ffiJi4Srefl

  t
GRN MHOr2@/X)9420r7r4E
E!.rrr!-r
                                                           CHALLAN
                                                       ulE Fo.h uhb..{

                                  B FcooE i ltlllulllllllrlllll
               l.€IEcero6n nrl Ol F€ol6rE[o
                                                                   EllllllllE     Dlb    l gB'20iS-13:4915




                  sEmp ouv
TyF ol PrlDn F.grdr.d.i F€€

,O 6 l|.fu     AREG-^IJFANOABAD NO 6 SIJB REGIE]FAB                                     i,S   ANAYATA INFAA THROU ARJUN
                                                                                        FAMXR|6HiIA ATXAFE            OTHER
r!..do         AT RAI{O A,iD
                                                                                                                'ND
                                                                                        GUT NO 22d1 Adn@dno r 167.6 Sq Mr



                                                                                        ffi-ieddH6,@r

oofio@t F.oLrdlon F..

                                                                                                                       1




                                                                  PAN2'AFC7A967aO-S@ndPar!            lcNlrlN
                                                                  ATKAFE-C/rE1 1o85o@-iratk€rvE =1 i@som




                                                                                Ftu6 rlkn EEhV Four   Tholsd Th@ Hundt d Aup*


                               INDIAN OVERSEAII BANK                                 FOR USE III FECEVIXG EAiIK

                                                                                          t2ve@o1661e6@61



                                                                                          INOAN OVEFSEAS BANK



                                                                                    Mohl.r,lo,;    97€(Fr5007
 dorEl thr. d.lbr l. vald l4 .b@l!El ro t is!.rtd       h 3ub aLql.tlr olta dly. tlol Elld r@ un !d.b-
                                                                                     doarllat
 i.r<r Edrd &d garr Flis6 uEhaE drtdsn Ezr4{ral t Elrirnn ar{ sne. 4k!ff a EtrroEr ?Eif,rdl irar t6d ddJ



  ch.lLn OGltc.d Dot lb

    1       (s)3.3-ts35
    2       (6F4rl5S5                          m06661GO@01716

                          b-                                       Tor.l I).hdB     Alrunt



                                                                                      D?,)
GY




li-,.,--
                                1


        DEVELOPMENT AGRIEMENT
            Zone No. 20.576 B Rs.7,OOO/-Pe! Sq.Metcr
            Goverrimerrt valuation is Rs. 1, 1O,aS,OOO/-
This Dcwelopment Agreement is qecuted on j 9 day of Mar-2O 1a at


BETWEEN
Mr.Mth Aaaad Atkare
Agei 39 Yeers, Occu: Business
R/o Sarafa Road, Aurangabad.
PAN No-AFCPA9674D.

(Hereinhfter received to as 'Owner', which expression sha-ll
mean a.rld include his successors, legal representatives and
assignees in interest)
                                  .......Partv on the First Part
A.IID
trIl.. A.Eayata lDfre
(PAN No.ABKFA1993R )
A Registered Partrrership Firm
Having.its ollice at
Offrce No. 4, 6 & 6,Plot No. G-8,
Shreyash Plaza, Town Center,
CIDCO, Aurarrgabad-

Through its Partaers & Authorized Signatory
   1. Mr. ArjuE RaEkrtshna Atkare
      Age: 33 Years, Occu: Business
      R/o Plot No. 33, Parijat Nagar, N-3,
      CIDCO, Aurangabad-
      PAN No.AGNPA133aE

   2. Mr.Pratap Aaaad At&are
      Age: 36 Years, Occu: Busirress
                                             9ra
      R/o Sa-rala Road, Aurangabad
      PAN No.AGQPAgsOSQ


(Hereinafter referred to as 'The Developer/Builders, \,vhich
expression shall mea-n and include his successors, legal
representatives arrd assignees in interest)

                                       Partv on the Second Part
WHEREAS Mr.Nitin Anand Atka:re has become the owner &
possessor of tle property land admeasuring 1167.00 Sqrn,
part of Gut No.22O/l situated at Harsool, Auiangabad vide
Registered Partition Deed bearing No. 51Oq dtd., 26.12.t992
& its Registered Correction Deed bearing No. 1532 dated
06.04.199a which is under development & particutarly
described ilr the schedule here under-
                                           2




             That, the psrty on the first part i.e. owrrer has decided to
             develop the said property ttrIough developer and as such the
             approached to the party on t}le second part i.e. developer for
             the development of the above said property. The developer
             decided to develop the said property. It is further agreed
             between the o\rrrers and developer as stated irr this
             a€reement.

             4-    The Owner has           agreed to     authorize the
             Devetoper/Builders to develop the said land describ€d in the
             Schedule hereunder written, by constructing buildings
             (consisting oI flats) thereon on Flat Ownership basis,on the
             following terms and conditions agreed to between the parties
             hereto :
                                                                                       v
             NOW IT IS IIEREBY AGREED BY At{D BETWEEIiI TIIE
             PARTIES IIER.BTO AS FOLI,OWS:
             1.   With a view to develop the said land descr-ibed in the
             Schedule hereunde, ritten (hereinafter referred to as "the
             said propert/) as rnay be Fernitted by all concerned
             authorities, the Owner hereby agrees to entrust end hand
             over to the Developer the property referred under the
             schedule, with work and right of Development of the said
             property described in the Schedule herennder 86 on the terrns
             hereinafter contained.

             2.   The Developer hereby agrees to develop arld or cause to
             be developed the said property land admeasuring 116Z.00
             Sq.mtr, pa-rt of Gut No. 22O/1 situated at Haisool,
             Aurangabad on the terms mentioned herein alld as permitted
             by the concerned authorities b5r constr-ucting flatted building
             thereon on ownership basis. The O.wner agrees that he will
             obl-ain the construction perrnission & other whatever
             permissions required to develop tlle property in his narne & at
             tris own costs ahd on his own fesPonsrbrtlty. It is
                                                                               Re
             agreed by the Owner tlat he shall bea.r end pay
                                                                                6
             charges, costs, expense for corrversion of larrd
             1167.00 Sqm, pa_rt of cut No. 22O / 1 situ;ted at
                                                                                   €
3T trT Tr                     for Non-agricultur:e use and foi o        :N
g1'.b)       o      frolrl_'the Revenue Authority & it is sole responsi    f,,
         q                                                                   nsa
                                                                                  6

RG s
                                             3




          3. In consideration of the development work, t]..e developer
          will constiuct tlre building on the plots referred urrder the
          schedule as per the bye-laws & FSI available witi the present
              no-rrns & this total construction will be shared bjr owner and
              developer in the ratio oI 42 : 58 (the sha-re of ou/rrer will be
              42o/o & the sha-re of developer will be Saolo) & in future
              developer shall obtain revised construction perrnission for
              additional FSI granted by the Aura$gabad Municipal
              Coiporation, 86 this additional construction will also be sha-red
              by oy,rrer and developer in the ratio of 42 | 58. (the share of
              ovrrrer {'ill be 4270 86 the share of developer wiu be 58yo)

          The Developer shall consume the total F.S.I of the property
          under development available as on today. lf in case the F.S.I
          of the property under development is increased in fi-rtuie, tl.e
          Developer can consrune the said F.S.I also at tl..at time a-nd
          additional constnrction will be share 42o/o t\t O],rrers arrd 58o/o
          by Developer. Similarly t]le owner can pr.rrchase the T.D.R. &
          paid FSI and load the sarne on t-l.e said plots under the
          development and made available to the developer for lurther
          development & construction. Owners will be entitled to obtain
          42olo construction from tl:e said additional constructioD.

          It is further agreed in between t].e parties of this development
          Agreement that, the Developer & the Owner Sha[ specifica]ly
          mentioired & identified the 42o/o share of the owlrei & 58 o/o
          share of Developer by execut_ing registered Deed of
          Modification to the Development Agreement & by aivin8
          specifrc Flat Numbers to the each ones share of the owrrer &
          Developer.

                 The detailed plans showing the flat numbers & floors
          sha-ll be a-nnexed witl the said Deed ol Modification to the
          Development Agreement.
      5 ub-
                                                               T[          -€^
,J.   IY s 9
      c$
       It aba6
                     In addition to the terrns and conditions of sa.leable
                consttncted area in consideration of development being
                carried out by the developer, to be shared t5r t]le developer
                and the owner, it is further agreed that the developer shall
                pay ar ainount of RS.1O,OO,OOO/_ (Rupees Ten Lakh onty-)
                towards reflrndable secudty deposit amount, with the ol)r.ner
                and developer in furtherance thereof has already paid sr
                a]rount of RS.1O,OO,OOO/- (Rupees Ten Lal<h only) through
                cheque detailed as below:

                Sr.     AlnouEt la          Date        Chequ6       Ne-Ee of
                No.       Rupees                        NuEber      tho Ba-D&
                      1O,OO,OOO/-       t4l02l2,ora o33165         Ulior Bdak
                                                                     of Indla
                      1O,OO,OOO/-      Total


                      The receipt of the above paJi.rnents is acknowledged by
               the owner. This deposit arnount of RS.1O,OO,OOO/_ (Ruf,€es
               Ten l,akh only) agreed to be given b5r the developer to the
               owner is interest free and relundable to the developer by t}le
               owner upon handing over the agreed 42o/o of the tatal
               constructed saleable area to the owner. The said construction
               shall be simultaneous with the other constiuction to be
               retained by the developer a:od shall be of sarne standard and
               up to the rnark.

               4.   This Agreement will not be treated as a partnership
               between tl..e Owners ald the developer o, an Agreement for
               SaIe of the said Land by t}le Owrters to the Developer-

               It is ftrther agreed in between the parries of rlis development
               Agreement that, after completioo of construction work as per
               the approved map of construction, tl.e Developer shall hand
               over the possession of the Flat to the owners with res
               their share &.the owners shall have absolute right &
               Sale their Flats & to receive independentiy the
                        sold Flat & no consent of the developer shall be
3T rT TT tb             tion of the Sa.le Deeds by the owners
vlE   ,   \J   .24-
                                            5




                  After completion of the construction the developer will
            halld over the finished constructed share of the la.nd ol'tler to
            them & issue t}Ie possession and Occupanq/ certiEcate in
            that regard.
            5.     The Owner has assured that he is the full Ovrner of the
            said property end that the property is not subject to any
            dispute, Uti8ation, rnortgage, charge or any other
            encufiIbrance. In future if arry dispute with respect to the title
            of the property is arises tfre owner shall resolve all the
            disputes at his ow,n cost & make available to the developer the
            cleer, good & marketable title of the property referred under
            the schedule. lf t].e owner failed to resolve the disputes irr
            reasonable period then he shall pay aI the exF,enses/losses to
            the developcr.

            6.   The Developer shall not sta-rt any work of development
            on the said property unless the concern authorities sanction
            the building pla-ns alld other comFletent autiority &
            Commencernent Certifrcate a.re issued in favour of the
            Developer/ Ov".ner.

            7..    WHEREAS, it is decided between t} e parties of this
            development agreernent that the parB. on the second part i.e.
            developer shall construct ard complete the entire project
            rvithin period of 36 months from the date of commencement
            ceitificate/ construction pernrission given by the Municipa_l
            Corporation, Aurangabad. Both the paities of the development
            agreernerrt afe agreed and consented for the sairne, However,
            the said period of construction will be automatically_extended
            in case FSI of the property is fticreased, and arry dispute in
            respect to the prop€rty under development erose, actual
            shortage of water supply for constructioo purpose & the
            construction could not be continued due to any other natural
            calarnities.
       b-
                                                                  h'   a -6*
o
                  g I\
                                                       w8)             g-
Bfl   ffi
       I
      n ab
                                             6




            8.       The development of the said property by construction of
            building or buildings thereon shall be at the entire costs,
            expenses and risk and on tl:e entire account of the Developer.
            All buildings to be constructed on tl'e said property and aI
            dwelling urlits thereon will be in accordaice with the scheme
            of the Competent Authority/State covernment and other
            relevant Acts and also in accordance with the Developrnent
            Rules alld Regulations for ttre time being ir! for.ce.

             The Developer shall be at liberty to Ina].e necess€ly
            applications for the purpose to the authorities concerned in
            the narne of tl..e Owners a:rld the Owners shall join, in such
            applications but the responsibility of obtaining such
            permissions will be on the Developers arrd at his costs.
                                                                                              Y
            9. The developer be entitled to carB/ out arry items of vrork
            for development of rhe said property including Laying of
            drainage, cables, water pipes a]rrd other connections and
            roads 86 lighting oI roads a-rld other items as per the terms
            and conditions imposed by the Aurairgabad Mu:icipal
            Corporation or any other/local authorities while sanctioning
            the layout scheme and the said plans arld also other items of
            works as Inay be required to ca-rry out for the purF,ose of
            making the said property f1t for construction of buildings ald
            str-uctures therein.

             All frnances for completion of the said iterns of works shall be
            provided and borne and paid by the Developer a]one, The
            Owners frereby agrees to render a]l assistance and co-
            operation that Inay be requned h$, the Developer frorn time to
            time to cerrjr out the DevelopmeDt work in respect of t].e said
            property and const-nrction and completion of buildings a,ld
            structures thereon in accordance vaith the terms alrd
            conditions as fray be stipulated by the concerned authori
            srrd in respect of any other matters relating to or ari
            from provided that, the OwTlers shall not be liable
            any finaicial obligadons in that behalf.                                     q?
  ET aT -h*                                                          R,
                                                                    \F
       \p    .z/44                                                        4 u ra n s a
118)
  @         4
          10. The Developer shall be at liberty to seU the constl-ucted
          arealFlats to any of the prospective purchaser, as the
          Developer Inay think flt, to the extent of his share in the
          proposed flatted building to be constnrcted on the property
          plots referred under the schedule. F\rrther The Developer
          shall receive & retain the total consideration arnount, otrt of
          sele oI tl..e flats, to the prospective purchasers, to the extent of
          his sha-re.

          11. The Developer shall be entitted to put uI) and perrnit to
          be put up advertisement boaid upon the said property.

          12- It is agreed in between the parties that, a6 per the
          present area the developer shall obtain the construction
          perrnission from t}'e Aurangabad, Municipal Corporation BE
          shall start the construction, as per the sanctioned plan. If in
          future a-ny additional FSI shal be made available on the
          property referred under tl.e schedule, in that event the owner
          shall pay the required charges for availing the said increased
          FSI & the Developer sl..all construct the additional FSI at his
          own cost & this additiona.l construction wil1 be shared by the
          owner & developer in the ratio as to 42 : 58 referred above.

          13. The Owners declares that no notice Irom the
          governrnent or any local Body or authority including the
          Aurangabad Municipal Corporatiorr have been received by or
          served upon tl.e Owner or any person interested in the said
          property.

          14. The Owner declares
             (a)    That the Owner is entitled to enter into this
                   Agreement with the Developer and he has full right
                   alrd auttrority to sign and execute the same.
                   That the Owner has not agreed, corcJnitted or
$   ffi s z        contracted or entered into any agreement for sele,

    w       Pff
                   sale deed, gift or lease of the said property or any
                        thereof to any persons or person orler tha.rl the
                   Developer arld tlat he has not created aJIy
    n a
                   charge or ary other                        d[
                                                               tr fsaif      6.
                   property as mentioned herein
                                                       nv)
                                                               i-
                                8

   (c)   That the Owner has not done arry act, deed. matter
         or thing wheretiy or by reason whereof, the
         development in t-]le said property rnay be prevented
         or affected in any manDer \,vhatsoever.
   (d)   The o1,Irer hereby assured & states that the property
         under developrnent is not subject to ally acquisition,
         requisition, reservation & also not comes u-rrder any,
         tenancy, protected tenant or arly tenancy law, any
         twe of Inam or Ceiling & it is in t}te permissible
         category of development without a.!ry permission
           from Collector or Govt. except the N. A. permission.
 15. Whereas the Owner assured tl.at the property under
agreernent is free from aI the disputed, litigation, charges &
encunbralces a.tld if arry party clailn any nght or creates
dispute or frle al1y litigation then the O\,vner thernselves shall
                                                                             -Y
clear a.ll the disputes, cha.rges whatever at his own cost a.rld
expenses and also liable to pay the darnages & compensation
to the developer, if he suffered from any, and as well as the
period of development shall extended automatically till the
sort out of all the problems.

16. The StErnp Duty & the Registration chaiges for this
development agreement & the Power of Attorney vrill paid by
the developer.

17. The Developer shall be entitled to enter into separate
contracts in his own narne with buildine contractor, architects
and other for carrying out the said development at his risk
and costs. If any litigation arising between the builder & t}Ie
contractor or technical experts, skilled or unskilled labors or
witl. arly other person in relation to the development of this
property, the ornner shall not be held responsible in any way.

      If any accident or damage is caused to the property or
to the persorr such as labors, engineers or to the property &
person of Deighbors during the development the owirers                9i.
                                                                      tq-
                   in any marner for this mis-


                                                           !o   %
                                                                4 {/ra ng?
                                             9


             18. Whereas the developer can obtain the constiuction
             permission & layout sanctioned from the concern authoritres
             & further can revise, modify, change or elter t] e layout &
             construction plan after taking the necessa4/ construction
             perrnission & sanctioned layout from the competent ar.rttrority
             at his own cost, \Irit}I the consent of the owners,

             19. The Developer/Builders i.e- party on the second part
             c6lr mortgage the flats of his share in the property referred
             under the schedule more perticula.rly describe above to any
             bank or frnancial institute for raising the loan, firtds or
             financial assist from any bank or frnancial institute & the
             owner has consented for the same. The liabitity of the
             paJrment of the loan a.mount whatever taken from arly bank or
             frnancial institute vrill be entireiy in ttre developer only &
             owner will not be liable for tfre sarne.


             20- It is aBreed in between the par'ties tl-.at owner shall
             execute the Registered trrevocable Genersl Power of Attorney
             in favour of the developer in respect of the properties under
             development to authorize him to carry out entire developrnent
             work, & to give al1 the powers required for sale, mortgage the
             property to the extent of his 5870 share in construction.


             21. It is further agreed between t}Ie land owner a.nd
             developer, the developer will pay a.ll the taxes & charges
             towards dewelopment/consb:uction of the building & also
             developer will pay income tax, wealth tax, etc; on the sale oI
             the flats to the extent of his share & similarly t}le owners, u.ill
             pay incolne tax & wealth tax to the extent of his share. It is
             further agreed in between the parties that, the or)!.ner shall
             collect tl.e G.S.T Tax,etc; on the sale of tl1e flats frorn t}le
             prospective purchasers to the extent of their share & handed
             over the said Eunount to the developer for its paJrment to the
                   rn omces
              6q

88,
                   ,ti ,.
                                                       W
                                                           t   !E    +/   r- E
                                                                            .>-_
 *
      ar
       aen
                                  10




22. The Flats to be shared by the oq/Irer & Developer shall
                                                              be
in above proportion on eacl. storey of the construction
building arrd in tle rear & front portion of the building.
23. The Compound Wall sha.U be constxucted around the plot
Adm.I 167 Sq.Mtr by the Owner at his Cost.



              THE SCHEDULE AI}OVE REFERRED TO


A.1l t.l'e part arld parcel of the larrd admeasudng
                                                        1167,00
Sq,rnti, part of Gut No. 22O/1 situated at Harsool,
Aurangabad.                                                        i.,>-
     Eggndarles of the ProperEvi

     East           Rameshwar Nagari Building (project of
                    Sakshshrut Builders 86 Developers
                    Gut No. 221
     South          9.OO Mtr Wide Road

    Norttr          Gut No- 221




                7
                                               11

               INWTNESS WHEREOF THE PARTIES 1IAVE PUT THEIR
               HANDS THE DAY AND YEAR FIRST HEREIN AI}OVE
               lf,rzu'ITEN.

               THE OWNER




               Mr.[itta Aaend At&are

               DEVEI.OPER/BUILDERS

                   M/s.A.E!at Iafia
               Through its P6Jtrrer




                   1l Mr.Arjull RaD.lq.l3hna AtLare




                   2, Mr.Pratep Anard Atkare




                   WITNESSES:.



                   l.Mr.Narendra Ra-rndas ChavaA
                   Age:-34 Occ-Service
                   At. Harsool,Aurangabad.
                                                              -Y   -



                   2.M   Aq ch\o (acoesb po)
                   Age -q9Occ- Ita vrae
                         \s"1
               6
c'@
                     s9
 L                                         ?
      4lJ
        aang
        rndex-2({ff-t)




         lrhililfl Milfl lilllltiillililil]ilt                      (*+.2                   Eqq F-ia_E ,r:-<.ff iiti]rr<I< 6
        19/03/201A                                                                          q<'i"{is 1535/201a
(\.,
                                                                                            Regn.63m

                                                           <rsr+ <r<: E${T
        (1)fr+'qrqr rfirr
        (2)+d.{dr                             1

        (3) arqrcrrr4(qrlqaEcrqr              11085000
       ara€ dq.ar6r{ Brrrr{!ft i+ ff
       c-et-<rr + nt-q FrO

        (a) t-{rq{,qEBqr c !-.rqi$            1 ) crR+i {.a:+Frr{r< q.'r.cr :i= T,iq : . r{.  {lG+ + ;.ii       f{.rr +t rrdr<
                                              <++d ft_df. qrqr r.rc n 220/1 ,r*Ii +a 1162 Aa .1'r 4r --r- i-.,irq 6;;;
                                              ( ( GAT NUMBER :22011 : ) )
       (s) +TF6                               1) 1167.00 +.{}.<
       (6)anFr.!ft f6_dr E+ ircrd q+r
       aEr
       (7) sFt{c 6F{ ?tn-Tr,,BE{             1): ;rrs:fiifi_rr qFiq { +t--{q 39 .r=rr:rd. +. . ,Irr : . :qP++ ir4:
(      bq,n-{r q!r6r.r+ rr{ Ffi-{r'          ditr;i: -, +a + F{mr +s,+hrr{= lr.r'I7 +i.nr-r. Ii- .,_- -4319q1q?i.:,
       frlqnff <rartr<r<r ggvar+r fiF<r
       3llilr lrriqrq,cftaTR+ ird {

       (B)eRt{s 6fi iln-cr qu-6r(r+          1): nra:-+.3r;rr.rdr-r;l5r d+ rrr:fl?rr Tiii rqf.,r 3r{-} .
       { G6_{r Elqrtrfr qrqr{qrqr            , trrdr;r: -, EtrTdtq;rE: -,   al-{ " -, i-t ;i HJ, ri-r{rr-.33:-rT:qrfu+-
                                                                                                          qir,rg 3lri.rErd
       ftic-rrcr fit_{r 3ra{r                Fln 6te--431ool +i;i:-
       {rqrc,clm            irc< E r         2)' ir.l:+.3f;nrr{r rql d+ !rFir-. rrr.T !T- ,r{r', .-- .,,. 1- ,Ttu;i: -,
                                             {rdr +- -, Ecrcifr+ <r4: -, <t6n -, ie a: r'rq, iE..i-r,r"E c"r,rg, d#<.
                                              Ftr+s--431001 +{;i:-
       (9) qRq?q 6r{ REqrqr e<i6             19tO3/2010
       (lo)EF +a,ft +Eqrqr Q-ai6             '19ti3t2018
       (11)qi6qi6,ds q fs                    1535t2018
       (12)qrqr{rrdrsqrt {"i5 {6             554300
       ('r 3)arqraqrareErq      ffi   {Ffi   30000
       (14)i-..


       {-qi6-{rqr& €-qRrd ffiqr

       !"i6 {6 qr6ra{r{r ffii-r              (ii) within the limits of any Municrpat councrt. Nagarpancha\at
                                                                                                                or Canronment
                                             Area annexed io lt, or any rurat area within the limils of the l\,1umrEi