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Payment Terms and Conditions

Effective Date: 01/04/2026

Last Updated: 01/04/2026

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1. Definitions
For the purpose of these Terms and Conditions:
(a) “Amegh Group” shall mean and include all companies, limited liability partnerships, partnerships, and other entities, whether existing now or incorporated in the future, operating under the brand “Amegh” and engaged in real estate development and/or allied activities in India.
(b) “Company/Companies” shall mean the relevant entity of the Amegh Group in whose project the Applicant is making the payment, including its successors and permitted assigns.
(c) “Applicant” shall mean the person(s) making the payment through the online/offline mode.
(d) “Project/Unit” shall mean the real estate project/unit for which the payment is being made, as applicable.

 

2. Eligibility
Only Indian Residents/Non-Resident Indians (NRIs)/Persons of Indian Origin (PIOs) competent to contract under the Indian Contract Act, 1872 and permitted under applicable laws, including FEMA regulations, shall be eligible to make payments.

 

3. Regulatory Compliance (MahaRERA Alignment)
(a) All payments shall be made strictly in accordance with the provisions of the Real Estate (Regulation and Development) Act, 2016 (“RERA”) and rules/regulations framed thereunder, including those applicable to the State of Maharashtra (“MahaRERA”), where applicable.
(b) The Applicant agrees that booking amounts and subsequent payments shall be governed by the applicable RERA provisions, including execution of Agreement for Sale prior to acceptance of amounts exceeding the prescribed limit.
(c) The Company/Companies shall deposit amounts received, where applicable, in designated RERA-compliant bank accounts as mandated under law.

 

4. Nature of Payment
(a) Any initial payment made shall be treated as an Expression of Interest (EOI)/Application Money/Booking Amount, as may be specified for the Project.
(b) Such payment shall not create any right, title, interest, or claim in the Unit unless and until:

  • a formal allotment is issued; and

  • an Agreement for Sale is executed and registered, as per applicable law.

 

5. Mode of Payment & Processing
(a) Payments may be made through authorized banking channels, including net banking, UPI, debit/credit cards, RTGS/NEFT, or other approved modes.
(b) Online payments are subject to the rules of the Reserve Bank of India (RBI) and payment network operators.
(c) The Company/Companies shall not be responsible for delays in realization of funds due to banking/payment gateway issues.

 

6. Payment Risk & Liability
(a) The Applicant acknowledges risks associated with electronic transactions, including technical failures, delays, or errors.
(b) The Company/Companies shall not be liable for:

  • failed transactions;

  • amounts debited but not credited due to technical or banking errors;

  • incorrect details provided by the Applicant.
    (c) In case of failed transactions where funds are received by the Company/Companies, appropriate reconciliation/refund shall be processed within reasonable timelines.

 

7. Completion of Application
An application shall be deemed complete only upon:
(a) realization of payment in the Company’s/Companies’ designated bank account; and
(b) submission of all required details and documents by the Applicant.

 

8. Adjustment of Payment
Upon execution of the Application Form and/or Agreement for Sale, the payment shall be adjusted against the total consideration payable for the Unit.

 

9. Refunds & Cancellation
(a) Refunds shall be governed strictly by:

  • the terms of the Application Form;

  • the Agreement for Sale; and

  • applicable provisions of RERA/MahaRERA.
    (b) Any permissible refund shall be processed within timelines prescribed under applicable law or, where not specified, within a reasonable period.
    (c) Refunds shall be made only to the original payment source, unless otherwise required by law.
    (d) Deductions, if any, shall be as disclosed in the Application Form and in compliance with applicable law.

 

10. Third-Party Payments
In case of payments made by third parties or disputes raised by payment providers, the Company/Companies reserve the right to:
(a) withhold processing of the application; and/or
(b) cancel the application, subject to settlement of such disputes.

 

11. Payment Schedule Compliance
The Applicant agrees to adhere to the payment schedule as set out in the Application Form/Agreement for Sale. Delays may attract interest/penalties as per applicable RERA provisions and agreed terms.

 

12. Acknowledgement & Receipt
Upon successful realization of payment, a receipt shall be issued (electronic or physical). The Applicant shall retain the same as proof of payment.

 

13. Governing Law & Jurisdiction
These payment terms shall be governed by the laws of India. Matters relating to projects registered under MahaRERA shall be subject to the jurisdiction of the appropriate authority and courts/tribunals in Maharashtra

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