C A P & Co Chartered Accountant Annexure D FORM3 (See Regulation 3) CHARTERED ACCOUNTANT'S CERTIFICATE To, The M/S Shri Sai Builders and developers, Subject : Certificate of Financial Progress of Work of Shreenidhi Estate - V having MahaRERA Registration Number ( Only Applicable after project Registration) being developed by M/S Shir Sai Builders and developers Sir, This certificate is being issued for RERA compliance for the Shreenidhi Estate - V having MahaRERA Registration Number (Only Applicable afler project Registration) being developed by M/S Shir Sai Builders and developers and is based on the records and documents produced before me and explanations provided to me by the management of the Company. Table A- Estimated Cost of the Project (at the time of Registration of Project) Estimated Cost (At the Sr.No. Particulars time of Registration of Project) 1 2 3 i. Land Cost (a) Value of the land as ascertained from the Annual Statement of Rates 6,00,00,000.00 (ASR). (b) Estimated Amount of Premium payable to obtain development rights, FSI. Additional FSI, fungible area. and any other incentive/concession in deficiency 80,00,000.00 under DCR from Local Authority or State Government/UT Administration or any Statutory Authority. (c) Estimated Acquisition cost of TDR (if any). I. (d) Estimated Amounts payable to State Government/UT Administration or competent authority or any other statutory authority of the State or Central 36,30,720.00 Government, towards stamp duty, transfer charges, registration fees etc; and· (e) Estimated Land Premium payable as per annual statement of rates (ASR) for redevelopment of land owned by public authorities. (f) Under Rehabilitation scheme: i. Estimated construction cost of rehab building including site development and infrastructure for the same as certified bv Engineer. - 1 2 3 ii. Estimated 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, amounts payable to slum dwellers. tenants,Apartment owners or appropriate authority or government or concessionaire which are not refundable and so on. iii. Estimated 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 rehabilitation. iv. Any other cost including interest estimated on the borrowing done specifically for construction of rehabilitation component Sub - Total of Land Cost: 7,16,30,720.00 ii. Development Cost/Cost of Construction of Building (a) Estimated Cost of Construction as certified by Engineer. 1,50,00,000.00 (b) Cost incurred on additional items not included in estimated cost (As per engineer certificate) (c) Estimated Expenditure for development of entire project excluding cost of construction as per (i) above, 1.e., salaries, consultants fees, site overheads, development works. cost of services (including water. electricity, sewerage, 50,00,000.00 drainage. layout roads etc.). absorbed cost (attributable to this project) of machineries and equipment including its hire and maintenance costs, consumables etc. (d) Estimated Taxes, cess, fees, charges. premiums, interest etc. payable to any Statutory Authority. (e) Interest payable to financial institutions. scheduled banks, non-banking financial institution (NBFC) or money lenders on construction funding or money borrowed for construction. Sub-total of Development Cost: 2,00,00,000.00 Total Cost of the Project (Estimated) 9,16,30,720.00 *Pass through charges or indirect taxes not included in estimated cost of project. •• Estimated cost shall be revised through correction application. Table B -Actual Cost Incurred on the Project (as on Date of Certificate) Amount (Rs.) S.No Particulars Incurred 1 2 3 Land Cost (a) Value of the land as ascertained from the Annual Statement of Rates 6,00,00,000.00 (ASR). (b) Incurred Expenditure on Premiums to obtain development rights, FSI, additional FSI, fungible area, and any other incentive/ concession in deficiency 91,09,364.00 under DCR from Local Authority or State Government/UT Administration or any Statutory Authority. (c) Incurred Expenditure for Acquisition of TDR (if any). (d) Amounts paid to State Government/UT Administration or competent authority or any other statutory authority of the State or Central Government, 36,30,720.00 towards stamp duty, transfer charges, registration fees etc; and (e) Land Premium paid for redevelopment of land owned by public authorities. (f) Under Rehabilitation scheme: - i. Incurred Expenditure for construction of rehabilitation building. Minimum of(a) or (b) to be considered (a) Cost Incurred for construction of rehab building including site development and infrastructure for the same as certified by Engineer. (b) Incurred Expenditure for construction of rehab building as per the books of accounts as verified by the CA. ii. Incurred Expenditure 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 m lieu of Transit Accommodation. overhead cost, amounts paid to slum dwellers. tenant,;, apartment owners or appropriate authority or government or concessionaire which are not refundable and so on. iii. Incurred Expenditure toward ASR linked premium, fees, charges and security deposits or maintenance deposit, or any amount whatsoever paid to any authorities towards and in project of rehabilitation. iv. Any other cost including interest incurred on the borrowing done specifically for construction of rehabilitation component. Sub - Total of Land Cost: 7,27,40,084.00 1 2 3 Development Cost / Cost of Construction (i) Expenditure for construction. Minimum of (a) and (b) to be considered (a) Construction cost incurred including site development and infrastructure for the same as certified by Engineer (b) Actual Cost of construction incurred as per the books of accounts as 71,78,500.00 verified by the CA. (ii) Cost incurred on additional items not included in estimated cost (As per engineer certificate) (iii) Incurred Expenditure for development of entire project excluding cost of construction as per (i) above, i.e.. salaries, consultants fees, site overheads, development works, cost of services (including water_. electricity, sewerage, 2 drainage. layout roads etc.), absorbed cost (attributable to this project) of 14,08,784.00 machineries and equipment including its hire and maintenance costs, consumables etc. All costs incurred to complete the construction of the entire phase of the project registered. (iv) Incurred Expenditure towards Taxes, cess, fees. charges, premiums, interest etc. to any Statutory Authority. (v) Incurred Expenditure towards Interest to Financial institutions, scheduled banks, non-banking financial institution (NBFC) or money lenders on construction funding or money borrowed for construction. Sub-total of Development Cost : 85,87,284.00 3 Total Cost of the Project (Actual incurred as on date of certificate) 8,13,27,368.00 Proportion of the Cost incurred on Land Cost and Construction Cost to the Total 4 89% Estimated Cost(Table A). 5 Amount which can be withdrawn from the Designated Account. 8,13,27,368.00 6 Less: Amount withdrawn till date of this certificate from the Designated Account - Net Amount which can be withdrawn from the Designated Bank Account under 7 8,13,27,368.00 this certificate *Pass through charges or indirect taxes not included in incurred cost of the project. Table C Statement for calculation of receivable from the sales of the real Estate Project Sold Inventory S.No. Plot No. Carpet Area Unit Considaration as per Agrrement Received Amount Balance Receivable 1 2 516.694 47,75,000.00 47,75,000.00 - 2 6 105 16,39,000.00 16,39,000.00 - 3 10 105 16,95,000.00 16,95,000.00 - 4 12 129.47 11,85,000.00 11,85,000.00 - 5 19 108 13,26,000.00 13,26,000.00 - 6 38 130.341 20,34,000.00 20,34,000.00 - 7 43 125.67 17,59,000.00 17,59,000.00 - 8 56 112.5 15,00,000.00 15,00,000.00 - 9 58 112.5 17,56,000.00 17,56,000.00 - 10 76 112.5 11,00,000.00 11,00,000.00 - Total 1557.675 1,87,69,000.00 1,87,69,000.00 - Unit Considaration as per agrrement /letter of allotment and amount received does not include pass through charges and indirect taxes Unsold Inventory Unit Consideration As per ready S.No Flat No. Carpet Area reckoner Rate 1 1 510.718 64,59,408 2 78 455.986 57,67,174 3 60 146.115 18,48,019 4 61 146.115 18,48,019 5 22 142.27 17,99,388 6 23 142.27 17,99,388 7 68 142.27 17,99,388 8 18 138.225 17,48,228 9 32 137.27 17,36,150 10 33 137.27 17,36,150 11 53 135.885 17,18,633 12 7 134.351 16,99,231 13 27 133.455 16,87,899 14 3 132.27 16,72,911 15 28 130.413 16,49,425 16 8 130.326 16,48,324 17 13 129.47 16,37,498 18 48 129.155 16,33,514 19 77 127.5 16,12,582 20 69 127.27 16,09,673 21 52 126.625 16,01,515 22 17 126.175 15,95,824 23 37 125.954 15,93,028 24 47 125.882 15,92,118 25 42 125.67 15,89,436 26 54 112.5 14,22,866 27 55 112.5 14,22,866 28 57 112.5 14,22,866 29 59 112.5 14,22,866 30 62 112.5 14,22,866 31 63 112.5 14,22,866 32 64 112.5 14,22,866 33 65 112.5 14,22,866 34 66 112.5 14,22,866 35 67 112.5 14,22,866 36 70 112.5 14,22,866 37 71 112.5 14,22,866 38 72 112.5 14,22,866 39 73 112.5 14,22,866 40 74 112.5 14,22,866 41 75 112.5 14,22,866 42 20 108 13,65,952 43 21 108 13,65,952 44 24 108 13,65,952 45 25 108 13,65,952 46 26 108 13,65,952 47 4 105 13,28,009 48 5 105 13,28,009 49 9 105 13,28,009 50 11 105 13,28,009 51 14 105 13,28,009 52 15 105 13,28,009 53 16 105 13,28,009 54 29 101.5 12,83,742 55 30 101.5 12,83,742 56 31 101.5 12,83,742 57 34 101.5 12,83,742 58 35 101.5 12,83,742 59 36 101.5 12,83,742 60 39 101.5 12,83,742 61 40 101.5 12,83,742 62 41 101.5 12,83,742 63 44 101.5 12,83,742 64 45 101.5 12,83,742 65 46 101.5 12,83,742 66 49 90.857 11,49,132 67 50 87.792 11,10,367 68 51 86.908 10,99,186 Total 8597.467 10,87,38,183 Table D Comparison between Balance Cost and Receivables S.No. Particulars Amount 1 2 3 Estimated Balance Cost to Complete the Real I Estate Project (Difference of Total Estimated 1,03,03,352 Project cost less Cost incurred) Balance amount of receivables from sold apartments as per Table C of this certificate 2 (as certified by Chartered Accountant as - verified from the records and books of Accounts) (i) Balance Unsold area (to be certified by Management and to be verified by CA from the 8597.467 records and books of accounts), (ii) Estimated amount of sales proceeds In 3 respect of unsold apartments (calculated as per ASR multiplied to unsold area as on the 10,87,38,183 date of certificate, to be calculated and certified by CA) as per Table C to this certificate Estimated receivables of ongoing project. 4 10,87,38,183 [Sum of 2 + 3(iilll (To Be Filled for Ongoing Projects only) Amount to be deposited in Designated Account - 70°/4, or 100% IF 4 is greater than 1, then 70% of the balance receivables of ongoing project will 7,61,16,728 5 be deposited in designated Account [F 4 is lesser than 1, then I00° of the balance receivables of ongoing project will be deposited in designated Account Table E Designated Bank Account Details Designated Bank Account Details S.No. Particulars Actual Amount till Date (From sta1t of bank account to till date) I. Opening Balance 0 2 Deposits 1,87,69,000.00 3 Withdrawals 85,87,284.00 4 Closing Balance 1,01,81,716.00 I hereby certify that required proportion of money, as specified in the act, collected from allottees of the project unit as indicated in Table C has been deposited in Designated RERA Bank Account. I hereby certify that fiem has utilized the required proportion of money, as specified in the act, collected from allottees for this project only for land and construction of this project. Table F 'Means of Finance Estimated* Proposed/Estimated Actual S.No. Particulars (At time of (As on the date of the (As on the date of Registration) certificate) certificate) (proposed and (In Rs.) (In Rs.) indicative) (In Rs.) I. Own Funds 7,15,30,720.00 - 7,27,40,084.00 Total Borrowed Funds (Secured) 2 - - - - Drawdown availed till date Total Borrowed Funds (Unsecured) 3 - - - - Drawdown availed till date 4 Customer Receipts used for Project 2,01,00,000.00 85,87,284.00 5 Total Funds for Project 9,16,30,720.00 8,13,27,368.00 6 Total Estimated Cost ( As per Table A) 9,16,30,720.00 8,13,27,368.00 Table G Any Comments/Observations of CA Cost of Land is proportionate cost of total land 1 area calculated as per sanctioned layout. All the proposed quantity of Plots are 2 unsold/unbooked as on the date of this certificate. All actual cost incurred considered as per Trial 3 Balance as on the date of this Certificate produced for our verification. Place: NAGPUR Yours Faithfully, For, Shraddha C Date:- 19-09-2025 Purohit & Company Chartered Accountants CA Shraddha Purohit Proprietor M.NO.178380 UDIN:25178380BQZEMI4720 Agreed and accepted by: Signature of Partner Name: SHRI SAI BUILDERS AND DEVELOEPRS Date:19/09/2025