| SVS&ASSOCIATES :0240-2345644 Cell :9588474614 Chartered Accountants B-1, Shrirang Pride, Opp. Guru Teg Bahadur High School Playground, New Osmanpura, Aurangabad-431 005. FORM-3 CHARTERED ACCOUNTANT'S CERTIFICATE (To be submitted at the time Registration of Project and for withdrawal of Money from Designated Account. ) Cost of Real Estate Project 'Aakash Ganga - Phase Il' of 'M/s.Aakash Ganga Developers' at 102, Veer Shanti, Kranti Chowk, District Chhatrapati Sambhajinagar, PIN 431005. Registration Number : P51500054973 To, Date: 21/07/2025 M/s.Aakash Ganga Developers, 102, Veer Shanti, Kranti Chowk, ChhatrapatiSambhajinagar-431005. Subject:Certificate of Financial Progress of Work of 'Aakash Ganga - Phase ll', having MahaRERA Registration by M/s.Aakash Ganga Developers for Q3 of FY 24-25 No. P51500054973 being developed Sir, This Certificate is being issued for RERA Compliance for the 'Aakash Ganga Phase ll', having MahaRERA developed by M/s.Aakash Ganga Developers and is based on the records and documents produced before usRegistration No. P51500054973 being and explanations provided to us by the partners of the firm. Table A- Estimated Cost of the Project (At the Time of Registration of Project) Sr. No. Particulars Estimated Cost 1 i. Land Cost: (Rs.)* (In Rs.) ** Value of the Land as ascertained from the Annual Statements of Rates (ASR) 53,75,000.00 b Estimated Amount of Premium Payable to obtain Development Rights, FSI, Additional FS., 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). d. Estimated Amounts Payable toState Government/UT Administration or Competent Authority or 2,50,000.00 |Any 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 jof 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 |removalof 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. ii) 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 LAND COST 56,25,000.00 A N FRU NO31(TW ChhShoa it, Development Cost/Cost of Construction of Building: 2 1.53,00,000.00 a. n Estimated Cost of Construction as Certifiedby Engineer. 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 10,50,000.00 l(ii) above, i.e. Salaries, Consultants Fees, Site Overheads, Development Works, Cost of Services (including Water, Electricity, Sewerage, drainage, Layout Roads, Etc.), absorb 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 to any Statutory Authority. 17,50,000.00 |Interest Payable to Financial Institutions, Scheduled Banks, Non-Banking Financial Institution (NBFC) or Money Lenders on Construction Funding or Money borrowed for Construction; 1,81,00,000.00 Sub-Total of Development Cost Total Estimated Cost of Project 2,37,25,000.00 *Pass through charges or indirect taxes not included in estimated cost of project. Table B- ActualCost Incurred on the Project (As on 31/12/2024) Sr. No. Particulars Incurred Amount till 31/12/2024 (In Rs. )* i. Land Cost : a. ** Value of the Land as ascertained from the Annual Statements of Rates (ASR) 52,75,000.00 b Incurred Expenditure on Premium Payable to otbtain Development Rights, FSI, Additional FSI, Fungible Area, and Any Other Incentive/ Concession in deficiency under DCR from Local Authority or State Government/ UTAdministration or any Statutory Authority. C. Incurred Expenditure on Acquisition Cost of TDR (if any). d. Amounts Paid to State Government/UT Administration or Competent Authority or Any Other 2,36,100.00 Statutory Authority of the State or Central Government, towards Stamp Duty, Transfer Charges, Registration Fees etc; and e Land Premium Paid as per Annual Statement of Rates (ASR) 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 lconsidered a) Cost incurred for construction of rehabilitation building including site development and infrastructure for the same as certified by Engineer. jb) Incurred Expenditure for cost of construction rehabilitation building incurred as per the |books of Accounts as verified by CA. iü) Incurredexpenditure towards clearance of land of all or any encumbrances including cost of removal of legat/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. ifi) Incurred expenditure towards 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 incurred on the borrowing done specifically for construction of rehabilitation component. Sub Total LAND CoST 55,11,100.00 SAS FRN NO.167M Chh.S o n i a g hartere Acco ii, Development Cost/Cost of Construction of Building: 2 Expenditures for Construction. Minimum of (a) and (b) to be considered 1,00,94,929.78 Ta) Constructions Cost Incurred including site development and infrastructure for the same as 1,10,00,000.00 lcertified by Engineer. Jb) Actual cost of construction incurred as per the books of accounts as verified by the CA. 1,00,94,929.78 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 7,76,989.88 |(ii) above, i.e. Salaries, Consultants Fees, Site Overheads, Development works, Cost of |Services (including Water, Electricity, Sewerage, drainage, Layout Roads, Etc.), absorb 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 entire phase of the project registered. iv) |Incurred Expenditure on Taxes, Cess, Fees, Charges, Premiums, Interest etc to any Statutory |Authority. V) |Incurred Expenditure towards Interest Paid to Financial Institutions, Scheduled Banks, Non Banking Financial Institution (NBFC) Or Money Lenders on Construction Funding or Money borrowed for Construction; 1,08,71,919.66 Sub-Total of Development Cost 3 Total ActualCost of Project ( ActualCost Incurred as on 31.12.2024) 1,63,83,019.66 4 Proportion of the Cost incurred on Land Cost and Construction Cost to 69.05% the Total Estimated Cost. 1,63,83,019.66 Amount which can be withdrawn from the Designated Account. 66,33,200.00 6 "Less: Amount withdrawn till date of this certificate From Designated ACcount. (as per explanations & information provided) Net Amount which can be withdrawn from the Designated Bank Account 97,49,819.66 under this certificate. * Pass through charges or indirect taxes not included in incurred cost of project. Table C (Statement for calculation of Receivables from the Sales of the Real Estate Project) SOLD INVENTORY Flat No, Carpet Area Unit Consideration as per Received Balance Receivable Sr. No. (in Sq. Mtrs. ) Agreement /Letter of Allotment* Amount* 1 25 57.33 30,00,000.00 17,85,660.00 12,14,340.00 2 31 56.18 25,00,000.00 5,00,000.00 20.00.000.00 3 34 79.41 28,50,000.00 5,91,000.00 22,59,000.00 4 35 79.41 28,50,000.00 26,50,000.00 2,00,000.00 5 36 79.95 37,00,000.00 34,30,000.00 2,70,000.00 Total 352.28 1,49,00,000.00 89,56,660.00 59,43,340.00 Unit consideration as per agreement/ letter of allotment and amount received does not include pass through charges and indirect taxes. AASS0C FRN NO.N3167W Chh SanL (UNSOLD INVENTORY VALUATION) Ready Reckoner Rate as on the Date of Certificate of the Residential Premises Rs. 26,900/ Sq. Mtr. Row House Nos. Carpet Area (Sq. Mtrs.) Unit Consideration as per Ready Reckoner Rate (In Rs.) SK.No. 26 56.18 15,11,242 27 56.18 15,11,242 2 15,11,242 28 56.18| 3 15,11,242 4 29 56.18 30 56.18 15,11,242 5 32 56.18 15,11,242 6 33 79.41 21,36,129 1,12,03,581.00 416.49 Table D Comparison between Balance Cost & Receivables 73,41,980.34 1 Estimated Balance Cost to complete the Real Estate Project i(Difference of total estimated project cost less cost incurred) 59,43,340.00 2 Balance Amount of Receivables from sold apartments as per Table C to this Certificate (as verified from records and books of accounts) 416.49 Sq. Mtrs.# 3.(i) Balance Unsold Area (Details regarding unsold flats/shops/offices etc. and carpet area of the same have been considered as per information provided by the partners of the firm) 1,12,03,581.00 3(i1) Estimatedamount of Sales Proceeds in respect of Unsold Apartments (Calculated as per ASR multiplied to Unsold Area as on the Date of Certificate) (Ready Reckoner Rates as on the date of Certificate have been provided by the partners of the firm) As per Table C to this Certificate. Estimated Receivables of Ongoing Project. Sum of 2+ 3(ii) 1,71,46,921.00 5 |Amount to be Deposited in Designated Account- 70% or 100% 70.00% (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 balance receivables of ongoing project will be deposited in designated account) SVs ND FRN NoD157W m Chh Sauno |INe:ydi rter Acc Table E Designated Bank Account Details Particulars Bank Name: Saraswat Bank, Bank Alc No.: 610000000024102, IFSC Code : SRCBO000090,Address: No. Station Road, ChhatrapatiSambhajinagar. Actual Amount till Date (from start of bank account to till date) (Balance is taken as per unaudited trial balance produced before us ) |"Bank Balance given below is subject to reconciliation. Opening Balance 66,33,200.00 Deposits 66,33,200.00 Withdrawals 4 Closing Balance in the act, collected from allottees of the project unit as indicated in Table E | hereby certify that required proportion of money, as specified has been deposited in designated RERA Bank Account. specified in the act, collected from has utilized the required proportion of money, as Ihereby certity that M/s.Aakash Ganga Developers allotters for this project unit only for land and construction of this Project. Table F Means of Finance Proposed/ Actual Sr. No. Particulars Estimated* Estimated (as on 31.12.24) (at the time of registration) (as on 31.12.24 (In Rs.) (in Rs.) (Proposed and indicative) (in Rs.) 74,75,000.00 97,49,819.66 74,75,000.00 1 Own Funds Total Borrowed Funds (Secured) -Drawdown availed till date 3 Total Borrowed Funds (Unsecured) Drawdown availed till date 1,62,50,000.00 66,33,200.00 Receipts used for 1,62,50,000.00 4 Customer Project 2,37,25, 000.00 2,37,25,000.00 1,63,83,019.66 5 Total Funds for Project 2,37,25,000.00 2,37,25,000.00 2,37,25,000.00 6 Total Estimated cost as per Table| A N D ASSOC FRN NO23167W SAS Chh.Soktuajin3q3 hartered Ac oN NOTES Ae certificate is being iSSued for RERA Compliance for 'M/s.Aakash Ganga Developers' located at '102, Veer Shanti, Krant Chowk, Chhatrapati Sambhajinagar 431005' and is based on the records, documents and estimations produced before us and lexplanations/information's providedto us by the partners of the firm. The value of land COst ascertained is at actual purchase cost. s The Estimated Cost as Certified by the Engineer includes the cost of Internal and External Development Works including Amenities and Facilities and excludes the Land Cost. Unsold Inventory Valuation is worked out on the basis of ready reckoner rate as provided by the partners of the firm. 5 The Details of Inventory sold, if any & unsold inventory as stated in "Table C" are taken on the basis of informations made available to us by the partners of the firm. 6 |It is explained to us by the partners of the firm that the project shall be developed in 04 phases although Building Plan lCommencement Certificate has been sanctioned for the entire project in total. This certificate is made w.r.t registration of Phase |project only. the time of actual execution of sale 7 |It is explained to us by the partners of the firm that unit consideration may differ at deed/agreernent to sale at their sole discretion. 8 Figures as put in Table B-2(i)(a) are taken on the basis of the Engineer's Certificate 9 |** The amounts of Cost Incurred are taken from Following Remark Sr. No. Financial Year 1 2023-24 Unaudited Trial Balance provided by partners of the firm. 2024-25 Unaudited Trial Balance provided by partners of the firm. Table G Any Comments/0bservations of CA Remarks Observations Sr. No. NA 1 For SVS & Associates Chartered Accountants Firm Reg. No.123164W SSOCI FRN No.123167W Chh. Samhbaogdi CA Santosh Garud Partner lar Cred te Acco Membership No.111035 UDIN :25111035BMGJJO9175 Agreed and Accepted by : Signature of Promoter (For & Behalf of M/s.Aakash Ganga Developers) Narme : Kiran Patil Date : 21/07/2025