FORM 3 [see Regulation 3] CHARTERED ACCOUNTANT’S CERTIFICATE (On Letter Head) (FOR REGISTRATION OF A PROJECT AND SUBSEQUENT WITHDRAWAL OF MONEY) Cost of Real Estate Project MahaRERA Registration Number_ _ _ _ _ Sr Particulars Amoun . 2 t (Rs.) N Estimate o. d 1 Incurred 3 1 i.Land Cost: a. Acquisition Cost of Land or Development Rights, lease Rs.18200000 Premium, lease rent, interest cost incurred or payable on Land Cost and legal cost. b. Amount of Rs.3345525 Premium payable to obtain develop- ment rights, FSI, additional FSI, fungible area, and any other incentive under DCR from Local Authority or State Government or any Statutory Authority. c. Acquisition cost of TDR (if any) d. Amounts Rs.940000 payable to State Government or competent authority or any other statutory authority of the State or Central Government, towards stamp duty, transfer charges, registration fees etc ; and e. Land Premium payable as per annual statement of rates (ASR) for redevelopment of land owned by public authorities. F. Under Rehabilitation Scheme : 1. Estimated construction cost of rehab building including site development and infrastructure for the same as certified by Engineer. 2. Actual Cost of construction of rehab building incurred as per the books of accounts as verified by the CA. Note : (for total cost of construction incurred, Minimum of (i) or (ii) is to be considered). 1.Cost towards clearance of land of all or any encumbrances including cost of removal of legal/illegal occupants, cost for providing temporary transit accommodation or rent in lieu of Transit Accommodation, overhead cost, 2. Cost of ASR linked premium, fees, charges and security deposits or maintenance deposit, or any amount whatsoever payable to any authorities towards and in project of rehabilitatio n. SUB TOTAL of LAND COST ii. Development Cost/ Cost of Construction: a. i. Estimated Cost of Construction as Rs.28288000 certified by Engineer. ii. Actual Cost of construction Rs.22500000 incurred as per the books of accounts as verified by the C A . Note: ( for adding to total cost of construction incurred, Minimum of (i) or (ii) is to be considered). iii. On-site Rs.1200000 expenditure for development of entire project excluding cost of construction as per (i) or (ii) above, i.e. salaries, consultants fees, site overheads, development works, cost of services (including water, electricity, sewerage, drainage, layout roads etc.), cost of machineries and equipment including its hire and mainten- ance costs, consumables etc. All costs directly incurred to complete the construction of the entire phase of the project registered. b. Payment of Taxes, cess, fees, charges, premiums, interest etc. to any statutory Authority. c. Principal sum and interest payable to financial institutions, scheduled banks, Rs.18500000 non-banking financial institution (NBFC) or money lenders on construction funding or money borrowed for construction ; Sub-Total of Development Cost Rs.70473535 2 Rs70473535 Total Estimated Cost of the Real Estate Project [1(i) + 1(ii)] of Estimated Column. 3 Rs.46115925 Total Cost Incurred of the Real Estate Project [1(i) + 1(ii)] of Incurred Column. 4 80% % completion of Construction Work (as per Project Architect’s Certificate) 5 65% Proportion of the Cost incurred on Land Cost and Construction Cost to the Total Estimated Cost. ( 3/2 %) 6 Amount which can be withdrawn from the Designated Account. Total Estimated Cost * Proportion of cost incurred ( Sr. number 2 * Sr. number 5) 7 Less: Amount withdrawn till date of this certificate as per the Books of Accounts and Bank S t a t e m e n t . ¦ÉÉMÉ nùÉäxÉ-----37 7 8 Net Amount which can be withdrawn from the Designated Bank Account under this certificate. This certificate is being issued for RERA compliance for the Company [Promoter’s Name] and is based on the records and documents produced before me and explanations provided to me by the management of the C o m pa n y . Yours Faithfully, Signature of Chartered Accountant (Membership N u m b e r ………….) (ADDITIONAL INFORMATION FOR ONGOING PROJECTS) 1 58557600 Estimated Balance Cost to Complete the Real Estate Project (Difference of Total Estimated Project cost less Cost incurred) (calculated as per the Form IV ) 2 11555000 Balance amount of receivables from sold apartments as per Annexure A to this certificate(as certified by Chartered Accountant as verified from the records and books of Accounts) 3 13348792 (i) Balance Unsold area (to be certified by Management and to be verified by CA from the records and books of accounts) ii.Estimated amount of sales proceeds in respect of unsold apartments (calculated as per ASR multiplied to unsold area as on the date of certificate, to be calculated and certified by CA)as per Annexure A to this certificate 4 24903792 Estimated receivables of ongoing project. Sum of 2 + 3 (ii) 5 Amount to be deposited in Designated Account – 70% or 100% IF 4 is greater than 1, then 70 % of the balance receivables of ongoing project will be deposited in designated Account IF 4 is lesser than 1, then 100% of the of the balance receivables of ongoing project will be deposited in designated Account This certificate is being issued for RERA compliance for the Company [Promoter’s Name] and is based on the records and documents produced before me and explanations provided to me by the management of the Company. Yours Faithfully, Signature of Chartered Accountant, (Membership Number………….) ______________________ Name ANNEXURE A Statement for calculation of Receivables from the sales of the ongoing Real Estate Project. SOLD INVENTORY Sr.No. Flat Carpet Unit Received Balance No. Area consideration Amount Receivable (in Sq.Mtrs.) as per Agreement 1 103 61.065 Rs.5200000.00 Rs.4620000.00 Rs.580000.00 2 201 84.964 Rs.7000000.00 Rs.6500000.00 Rs.500000.00 3 301 33.212 Rs.5675000.00 Rs.5175000.00 Rs.500000.00 4 302 51.926 Rs.4500000.00 Rs.3000000.00 Rs.1500000.00 5 303 55.622 Rs.4000000.00 Rs.3500000.00 Rs.500000.00 6 401 33.212 Rs.5675000.00 Rs.5175000.00 Rs.500000.00 7 402 51.926 Rs.4200000.00 Rs.3300000.00 Rs.900000.00 8 403 55.622 Rs.6550000.00 Rs.5100000.00 Rs.1450000.00 9 501 33.212 Rs.5675000.00 Rs.5175000.00 Rs.500000.00 10 502 51.926 RS.3125000.00 RS.2000000.00 RS.1125000.00 11 503 55.622 Rs.3400000.00 Rs.3000000.00 RS.400000.00 12 601 33.212 Rs.2300000.00 Rs.500000.00 RS.1800000.00 14 702 105.548 Rs.4400000.00 Rs.3500000.00 Rs.900000.00 Unsold Inventory Valuation Ready Recknor Rate as on the date of Certificate of the residential premises Rs.52800/- per sq.mtrs. Sr.No. Flat Carpet Area Unit consideration as per Ready Recknor No. (in Sq.Mtrs.) Rate (ASR) 1 101 52.629 RS.2778811 2 102 61.459 RS.3243452 3 602 105.548 RS.5572935 4 701 33.212 RS.1753594