Terms & Conditions

Vamadev Ventures Private Limited · Last updated: 13 October 2026

Please read these Terms carefully. By accessing or using www.vamadev.com (the "Site"), our mobile application, or by enquiring about or applying for VAMADEV Ownership, you agree to be bound by these Terms. If you do not agree, please do not use the Site.

1. Who We Are and Key Terms

These Terms are a legally binding agreement between you and Vamadev Ventures Private Limited ("VAMADEV", "we", "us", "our", the "Company").

"You" means any person who accesses the Site or app or applies for or holds VAMADEV Ownership, including a visitor, User, Owner, Listing Agent, Associate or Channel Partner.

"VAMADEV Ownership" means a fractional share in a holiday or secondary home, held as a shareholding in a designated special purpose vehicle ("SPV") that owns the property, together with a contractual right to use the property for a fixed number of days each year.

"Management Company" means VAMADEV Ventures Private Limited or its associated SPV, company, LLP or other legal entity appointed to manage the property.

"Guest" means anyone who stays at a property through an Owner's booking.

2. About VAMADEV

VAMADEV is a proptech platform that enables like-minded people to jointly acquire holiday and secondary homes by dividing the total cost of a property (including base selling price, stamp duty, registration and furnishing costs and in-unit equipment) into equal fractions.

The property is registered in the name of the designated SPV, and each Owner is admitted as a shareholder of that SPV.

VAMADEV acts as an asset and property manager. We do not own, underwrite or co-own the listed properties directly or indirectly. Listed properties are third-party assets.

Information on the Site, including brochures, prices, images, availability and offers, is indicative and may change without notice.

3. Eligibility and Enrolment

You must be at least 18 years old to become an Owner.

You must complete and submit the enrolment application in the prescribed form, personally or through an authorised representative, and pay the application fee.

The application fee is non-refundable, whether or not the application is accepted, except where we ourselves decline the application for a reason not attributable to you.

We may refuse any application, including where required to do so by law or by any governmental, judicial, regulatory or law-enforcement authority.

Your ownership takes effect on the date we notify you by e-mail.

A company, partnership, trust, unincorporated association or other entity must hold ownership through a neutral person nominated to represent it.

Up to two co-owners living at the same address may hold one VAMADEV Ownership and must nominate a lead owner as principal contact. We may take instructions from, and share information with, either co-owner. If we receive conflicting instructions, we may act on the first instruction received and, if conflicts continue, suspend or cancel exchange privileges at our reasonable discretion (with an appropriate refund).

Where a VAMADEV Ownership is held by co-owners, all co-owners are jointly and severally liable for all instalments, charges, penalties and other dues.

You must keep your address and contact details current and promptly inform us in writing of any change, supported by valid KYC documents.

4. Usage Rights

Each VAMADEV Ownership carries 30 days of usage per year. The days cannot all be taken at once; each stay must be a minimum of 2 nights / 3 days and a maximum of 7 nights / 8 days.

Usage rights are personal to the Owner, granted on a purely contractual basis, and are non-transferable, non-assignable and non-poolable except as expressly permitted.

You are admitted as an Owner, and entitled to usage and other benefits, only after the entire amount and instalments under your chosen payment plan are realised and the unit becomes operational.

Occupancy limits: 3 BHK – 6 adults and 2 children; 2 BHK – 4 adults and 2 children; 1 BHK – 3 adults, or 2 adults and 2 children; Studio – 2 adults and 1 child. Children above 12 years count as adults, and two children below 12 count as one adult.

You may not sub-let, license or commercially exploit your usage days yourself, including by listing the unit on Airbnb or any other rental or travel platform. Unused days may be monetised only through the Company's rental mechanism. A breach entitles us to suspend your usage rights and claim the revenue generated.

5. Booking and Holiday Cancellation

Bookings are made through the digital dashboard and are subject to availability and eligibility. You may book your own unit up to 365 days ahead, and VAMADEV community units up to 60 days ahead, for stays of 2 nights / 3 days to 7 nights / 8 days.

You have no right of entry to any property without a confirmed booking. A booking is confirmed only when you receive written confirmation, including by e-mail. Please check every detail and tell us promptly of any error.

Holiday booking cancellation (deduction of room nights): more than 30 days before check-in – no deduction; 30 days or less – 25% of room nights; 21 days or less – 50%; 7 days or less, or later – 100%. A non-refundable administrative or processing fee, as notified from time to time, is deducted on every cancellation in addition.

If you do not check in, the booking shows as occupied, the nights are debited, and we are not liable to provide other accommodation or compensation. If you will arrive late, inform the on-site manager; otherwise we may release the booking without compensation. Where a unit is only partly used because of late check-in or early departure, the days debited follow the original booking.

If we cannot provide the stay after issuing a confirmation voucher, we will provide alternate accommodation, and the confirmed nights will be debited to your account.

Exchange requests depend on availability and are not guaranteed. Exchange accommodation may differ in size, design, furnishing and amenities from your own unit.

6. Payments

Payments are accepted by cheque or draft in favour of "Vamadev Ventures Pvt. Ltd.", or by credit or debit card, bank transfer, UPI and similar methods. Cash payments, and cheques or drafts not in our favour, are at your own risk.

We recognise a payment only against an official receipt issued by us.

Quote your booking details on every bank transfer or cheque. You bear your own bank's charges on payments you make and refunds you receive.

Any payment is first applied to the booking fee, and the balance to your entitlement. Part payments toward dues are applied first to interest, then to earlier dues, then to penalties and late-payment charges, and finally to principal, regardless of any instruction from you.

Refunds are made in the same manner and currency as the original payment.

Late instalments carry interest or penalty of 11% per annum on the overdue amount. Overdue Annual Management Charges carry 24% per annum. Each accrues independently, and dues of one kind are not set off against the other except at our discretion. Time is of the essence for all payment obligations.

If all co-owners are not on-boarded within 180 to 365 days (depending on the property type specified at booking), we will return your booking amount with interest at 11% per annum.

If you hold more than one VAMADEV Ownership, a default on one is a cross-default on all. We may set off any amount you owe against any amount we or the SPV owe you, and hold a first lien over your shareholding until all dues are cleared. You will reimburse our reasonable recovery costs, including legal fees.

7. Ownership Costs and Management Charges

Maintenance, repair, breakage, renovation, upgrades and government taxes for a property are borne by the shareholders of its SPV collectively, in proportion to their shareholding. This liability is several, not joint. The Company and the Management Company have no personal liability for these costs.

The Management Company provides property management services, including reservations, 24x7 concierge, housekeeping, inspections and repairs, accounting records, guest conveniences and marketing of the unit.

Owners pay an Annual Management Charge (AMC) for these services whether or not usage rights are used in a given year. The charge covers, among other things, upkeep and replacement of the unit and its furnishings, statutory compliance, running of the SPV, concierge and housekeeping, and any sinking fund the Management Company maintains.

The AMC is due on 31 March of the year after purchase (or on completion of purchase, whichever is later) and is payable in the mode and within the time stated on the invoice.

Increases are intended to stay within the weighted average rate of inflation. A larger increase may be proposed, and an independent accountant appointed by the Management Company will assess whether it is reasonable. Owners may not withhold or delay payment while a dispute is pending.

If you do not pay the AMC on time, we may cancel your usage rights.

If in any financial year you use fewer than 10 of your 30 days and we cannot provide at least 33% occupancy in the property, we will waive the AMC for that year, provided you made a written request for usage that we could not honour. This waiver does not apply where you did not use your days for any other reason.

8. Rental of Unused Days

We may rent out the property on a short-term, BnB or long-term basis when Owners are not using it, and may market unused days through any online travel platform or channel.

Rental revenue is collected by the Management Company and, after deducting property expenses (such as builder's maintenance, electricity, applicable taxes and repair or wear-and-tear costs), is distributed to Owners at the end of the financial year, after the SPV's balance sheet is prepared (by July each year), depending on the number of unused days.

Rental income is not assured. Returns depend on market conditions, occupancy and average room rate.

9. Lock-in, Cancellation and Refund

The booking amount is earnest money. If you cancel after paying it, the earnest money is forfeited. You have a free-look period of 14 days from the date of onboarding.

There is a 3-year lock-in from the date of possession of the property. If you exit during the lock-in, you receive the amount deposited (excluding government taxes) less 20% of the VAMADEV value as cancellation charges. Applicable taxes, cess, levies and processing costs are borne by you and are not refundable.

If you miss three consecutive instalments, we may cancel your allotment and refund 50% of the amount paid, within 90 working days after possession of the property. If you have paid regularly and cancel for personal reasons, we refund the amount deposited in the SPV less 20% of the amount paid to date, within 90 working days of the cancellation communication. We need not send a reminder before cancelling for non-payment.

10. Transfer and Right of First Refusal

After the lock-in, you may transfer your VAMADEV Ownership (a shareholding transfer), subject to our transfer charge, currently a 10% fee on the profit earned at the time of resale.

If you wish to sell outright, you must first offer your VAMADEV Ownership to the Company at the appropriate market rate. Only if we decline in writing may you sell on the open market, and we will assist for an appropriate service charge. Our determination of the market rate and our decision to accept or decline are final.

We do not undertake to pay rent for, buy back, sell or arrange the exchange of your VAMADEV Ownership without your consent. Gifting is your responsibility, and we accept no liability for it.

You may not deal with the SPV, the builder or developer, or another Owner so as to bypass the Company on resale, private rentals or any transaction on which a fee is payable to us. If you do, we may recover the fee we would have earned as liquidated damages.

On the death of a shareholder, the appointed nominee automatically acquires ownership. On a change of marital status you should update your nominee promptly. Until a valid updated nomination is received in writing, we may rely on the last nomination on record.

11. Stay Rules and Owner Conduct

You and your Guests must follow the in-house rules and bye-laws of the property and observe check-in and check-out times.

You are responsible for any damage caused by you or your Guests, and for replacing missing items. Occupants pay applicable taxes, personal expenses, utilities, deposits and charges for amenities.

Entry may be refused to anyone who cannot verify identity with a valid passport, driving licence or other government-issued ID.

The number of occupants, including babies and children, must not exceed the unit's maximum occupancy.

We may suspend or cancel your usage rights for violation of house rules, or for conduct likely to harm the Company's reputation. For a substantial breach, we may suspend usage rights by written notice, and you may be required to leave the property immediately. If the breach is not remedied within 14 days, we may continue the suspension indefinitely.

12. Nature of the Offering and Risk Disclosures

Please read this section carefully.

VAMADEV Ownership is a shareholding in an SPV coupled with a contractual usage right. It is not a deposit, security or investment product, and carries no assurance of capital appreciation, guaranteed income, buy-back or liquidity.

VAMADEV does not promise or commit any assured rentals or capital gains. Returns are organic and depend on market sentiment, occupancy and average room rate.

The arrangement is structured on the basis that it is not a collective investment scheme under the SEBI Act, 1992 and the SEBI (Collective Investment Schemes) Regulations, 1999, and not a REIT or SM REIT.

The Company is not the "promoter" of the underlying real estate project under RERA. Promoter obligations rest with the builder or developer. We are not responsible for any loss, damage, delay or misconduct by builders or promoters of listed properties.

Non-Resident Indians, Overseas Citizens of India and other persons subject to FEMA or RBI rules are solely responsible for their own compliance and approvals.

Property insurance is maintained by the SPV or Management Company. If the property is lost or damaged, our obligation is limited to passing on the insurance proceeds actually received (after reasonable recovery costs), pro rata to shareholding. Any shortfall is borne by the Owners in proportion to their shareholding.

Use of the property and its facilities, including any pool, gym or recreational area, is at your own risk.

You should conduct your own due diligence. Do not rely on any projection, illustration or oral assurance from a sales representative or Channel Partner.

If an SPV has negative cash flow in a financial year, the liability rests with the SPV and not with the Owners. A Director may, at their discretion, provide an interest-free loan to the SPV, repayable without interest when the SPV can pay. This is not a guarantee of any minimum return, capital protection or bail-out, and may be varied or discontinued at any time.

13. Limitation of Liability and Disclaimer

Accommodation and amenities are provided "as is" and "as available". We give no warranty, express or implied, on availability, quality or suitability, including merchantability or fitness for a particular purpose.

To the fullest extent permitted by law, we are not liable for any special, indirect, incidental or consequential damages arising from VAMADEV Ownership, the unit, or any alleged deficiency in service.

The aggregate liability of the Company and the Management Company to an Owner, in contract, tort or otherwise, will not exceed the AMC actually paid by that Owner in the financial year in which the claim arose.

For use of the Site and app, our liability will not exceed the amount (if any) you paid us in the preceding 12 months. The Site and app are provided "as is" and "as available", without warranty of uninterrupted or error-free operation. Use of any third-party link is at your own risk.

We are not liable for any failure to perform caused by war, civil commotion, force majeure, act of God, any court or government order, or any other cause beyond our control.

Nothing in these Terms excludes liability that cannot be excluded under applicable law.

14. Use of the Site

You may use the Site only for lawful purposes and in accordance with these Terms. You must give accurate, complete information, and you are responsible for the accuracy of any KYC document you submit.

Do not upload content that is trademarked or copyrighted by a third party without authority. We cannot verify ownership of uploaded content. You are solely responsible for what you upload and will indemnify us for any resulting claim. We may remove such content without notice and suspend or terminate the responsible account without liability.

"VAMADEV" and all related names, marks, logos and content on the Site belong to the Company. You may not use them commercially, or in a way that suggests endorsement, partnership or affiliation beyond being a VAMADEV Owner, without our written consent.

You consent to our using your name, photographs and testimonials (excluding financial details) in our marketing, unless you object in writing, after which we will stop within a reasonable time.

You agree to keep the commercial terms of your ownership, including pricing, discounts and rental payouts, confidential, except for disclosure to professional advisers bound by confidentiality.

15. Privacy and Communications

We collect and process your personal data to provide the products and services you request, to administer your ownership, to keep you informed of offers (unless you opt out), and for market analysis and operational reviews. We process personal data in accordance with the Digital Personal Data Protection Act, 2023 and its rules, and retain it only as long as reasonably necessary for these purposes or as required by law.

We share personal information with the property management service provider to facilitate bookings you request, and with associated companies and service providers (such as resorts, owners' associations, management companies, insurers, travel and transport suppliers) where necessary to provide services you or your Guests request or to verify your ownership. We otherwise do not disclose your information without your consent, except where required by law or to protect the rights, property or personal safety of another Owner.

We will make every effort to keep your information safe. Information is displayed on the Site only with your consent. We are not liable for unauthorised access caused by circumstances beyond our reasonable control, including a breach at a third-party hosting or payment provider.

You allow us, our associates and authorised third parties to contact you by post, e-mail, telephone (including automated dialling and pre-recorded messages), SMS and similar means about your ownership, payments, bookings, offers and promotions, even if your number is registered under TRAI rules. You may opt out of promotional communication at any time by writing to us.

When you send an enquiry through the Site, you agree that we may add your e-mail address to our database of users.

16. General Terms

Entire agreement. These Terms, together with the Owner Agreement, enrolment form and schedules, are the entire agreement between you and the Company and supersede all brochures, marketing material and earlier discussions. Promises or assurances by any person outside these Terms are not binding on the Company.

Indemnity. You will indemnify the Company, the Management Company, the SPV and their directors, officers and employees against losses, damages, costs, claims and expenses (including legal fees) arising from your or your Guests' breach of these Terms, damage to the property, or inaccurate or misleading information or KYC documents you provide.

No partnership. Nothing creates a partnership, joint venture, agency or fiduciary relationship between you and the Company, the Management Company or the SPV, or among Owners.

Assignment. We may assign, novate or transfer our rights and obligations, including in a restructuring, on notice to you. You may not assign or create any third-party interest in your VAMADEV Ownership except as these Terms permit.

Amendments. We may amend these Terms, the schedules and any policy referred to in them, including the cancellation and refund policy and management charges, by notice on the Site or by e-mail. Your continued use of the Site or retention of VAMADEV Ownership after notice means you accept the amended terms.

Notices. Notices are validly served if delivered by hand, registered post, courier or e-mail to your last recorded address or e-mail. They are deemed served immediately if delivered by hand or e-mail, and 3 business days after dispatch if sent by registered post or courier.

Waiver and severability. A delay or failure to exercise a right is not a waiver. If any provision is held invalid or unenforceable, the rest remains in force.

Survival. Provisions on indemnity, confidentiality, limitation of liability, non-circumvention, intellectual property and dispute resolution survive termination or cancellation.

Electronic acceptance. Acceptance by digital or electronic signature or click-through is valid execution under the Information Technology Act, 2000.

17. Governing Law and Dispute Resolution

These Terms are governed by the laws of India.

Any dispute arising out of these Terms or your dealings with us will be referred to arbitration under the Arbitration and Conciliation Act, 1996. The venue is Lucknow. The arbitrators are nominated by both parties, that is, by the Board of Directors of the Company and by the Owner(s) concerned. Proceedings are in English or Hindi, and the award is binding.

Subject to the above, the Civil Courts at Jaipur have exclusive jurisdiction over matters that cannot be referred to arbitration and for interim relief. The Company may seek injunctive relief for breach of confidentiality, intellectual property or non-circumvention terms without proving inadequacy of damages or posting a bond.

18. Grievance Officer and Contact

In accordance with the Information Technology Act, 2000 and the Digital Personal Data Protection Act, 2023, our Grievance Officer's name and contact details are published on this Site and updated from time to time.

Vamadev Ventures Private Limited Grievance Officer: [Sanjeev Pant] E-mail: [vamadevventures@gmail.com] Phone: 8905990992 Registered office: [H-25, chitranjan marg, c-scheme, Jaipur 302001]