User hereby agrees to indemnify and hold the Company harmless from any legal actions in case of such default on part of the User.
7.13.4. Schedule of Payments: (Refer to ).
7.14. Mode of Payment: Buyer shall pay the amount through one of the following methods:
7.14.1. Manager’s Cheques
7.14.2. Cash
7.14.3. Bank Transfer
7.14.4. Payment Gateway
7.15. Title Deed Information:
It is the sole responsibility of the Seller to ensure that the information on the Property’s title deed and any other document furnished for the transfer of property is accurate and free from any errors. In the absence of any specific instruction from the Buyer at any time before the initiation of application for the title deed, the information furnished at the time of registration will be used and Platform holds no responsibility for any such information contained in the transactional documents. Any further modification/amendment to transactional documents would be the sole responsibility of the Users.
7.16. Transfer of Ownership:
7.16.1. Transfer of the Property and all legal requirements for the transfer of title of Property has to be completed within the specified period as stipulated in the agreement to sell unless the delay is not under the reasonable control of Users or where the delay is due to any government entities involved.
7.16.2. If the Buyer wants to register the Property, in the name of another person, the details of such beneficiary should be provided within (03) days of winning the listing.
7.16.3. The Buyer agrees that the purchase of the listed Property through Platform would not affect any existing tenancy contracts if such contracts are duly modified and the Seller replaces the cheques for the rental period on or after a period of five (5) days of the transfer of ownership of the property as per the statutory requirements. The Company, its employees, its owners, and its contractors do not hold any commitment, responsibility, consequence, Service, or compensation, whether on a penal, civil, commercial, legal, or contractual basis.
7.17. Additionally, the Buyer must acknowledge that he/she/it has the right to participate in the listing and is not prohibited or restricted by any laws or rules or procedures and has the right to hand over Participation Security and make full payment for final settlement if declared as the winner.
8. PROPERTY VALUATION
8.1. Valuation: Valuation is a mandatory requirement before any Property is listed on the Platform for listing. The valuation shall be done by either an approved RICS valuator from the Platform, or an external RICS valuator or both. The Platform enables provision of a free of cost valuation services or paid external valuation services. The Users are free to opt for either option.
8.2. Free Valuation by internal team of the Platform:
8.2.1. The Property valuation will be done by the Platform through a registered valuator as per the International Valuation Standards, 2020 adopted by the Royal Institution of Chartered Surveyors (RICS). Valuators are subject to change periodically without notice to third parties, as per the methodology followed by the Platform.
8.2.2. The Property valuation by Platform internally will be free of cost. However, the Platform reserves the right to amend its schedule of charges, any time and the updated charges will be applied on the Platform.
8.2.3. The valuation report will be displayed on the Seller’s dashboard once it is completed and a report is generated by the valuation team as per the terms herein. This report is solely for the purpose of the Platform and the User under no circumstances can use it for any other purpose whatsoever.
8.2.4. The Seller can either accept the valuation report generated by Platform or opt for a valuation from an external valuator, at their own cost.
8.2.5. Upon accepting the valuation report generated by the Platform, the Seller hereby agrees to all procedures regarding valuation of the Property.
8.3. Paid valuation by external valuers: Platform also provides the option of external valuation, wherein the Seller may authorize the Company to assign a third party pre-selected and pre-approved valuation entity to conduct and provide valuation services to the Seller. The following terms and conditions shall apply to the appointment of such external valuers, if the Seller chooses to opt for an external valuation:
8.3.1. By proceeding with the payment for external valuation, the Seller agrees to appoint the Company to represent him/her in order to instruct the valuation company to initiate the valuation process.
8.3.2. The Company/Platform has no responsibility whatsoever for anything beyond the scope of service of valuation. In particular, it has no obligations to provide or has no liability towards an opinion on price unless specifically instructed to conduct a formal valuation advice, or failure to advice, on the condition of a property unless specifically instructed to conduct a formal survey. The Platform must use reasonable endeavors to comply with Seller’s given timeframe but is not responsible for not doing so unless agreed to in writing and even so, the Platform is not liable for delays beyond its control.
8.3.3. Liability: The Platform/Company has no liability for the consequences, including delay in or failure to provide the valuation services, arising out of (i) any failure by the Seller or any agent of the Seller failing to promptly provide information or other material that external valuers reasonably requires, or wherein that information or material provided is inaccurate or incomplete or (ii) reasons of external valuer’s default, misconduct, negligence or any acts/omissions. The Seller warrants that, where it provides information or material to the Platform, the Platform is entitled to rely on its accuracy to follow the external valuator’s advice or recommendations. The Platform/Company shall have no liability towards the Users in contract, tort (including negligence or breach of statutory duty), and misrepresentation or otherwise howsoever caused arising out of or in connection with the provision of valuation services or otherwise for events caused by circumstances beyond the Platform’s reasonable control as the Company/Platform merely facilitates the external valuation services and does not directly control or supervise the operations, functions, quality of the work done by such valuers. The User understands that Platform/Company owes no duty of care and has no liability to anyone in relation to the valuation services, unless specifically agreed to in writing. The Platform has no liability for products or services that it reasonably needs to obtain from others in order to provide the services herein. The Platform has delegated to an external valuator the provision of the service, or part of it, only where this is reasonable but remains liable for what the external valuator does, unless the Seller agrees to rely only on the external valuator. If delegation is at the Seller’s specific request, Platform is not liable for what the external valuator does or does not do.
8.3.4. Remuneration: Where the fees and expenses payable for the valuation service are not specified in writing, the external valuator is entitled to the fee specified by the RICS or other applicable professional body or, if none is specified, the external valuator is entitled to a fair and reasonable fee by reference to time spent and reimbursement of expenses properly incurred on the Seller’s behalf. Wherever the service is not performed in full the Platform is entitled to a reasonable fee proportionate to the service provided as estimated by the external valuator. The Seller must pay any additional applicable tax as will be added to such fees invoiced. If after completing the preliminary analysis related to a project, significant parameters that were assumed as part of the Platform’s offer or agreement need to be changed, such as project components, positioning, management structure or any other material factors, then Platform may ask for an additional fee based on the actual time required to perform the revised assignment. Such additional fee will be applicable after approval of the Seller. The Platform is entitled to postpone the start of an assignment until its payment has been received.
8.3.5. Communication: The Seller will appoint for the purpose of this clause a representative who will act as liaison with Platform. The Platform may use electronic communication and systems to provide services, making available to the Seller any software required that is not generally available. A notice is valid if in writing addressed to the last known address of the addressee and is to be treated as served; when delivered, if delivered by hand through a Notary Public in India (if that is during normal business hours) otherwise when business hours next commence two business days after posting, if posted by recorded delivery when actually received, if sent by ordinary mail or fax. Notice may not be given via email.
8.3.6. The Seller acknowledges that any estimates given by Platform are based on information reasonably available to the Platform and its knowledge of the market. The Platform will use reasonable skill and care in providing its advice but the Seller acknowledges that the estimates are estimates only and agrees that market conditions and assumptions may change and reliance on estimates will be at their own risk.
8.3.7. Term and Termination: Termination of the agreement does not affect any claims that arise before termination or the entitlement of Platform to its proper fees up to the date of termination or to be reimbursed for its expenses. The starting date of the assignment shall be validated with the Seller upon the appointment of the external valuator to complete the assignment. If no date is agreed between the parties then the agreement is considered to have started as of the date from when the Platform began delivering the services.
8.3.8. Responsibility: Platform will complete a review of all relevant documents that form part of its assignment. However, the Platform is not a law firm nor a tax consulting firm or financial services firm or a valuation company, and therefore the Seller should consider obtaining a comprehensive review of the documentation if deemed necessary.
8.3.9. Conflict: :If Platform or the external valuator becomes aware of a conflict of interest, it will advise the Seller promptly and recommend an appropriate course of action.
8.4. Platform’s Valuation Methodology:
8.4.1. Inspection of the Property will be conducted by the Platform appointed valuation agents/companies/affiliations.
8.4.2. The Property will be inspected as per the International Valuation Standards, 2020 adopted by Royal Institution of Chartered Surveyors (RICS).
8.4.3. The information provided in documents (title deed, property layout, mortgage etc.) will be verified.
8.4.4. Market value of the Property at time of valuation will be assessed.
8.4.5. Valuation period.
8.4.6. Seller agrees and allows internal/external valuators to take pictures/videos of the Property as per the Platform’s valuation methodology for the purpose of these Terms. Seller/ will cooperate with the valuation team and provide all necessary support throughout the valuation process.
8.4.7. Seller agrees to disclose to the valuation team or the Buyer, any and every material defect in the Property, of which the valuation team or the Buyer is not aware and is unable to discover. Seller shall holds the Company harmless of all future disputes arising out of such defects.
8.5. Valuation Estimates:The Platform provides value estimates for the Properties through RICS approved valuators or independent valuators, which can be used for estimate purposes only. The Users should consider their own research, experience, sources for undertaking any valuation process. The User hereby agrees to indemnify the Company from and against any third party claims in relation to the valuation estimates.
8.6. The User hereby acknowledges and agrees that the Properties listed are known to them and inspected as well as valuated by them on their own responsibility, experience and sources without relying on the estimations or advertisements on the Platform.
9. PROPERTY VISITATION
9.1. Interested Buyers or their authorized representatives at their sole responsibility can view the listed Property before participating in the Bidding event. Buyer hereby agrees and confirms that upon participation in the Bidding event, the Buyer hereby irrevocably and expressly agrees to have verified the physical specifications of the Property as listed on the Platform and shall hold the Company harmless of any variations in the specifications, size of Property, overall internal and external condition of the Property or any other changes that may differ from the specifications/images as mentioned on the Platform.
9.2. Property Visitation by Buyers:
9.2.1. The Seller shall specify the visitation or ‘Open House’ dates for Buyers to visit and view the Property and Seller shall notify the Platform/Buyer (2) days prior to any change in the dates.
9.2.2. The Open House shall be held for the entire period/duration of the listing, right from when the Property is listed under upcoming listings to the closing of listing.
9.2.3. The Seller shall provide and pre-agree on a calendar period and timeframe
9.2.4. The Open House shall be a calendar-based booking event.
9.2.5. The Open House shall be cancelled if the Seller accepts an offer during the listing period..
9.2.6. The Open House shall be cancelled if the Seller withdraws the listing.
9.2.7. The Open House shall be cancelled if the listing period has ended.
9.3. The Platform offers potential Buyers the option of viewing Properties physically, whereby they can register for the Open House schedule available in the Property’s listing on the Platform. Sellers on providing the Open House viewing option, acknowledges its commitment to the non-circumvention agreement with Company herein that prohibits Sellers and their associates, mediators, brokers, intermediaries, relatives, or property owner from dealing with the Buyer/Bidder (or Buyer-introduced friends, relatives, associates and businesses) outside of Platform.
9.4. The User hereby irrevocably agrees and Security to the Company that it shall not, directly or indirectly or through its affiliates or subsidiaries or designated persons or representatives, deal with any potential/prospective Buyers in connection with the Property. The User shall not directly or indirectly circumvent or attempt to circumvent the Platform/Company, for any direct or indirect business benefit and hereby agrees to indemnify and keep indemnified the Company at all times from any and all loss or damage of any kind suffered by the Company as a result of a breach of the representations and warranties made by the User.
9.5. In case of circumvention, the User agrees and securities that it will pay a legal monetary penalty that is equal to the commission or fee or monetary benefit which the Company/Platform should have realized in such transactions, by the Person(s) engaged on the circumvention for each occurrence. If the Company commences legal proceedings to interpret or enforce the terms of this Terms, then it will be entitled to recover court costs and reasonable attorney fees.
10. GUIDELINES FOR BROKERAGE AGENTS AND FIRMS REGISTERED ON THE PLATFORM
10.1. The Platform offers commissions or referral fees on executed deals of some Properties listed on the Platform to the brokerage firms and agents who choose to list such Properties on behalf of Sellers on the Platform as per the terms herein, on such terms and conditions as may be determined by the Company.
10.2. Brokerage firms and agents shall conduct all the activities listed hereof in order to successfully execute the transaction and collect commission:
10.2.1. Meet with Seller in order to conduct a valuation of the Property to be listed coordinating with the valuer appointed by the Company.
10.2.2. Negotiate with Seller on the Open Price, Reserve Price and Buy-Now Price for listing the Property.
10.2.3. Complete all processes required for finalisation of listing specifications, in order to successfully list the Property on Platform.
10.2.4. A representative from the brokerage firm or an agent must meet with potential Buyers during the scheduled Open House in order to understand their requirements.
10.2.5. Brokerage firms or agents representing both Buyers as well as Sellers must upload the final brokerage report of the Property on Platform.
10.2.6. Brokerage firm or agent representing Sellers must also update the property investment analytics on Platform based on the market analysis report provided to him/her.
10.2.7. During the transfer of ownership, the representative from brokerage firm or agent must be present in order to coordinate meetings between registration agencies and the Buyer/Seller, and/or other governmental agencies offices as required.
10.2.8. The brokerage firm or agent must also collect the listing Security cheques only payable to the company, collect commission, premium cheques and other fees if applicable and submit to the Finance Department of the Company in order to facilitate the transaction requirements.
10.2.9. The brokerage firm are not allowed to collect any funds in cash, bank transfers or cheques, or any other form for any services related to the Platform on their account. All the payments are payable to the Company’s accounts only. Neither the brokerage firms are allowed to hold any form of payment or credit on the Platform’s or Company’s behalf.
10.2.10. For representing the Seller/Buyer, the broker/agent should confirm to having received all authorizations and satisfied all legal requirements necessary to submit Offers on behalf of the Buyer, and for listing of a Property on behalf of a Seller the broker/agent must agree to the Listing Terms of Platform.
10.2.11. The broker/agent acknowledges and agrees that any Offer submitted will be binding upon the broker/agent and the Buyer identified at the registration to the same extent as if the Buyer had submitted the Offer.
10.2.12. The broker/agent hereby also agrees to indemnify and hold the Company harmless from any non-compliance or any breach of these representations or warranties or based on unsatisfactory services or representation or misinformation, if the commission or referral fee is not approved.
11. PLATFORM FEES
11.1. Registration Fee: Users may be charged a one-time registration fee (“Registration Fees”). This Registration Fee is listed in the fees and charges.
11.2. Listing Fees: The Company shall charge a non-refundable mandatory fee to the Seller for listing the Property (Refer to Fees, Charges, and Security) on the Platform (“Listing Fees”).
11.3. Buyer’s Premium: The Buyer’s premium is a non-refundable amount payable to the Platform by Buyers upon mutually agreed payment terms (“Buyer’s Premium”). The Buyer’s Premium is either a fixed amount or (%) of the sale value as provided in the individual Property listing terms and may vary between individual Properties listed on the Platform.
11.4. Participation Security: The Users will be required to pay Participation Security to participate in any Bidding conducted on the Platform. This will be held by the Company on behalf of the User without generating interest as security for the performance of all the User’s obligations under this Agreement. The Participation Security or any balance will be returned to the Users when they have settled its account which includes deducting any outstanding fees and other costs due to the Platform. If the Users default on the terms and obligations herein, the Platform reserves the right to confiscate the Participation Security amounts and claim additional compensation if the provided security do not cover the cost of the Platform. The Participation Security shall be refundable for unsuccessful Bids. In cases where the Bid is accepted but the obligations are not fulfilled by the User, the Participation Security shall be deemed non-refundable and used to offset participation fees and the Platform’s costs.
11.5. The Platform may require Users to pay an increased security or security if outstanding fees exceed the Participation Security held and/or the Users frequently fail to pay the fees to Platform when due.
11.6 Participation Security Default:Participation Security Default" shall mean the forfeiture of a non-interest-bearing participation security amount, initially refundable under the terms herein, payable by Users for the privilege of participating in Platform-conducted bidding. Should a bidder or seller fail to complete the settlement within forty-five (45) days following a successful bid, this security amount shall be retained by the Platform to cover the costs incurred due to the default. (Refer to Listing Terms, Fees, Charges and Participation Security).
11.7 Furthermore, the Platform reserves the right to seek damages from the defaulting party for any additional losses incurred due to the failure to fulfill contractual obligations, as detailed in the (Refer to ). The defaulting participant shall have no right to initiate any legal or other action against the Platform, its management, employees, or affiliates in connection with the retention of the security amount or any claims made by the Platform under this provision.
11.8. Alternative for Sellers:As an alternative to paying the Participation Security, the Seller may provide an exclusive right to the Company to list the Property on the Platform for a period of 90 days from the date of sharing the OTP agreeing to the Listing Terms (“Exclusivity Period”), as may be solely determined by the Company. During this Exclusivity Period, the Seller shall not, directly or indirectly, list, sell, advertise, publish the sale of Property in any other platform, medium, media, whether offline or online. The Exclusivity Period shall remain in effect to its fullest tenure of 90 days even if the Property is delisted or the Property is not sold on and through the Platform, for any reason.
11.9. It is hereby clarified that the Company reserves the sole right to determine if any User shall pay the Participation Security or avail the option of Exclusivity Period. The option to avail for Exclusivity Period is an option as may be accorded by the Company. The Company is not bound to mandatorily allow the option of availing Exclusivity Period to any Seller.
11.10. Alternative for Buyers: As an alternative to paying the Participation Security, a Buyer can avail of the credit facility provided on the Platform by furnishing a security cheque and appropriate points or amount towards the Participation Security amount shall be added on the name of the Buyer. The Buyers can request cancelation and return of the cheque in case of no facility usage. The Buyers cannot request cancellation if there are outstanding Bids, blocks, or pending usage. If the Buyer defaults on any of his/her obligation towards the Platform, the Platform reserves the right to bank the cheque and claim all dues and damages incurred by the Platform/Company to satisfy such claims and may also claim extra funds from the Buyer.
11.11. Payment: The Users shall pay any and all fees and charges including the Listing Fees, Registration Fees, performance fees, Participation Security and Buyer’s Premium (as may be applicable) to the Company as per the terms herein or indicated by the Platform from time to time. Platform is continually striving to reduce its environmental impact and support its Users in doing the same. Therefore, the Platform will send all invoices electronically (where allowed by law) for all amounts payable by the Users under these Terms.
11.12. Late payment: If the Users do not pay fees, commission and charges when due, a fee will be charged on all overdue balances. If the Users dispute any part of an invoice, they must pay the amount that is not in dispute by the due date or be subject to late fees. Platform also reserves the right to withhold services and access to the Platform while there are any outstanding fees and/or interest or the Users are in breach of this Terms.
11.13. Insufficient funds: The Users shall pay a fee for any returned cheque or any other declined payments due to insufficient funds.
11.14. Event Commission: a non-refundable amount payable to Platform by Seller upon mutual agreement payment terms.
11.15. Legal fees: If the Users default to any obligation of the Terms, a case may be presented by the Company to a court of law in India against the User. In such event, the Company can claim any costs incurred, including but not limited to any fees, expenses, advocate’s fee, court stamp duty, and any other associated costs which are necessary and incidental to the same, in addition to compensation.
11.16. Discounts, promotions and offers: If the Users are benefitted from a special discount, promotion or offer, the Platform may discontinue that discount, promotion or offer without notice, if the Users materially breach these Terms.
12. DISCLAIMERS
12.1. In case of a mortgaged or encumbered Property, the Platform holds no liability if third parties claim any rights over the Property.
12.2. The information regarding the Property has been accumulated from different sources and is provided on an “as is, as available” basis with all defects and flaws. Users are required to conduct their own due diligence and are suggested to seek guidance from a licensed real estate broker, contractor, lawyers, financial advisors, tax advisors, and/or other relevant professionals.
12.3. THE COMPANY, AND ITS SUBSIDIARIES, EMPLOYEES, OFFICERS, AGENTS, OR AFFILIATES HEREBY MAKE NO REPRESENTATIONS OR ASSURANCES OF ANY KIND OR CHARACTER, WHETHER EXPRESSED OR IMPLIED, WITH RESPECT TO ANY PROPERTY, OR THE LEGAL ADEQUACY OR CONSEQUENCES RELATED TO TAX WITH REGARDS TO ANY DOCUMENT PROVIDED BY PLATFORM.
12.4. EACH USER ENGAGING IN THE LISTINGS PROCESS THROUGH THE PLATFORM, HEREBY RELEASES THE COMPANY, ITS EMPLOYEES, OFFICERS, DIRECTORS, REPRESENTATIVES, ATTORNEYS, BROKERS, AGENTS, AFFILIATES AND ASSOCIATED PARTIES (COLLECTIVELY KNOWN AS “REPRESENTATIVES”) OF ANY AND ALL CLAIMS THAT MAY ARISE DURING THE PROCESS, OR HEREAFTER FOR ANY AND ALL DAMAGE OR INJURY RESULTING FROM OR RELATING TO INACCURACIES, OMISSIONS, ERRORS OR ANY OTHER CONDITIONS THAT AFFECT ANY PROPERTY, OR THE LISTINGS PROCESS. THIS RELEASE ALSO INCLUDES CLAIMS THAT A USER IS CURRENTLY UNAWARE OR DOES NOT SUSPECT AT THE MOMENT TO EXIST IN HIS/HER FAVOUR, WHICH, IF KNOWN BY THE USER, WOULD MATERIALLY IMPACT HIS/HER RELEASE OF PLATFORM.
12.5. Occasionally there may be information on the Platform that contains typographical errors, inaccuracies or omissions that may relate to Company or its services descriptions and availability. We reserve the right to, but are not obliged to, correct any errors, inaccuracies or omissions, and to change or update information about the services or on anything related to the Platform which stands inaccurate at any time without any prior notice to the Users.
12.6. The User expressly agrees that the use of the Platform is at User’s discretion and sole risk and that the User will be solely responsible for any damage or loss.
12.7. The User understands and agrees that purchase or an investment in real estate assets is speculative in nature and involves a high degree of risk, including the risk of loss of capital. An investment in real estate asset is suitable only for sophisticated investors who fully understand and are capable of bearing the risks of an investment in real estate assets. A Buyer should only purchase Property or invest in real estate assets as part of an overall investment strategy, and only if the Buyer is able to withstand a total loss of its money. No security or representation is made by the Company that the User will achieve any financial or investment objectives or will receive a return of capital.
12.8. You accept that we have an interest in limiting the personal liability of our officers and employees to the extent permitted by law and, having regard to that interest, you agree that you will not bring any claim personally against our officers or employees in respect of any losses you suffer in connection with the Platform or this Terms.
12.9. The images of any Property listed on the Platform are for illustrative purposes only and may not be an exact representation of the Property.
12.10. If you are dissatisfied or harmed by the Platform or anything related to it, your sole remedy shall be to terminate these Terms by closing your account on the Platform.
12.11. The User acknowledges that the Company does not endorse any Seller Content or any specific Seller or Property on the Platform and is not responsible or liable for any Seller Content.
12.12. If you have any questions or concerns about these Participation Terms, please get in touch with our Legal Team at