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TERMS & CONDITIONS IN FURTHERANCE TO THE BIDDING NOTICE PUBLISHED IN THE PRESS

  1. The Flat will be allotted on Leave & Licence basis. Interested Applicants to submit their proposal in a sealed envelope @ BPP Office (Tel: 02222617421/22/23 or (M) 9819946387, with a separate Demand Draft of Rs. 1 Lakh in the name of “Funds & Properties of the Parsi Punchayet Bombay” as Earnest Money Deposit, which will be returned if their proposal is not accepted. Please do not put the Demand Draft in the sealed envelope but hand it over separately.

  2. Interested bidders must quote value of the Flat in excess of (Reserve Security Deposit amount), exclusive of Stamp Duty and Registration Charges, as applicable for registration of Leave & License Agreement.

  3. The sealed envelopes will be opened in the presence of all the applicants on the same day of Bidding.

  4. The highest offer will be taken as the Second Reserve Security Deposit amount and the applicants will be requested to make an Open offer in excess of this Second Reserve Security Deposit amount.

  5. The highest Open Offer will be taken as the Third Reserve Security Deposit amount.

  6. The bidder will be guided beforehand by the BPP Trustees and Administration for all 3 Rounds Bidding process. Final Round will be conducted on One-to One basis in close cover- confirmation for bid in excess of 2nd round highest bid amount.

  7. The flat will be allotted to the highest bidder in this Third & Final round. (If any tie it may occur, one more round will be conducted on same pattern of Third & Final round for Final Highest Figure)

  8. 50% of the full Security Deposit amount of the flat must be deposited by the bidder within 15 days and the balance 50% within one month. Failure to make payments on the Due date will lead to cancellation of their offer and the forfeiture of the Earnest Money Deposit. The flat may again be put up for bidding, or offered to the second highest bidder, as decided by the Trustees.

  9. The Leave & license Agreement will be registered after the Full Security Deposit amount is received by the Trust. Possession of the flat will be given only after Leave & Licence Agreement is executed and registered.

  10. The Trustees reserve the right to refuse any or all offers at their discretion without assigning any reason.


By the order of BPP Trustees

A. F. Sarkari
CEO