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These terms of use (“Terms”) mandate the terms on which the users (“You” or “Your” or “Yourself” or “User”) access and register on the website www.AltDRX.com and its mobile application operated by ALT DRX Private Limited (“Company”), collectively referred to as (“Platform”). The Company through the Platform enables individual and institutional investors to invest in and earn long terms gains, periodic short-term revenue and certain community benefits from curated real estate assets (“Property” or “Properties”).
These Terms are an electronic record in terms of the Information Technology Act, 2000 and rules made thereunder (as applicable) that are generated by a computer system and do not require any physical, electronic, or digital signatures.
Please read these Terms of Use (“Terms”) and the Privacy Policy carefully before using or registering on the Platform or accessing any material, information, etc., through the Platform. By clicking on the ‘I Accept’ button provided at the signup page, You accept these Terms and the Privacy Policy and agree to be legally bound by the same and You shall not claim invalidity of these Terms merely on the grounds that it is being concluded electronically.
For the aforesaid purposes, Your affirmative action in clicking on 'check box' and on the 'I Accept' button while registering or transacting as a User (including availing any Services (as defined below) offered on the Platform) implies Your acceptance of the Terms. Your use of the Platform implies that You agree with the Terms. You hereby further agree that the Terms are being concluded and executed electronically.
If You do not agree or are not willing to be bound by the Terms and / or any rules and policies as displayed on the Platform, please do not click on the ‘I Accept’ button and do not seek to obtain access to Services (as defined below) provided on the Platform or otherwise use the Platform in any manner.
The Company retains an unconditional right to modify or amend the terms and conditions of the Terms and the Privacy Policy without notifying the same to You. You can determine when the Terms were last modified by referring to the “Last Updated” legend above. It shall be Your responsibility to check the Terms periodically for changes. Your acceptance of the Terms shall signify Your consent to any changes made to the Terms from time to time and accordingly to be legally bound by the same. Further, by furnishing Your Personal Information (defined in the Privacy Policy) to the Company or giving Your consent to the Company to access Your Personal Information for the purpose of rendering the Services, You also agree that You are interested in availing the Services through the Platform in accordance with the terms and conditions of the Terms.
You acknowledge that the Platform allows You to avail the following Services including:
License to use the Platform: The Company provides You a limited, non–exclusive, non–transferable, royalty free license to use the Platform for the purposes of registering on the Platform, accessing the Company’s Content (as defined below) and availing the Services through the Platform.
Services offered on the Platform:
The Platform offers You an opportunity to invest in special purpose vehicles incorporated in the form of Limited Liability Partnerships (“SPV LLP”), which shall in-turn purchase Properties using the invested amount (“Investment Opportunities”) from the partners of the SPV LLP. For this purpose, a team of experts identify suitable properties (referred to as “Property” or “Properties” in relation to the Investment Opportunity) and the same is made available on the Platform for the Investment Opportunity. The Properties that the SPV LLP will acquire are as per the pre-determined parameters ("Portfolio Parameters”) that are recorded in the Investment Documents (defined later) executed by You. It is to be noted that each Property managed by the SPV LLPs will be basis the portfolio theme of the SPV LLP agreed in the Portfolio Parameters of the said SPV LLP. The SPV LLP will purchase the Properties in a phased manner within a period (“Acquisition Tenor”) as recorded in the Portfolio Parameters.
The Platform provides an insight into the information about the Properties including minimum contribution that can be made by You, expected periodic income to be generated from the Properties etc.
If You are interested to invest in an Investment Opportunity of a SPV LLP on the Platform, You are required to register on the Platform following the registration process and complete the verification as provided in these Terms at Clause 4. Upon successful registration, a 3-in-1 User Account (defined below) is created in Your name and allotted to You. This consists of Your unique “User ID”, a “Virtual Bank Wallet” and a “Virtual SQFT Wallet” on the Platform. Once the registration process is complete and Your User Account is set up, You are eligible to invest in any open Investment Opportunity available on the Platform for a particular SPV LLP. You can fund Your Virtual Bank Wallet directly using Your registered and verified personal bank account or UPI and proceed to invest. Contribution to an Investment Opportunity listed on the Platform can be made in three ways: (i) Private Opportunity; or (ii) TradeX; or (iii) Bulk Order; or (iv) Monthly and Daily Savings Plan.
Private Opportunity:
If You decide to proceed with an Investment Opportunity in a particular SPV LLP through a Private Opportunity option, You are required to choose an Investment Opportunity of your choice from those listed on the Platform, determine the amount of money you wish to invest (“Investment Amount”), e-sign a binding Expression of Interest form (“EOI”) that is issued to You by the Company and transfer a portion of Your Investment Amount (“Earnest Money”) to Your Virtual Bank Wallet. Each Investment Opportunity is available / open for investment only for a pre-determined period, post which the opportunity to invest in the said Investment Opportunity through the Private Opportunity ceases (“Investment Period”).
For each Investment Opportunity there will be a minimum Investment Amount that will need to be invested as part of the Private Opportunity. If You wish to invest any amount lesser than such minimum Investment Amount, Your EOI will not be accepted.
You can place an EOI for an Investment Opportunity in Private Opportunity, only if Your Virtual Bank Wallet on the Platform has an amount exceeding the required Earnest Money. In the event there is a shortfall in Your Virtual Bank Wallet, You will need to transfer such shortfall amount to Your Virtual Bank Wallet from your linked and verified personal bank account or UPI.
By signing the EOI, You will authorize the Company to deduct the Earnest Money from your Virtual Bank Wallet and transfer the same to the SPV LLP’s bank accounts. Payment of the Earnest Money does not guarantee acceptance of Your contribution, as the Platform accepts EOIs and the Earnest Money only on a first-come-first-serve-basis.
Upon execution of the EOI and payment of Earnest Money, if You are selected to invest in an Investment Opportunity towards which you have expressed your interest, You are required to transfer the entire Investment Amount minus the Earnest Money from Your linked and verified personal bank account to Your Virtual Bank Wallet. You are also required to authorize the Company to deduct the entire Investment Amount minus the Earnest Amount from Your Virtual Bank Wallet and transfer the same to the SPV LLP’s accounts (which is an escrow account).
After having executed the EOI, if You wish not to continue with the opportunity for whatever reason within a period of 7 (seven) days from the date of execution of the EOI (“Free Look Period”), You shall be entitled to be refunded the Earnest Money in full. However, in case of any cancellation request made by You post the Free Look Period (for any reason whatsoever), You will be charged a cancellation fee equivalent to 100% (One Hundred Percent) of the Earnest Money for such cancellation and accordingly the Company shall have the right to withhold your Earnest Money and such amounts shall stand forfeited.
If the Investment Opportunity is not fully funded / not funded up to Minimum Amount (“Minimum Amount” means the minimum subscription that has been agreed with the seller of the Property forming a part of the Investment Opportunity) during the Investment Period, or the transaction could not be completed due to any reason whatsoever, then the Earnest Money paid by You shall be refunded to You in full into Your Virtual Bank Wallet without any interest or any other penalty, from where You will be at liberty to withdraw the funds into your linked and verified personal bank accounts. If the Investment Opportunity is funded beyond the Minimum Amount but not fully funded (partial funding), then the LLP SPV shall purchase the Property to the extent of the cumulative investment amounts received from all users of the Platform. In this scenario the Investment Documents (defined below) shall capture the final details of the transactions and Your entitlements. We accept the Earnest Money on a first-come-first-serve-basis. In an unlikely scenario, if for any reason whatsoever, a Property available on the Platform is not fully funded or not funded to the extent of the Minimum Amount or transaction is not completed due to any other issues, Your Earnest Money shall be transferred back to Your Virtual Bank Wallet, without any interest or any other penalty. You can raise a withdrawal request to take back the entire Investment Amount or Earnest Money.
We will notify You if You are selected to invest in Investment Opportunity or not on the Platform. If You are selected, we will share all the Investment Documents and any other documents that need to be executed by You. You are then required to execute the Investment Documents within three (3) days from the date of receipt of such notice from Us. Upon this, the SPV LLP initiates the process of purchasing the Property.
The Investment Amounts remitted by You, shall be segregated towards capital contribution and loan contribution to the SPV LLP.
Your partnership interest in the LLP SPV for a specific Investment Opportunity, shall be communicated to You in the Investment Documents.
For the loan contribution made by You, You shall be issued multiple loans each with a specific face value, cumulatively equivalent to the loan amount contributed by you. These loans may be commonly referred to as “Loan Units” or “SQFT”). The SQFT allotted to You shall be credited to Your Virtual SQFT Wallet on the Platform. SQFT are loan units that are representative of Your loan contribution made to the SPV LLP. The number of SQFT issued to You pursuant to contributions made by You in the Investment Opportunity and the face value and market value of each SQFT is displayed to You on Your dashboard on the Platform along with the indicative interest to be received by You. The SQFT can then be transferred digitally on the Platform to other Users, subject to the terms mentioned herein and the Investment Documents. “Investment Documents” shall mean any such documents that need to be executed between You and the SPV LLP or any other parties, in connection with the capital and loan contribution You have made in the SPV LLP and / or transfer/ assignment of the loan.
Upon Your contribution in the SPV LLP’s partnership interest, You will be inducted as a partner in the SPV LLP and be required to execute an LLP agreement with the SPV LLP. The said LLP agreement shall duly capture the partnership rights that You hold in the SPV LLP that You have invested in. The LLP agreement will also provide other rights and obligations You have towards the SPV LLP by virtue of Your partnership rights.
Upon transacting on the Platform and signing the Investment Documents, You also authorize the Company to deduct the transaction fee and all applicable taxes with respect to availing the Services on the Platform. The transaction fee and the applicable taxes for every Private Opportunity shall be displayed on the Platform, applicable to the said transaction.
During the Acquisition Tenor, multiple Private Opportunities for different Properties held / to be held by the SPV LLPs will be available on the Platform. Depending on Your goals, You may choose the Investment Opportunity that is best suited to You.
You cannot participate in Private Opportunity for a particular Investment Opportunity, post the closing date of the Private Opportunity on the Platform.
TradeX:
During the Acquisition Tenor, the TradeX for a particular Investment Opportunity will be available only at the discretion of the Company and /or the Platform. Thus, during the Acquisition Tenor, the Users can participate in TradeX for a particular Investment Opportunity only when the TradeX for such Investment Opportunity is open and available on the Platform, subject to certain restrictions as captured under Clause 2.3 of the Terms. Post the Acquisition Tenor, the TradeX phase for all Investment Opportunities will always be available on the Platform and the Users holding SQFTs can trade in their SQFTs, subject to certain restrictions as captured under Clause 2.3 of the Terms.
If You do not wish or missed out on an opportunity to participate in the Private Opportunity of a specific Investment Opportunity, You may opt to participate in the Investment Opportunity by acquiring SQFTs held by the existing Users/partners of the SPV LLP on the Platform after registering on the Platform during the TradeX phase, at a price of Your choice and as available to purchase from other Users.
You can purchase on the Platform, SQFT of a specific Investment Opportunity, from other Users / partners of the SPV LLP who own such SQFTs, subject to the conditions 4set out under Clause 2.3 below. Upon purchase of such SQFTs, You may choose to sell the same on the Platform to other new Users, existing Users or partners of the SPV LLP. A new User wishing to acquire Your SQFTs would be subject to such new User registering on the Platform in accordance with the Terms.
You can purchase SQFTs only to the extent of the money available in Your Virtual Bank Wallet on the Platform, subject to the conditions set out under Clause 2.3 below. In the event You wish to purchase SQFT for an amount exceeding the balance in Your Virtual Bank Wallet, You will need to transfer an equivalent amount to Your Virtual Bank Wallet from your linked and verified bank account or UPI.
Similarly, You will be permitted to sell SQFT only to the extent of SQFTs which are available in Your Virtual SQFT Wallet, subject to the conditions set out under Clause 2.3 below.
Upon placing a buy / sell order on the platform for the SQFTs related to a specific Investment Opportunity, You will need to indicate the following:
If You choose the “Market Price” option, then You will be authorizing the Platform to execute your buy / sell order, as per the prevailing Market Price of the SQFTs on the given day / time, from a willing seller / buyer on the Platform. The Market Price for each SQFTs on a given day / time shall be displayed on the Platform. The Market Price for each type of SQFTs shall be determined through a proprietary algorithm that will be decided solely by the Company. The algorithm will consider factors such as last traded price, market value of the Property held by the SPV LLP that has issued the SQFTs, anticipated long-term growth rate of the Property values in the country, accrual of anticipated interest payments on SQFTs, liquidity premiums, interest rate movements in the economy, amongst others. Under the Market Price option, the order brokering shall happen at the market price on the day of brokering, which could be different from the Market Price that was displayed on the Platform on the day of placing of the order. As a User of the Platform, You are at liberty to either choose the “Market Price” displayed on the Platform or choose the “Limit Price”. In the event you choose the Market Price, the Platform shall identify a suitable order and execute your transaction request with that of another User, who too has authorized a transaction, at Market Price or in certain scenarios with that of a Limit Price to buy where the price to buy is higher than the prevailing Market Price or a Limit Price to sell where the price to sell is lower than the prevailing Market Price.
If You choose the “Limit Price” option for a buy transaction type, You will be required to mention a specific price of your choice, per SQFT, and authorize the Platform to execute the request from a willing seller with a corresponding transaction request to sell their SQFTs at the Limit Price provided by You or lower. Similarly, if You choose the “Limit Price” option for a sell transaction type, You will be required to mention a specific price of Your choice, per SQFT, and authorize the Platform to execute the request from a willing buyer with a corresponding transaction request to buy the SQFTs at the Limit Price chosen by You or higher.
Once a Sell order meeting the requirement of the Buy Order punched by You is identified, You will receive a confirmation mail. If You reject the identified Sell Order, You will be charged INR 90, and the order will be re-recorded with that day’s timestamp. You can reject identified Sell Orders up to three times, with each rejection updating the order’s timestamp. After three rejections, any unfulfilled portions of the order are canceled. For partially fulfilled orders, each batch follows this process individually. If funds are insufficient after a rejection, additional funds will be requested from You before proceeding with re-identification.
Order expiry: All orders (be it a buy order or sell order), unless a suitable corresponding order is identified and executed on a given day, shall be kept open / live on the Platform for a period not less than 30 days but not more than 1(one) year from the date of the placing the order. You note that unless otherwise mentioned on the Platform, all orders shall be kept open / live for a period of 365 days. All such open orders will be carried forward to the next day and attempted to be identified with a suitable order, unless specifically cancelled by You, on the Platform.
Upon You placing a buy / sell order on the Platform, You will also authorize the Company to deduct a transaction fee and applicable taxes, from the final consideration. The transaction fee and the applicable taxes shall be displayed on the Platform.
Note that the Platform does not facilitate the digital/online transfer of the partnership interest held by the partners of the SPV LLP who invested under the Private Opportunity.
Bulk Order:
You can avail yourself of a discount once Your Purchase Order Trade Value is higher than the Bulk Discount Activation Threshold (which is mentioned on the platform for each Investment Opportunity and shall be subject to change from time to time along with the Bulk Discount %). The Bulk Buy Order Market Price (BBOMP) is a unique price for each Investment Opportunity and is at a discount to the DMP.
Monthly and Daily Saving Plans:
You can also invest through our Monthly and Daily Saving Plans. The Real Estate Monthly Saving Plan (MSP) offered by the platform provides You with the flexibility to invest in real estate through goal-based or city-based approaches, with tenure ranging from 3 to 10 years. The Daily Saving Plan (DSP) provides you with the flexibility to invest in real estate daily, with a specific goal of buying SQFTs on the platform. You must understand that the indicative values, such as the Monthly Saving Amount (MSA) and Daily Saving Amount (DSA) and projected returns, are not guaranteed and may vary based on market conditions. Prices of Property Investment Opportunities (IOs) at the start of the MSP or DSP may differ from those at the time of order execution, and MSP or DSP orders may be partially executed or not executed if there are insufficient funds in the Your Virtual Fund Wallet. Once established, an MSP or DSP’s goals, tenure, and amount cannot be modified, though You retain the right to cancel the same, which will invalidate the auto-debit mandate and cease further fund transfers. The Platform does not guarantee any returns or the redemption value at the end of the MSP or DSP tenure, and You may face illiquidity or price risk when selling Your SQFT. As such, the platform provides no assurances that You will fully achieve Your financial goals by the end of the MSP or DSP tenure.
Community Programs:
Upon the net Users on the Platform reaching a critical mass and meeting certain criteria as prescribed and communicated to You on the Platform, the social commerce and community benefit programs (“Community Programs”) shall commence on the Platform.
Benefits: The Community Programs may include in-person get-togethers and parties, award ceremonies, free gifts such as brand merchandise etc. The Users may also get offers and discounts on certain brands with which the Company has partnered.
The details of the Community Programs will be intimated to all Users through the Platform.
Dashboard of contributions, earnings, and performance of the Properties:
The aforementioned Services facilitated on the Platform as listed under Section 1 is collectively referred to as the “Services”. The Company may, at its discretion, add, modify, or remove any of the Services listed above from time to time.
Earnings on the Platform:
The SQFT are interest bearing and You as the lender on the records of the SPV LLP are entitled to receive periodic distributions on the SQFT held by You.
In addition to the interest on the SQFT, You can also sell Your SQFT to other Users/partners/lenders (existing or new) on the Platform. You can use Our assistance to arrive at the indicative market value for the SQFT by choosing the Market Price option or You may decide to sell / buy the SQFT at any other value as per Your choice, namely the Limit Price option.
You may also be entitled to certain “Benefits” as per the Community Programs that will be conducted by the Company from time to time.
The SPV LLP’s which provides the Investment Opportunity and in which You have invested, shall periodically declare Net Distributable Cash Flow (“NDCF") for a given period, which are to be distributed as interest on the SQFT issued by the SPV LLP, to those who hold such SQFT on a given date as announced by the SPV LLP (“Record Date”). Neither the Platform / nor the Company / nor the SPV LLP guarantees a specific quantum or payment frequency or timeframe or repeatability of such interest distributions to the SQFT holders. As a User of the Platform, You will be eligible to receive distribution amounts on Your SQFT, only if the SPV LLP declares distribution for the SQFT holders and only if you hold such SQFT on the Record Date.
The SPV LLP may also declare profit shares to the partners based on its audited books of accounts and divided payout policies. As a User of the Platform, if you hold partnership rights in the SPV LLPs, then payouts against such partnership interest shall be made to You directly, if applicable, by the SPV LLP based on the instructions issued by You to do the same to the SPV LLP. Neither the Platform / nor the Company / nor the SPV LLP guarantees a specific quantum or payment frequency or timeframe or repeatability of such profit distributions to the partners of the SPV LLP.
It is to be noted that each SQFT has a specific repayment period. On the said repayment date, unless specifically voted for the extension for a longer period, the SPV LLP shall initiate repayment of the face value of the SQFT along with redemption gains, if any. The same shall be elaborated in detail in the Investment Documents, applicable to the specific Investment Opportunity You have participated in.
You will not be eligible for any interest or such other monetary benefits for the funds that you hold in Your Virtual Bank Wallet from the Company / Platform / Other Users of the Platform.
Execution of Investment Documents:
As stipulated above, You are required to execute Investment Documents before You invest in the SPV LLP towards capital and loan, when You trade in Your SQFTs on the Platform. You acknowledge that as per the applicable laws, there are certain documents and agreements that can be executed digitally or physically. Our team will co-ordinate with You for the same for execution of all such Investment Documents and agreements which needs to be executed, whether digitally or physically.
Transfer of SQFTs on the Platform:
All transfers of SQFTs on the Platform shall be effectuated only upon completion of signing of the Investment Documents as requested by the SPV LLP and / or the Company. In this regard, it is further clarified that until the Investment Documents with respect to the transfer of the SQFTs is not executed by all the parties therein, the transfer cannot be construed to be completed.
Upon purchase of the SQFTs from a seller of SQFTs, the purchaser of the SQFTs shall be considered as a lender to the SPV LLP, and all the terms and conditions agreed between the original SQFT holder and the SPV LLP, shall be applicable to the purchaser of the SQFTs as the purchaser is a lender, from the date of the transfer. It is further clarified that where the right and interest in the SQFTs issued to a seller under a Loan Agreement is sold to more than one purchaser on the Platform, each purchaser’s right will only be limited to the SQFTs purchased by such individual purchaser, and not to all the SQFTs issued under the said Loan Agreement. It is further to be noted that the Your right to the SQFTs purchased by You, which are issued under a single Loan Agreement, shall rank pari-passu with respect to other SQFT Holders covered under the same Loan Agreement.
You understand, agree and acknowledge that the transfer of SQFTs on the Platform shall be subjected to the below conditions:
Prior to completion of the Acquisition Tenor:
Post completion of the Acquisition Tenor:
For the purposes of this clause, ‘Super Majority Vote’ shall mean “the affirmative consent of the partners holding more than 76% (Seventy-six percent) of the partnership interest in the SPV LLP.” The consent shall be collected by the SPV LLP by sending notice to the partners. In the event a partner does not respond to the notice within a period of 7 (seven) days, it shall be construed that the partner has provided his/her affirmative consent to the matter.
The successful purchase or sale of an SQFT by you, solely depends on the availability of a willing counterparty to your transaction on the Platform. At no point of time does the Platform or the SPV LLP or its Partners or the Master Property Manager, guarantee the successful execution of your Order to Buy or Order to Sell of a particular SQFT, at a price or time of your choice.
The consideration that is payable by the Purchaser to purchase the Relevant SQFT from the Seller upon completion of Order identification is the “Sale Consideration” for the Relevant SQFT and shall be calculated in the following manner:
The Platform shall freeze an Amount (Blocked Amount) in the Purchaser’s Virtual Bank Wallet on the Platform, when the Purchaser places an OTB on the Platform. The “Blocked Amount” shall mean the amounts calculated in the following manner:
Any difference between the Sale Consideration and the Blocked Amount in the, if applicable, shall be released/refunded by the Platform to the Purchaser, post execution of Order identification.
Transaction on the Platform:
Note that for the purpose of availing Services on the Platform, You are required to have an Indian bank account which needs to be linked and verified during the registration process as detailed in Clause 4 in these Terms. For the purpose of Your bank account verification, You will not be able use a bank account obtained in any other country except in India. You can make payment of the Earnest Money and the Investment Amount or load Your Virtual Bank Wallet for trading purpose by using debit card, Indian credit cards, UPI, net banking only. The Company / Platform, at its discretion may disallow debit card / credit card transactions on the Platform or permit them only with an additional fee payable by You. All the Services offered on the Platform can be undertaken only using Indian Rupees. Payment by way of cryptocurrencies, non-fungible tokens (NFTs) or any other means is not accepted on the Platform.
As part of the Services provided to You, You agree to provide honest feedback/review about the Services, if requested by the Company.
The Company does not: (i) adopt any ‘unfair trade practices’ either on the Platform or otherwise with respect to the Services; and (ii) discriminate between Users of the same class or makes any arbitrarily classification of the Users. The business operated by the Company and business model is completely legal under the applicable laws in India.
You agree and acknowledge that the Company only facilitates the Services on the Platform. The Services availed by You through the Platform are separate from the services or products availed by You from third party service providers. You acknowledge that under no circumstances should You expect the Company to be responsible for any deficiency or failure in the services or products provided to you by the third-party service providers. The services and products provided by third party service providers may be subject to separate terms and conditions or such other agreement between You and the concerned service provider(s), You agree and acknowledge that the Company is neither a party to such terms nor will it be liable thereunder for any reason whatsoever. The Company may club the information about the products or services of different service providers and list them in consolidated manner on its Platform for the benefit and knowledge of the Users.
The use and access to the Platform is available to all resident Indians and or a qualified institutional investor registered in India as per applicable laws who can be legally bound by contract and who are not disqualified or declared incompetent under the Indian Contract Act, 1872. You hereby represent that You are legally qualified to enter a binding contract, are not a person barred from receiving Services from the Platform under the applicable laws or by a regulatory authority, are a resident Indian or a qualified institutional investor registered in India as per the Indian foreign exchange and tax laws..
The Company maintains the right to provide Services to only those Users who are – (a) competent to enter into legally binding contracts, (b) have made the representations as provided above, (c) qualify under the internal policy(ies) for the same determined solely by Us from time to time. We shall have the sole right to change, modify, add, or remove, in whole or in part, internal policy(ies), in relation to the provision of the Services at any time by providing prior written notice or intimation to the Users.
You shall not have more than one active User Account (defined below) on the Platform. Additionally, You are prohibited from selling, trading, or otherwise transferring Your User Account or impersonating any other person for the purpose of creating a User Account on the Platform. You are also prohibited from trading or transferring the SQFTs to another party in any manner except as provided under these Terms.
The Company governs Your access and use of the Platform, which includes any images, text, illustrations, designs, icons, photographs, programs, music clips, downloads, systems, methods of investing and methods of trading, video clips, graphics, user interfaces, visual interfaces, information, data, tools, products, written materials, services and other content, including but not limited to the design, structure, selection, coordination, expression and arrangement of the content available on or through the Platform.
User registration:
To complete the registration to avail Services, You are required to fill in the following details in the user registration form on the Platform:
For completing KYC, an individual User can submit Permanent Account Number (“PAN”) and Aadhaar. The Company will verify the Aadhaar through online verification process using a one-time password (OTP). The Company only stores the verification results and not the Aadhaar number in line with the requirement under the applicable laws. The Company reserves the right to seek such additional information as may be required to complete the registration process.
Institutional Users are required to submit following documents for verification:
Upon the verification of the aforementioned documents are completed, a User account is created on the Platform.
Bank account / UPI verification:
Post creation of the User Account on the Platform, all Users are required to link their Indian bank account details to the Platform. Non-Indian bank accounts cannot be linked on the Platform. More than one Indian bank account can be linked on the Platform.
Upon linking of the bank accounts, You authorize the Platform / Company to verify the details through a penny-drop procedure. Note that each Indian bank account linked to the Platform, needs to be verified using the penny-drop procedure before the investment and trading procedure is initiated. That said, only one Indian bank account linked to the Platform, can be designated as the main bank account on the Platform.
Once the verification is completed, the User gets a unique User ID, Virtual Bank Wallet and Virtual SQFT Wallet along with a unique identification number that is linked to the master escrow account maintained by the Company / the Platform, for holding Your funds and those of other Users.
You may also choose to transfer funds to Your Virtual Bank Wallet, using Your UPI id, on the Platform for investment and trading purpose.
You declare and accept that You shall transfer funds to Your Virtual Bank Wallet on the Platform. In the event the Platform finds out that the funds transferred by You have not originated from Your bank account, then You authorize the Company / Platform to disallow the same and transfer the entire amount back to the originating bank account. In such event, subject to applicable law, You agree and authorize the Company / Platform to reverse a purchase or sale transaction executed by You on the Platform, sell the SQFT, confiscate any funds in / to come in to your Virtual Bank Wallet, in any manner as the Company / Platform deem fits, even if such an attempt results in a significant monetary and / or non-monetary loss to You, so as to enable the Company / Platform to facilitate return of such funds to the originating bank account.
Any amounts or distributions earned on the Platform shall be subject to any deductible fee and charges. All details of Your investments shall be displayed on Your dashboard on the Platform. You can withdraw Your funds from Your Virtual Bank Wallet only to Your linked and verified personal bank account, by placing a ‘Withdrawal’ request on the Platform. All such withdrawals will be permitted only for such amounts that are available in Your Virtual Bank Wallet, post deduction towards transactions pending for execution and post applicable platform fees, taxes and charges.
You can withdraw Your funds from Your Virtual Bank Wallet only to Your linked and verified personal bank account, by placing a ‘Withdrawal’ request on the Platform. All such withdrawals will be permitted only for such amounts that are available in Your Virtual Bank Wallet. Withdrawal amount will be refunded to Your linked and verified personal bank account within 3 working days from the date of Your withdrawal request in the normal course of action. In case of any delaying circumstances like name mismatch in Your bank account and KYC documents, payment gateway issues and other technical / operational issues beyond the control of the Company / Platform, the refund may take further time and the same will be periodically communicated to You.
You may browse certain sections of the Platform without completing the User registration process. However, to avail all the Services on the Platform, You are required to set up an account on the Platform by providing such information as may be required by the Company as provided above (“User Account”). You can access the Platform by logging into the User Account with Your credentials.
You shall ensure and confirm that the User Account information provided by You is complete, accurate and verified. If there is any change in the User Account information, You shall promptly update Your User Account information on the Platform.
If You provide any information that is untrue, inaccurate, not current or incomplete (or becomes untrue, inaccurate, not current or incomplete), or if the Company has reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, the Company has the right to refuse or reject the provision of Services. The Company may seek KYC documents on a periodic basis to ensure that correct details have been provided by You on the Platform.
You will be responsible for maintaining the confidentiality of the User Account information and are fully responsible for all activities that occur under User Account. You agree to immediately notify the Company of any unauthorized use of User Account information or any other breach of security. The Company cannot and will not be liable for any loss or damage arising from Your failure to comply with this provision. You may be held liable for losses incurred by the Company or any other user of or visitor to the Platform due to authorized access or unauthorized use of User Account because of Your failure in keeping User Account information secure and confidential.
You hereby acknowledge and agree that the deletion of the Platform from Your device does not constitute termination of User Account and agree to undertake the process detailed herein to complete the de-registration of User Account (“De-registration”). If and when You are desirous of having Your name and other details removed from the records of the Company, immediately upon receiving Your written request to that effect at Compliance@Altdrx.com, We shall remove and/delete all such information. However, we may retain certain information regarding the User Account, even after removing or deleting Your information as mentioned here, where such retention is required under applicable laws. You hereby acknowledge that the removal of Your details from the Platform does not constitute termination of Your outstanding obligations, if any, to the Company.
Market Risk: Any adverse movement in market sentiments or economic parameters that may affect Your participation in the Investment Opportunity, reducing its value or reducing the income it generated by the same on a periodic basis.
Price Risk: Any upward or downward movement in the value of the Property held by the SPV LLP or any upward or downward movement in the value of SQFTs and / or partnership rights held by You shall affect Your investment. The price of SQFT may or may not be directly co-related to the fair market value or net asset value or Property value and this too may affect Your investment.
Performance Risk: The Property held by the SPV LLP in which You have invested may perform below its optimum performance or perceived potential, earning lesser rents or profits every year, thereby affecting Your investment.
Illiquidity Risk: The SPV LLP may not be able to sell the Property / Properties held by it, thereby affecting its ability to make the repayment of the face value of the SQFT on its maturity. Further there may not be enough buyers or sellers for specific SQFT, thereby affecting Your ability to either sell Your SQFT or buy more of them.
Ecosystem Risk: Real estate investments, in India is subject to change in laws, regulations and rules, including acquisition of property by the government for public utilities, changes in tax laws etc. Such actions may adversely affect the Property as well as the investment made by You.
Legal Risk: Real estate in India suffers from lack of title insurance, opening the Investment Opportunity that You have made to legal disputes after its purchase by the SPV LLP. The Investment Opportunity in which You have participated in, may also be adversely affected by legal disputes with its occupiers, service providers, statutory bodies etc., and affecting Your investment.
Acts of God: Destruction of Property or disruption in its utility due to acts of God may affect Your Investment Opportunity and the investment made by You.
Participation in the Investment Opportunity is subject to the Terms and Platform Privacy Policy available at [Add link to Privacy Policy]. Nothing contained herein shall be construed to mean a public offer or an invitation to make an offer to anyone for investing in any of the Investment Opportunity listed or to purchase or sell securities or a solicitation of any securities transaction or a public offer on the Platform. An offer shall only be considered to be made to such persons to whom the Investment Documents has been provided on a private interaction basis. Any Investment Opportunity listed herein should not constitute a public offer to, or invitation to any person to make an offer to, make an investment in the opportunities or as a solicitation for investments. The Company and the Platform expressly disclaims any obligation to release publicly any updates or revisions to any statement contained in this Terms and assumes no liability or responsibility. No communication made on the Platform or through any other medium, should be construed or is intended to be a recommendation to purchase, sell or hold any securities or otherwise to be investment, tax, financial, accounting, legal, regulatory or compliance advice. Investing in the opportunities requires long-term commitments, the ability to afford to lose the entire investment, and low liquidity needs.
The information provided herein does not take into account the specific objectives or circumstances of You or any particular investor or suggest any specific course of action. There can be no assurance that the opportunities will achieve the objectives or avoid substantial losses. Past performance is no guarantee of future results. Any investment related information contained herein has been secured from sources that the Company believes to be reliable, however the Company or the Platform make no representations or warranties as to the accuracy or completeness of such information and accept no liability therefor. You may find articles or information from third-party media outside of this Platform which may discuss or relate to information contained herein, but the Platform or the Company does not approve and is not responsible for such content. Hyperlinks to third-party sites, or reproduction of third-party articles, do not constitute an approval or endorsement by the Company of any content. The research, forecasts, investment outcomes and other information provided on the Platform are indicative in nature and determined based on assumptions, hypothetical calculations, financial estimates and estimated returns which may fluctuate from time to time depending on business strategies, changes to the Indian economy, market volatility, force majeure events, and any other factors that may be beyond the control. Hence, these should not be construed as a statement of assurance of secured investments or guaranteed returns. Therefore, You must carefully evaluate the investment opportunity, including the complete set of risk factors before investing in any Investment Opportunities listed on the Platform. Before investing in any Investment Opportunities, You should: (i) conduct Your own investigation and analysis; (ii) carefully consider the Investment Opportunity and all related charges, expenses, uncertainties and risks; and (iii) consult with Your own investment, tax, financial and legal advisors.
Transfer of partnership interest: As stated above, You cannot digitally trade in Your partnership rights on the Platform. However, upon completion of 90 (ninety) days from the date of beginning completion of the initial property acquisition period of the SPV LLP (that is 2 years + 3 months from the date of first purchase of the Property), You can transfer Your partnership interest as per the mechanisms prescribed in the appropriate Investment Documents. The Platform may enable a service, where Your interest to sell your partnership interest in a specific LLP SPV shall be communicated to other third parties (may be other partners in that LLP SPV and other Users of the Platform). In the event one of them expresses interest to buy, the Company may render an offline brokerage service to assist you with the transfer process and charge a facilitation fee for the same.
Transfer of SQFT: As stipulated above, You can trade in Your SQFT on the Platform.
Liquidation of the Property: Upon liquidation of the Property, the sale proceeds are to be distributed on a pre-defined repayment basis to the Users holding SQFTs towards the principal amount, redemption premium and any unpaid interest thereof. Upon completion of payment of all the liabilities of the SPV LLP, the partners holding the partnership interest as on the date of the liquidation, may also receive the share of sale proceed basis on their partnership interest holding.
Maturity of the loan also referred to as SQFT (at the end of loan tenure): Depending on the decisions of the management of the SPV LLP (i.e., the partners of the SPV LLP), on maturity of the loan, the SPV LLP may decide to either sell the Properties in order to repay the SQFTs or seek consent from the Users holding the SQFTs, to extend the tenure of the loan or depending on the terms of the Investment Documents, reconstitute the loan into partnership rights. On sale of the Properties, the distribution of sale proceeds to follow the mechanism as stipulated above.
Apart from the above scenarios, there may be certain cases (such as destruction, imminent danger of erosion in the value of the Properties, force majeure etc.) the Properties may be sold at a value as decided by the SPV LLP following due process and the sale proceeds can be distributed on a pre-defined basis as discussed above.
Subject to compliance with these Terms, the Company hereby grants You a non-exclusive, limited privilege to access and use the Platform. You agree to use the Platform only: (a) for purposes that are permitted by the Terms; and (b) in accordance with any applicable law, regulation or generally accepted practices or guidelines. You agree not to engage in activities that may adversely affect the use of the Platform by the Company or other Users.
You agree not to access (or attempt to access) the Platform by any means other than through the interface that is provided by the Company. You shall not use any deep-link, robot, spider or other automatic device, program, algorithm or methodology, or any similar or equivalent manual process, to access, acquire, copy or monitor any portion of the Platform or “Company’s Content”, or in any way reproduce or circumvent the navigational structure or presentation of the Platform, materials or any Company’s Content, to obtain or attempt to obtain any materials, documents or information through any means not specifically made available through the Platform.
You acknowledge and agree that by accessing or using the Platform, You may be exposed to content from others that You may consider offensive, indecent, or otherwise objectionable. The Company disclaims all liabilities arising in relation to such offensive content on the Platform.
Further, You undertake not to host, display, upload, modify, publish, transmit, store, update or share any information that:
You shall be solely responsible for maintaining the necessary computer equipment, mobile device and internet connections that may be required to access, use, and transact on the Platform.
Except as expressly indicated herein, the Company hereby grants You a non-exclusive, freely revocable (upon notice from the Company), non-transferable access to view any Company’s Content available on the Platform, subject to the following conditions:
Your use of the Platform shall be only for personal purposes. Your use of the Platform shall indicate that You have provided consent to automatically receive updates such as bug fixes, patches, enhanced functions, missing plug-ins and new versions (collectively, ‘Updates’), for the purpose of effective delivery of the Services. Please note that Your continued use of the Platform following such Updates would mean deemed acceptance by You of the same.
Any violations of system or network security including attempts to intentionally access a computer without authorization or exceed your authorized access level may result in civil and criminal charges, including but not limited to charges under applicable laws. We may investigate occurrences that might involve such violations and may involve, and cooperate with, law enforcement authorities in prosecuting users who are involved in such violations. We may, without prior notice or warning of any kind, restrict or terminate Your access to the Platform if we reasonably conclude that such restriction or termination is necessary to prevent, or prevent the further spread, of a virus, security breach or system malfunction.
When accessing the Platform, users should be aware that the internet is generally not regarded as a secure environment, and that data sent via the internet can be accessed by unauthorized third parties, potentially leading to disclosures, changes in content or technical failures. Data sent via the internet may be transmitted across international borders even though both sender and receiver are in the same country. We do not accept any responsibility or liability for the security of data while in transit via the internet.
The Platform may contain certain links and activating links on the Platform may cause individual users to leave the Platform. Such links are provided solely for individual users’ convenience and information and using links on the Platform is at Your own risk.
The Platform and the processes, and their selection and arrangement, including but not limited to, all text, reports generated, videos, graphics, user interfaces, visual interfaces, sounds and music (if any), artwork and computer code (and any combinations thereof) and any information or materials uploaded by the Users or information or materials shared by the Users (collectively, the “User Content”) on the Platform is owned and controlled by the Company and the design, structure, selection, coordination, expression, look and feel and arrangement of such User Content is protected by copyright, patent and trademark laws, and various other intellectual property rights. You are not entitled to duplicate, distribute, create derivative works of, display, or commercially exploit the User Content, features or facilities, directly or indirectly, without Our prior written permission. If You would like to request permission in respect of any particular Content, You can contact Us in the manner provided for in these Terms.
The trademarks, logos and service marks displayed on the Platform (“Marks”) are the property of the Company or other respective third parties, as the case may be. You are not permitted to use the Marks without the prior consent of the Company or the third party that may own the Marks.
You agree and acknowledge that the Company reserves the right to use any recourse available to it under applicable laws if it believes that You have infringed any of its intellectual property rights.
You expressly understand and agree that, to the maximum extent permitted by applicable law that:
Platform and other third party contents are provided by the Company on an “as is” basis without warranty of any kind, express, implied, statutory, or otherwise, including the implied warranties of title, non-infringement, merchantability, or fitness for a particular purpose. Without limiting the foregoing, the Company makes no warranty that (i) the Platform or Services will meet Your requirements, or Your use of the Platform will be uninterrupted, timely, secure or error-free; (ii) the results that may be obtained from the use of the Platform will be effective, accurate or reliable; and (iii) any errors or defects in the Platform will be corrected. No advice or information, whether oral or written, obtained by You from the Company shall create any warranty if not expressly stated in the Terms.
Company will have no liability related to any Content arising under intellectual property rights, libel, privacy, publicity, obscenity, or other laws. The company also disclaims all liability with respect to the misuse, loss, modification, or unavailability of any Content.
Company will not be liable for any loss that You may incur because of unauthorized use of User Account or Account information in connection with the Platform either with or without Your knowledge.
Company has endeavored to ensure that all the information on the Platform is correct, but the Company neither warrants nor makes any representations regarding the quality, accuracy or completeness of any data, information regarding the Services or otherwise. The Company shall not be responsible for the delay or inability to use the Platform or related functionalities, the provision of or failure to provide functionalities, or for any information, software, functionalities and related graphics obtained through the Platform, or otherwise arising out of the use of the Platform, whether based on contract, tort, negligence, strict liability or otherwise.
The Company shall not be held responsible for non-availability of the Platform during periodic maintenance operations or any unplanned suspension of access to the Platform that may occur due to technical reasons or for any reason beyond the Company’s control. You understand and agree that any material or data downloaded or otherwise obtained through the Platform is done entirely at Your own discretion and risk, and that You will be solely responsible for any damage to Your computer systems or loss of data that results from the download of such material or data.
These Terms are intended for Users within the territory of India and govern Your rights as per applicable law within the territory of India. However, in the event You fall under a jurisdiction outside the purview of Indian law, the Company will not be liable for any claim, action and/or right initiated/exercised by You as per the extant laws of that area. Therefore, the Company requests You to kindly use the Platform accordingly.
You agree to indemnify, defend and hold harmless the Company, and its affiliates including but not limited to its (and its affiliates’) officers, directors, consultants, agents, representatives and employees (“Indemnitees”) from and against any and all losses, liabilities, claims, damages, demands, costs and expenses (including reasonable legal fees) asserted against or incurred by the Indemnitees that arise out of, result from, or may be payable by virtue of, any breach or non-performance of any representation, warranty, covenant or agreement made or obligation to be performed by You pursuant to these Terms and/or the Privacy Policy. Further, You agree to hold the Indemnitees harmless against any claims made by any third party due to, or arising out of, or in connection with, Your use of the Platform, any misrepresentation with respect to the data or information provided by You, Your violation of the Terms and/or the Privacy Policy, Your violation of applicable laws, or Your violation of any rights of another, including any intellectual property rights.
In no event shall the Company and its officers, partners, consultants, agents and employees, be liable to You or any third party for any special, incidental, indirect, consequential or punitive damages whatsoever, arising out of or in connection with Your use of or access to the Platform or Content on the Platform including but not limited to lost profits, trading losses, unauthorized access, systems failure, internet failure or damages that result from use of the Platform.
The limitations and exclusions in this Section apply to the maximum extent permitted by applicable laws.
If You believe the Platform violates Your intellectual property, You must promptly notify Company in writing at Compliance@Altdrx.com. These notifications should only be submitted by the owner of the intellectual property, or an agent authorized to act on his/her behalf. However, any false claim by You may result in the termination of Your access to the Platform. You are required to provide the following details in Your notice:
You agree that any violation by You of these Terms will constitute an unlawful and unfair business practice, and will cause irreparable harm to the Company, for which monetary damages would be inadequate, and You consent to the Company obtaining any injunctive or equitable relief that they deem necessary or appropriate in such circumstances. These remedies are in addition to any other remedies that the Company may have at law or in equity.
These Terms will continue to apply until terminated by either You or the Company as set forth below. If You object to the Terms or are dissatisfied with the Platform, Your only recourse is to (i) close User Account on the Platform; and/or (ii) stop accessing the Platform.
The Company may delist You or block Your future access to the Platform or suspend or terminate Your Account if it believes, in its sole and absolute discretion that You have infringed, breached, violated, abused, or unethically manipulated or exploited any term of these Terms or the Privacy Policy or anyway otherwise acted unethically. Notwithstanding anything in this clause, these Terms will survive indefinitely unless and until the Company chooses to terminate them.
If You or the Company terminate Your use of the Platform, the Company may delete any Content or other materials relating to You and the Company shall have no liability to You or any third party for doing so. However, Your transactions details may be preserved by the Company for purposes of tax or regulatory compliance. You shall be allowed to take out any money available on Your Virtual Bank Wallet to Your registered bank account in such case.
In the above circumstances, the Company shall provide not more than 7 (seven) days’ notice to You prior to it terminating Your access to the Platform. Upon receipt of such a notice, You are required to immediately sell any SQFT that You may hold in Your Virtual SQFT Wallet, request and transfer any credit balance in Your Virtual Bank Wallet back to Your linked and verified personal bank account, after paying any applicable taxes and platform fees You owe to the Company. In the event, post the expiry of the abovementioned 7 days period, You still have some SQFT or balance in Your Virtual Bank Wallet, then the Company / Platform will initiate the sale of SQFT at the prevailing price from willing buyers and transfer any balance in Your Virtual Bank Wallet, back to Your linked and verified personal bank account, post deduction of applicable taxes and platform fees.
These Terms shall be governed by and constructed in accordance with the laws of India without reference to conflict of laws principles and disputes arising in relation hereto shall be subject to the exclusive jurisdiction of courts at Bangalore, Karnataka, India.
In the event You come across any abuse or violation of these Terms or if You become aware of any objectionable content on the Platform, please report the same to the following e-mail id Compliance@Altdrx.com
You hereby expressly agree to receive communications by way of calls (including using pre-recorded messages or artificial voice), SMS, emails ad/or WhatsApp from the Company and other third parties duly authorized by the Company. You certify, warrant and represent that the telephone numbers and/or email addresses and any other information that You have provided to Us are Your own and are true, accurate, current and complete. You agree to notify Us whenever You stop using a particular telephone number(s) and/or email address(es). You can unsubscribe or opt-out from receiving communications through calls, SMS, e-mail, and WhatsApp anytime by writing to Us at Compliance@Altdrx.com In which case, the Company will only send You communications solely required for the purposes of the Services provided through the Platform.
Grievance Handling: If You have any grievances, or complaints or concerns with respect to the Platform, the Company’s Content, or the Services, You can contact the designated grievance officer of the Company, namely at Compliance@Altdrx.com.
By lodging a complaint or grievance, You agree to provide complete support to the grievance officer and such reasonable information as may be sought by them from You.
All Services on the Platform are provided to You on a principal-to-principal basis between You and the Company. Nothing herein is intended to nor be construed to constitute the relationship of a principal and agent, employer and employee, partners, joint venture, co-owners or otherwise as participants in a joint undertaking or representative of the other for any purpose whatsoever.
Notice: All notices from the Company will be served by email to Your registered email address or by general notification on the Platform.
Assignment: You cannot assign or otherwise transfer these Terms, or any rights granted hereunder to any third party. The Company’s rights under the Terms are freely transferable by the Company to any third party without the requirement of seeking Your consent.
Severability: If, for any reason, a court of competent jurisdiction finds any provision of the Terms, or any portion thereof, to be unenforceable, that provision shall be enforced to the maximum extent permissible to give effect to the intent of the parties as reflected by that provision, and the remainder of the Terms shall continue in full force and effect.
Waiver: Any failure by the Company to enforce or exercise any provision of the Terms, or any related right, shall not constitute a waiver by the Company of that provision or right.
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Disclaimer - *Alt DRX is a platform facilitating access to real estate investment opportunities. We are not a registered broker-dealer or investment advisor. We do not provide personalized investment advice, endorsements, analyses, or recommendations regarding specific investments or securities. Investment decisions are ultimately your responsibility. We encourage you to conduct thorough due diligence, not rely solely on the information presented on this platform, and consider seeking professional advice from a financial advisor, attorney, or other qualified professional to understand and assess the risks associated with any investment opportunity. Alt DRX does not guarantee any specific investment performance, outcome, liquidity or return of capital for any investment opportunity listed on this platform.