Annexure D FORM 3 (See Regulation 3) CHARTERED ACCOUNTANT'S CERTIFICATE (To be submitted at the time of Registration of Project and for withdrawal of Money from Designated Account) To, Date: 11/07/2024 M/s. Shiv Realities, Nagpur. Subject: Certificate of Financial Progress of Work of "Shiv Ganga Park B-Wing" having MahaRERA Registration Number NA being developed by M/S. Shiv Realities through Partner Mr. Gajanan Warambhe. Sir/ Madam, This certificate is being issued for RERA compliance for the "Shiv Ganga Park B-Wing" having MahaRERA Registration Number NA being developed by M/S. Shiv Realities through Partner Mr. Gajanan Warambhe 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) Sr. No. Particulars Estimated Cost (At the time of Registration of Project) -1 -2 -3 i. Land Cost (a) Value of the land as ascertained from the Annual Statement of Rates (ASR). 6,00,00,000.00 (b) Estimated Amount of Premium payable to obtain development rights, FSI. Additional FSI, fungible - area. And any other incentive/concession in deficiency under DCR from Local Authority or State Government/UT Administration or any Statutory Authority. (c) Estimated Acquisition cost of TDR (if any). 1,83,75,782.00 (d) Estimated Amounts payable to State Government/UT Administration or competent authority or any 37,53,600.00 other statutory authority of the State or Central 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 by Engineer. 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 licu 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 ofrehabilitation. iv. Any other cost including interest estimated on the borrowing done specifically for construction of - rehabilitation component Sub-Total of Land Cost: 8,21,29,382.00 ii. Development Cost/Cast of Construction of Building (a) Estimated Cost of Construction as certified by Engineer. 25,00,00,000.00 (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) 50,00,000.00 above, i.e. salaries, consultants fees, site overheads, development works, cost of services (including water, electricity, sewerage, 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. 5,00,000.00 (e) Interest payable to financial institutions, scheduled banks, non-banking financial institution (NBFC) 50,00,000.00 or money lenders on construction funding or money borrowed for construction. Sub-total of Development Cost: 26,05,00,000.00 Total Cost of the Project (Estimated) 34,26,29,382.00 *Pass through charges or indirect taxes not included in estimatedcostofproject **Estimated cost shall be revised through correction application. Table B-Actual Cost Incurred on the Project (as on Date of Certificate) -1 -2 -3 Land Cost (a) Value of the land asascertained from the Annual Statement of Rates (ASR). 6,00,00,000.00 (b) Incurred Expenditure on Premiums to obtain development rights, FSI additional FSI, fungible area, - and any other incentive/ concession in deficiency under DCR from Local Authority or State Government/UT Administration or any Statutory Authority. (c) Incurred Expenditure for Acquisition of TDR (if any). 1,83,75,782.00 (d) Amounts paid to State Governmenu/UT Administration or competent authority or any other statutory authority of the State Central Government, towards stamp duty, transfer charges, registration fees etc; and 37,53,600.00 (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 in licu of Transit Accommodation, overhead cost, amounts paid to slum dwellers. tenants, 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: 8,21,29,382.00 2 Development Cost/Cost of Construction (i) Expenditure for construction Minimum of (a) and (b) to considered - (a) Construction cost incurred including sitedevelopment and infrastructure for the same as certified by - Engineer. (b) Actual Cost of construction incurred as per the books of accounts as 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, drainage. layout roads etc.), absorbed cost (attributable to this project) of 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 2,96,013.00 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: 2,96,013.00 3 Total Cost of the Project 8,24,25,395.00 (Actual incurred as on date of certificate) 4 Proportion of the Cost incurred on Land Cost and Construction Cost to the Total Estimated 24% Cost(Table A). 5 Amount which can be withdrawn from the Designated Account. 8,24,25,395.00 6 Less: Amount withdrawn till date of this certificate from the Designated Account. - 7 Net Amount which can be withdrawn from the Designated Bank Account under this certificate. 8,24,25,395.00 *Pass through charges or indirect taxes not included in incurred cost of the project. Table C Statement for calculation of Receivables from the Sales of the Real Estate Project Sold Inventory S. No. flat No. Carpet Area (in.sq.mtrs) Unit Consideration as Received Balance per Agreement/Letter of Amount* Receivables Allotment -1 -2 -3 -4 -5 -6 0 Total 0.000 0.000 0.000 0.000 *Unit consideration as per agreement/letter of allotment and amount received does not include pass throughcharges and indirect taxes Unsold Inventory 39150 S. No. Flat No Carpet Area (in.sq.mtrs) Unit Consideration as per Ready Reckoner Rate -1 -2 -3 -4 1 101 76.097 2979198 2 102 74.815 2929007 3 103 55.897 2188368 4 104 56.765 2222350 5 105 57.037 2232999 6 106 57.587 2254531 7 107 57.587 2254531 8 201 76.097 2979198 9 202 74.815 2929007 10 203 55.897 2188368 11 204 56.765 2222350 12 205 57.037 2232999 13 206 57.587 2254531 14 207 57.587 2254531 15 301 76.097 2979198 16 302 74.815 2929007 17 303 55.897 2188368 18 304 56.765 2222350 19 305 57.037 2232999 20 306 57.587 2254531 21 307 57.587 2254531 22 401 76.097 2979198 23 402 74.815 2929007 24 403 55.897 2188368 25 404 56.765 2222350 26 405 57.037 2232999 27 406 57.587 2254531 28 407 57.587 2254531 29 501 76.097 2979198 30 502 74.815 2929007 31 503 55.897 2188368 32 504 56.765 2222350 33 505 57.037 2232999 34 506 57.587 2254531 35 507 57.587 2254531 36 601 76.097 2979198 37 602 74.815 2929007 38 603 55.897 2188368 39 604 56.765 2222350 40 605 57.037 2232999 41 606 57.587 2254531 42 607 57.587 2254531 43 701 76.097 2979198 44 702 74.815 2929007 45 703 55.897 2188368 46 704 56.765 2222350 47 705 57.037 2232999 48 706 57.587 2254531 49 707 57.587 2254531 49 Total 3050.50 119426879.25 Table D Comparison between Balance Cost and Receivables S. No. Particulars Amount -1 -2 -3 1 Estimated Balance Cost to Complete the Real Estate Project (Difference of Total 260203987.00 Estimated Project cost less Cost incurred) 2 Balance amount of receivables from sold apartments as per Table C of this certificate 0.00 (as certified by Chartered Accountant as verified from the records and books of Accounts) 3 (i) Balance Unsold area (to be certified by Management and to be verified by CA from 3050.50 the records and books of accounts). (ii) Estimated amount of sales proceeds in respect of unsold apartments (calculated as 119426879.25 per ASR multiplied to unsold area as on the date of certificate, to be calculated and certified by CA) as per Table C to this certificate 4 Estimated receivables of ongoing project. [Sum of 2 + 3(ii))] 119426879.25 5 (To Be Filled for Ongoing Projects only) Amount to be deposited in Designated Account - 70% or 100% IF 4 is greater than 1, 0.00 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 balance receivables of ongoing project will be deposited in designated Account Table E Designated Bank Account Details S.No. Particulars Actual Amount till Date (From start of bank account to till date) 1 Opening Balance 0.00 2 Deposits 0.00 3 Withdrawals 0.00 4 Closing Balance 0.00 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 M/S. Shiv Realities through Partner Mr. Gajanan Warambhe. 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 S.No. Particulars Estimated* Proposed / Actual Estimated (At time of Registration) (As on the date (As on the date (In Rs.) (proposed and of the of certificate)(In indicative) certificate) (In Rs.) Rs.) 1 Own Funds 223202502.75 223202502.75 82425395.00 2 Total Borrowed Funds (Secured) 0.00 0.00 - less: Drawdown availed till date 0.00 0.00 - 3 Total Borrowed Funds (Unsecured) 0.00 0.00 - less: Drawdown availed till date 0.00 0.00 - 4 Customer Receipts used for Project 119426879.25 119426879.25 - 5 Total Funds for Project 342629382.00 342629382.00 82425395.00 6 Total Estimated Cost (As per Table A) 342629382.00 342629382.00 342629382.00 Table G Any Comments/Observations of CA 1 For A M Dabke & Associates Chartered Accountants Agreed & Accepted By- M/s. Shiv Realities, Mr. Gajanan Warambhe (Partner) CA Amey Dabke M No 170917 Date: 11.7.2024 UDIN: 24170917BKELXG1243 Date: 11/07/2024