TERMS OF USE

  1. Introduction
    1. The Covered Platforms (hereinafter defined) are owned and operated by PropertyShare Online Platform Private Limited, a company incorporated under the laws of India and having its registered office located at E715, 7th A Main Raheja Residency, Koramangala 3rd Block Bangalore- 560034 (“PropertyShare”). PropertyShare provides the user an online platform to facilitate purchase of fractional ownership in commercial properties in India among multiple like-minded buyers. Accordingly, the terms PropertyShare, website, “we”, “our” and “us” in these Terms of Use refer to PropertyShare Online Platform Private Limited.
    2. These terms and conditions of use (“Terms of Use”) describe the terms applicable to your use of the PropertyShare website (www.propertyshare.in), mobile-optimized versions of the website, digital applications, and any other media formats for the purposes of use and promotion of PropertyShare (collectively referred to as the “Covered Platforms”), and other products, software and services, from time to time, on the Covered Platforms, owned or licensed and operated by PropertyShare and its affiliates, such as email, chat, bulletin board services, information related to recommendations, news groups, forums, communities, personal web pages, calendars, and/or other message (together the “Services”).
    3. By accessing the Covered Platforms, registering with the Covered Platforms, submitting any material to the Covered Platforms or using any of the Services, you expressly agree to accept these Terms of Use in full. Accordingly, if you disagree with these Terms of Use or any part of these Terms of Use, you may not access or otherwise use the Covered Platforms or Services.
    4. You represent and warrant that you are an individual of legal age to form a binding contract as per the laws of India (or if not, you’ve received your parent’s or guardian’s permission to use the Covered Platforms and that your parent or guardian has agreed to these Terms of Use on your behalf).
  2. Definitions
    1. Unless the context otherwise requires, for the purpose of these Terms of Use, the following terms shall have the meaning ascribed to them hereunder:
      1. Applicable Law” means all laws, ordinance, statutes, rules, orders, decrees, injunctions, licences, permits, approvals, authorizations, consents, waivers, privileges, agreements and regulations of any governmental authority/court of law having jurisdiction over the relevant matter including any interpretations thereof, in effect;
      2. Intellectual Property Rights” means all patents, designs and drawings, trademarks, service marks, logos, domain names and utility models, copyrights, inventions, brand names and business names and any similar rights and the benefit (subject to the burden) of any of the foregoing (in each case whether registered or otherwise, and includes applications for the grant of any of the foregoing and the right to apply for any of the foregoing in any part of the world);
      3. Terms and Conditions” means these Terms of Use, Privacy Policy, Transaction Documents (if any) or any other document which outlines or governs the relationship between the User and PropertyShare regarding the use and access of Covered Platform and Services;
      4. Transaction Documents” means the various documents required to be executed by a User to purchase, manage and sell Fractional Ownership of a Listed property on the Covered Platform;
      5. User” means you, and does not include your permitted assigns, successors, heirs and legal representatives, unless the context requires otherwise;
      6. User Account” means the personal online account created by User to access and use the Covered Platforms;
  3. License

    Subject to the compliance with Terms of Use and payment of fees (if and as applicable), PropertyShare grants you a non-transferable, non-exclusive, license to use the Covered Platforms for your personal, non-commercial use.

  4. Intellectual Property Rights
    1. You acknowledge that all the Intellectual Property Rights in the Covered Platforms are owned either by PropertyShare or PropertyShare's licensors, or by the content suppliers, as the case may be, but in no event by the User except as explicitly provided herein. The provision of the Covered Platforms does not transfer to you or any third party any rights, title or interest in or to such Intellectual Property Rights. PropertyShare or PropertyShare's licensors, or content suppliers reserve all Intellectual Property Rights not specifically grated in these Terms of Use.
    2. Subject to the restrictions under Paragraph 4 (Restrictions on Use) below, you agree that all copyright and other proprietary notices on any Covered Platforms content must be retained on all copies thereof.
  5. Restrictions on Use
    1. The rights granted to you under these Terms of Use are subject to the restrictions provided below.
    2. You shall not:
      1. license, sell, rent, lease, transfer, assign, distribute, host, or otherwise commercially exploit the Covered Platforms, without express written consent of PropertyShare;
      2. access the Covered Platforms in order to build a similar or competitive service;
      3. copy, reproduce, distribute, republish, download, displayed, poste or transmit in any form or by any means, any part of the Covered Platforms, for any commercial purpose, without express written consent of PropertyShare;
      4. use the Covered Platforms in any way that causes, or may cause, damage to the Covered Platforms or impair the availability or accessibility of the Covered Platforms or in any way which is unlawful, illegal, fraudulent or harmful, or in connection with any unlawful, illegal, fraudulent or harmful purpose or activity;
      5. abuse, harass, impersonate, intimidate or threaten other Users;
      6. post or transmit, or cause to be posted or transmitted, any content that is harmful, infringing, libelous, defamatory, abusive, offensive, obscene, pornographic, pedophilic, invasive of another's privacy, hateful, or racially, ethnically objectionable, disparaging, relating or encouraging money laundering or otherwise violates any Applicable Law or right of any third party; or that threatens the unity, integrity, defence, security or sovereignty of India, friendly relations with foreign states, or public order or causes incitement to the commission of any cognizable offence or prevents investigation of any offence or is insulting any other nations;
      7. use the Covered Platforms for any unauthorized purpose, or in violation of any Applicable Law or these Terms of Use;
      8. post or transmit, or cause to be posted or transmitted, any communication or solicitation designed or intended to obtain password, access to another User’s account, or private information from any User;
      9. create or send unwanted email (spam) to any other User;
      10. impersonate any person or entity, or falsely state or otherwise misrepresent your affiliation with a person or entity;
      11. infringe upon the Intellectual Property Rights of PropertyShare, other Users, or any third party, while accessing or using the Covered Platform;
      12. submit comments linking to affiliate programs, multi-level marketing schemes, sites repurposing existing stories or off-topic content;
      13. post, email, transmit, upload, or otherwise make available any material that contains software viruses or any other computer code, trojan horse or other code with malicious, disruptive and/or destructive features, files or programs designed or functioning to interrupt, destroy, or limit the functionality of any computer software or hardware or telecommunications equipment, including the Covered Platforms;
      14. use any robot, spider, scraper, sniping software or other automated means to access the Covered Platforms for any purpose;
      15. conduct any systematic or automated data collection activities on or in relation to the Covered Platforms without express written consent of PropertyShare;
      16. use the Covered Platforms or any part of it to transmit or send unsolicited commercial communications, or for any other purposes related to marketing, without express written consent of PropertyShare;
      17. take any action that imposes, or may impose, in our sole discretion, an unreasonable or disproportionately large load/strain on our infrastructure;
      18. sell or otherwise transfer your User Account/ profile, or allow any third party to use or access your User Account; or
      19. without our prior written consent, reverse engineer, frame, modify, copy, distribute, transmit, display, perform, reproduce, publish, license, create derivative works from, transfer, or sell any information, software obtained from or part of the Covered Platforms.
  6. User Accounts
    1. You may need to register an account with us in order to use or access the Covered Platforms or the Services.
    2. To be eligible to register an account with us, you must be at least 18 (eighteen) years of age and an Indian citizen.
    3. By registering an account with us (“Registered User”), you represent and warrant that you are at least 18 years old, that all information you submit is true, accurate and complete and you shall comply with these Terms of Use. You further represent and warrant that: (a) all required registration information you submit is truthful, accurate and complete; and (b) you will maintain the accuracy of such information.
    4. Your User Account gives you access to the Services on the Covered Platforms.
    5. You will be solely responsible for maintaining the confidentiality of your User Account and log-in details, and we will not be responsible for misuse of your User Account by any third party, whether authorized by you or not. You may never use another User’s account without permission of such User and us. You also prohibited from sharing your log-in details or allowing anyone access to your account, or do anything that might put your User Account at risk.
    6. You are responsible for any activity on the Covered Platforms arising out of any failure to keep your User Account confidential, and may be held liable for any losses arising out of such a failure. You agree to notify us immediately of any unauthorized use of your User Account or any other breach of security.
    7. PropertyShare reserves the right to refuse to offer access to or use of the Covered Platforms to any person or entity at Property’s sole discretion including by changing its eligibility criteria at any time.
  7. Property Selection and Listing
    1. The three-pronged criteria for selection of properties to be Listed (defined hereafter) on the Covered Platforms is as follows (“Selection”):
      1. Location: As far as is reasonably possible, PropertyShare strives to identify properties in well-established residential neighborhoods, which are in proximity to basic civic facilities such as schools and hospitals.
      2. Construction Status: As far as is reasonably possible, PropertyShare strives to identify reputed residential apartments with a legally valid title and whose construction is complete.
      3. Quality: As far as is reasonably possible, PropertyShare strives to identify only Grade-A developers providing high quality properties and amenities are selected.
    2. The process of listing a property which matches the Selection criteria is as follows (“Listing”):
      1. Locating and Selecting potential properties: The investment team of PropertyShare works alongside reputed broker networks and other legitimate sources to locate potential properties that can be Listed on the Covered Platforms.
      2. Negotiating price and signing agreements: The investment team of PropertyShare takes all reasonable efforts to obtain competitive pricing for the potential properties and subsequently ‘locks’ the property, by signing a binding agreement to sell in respect of the identified property with the sellers of such property.
      3. Listing the properties: Upon the successful completion of the processes contemplated in (a) and (b), the properties are then Listed on the Covered Platforms along with an investment note providing relevant, basic information about the Listed properties which is freely available for viewing and perusal of all Users (“Investment Note”) The Investment Note of all Listed properties is also sent via mailer to all Registered Users, in addition to being available on the Covered Platforms.
  8. Purchase of Fractional Ownership
    1. Users are afforded the opportunity to purchase fractional ownership of any of the properties Listed on the Covered Platform. A User may select a property in which he/she is interested in and use the Covered Platform to signify to PropertyShare his/her interest in purchasing fractional ownership in such Property (“Fractional Ownership”).
    2. Once a User expresses interest in purchasing Fractional Ownership, PropertyShare will send such User an offer letter containing details of Fractional Ownership, and the terms and conditions related to such purchase (“Transaction Documents”).
    3. The purchase, sale, management and disposition of the Fractional Ownership by the User shall be completed and governed by the Transaction Documents. PropertyShare may use its Affiliates for rendering property management services, including development, financing and leasing services for the Users who purchase Fractional Ownership on Covered Platform, and all such affiliates shall receive negotiated fees (brokerage, disposition fee, guarantee fee, property management fee, etc.) for services so rendered.
    4. A User who has purchased Fractional Ownership of a property Listed on the Covered Platform, will be able to track his/her returns on such Property through the dashboard provided on the Covered Platform. We will take reasonable steps to ensure that all details of all Listing, purchase of Fractional Ownership and the returns made by User are reflected accurately on the Covered Platform, however in the event of any discrepancy, inaccuracy, error, etc. PropertyShare shall not be liable for any such discrepancy, inaccuracy, error, etc.
  9. Mobile Apps and Third-Party Services
    1. When you access and use the Covered Platforms, you may also be using the services of one or more third-party service providers, including wireless carrier, mobile platform provider, or application store (e.g. GooglePlay, Apple iPhone Store, Windows Store etc.). The use of these third party services by you shall be subject to separate policies, terms of use, privacy policy, and fees of these third parties (including fees for downloading and using mobile applications, and any operator network and roaming charges), and you hereby explicitly agree to comply with same.
    2. You may have to use third-party payment gateway to make payments to us, or to other vendors through the Covered Platforms. The processing of payments will be subject to the terms, conditions and privacy policies of the payment processor, in addition to these Terms of Use, and you hereby explicitly agree to comply with same. The terms of your payment will be based on your payment method and may be determined by agreements between you and the financial institution, credit card issuer or other provider of your payment method. We are not responsible for any error by the payment processor.
  10. External Content
    1. The Covered Platforms might contain links to third party websites, services, and advertisements for third parties. Third party websites may in turn link to the Covered Platforms. You acknowledge and agree that third party websites, advertisements and services are not under the control of PropertyShare and that PropertyShare is not responsible for the information, content, products, services, advertising, or other materials which may be provided therein (“External Content”).
    2. Additionally, we may furnish reports, summaries, charts, data, analysis prepared by third parties for you to provide better understanding of the investment opportunity and the risks associated with you (“Third Party Materials”). You understand and acknowledge that your reliance on any Third Party Materials is at your own risk, and you should obtain independent advice in relation to all your investment decisions.
    3. The inclusion of any link to such External Content or Third Party Materials on the Covered Platforms does not imply PropertyShare’s endorsement, sponsorship, or recommendation of such External Content or Third Party Material. PropertyShare specifically states that the links to External Content and Third Party Materials have been provided for convenience purpose and PropertyShare does not review, approve, monitor, warrant, make any representations, or assume any liability whatsoever in connection with the use or reliance of such External Content.
    4. We strongly advise you to read the terms and conditions and privacy policies of any third party websites or services that you click on, access or use.
  11. Privacy Policy

    Please review our Privacy Policy to understand what kind of information we gather from you and the specific measures we take to protect your personal information. The Privacy Policy is hereby incorporated into these Terms of Use by reference.

  12. Use of Cookies and Analytical Tools
    1. We use data collection devices such as “cookies” on certain pages of the Covered Platforms to manage our users’ sessions, store preferences, serve ads, track information, help analyze our web page flow, measure promotional effectiveness, and promote trust and safety.
    2. The types of information cookies collect may include personal information such as your name, your IP address, contact details, personal preferences, and details of your use of the Covered Platforms.
    3. You have the ability to either accept or decline the use of cookies on your computer / device, whether you are registered with us or not. Typically, you can configure your browser to not accept cookies. However, declining the use of cookies may limit your access to certain features of the Covered Platforms.
    4. We may also allow third-party advertising companies and marketing services companies to serve ads and other content when you visit the Covered Platforms and elsewhere on the internet and in other media. These third-party service providers may place third-party cookies and use the information about your visits, buying behavior, browsing history, preferences, to this Covered Platforms and elsewhere to serve ads and other content to you. We cannot control or access cookies used by third-party service providers.
    5. In addition, we may provide your personal information to marketing services companies on an anonymous and aggregate basis to allow them to market their products or services, or for other marketing purposes. This may be information we received from you offline and online.
    6. For more details on the types of cookies used on the Covered Platforms and guidance on how you may disable cookies, please view our Privacy Policy which is hereby incorporated into these Terms of Use by reference
  13. Limitations, Disclaimers and Exclusions of Liability
    1. All information, content, materials, products (including software) and Services included on or otherwise made available to you on or through the Covered Platforms are provided on an “as is” without any representations or warranties, and other terms which might otherwise be implied by statute, common law or the law of equity including, but not limited to, implied warranties of merchantability and fitness for a particular purpose.
    2. PropertyShare does not warrant that the information, content, materials, products (including software) or other Services included on or otherwise made available to you on or through the Covered Platforms (whether by PropertyShare, its affiliates, suppliers, content providers and advertisers), PropertyShare’s servers or electronic communications sent by PropertyShare are free of viruses or other harmful components.
    3. PropertyShare shall not be liable for any damages whatsoever, including but without limitation to any direct, indirect, special, consequential, punitive or incidental damages, or damages for business losses, loss of contracts or business relationships, profits, data, database, software or other intangibles, damage to goodwill or reputation, or the cost of procurement of substitute goods and services, arising out of or related to the use, inability to use, performance or failure of the Covered Platforms and any materials posted thereon, products (including software) or other Services or otherwise made available to you on or through the Covered Platforms, irrespective of whether such damages were foreseeable or arise in contract, tort, equity, restitution, by statute, at common law or otherwise.
    4. Without prejudice to the generality of the foregoing paragraph, PropertyShare does not warrant or represent:
      1. the completeness or accuracy of the information published on the Covered Platforms;
      2. that the material on the Covered Platforms is up to date;
      3. that the Covered Platforms or any Service on the Covered Platforms will remain available.
    5. You understand and acknowledge that an investment in fractional ownership of real estate assets is highly speculative and involves a high degree of risk, including the risk of loss of an investor’s entire investment. An investment in fractional ownership of real estate asset is suitable only for sophisticated investors who fully understand and are capable of bearing the risks of an investment in fractional ownership of real estate assets. An investor should only invest in real estate assets as part of an overall investment strategy, and only if the investor is able to withstand a total loss of its investment. No guarantee or representation is made by us that you will achieve your investment objectives or will receive a return of your capital.
    6. You confirm and acknowledge that by registering on the Covered Platform, you authorize and consent to PropertyShare sending promotional and marketing content to you through emails, phone calls, short message service or other electronic and non-electronic mode of communication, and no such communication shall be deemed to be in violation of law relating to unsolicited commercial communication.
    7. 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 Covered Platforms or these Terms of Use.
    8. The laws of certain jurisdictions do not allow limitations on implied warranties or the exclusion or limitation of certain damages. If these laws apply to you, some or all of the above disclaimers, exclusions, or limitations may not apply to you, and you might have additional rights.
    9. We make no representation or warranty regarding the Covered Platform:
      1. meeting your requirements,
      2. being accurate or reliable;
      3. being accessible in an uninterrupted, timely, secure or error-free manner.
    10. Access to and use of the Covered Platforms by you is contingent on your internet connection and we shall not be held liable for any breaks in your internet accessibility.
    11. In the event that the Covered Platforms or any portion thereof is not accessible due to technical problems or for any other reason, Users are not entitled to claim any loss or damage from us and we are not obligated to compensate any such User.
    12. If you are dissatisfied or harmed by the Covered Platforms or anything related to it, your sole remedy shall be to terminate these Terms of Use by closing your account on the Covered Platforms.
  14. Breach of Terms of Use

    Without prejudice to PropertyShare’s other rights under these Terms of Use, if you breach these Terms of Use in any way, or if we reasonably suspect that you have breached these Terms And Conditions in any way, we may take such action as we deem appropriate to deal with the breach, including (a) temporarily suspend your access to the Covered Platforms, (b) permanently prohibit you from accessing the Covered Platforms, (c) blocking computers / devices using your IP address from accessing the Covered Platforms, (d) contacting any or all of your internet service providers and request that they block your access to the Covered Platforms, (e) commence legal action against you, whether for breach of contract or otherwise; and/or (f) suspend or delete your User Account.

  15. Termination
    1. Either you or PropertyShare may terminate the relationship between us, with or without cause, at any time to be effective immediately.
    2. While PropertyShare will try to provide you prior notice of any termination of your account, you agree that PropertyShare may under certain circumstances, immediately terminate your User Account. Causes for termination may include, but shall not be limited to, your breach of the Terms and Conditions, requests by law enforcement or government agencies, non-payment of fees owed by you in connection with the access and use of the Covered Platform or the Services.
    3. PropertyShare shall not be liable to you or any third party for the termination of any Covered Platform or the Services. If you object to any Terms and Conditions or become dissatisfied with the Service or Covered Platform in any way, your only recourse is to: (a) discontinue use of the Covered Platform or the Services; and (b) notify PropertyShare of such discontinuance.
    4. Upon termination of the relationship, your right to access or use the Covered Platforms and the Services shall immediately cease. You shall have no right, and PropertyShare shall have no obligation thereafter, to execute any of your uncompleted tasks or forward any unread or unsent messages to you or any third party. Once your User Registration is terminated, cancelled or suspended, any data that you have stored on the Covered Platforms may not be retrieved later.
    5. Upon termination of your relationship with us without cause or without breach of the Terms and Conditions on your part, PropertyShare shall, within thirty (30) days of such termination, refund any balance amount in your Accounts to your personal bank account as per the information provided in your User Registration or to such other bank account that you may notify to us.
    6. In the event your relationship with us is terminated due to cause or breach of the Terms and Conditions on your part, we will be entitled to make appropriate deductions from the amount available in your Accounts, prior to refunding the balance to your personal bank account.
  16. Governing Law and Dispute Resolution
    1. These terms and conditions shall be governed by and construed in accordance with the laws of India.
    2. Any disputes relating to these terms and conditions shall be subject to the exclusive jurisdiction of the courts of Bangalore.
  17. Severability

    If a provision of these Terms of Use is determined by any court or other competent authority to be unlawful and/or unenforceable, the other provisions will continue in effect. If any unlawful and/or unenforceable provision would be lawful or enforceable if part of it were deleted, that part will be deemed to be deleted, and the rest of the provision will continue in effect and, to the extent permitted and possible, the unlawful or unenforceable provision of these Terms of Use shall be deemed replaced by a provision that is lawful and enforceable and that comes closest to expressing the intention of such unlawful or unenforceable term.

  18. Entire Agreement

    These Terms of Use, together with the Privacy Policy constitute the entire agreement between you and PropertyShare in relation to your use of the Covered Platforms, and supersede all previous agreements in respect of your use of the Covered Platforms. Please note, however, that other aspects of your use of Services may be governed by additional agreements, For instance, if you wish to purchase fractional ownership of a Listed property on the Covered Platform you will need to agree a set of Transaction Documents or other agreements such as service level agreements, software license agreements (“Individual Service Agreement”). You will agree to terms and conditions of such Individual Service Agreement when you sign up for that particular product, function, or service. An Individual Service Agreement supplements these Terms of Use. If any term of this Agreement expressly conflicts with any term of an Individual Service Agreement, the conflicting term in the Individual Service Agreement will control. All other terms and conditions in both this Agreement and the Individual Service Agreement will remain in force.

  19. Changes to the Terms of Use and Privacy Policy

    PropertyShare reserves the right, at its sole discretion, to change, modify, add or remove any portion of the Terms of Use or the Privacy Policy, in whole or in part, at any time. If we make any substantial changes to these Terms of Use or the Privacy Policy, we may notify you by prominently posting notice of the changes on the Covered Platforms. Any changes will be effective upon expiry of seven (7) calendar days following our posting of notice of the changes on the Covered Platforms. These changes will be effective immediately for new users of our Covered Platforms. In the event a User has any reservation or objections to any change in the Terms of Use or the Privacy Policy, such User may exercise its right to terminate this relationship under Clause 15. Your continued use of the Covered Platforms and/or the Services made available on or through the Covered Platforms after any changes to the Terms of Use or the Privacy Policy are posted will be considered acceptance of those changes.

  20. Release and Indemnification

    You agree to indemnify and hold each of PropertyShare, its directors, representatives, employees, consultants and contractors, harmless from any claim or demand, including reasonable solicitors’ fees, made by any third party due to or arising out of your use of the Covered Platforms and / or any Services therein, the breach of these Terms of Use by you, or the infringement by you of any Intellectual Property Rights or any other right of any other person or entity.

  21. Confidentiality

    Subject to the express permissions of these Terms of Use, you and us will protect each other’s Confidential Information from unauthorized use, access or disclosure in the same manner as each protects its own Confidential Information, but with no less than reasonable care. Except as otherwise expressly permitted pursuant to these Terms of Use, each of us may use each other’s Confidential Information solely to exercise our respective rights and perform our respective obligations under these Terms of Use. The term ‘Confidential Information’ shall mean all information disclosed or accessed by you to us or by us to you which is labeled “confidential” (or with a similar legend) or which a reasonable person would understand to be confidential given the nature of the information and circumstances of disclosure. Notwithstanding the foregoing, Confidential Information shall not include information that (a) was already known to the receiving party at the time of disclosure by the disclosing party; (b) was or is obtained by the receiving party by a third party not known by the receiving party to be under an obligation of confidentiality with respect to such information; (c) is or becomes generally available to the public other than by violation of these Terms of Use; or (d) was or is independently developed by the receiving party without use of the disclosing party’s Confidential Information.

  22. Communication
    1. If you need to give us notice of anything, including infringement of your rights, or any other non-compliance with these Terms of Use, or you have any questions on these Terms of Use, please write to us at legal@propertyshare.in.
    2. If we need to give you notice of anything, we shall write to you at the email address you provide to us.

 

© [2018] [PropertyShare Online Platform Private Limited] [E715, 7th A Main Raheja Residency, Koramangala 3rd Block Bangalore- 560034] [Registered in India] [All rights reserved] [Version 1] [18/04/2018]