1 Who we are and who this applies to
1.1 Mahendra Developers is a partnership firm registered under the Indian Partnership Act, 1932 with registration number [1], of Queen Corner, Second Floor, Office No. 202, Amrapali Marg, D-Block, Vaishali Nagar, Jaipur, Rajasthan 302021. We are registered as a real estate agent with the Rajasthan Real Estate Regulatory Authority under number [2].
1.2 These terms apply to any user who subscribes and registers to bid, and operate together with the Platform Terms, the Privacy Policy, the Subscription Terms and the Auction Rules.
1.3 Contact: info@mahendradevelopers.com. Our Grievance Officer is named in Clause 10.
2 Our role, and its limits
2.1 We introduce sellers and bidders, verify listings to the standard in Clause 5, host the auction and coordinate closing.
2.2 We are never the buyer, seller, lessee, tenant, licence-holder or guarantor in any transaction listed here. The sale document is executed directly between you and the seller. We are not a party to it.
2.3 We do not provide legal, tax, valuation, structural or investment advice.
2.4 No money belonging to you or to any seller passes through our accounts. We receive only our own subscription income.
3 What is required before you may bid
3.1 You must be 18 or older and competent to contract, hold a current subscription, have completed identity verification, and have accepted the Auction Rules for the listing concerned.
3.2 No deposit is taken. We do not collect earnest money at any stage. Nothing of yours is held by us and nothing of yours is at risk of forfeiture.
3.3 We may decline or suspend your registration where identity cannot be verified, where due diligence cannot be completed, or where you have previously won an auction and failed to complete.
4 A bid is a binding offer
4.1 Placing a bid is a binding offer to purchase at the amount bid, and is irrevocable once placed. It cannot be withdrawn, amended or reduced.
4.2 Where your bid is the highest at or above the seller's reserve price when the auction closes, it is accepted and a binding contract for sale arises between you and the seller at that price.
4.3 Where bidding closes below the reserve price, no contract arises and you are under no obligation.
4.4 For business listings, a first-round indicative offer is expressly non-binding. Only a final-round bid binds you, and you will be given clear written notice before that round opens.
5 What we check, and what we do not
5.1 Before a listing goes live we verify title documents and current tax receipts for property, and the lease and landlord position, licence inventory and transferability, asset schedule, financial information and staff particulars for a business.
5.2 Our verification confirms that documents produced are facially genuine, internally consistent, and consistent with the relevant authority's record on the date of checking. We disclose what it established, including findings unfavourable to the seller.
5.3 It is not a valuation, a structural or technical survey, a guarantee of marketable title, or a warranty as to the future performance of a business.
5.4 Every listing is sold as-is, where-is. You are expected to inspect and take your own professional advice before bidding. We will help arrange inspection on reasonable notice.
6 If you win
6.1 You must complete within the window published for that listing, being [3] days for property and [4] days for a business.
6.2 In addition to your bid you are responsible for stamp duty, registration charges, transfer and licence fees, and your own professional costs.
6.3 You pay the purchase price directly to the seller, or through an escrow arrangement you and the seller appoint between yourselves.
6.4 For business listings you acknowledge that most licences do not transfer and must be applied for afresh in your own name, that the expected timeline is disclosed before bidding, and that managing it is your responsibility.
7 If you win and do not complete
7.1 We will give you written notice of the default and not less than [5] days to remedy it or explain the delay.
7.2 Where the delay arises from a cause outside your control — a pending lender no-objection, a licensing authority's processing time, a landlord's delay — a reasonable extension will be granted rather than a default declared.
7.3 Where the default is not remedied or reasonably explained, you will be liable to pay the seller the sum stated on the listing page. That sum is a genuine pre-estimate of the seller's loss — the asset having been off the market and the cost of re-running the auction. It is compensatory, not a penalty, and is recoverable only to the extent of loss actually sustained, consistent with Section 74 of the Indian Contract Act, 1872.
7.4 We hold no money of yours and therefore forfeit nothing. This is an obligation between you and the seller, which the seller may pursue directly. We will provide the seller with the auction record on request.
7.5 The listing may also be re-offered to the next-highest bidder or re-auctioned at the seller's election, and your ability to bid may be suspended.
8 Your conduct
8.1 You must not bid without the intention and ability to complete; coordinate bidding with another bidder to distort the price; bid on a listing in which you or a connected person have an interest as seller; use automated bidding tools not provided by us; or approach a seller to transact outside the platform.
8.2 For business listings you must not approach the seller's staff, landlord, suppliers or customers directly. All contact runs through us.
8.3 Breach may result in bids being voided, the subscription being terminated without refund, and suspension from the platform.
9 Anti-money-laundering
9.1 For bids at or above ₹50,00,000 you must complete a source-of-funds declaration and disclose whether you bid for yourself or for another person. Undisclosed beneficial ownership is not accepted.
9.2 We retain these records for five years and may decline, delay or unwind a transaction where due diligence cannot be completed to our reasonable satisfaction.
10 Liability, grievances and disputes
10.1Nothing excludes liability for fraud, wilful default, gross negligence, or any liability that cannot lawfully be excluded.
10.2Subject to 10.1, our aggregate liability to you is limited to the subscription fees actually received from you in the twelve months before the claim.
10.3Subject to 10.1, we are not liable for the acts or omissions of a seller, a landlord declining consent, a licensing authority's decision, the condition or future performance of an asset, or your own failure to carry out due diligence.
10.4Our Grievance Officer is [6], at [7] and [8]. We acknowledge within 24 hours and resolve within 15 days.
10.5Governed by the laws of India. Commercial disputes may be referred to arbitration under the Arbitration and Conciliation Act, 1996, sole arbitrator, seat Jaipur, in English.
10.6Consumer rights preserved. Nothing in 10.2, 10.3 or 10.5 requires a user who is a consumer within the meaning of the Consumer Protection Act, 2019 to arbitrate, or prevents them from approaching a Consumer Disputes Redressal Commission, or limits any right that cannot lawfully be limited.
11 Changes
11.1We may amend these terms on notice. Amendments do not apply to an auction already open; the version you accepted before bidding governs that auction to completion.