Payment Terms

perfect squared

For Interior Services

Payment Options

Perfect Squared, managed by Perfect Squared Luxe Designs Private Limited, your interior purchases/services effortlessly.

1. Online Transactions

Each quotation provided to you will contain account information. Payments are securely processed through our bank, enabling you to utilize major credit cards, debit cards, UPI, and digital wallets.

2. Offline Transactions

If you prefer this method, kindly consult your designer. All checks or drafts should be made payable to Perfect Squared Luxe Designs Private Limited.

Payment terms for a Perfect Squared project

Project and Order :

A project encompasses the design endeavor for a single home or business space. Multiple orders may be placed for a single project, such as one for modular products and another for services like civil work. Payments are processed on an order-by-order basis.

Booking with Perfect Squared:

To initiate your interior project with Perfect Squared, a booking fee is required, amounting to 5% of the final quote or Rs. 25,000, whichever is higher. This fee is credited towards future orders. In cases where the project’s scope significantly expands, an additional 5% may be required for the new scope before design commencement.

Payment Gateway Fee:

1. The gateway fee is exempted for the initial installment submitted by the customer.

2. Invoices are accessible for download via email.

3. A non-refundable gateway fee of 2% (including GST) per transaction will be applied to customer payments made towards a project.

Comprehend The Key Milestones For Executing An Order

Here’s the payment milestones presented in a table format:

Milestone	Payment Due	Description
M1	5% On booking	5% of Tentative Quote or Rs.25,000 (whichever is higher)
M2	50% Project Value to Start Execution	At order confirmation which includes the booking amount value
M3	45% Project Value at 50% Completion stage	Within 3 days of notifying about 50% product or services rendered
M4	5% final payment	Along with soft handover sign off

Each milestone indicates when the payment is due and provides a brief description of the conditions associated with it.

Outlined below are the various order types and predetermined execution milestones to provide clarity regarding your payment schedule.

Milestone	Description	Criteria for Completion
M1: Booking	Initial booking of services	Moved for Designing Phase
M2: Design Finalization	Finalization of interior design and materials selection	All designs approved and materials selected; Signs of drawings completed
M3: 50% Work Completion	Completion of major construction and preliminary finishing work	Civil work, false ceiling, concealed electrical work completed; External lamination for carpentry work done; Initial lights fitting completed; First coat of painting applied; Deep cleaning commenced (Note :- For Modular Solutions 100% payment to be done for delivery & Installation)
M4: Final Handover	Completion of all work and preparation for handover	All finishing work completed; Final lights fitting; Final coat of painting applied; Deep cleaning finished; Debris removed; Final inspection conducted; Handover Completed; Warranty E-booklet generated

Delay Penalty Policy

What is Delay Penalty?

Delay Penalty is a concession provided to customers when project handovers are postponed for a duration exceeding 15 days after the confirmed move-in date*. This date is communicated in the Project Schedule subsequent to the generation of all sales orders.

What is the penalty rate?

For each day beyond 15 days after the committed move-in date, a penalty of 0.1% of the total Project Value is applicable.

Effective from Jan 1st, 2024, the delay penalty amount for all customers shall either be deducted from M4 Milestone or compensated through a Discount Product. This compensation cannot be exchanged for cash or transferred to any other individual or entity.

For example, if the Move-In Date is February 1st, 2024, and the Project Value (net offer/discount) is INR 5,00,000 a penalty of INR 500 (0.1% of INR 5,00,000) per day will be levied for any delays beyond February 16th.

The maximum payable delay penalty cannot exceed 3% of the total project value.

*Move-in definition: A project is deemed ready to move-in if the kitchen, living, bed, and bathrooms are functional. In projects with minor snags that do not affect the functionality of the home, it is still considered ready to move-in.

When is the Delay Penalty not applicable?

Any design changes/modifications after communicating the move-in date to the customer.
Projects involving customer-handled scope of work; the move-in date will be re-estimated based on the customer's execution duration.
Delay in site access or restricted access resulting in delays in execution by Perfect Squared/Perfect Squared Service partner scope of work.
Unavailability of consistent, uninterrupted power or water supply during the execution phase.
Non-payment or delay in payments as per the payment milestones by the customer.
Dependency on customer approvals from local authorities not obtained before project execution.
Delay in production or delivery of products ordered from third-party/marketplace brands.
Force Majeure events beyond reasonable control such as natural disasters, war, government restrictions, changes in law, supply shocks, manpower shortages, or any other unforeseen circumstances.

For Home Construction Services

Payment Terms & Conditions

STEPS	PAYMENT PERCENTAGE	MILESTONES	DESCRIPTION
Meet Our Architect	–		Initial meeting with the architect to discuss requirements and vision.
Seal the Deal	2% of tentative Quote or Rs.40,000 (whichever is higher)		Formal agreement signing, securing the services of the architect
Finalize Design	40% of total cost	M1	Completion and approval of architectural plans and design (Note: 2% booking amount will adjust in 40% final Project Value)
Execution & Foundations	–		Beginning of the construction process, including site preparation and foundation work. & Construction of the main structure and installation of essential systems.
Structure & Installations	30% of total cost	M2	Before External & internal walls, plaster, conceal electrical, conceal plumbing work
Final Fittings & Finishes	28% of total cost	M3	Before Installation of fixtures, fittings, and final aesthetic touches.
Handover Sign-off & Settle In	2% of total cost	M4	Finalize the inspection prior to signing off, releasing the remaining 2% payment to initiate the creation of warranty cards and finalizing the move into the finished area.

Terms & Conditions

All prices mentioned above are inclusive of taxes
Any other taxes if levied by Central/State Government/Local Authorities shall be borne by the owner.
Actual Built-up area/ Cost will be based on as per the floor plan finalized.
Rates are calculated for works under the slab; any additional work is at additional cost.
All lesioning fees and charges to the respective bodies to be borne by the client
Structure: The foundation shall be as per the structural drawings.
Water and electricity necessary for & during the period of construction shall be provided by the owner.
Cost has been arrived assuming natural earth in excavation. If any concrete structure, stone, rock slush or any other obstacle during the excavation which may require additional effort to dismantle or handle, would cost additional to this quote.
Handling of any unforeseen issues if arisen with neighbors, statutory bodies is the scope of the owner.
Any additional work which has not been included in the quote, will be taken up as per the listed price and applicable service charges.
No of Toilets considered is limited to 2 Nos & Kitchen/Utility is 1 No per 1,000 Sq.ft .
All statutory bodies like BBMP, BESCOM, BWSSB Including deposit & Bill Amount shall be the responsibility of the owner.
The payment shall be made as per the payment schedule in the Agreement.
The area of the building shall be measured from outer-to-outer edge of the roof slab for all the floors.
Plan sanction charges shall be borne by the owner.
The building structure would be under warranty for 10 years.
Age related cracks will not be covered under warranty, warranty invalid if alterations done.
For the validity of the Quotation, the Agreement to be signed within 30 days from the date of booking, if not the quote shall be null and void.
The site and the road level are considered same for calculations, any difference and backfilling would be at additional cost.
Extraordinary excavation conditions like rock or loose soil will attract additional cost.
Costs are calculated based on the assumption that space would be made available for labour shed and storage. Any small quantity procurement will attract additional costs.
The packages are calculated considering the base price of raw materials.
The pricing and specifications are calculated considering a minimum built up area of 1000 sqft per floor.
Rates have been calculated considering the soil bearing capacity of minimum SC of 180 KN/M2 rates could change as per the decrease in the SBC.
If client opt out of construction after completion of design, there will be a charge of Rs. 100 per sqft applicable to the client.
Final Price may vary depending upon plot/site conditions, applicable structural design and final chosen finishing items/features/addons.
Pick and choose customized option available to match your personality and lifestyle.
Products can be customized as per customer needs/budget and requirements.
The above rates are applicable for minimum 1200 sq.ft. built up area and plots located within 25 Kms radius of Pune, Mumbai, Gulbarga, Solapur, Bangalore, Mangalore for other cities/metros, we shall give you the exact package pricing upon request.

Payment Terms

perfect squared

For Interior Services

Payment Options

1. Online Transactions

2. Offline Transactions

Payment terms for a Perfect Squared project

Project and Order :

Booking with Perfect Squared:

Payment Gateway Fee:

Comprehend The Key Milestones For Executing An Order

Outlined below are the various order types and predetermined execution milestones to provide clarity regarding your payment schedule.

Delay Penalty Policy

What is Delay Penalty?

What is the penalty rate?

When is the Delay Penalty not applicable?

For Home Construction Services

Payment Terms & Conditions

Terms & Conditions

POPULAR QUESTIONS

Frequently Asked Questions

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Contact Us :

+91 7900125100

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