YASH S SHAH & ASSOCIATES CHARTERED ACCOUNTANTS Flat No 8, Bhagwat Sadan Chs, Plot No 35, Manikrao Lotlikar Road, Near Sahakari Bhandar, Matunga, Mumbai Maharashtra - 400019. Mobile No: +91 9762727545 || Email: cayashshah07@gmail.com FORM-3 [ see Regulation 3] CHARTERED ACCOUNTANT’S CERTIFICATE for ‘‘MONSOON MEADOWS’’ (Progress Report as on 31/03/2019) Cost of Real Estate Project MahaRERA Registration Number P51600007396 Date of Issuance – 15/12/2024 To, MR. ANKIT NITIN KOTHARI Subject: Certificate of financial progress of work of MONSOON MEADOWS having MAHA RERA Registration No - P5160007396 being developed by MR. ANKIT NITIN KOTHARI Sir, This certificate is being issued for RERA Compliance for the Project – MONSOON MEADOWS having MAHA RERA Registration No -P51600007396being developed by MR. ANKIT NITIN KOTHARI and is based on the records and documents produced before me and explanation provided me by the management of the firm as on 31/03/2019. TABLE A – Estimated Cost of Project (at the time of Registration of Project) Sr. Particulars Amount (Rs.) No. (2) Estimated (3) (1) 1 i. Land Cost a. Acquisition Cost of Land or Development Rights, lease Premium, lease rent, interest cost incurred or payable 10,70,000.00 on Land Cost and legal cost. b. Amount of Premium payable to obtain development rights, FSI, additional FSI, fungible area, and any other incentive under DCR from Local Authority or State 0.00 Government or any Statutory Authority. c. Acquisition cost of TDR (if any) 0.00 d. Amounts payable to State Government or competent authority or any other statutory authority of the State or Central Government, towards stamp duty, transfer 0.00 charges, registration fees etc ; and e. Land Premium payable as per annual statement of 0.00 rates (ASR) for redevelopment of land owned by public authorities. f. Under Rehabilitation Scheme: (i) Estimated construction cost of rehab building 0.00 including site development and infrastructure for the same as certified by Engineer. (ii) Actual Cost of construction of rehab building 0.00 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). (iii) Cost towards clearance of land of all or any 0.00 encumbrances including cost of removal of legal/illegal occupants, cost for providing temporary transit accommodation or rent in lieu of Transit Accommodation, overhead cost, YASH S SHAH & ASSOCIATES CHARTERED ACCOUNTANTS Flat No 8, Bhagwat Sadan Chs, Plot No 35, Manikrao Lotlikar Road, Near Sahakari Bhandar, Matunga, Mumbai Maharashtra - 400019. Mobile No: +91 9762727545 || Email: cayashshah07@gmail.com (iv) Cost of ASR linked premium, fees, charges and 0.00 security deposits or maintenance deposit, or any amount whatsoever payable to any authorities towards and in project of rehabilitation. Sub-Total of Estimated Land Cost 10,70,000.00 ii. Development Cost/ Cost of Construction: a. (i) Estimated Cost of Construction as certified by Engineer. 2,07,51,000.00 (ii) Cost incurred on additional items not included in estimated cost (As per engineer certificate) 0.00 (iii) On-site 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 25,00,000.00 equipment including its hire and maintenance 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. 2,00,000.00 c. Principal sum and interest payable to financial institutions, scheduled banks, non-banking financial institution (NBFC) or money lenders on construction 44,79,000.00 funding or money borrowed for construction; Sub-Total of Estimated Development Cost 2,79,30,000.00 TOTAL ESTIMATED COST (LAND + DEVELOPMENT COST) 2,90,00,000.00 TABLE B – Actual Cost Incurred on the Project as on 31/03/2019 Sr. Particulars Amount (Rs.) No. (2) Estimated (3) 2 i. Land Cost a. Acquisition Cost of Land or Development Rights, lease Premium, lease rent, interest cost incurred or payable 10,70,000.00 on Land Cost and legal cost. b. Amount of Premium payable to obtain development rights, FSI, additional FSI, fungible area, and any other incentive under DCR from Local Authority or State 0.00 Government or any Statutory Authority. c. Acquisition cost of TDR (if any) 0.00 d. Amounts payable to State Government or competent authority or any other statutory authority of the State or Central Government, towards stamp duty, transfer 0.00 charges, registration fees etc ; and e. Land Premium payable as per annual statement of 0.00 rates (ASR) for redevelopment of land owned by public authorities. f. Under Rehabilitation Scheme: (i) Estimated construction cost of rehab building 0.00 including site development and infrastructure for the same as certified by Engineer. YASH S SHAH & ASSOCIATES CHARTERED ACCOUNTANTS Flat No 8, Bhagwat Sadan Chs, Plot No 35, Manikrao Lotlikar Road, Near Sahakari Bhandar, Matunga, Mumbai Maharashtra - 400019. Mobile No: +91 9762727545 || Email: cayashshah07@gmail.com (ii) Actual Cost of construction of rehab building 0.00 incurred as per the books of accounts as verified by the CA. (iii) Cost towards clearance of land of all or any 0.00 encumbrances including cost of removal of legal/illegal occupants, cost for providing temporary transit accommodation or rent in lieu of Transit Accommodation, overhead cost, (iv) Cost of ASR linked premium, fees, charges and 0.00 security deposits or maintenance deposit, or any amount whatsoever payable to any authorities towards and in project of rehabilitation. Sub-Total of Land Cost 10,70,000.00 ii. Development Cost/ Cost of Construction: a. (i) Expenditure on Construction (minimum of a or b to be considered) a. Construction cost incurred including site development and infrastructure for the 66,40,320.00 same as certified by engineer b. Actual cost of construction incurred as per 66,10,436.00 the books of accounts as verified. (ii) Cost incurred on additional items not included in 0.00 estimated cost (As per engineer certificate) (iii) On-site 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 14,26,090.00 equipment including its hire and maintenance 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. 45,273.00 c. Principal sum and interest payable to financial institutions, scheduled banks, non-banking financial institution (NBFC) or money lenders on construction 31,83,258.00 funding or money borrowed for construction; Sub-Total of Actual Development Cost 1,12,65,057.00 TOTAL OF ACTUAL COST INCURRED (LAND + DEVELOPMENT) 1,23,35,057.00 3 Total actual cost of Project (as on 31/03/2019) 1,23,35,057.00 4 Proportion of the cost incurred on Land cost and Construction 42.53% Cost to Total Estimated Cost 5 Amount Which can be withdrawn from the Designated 1,23,35,057.00 Account. 6 Less: Amount withdrawn till date of this certificate as per the Books of Accounts and Bank Statement of RERA Designated 0.00 Account 7 Net Amount which can be withdrawn from the Designated 1,23,35,057.00 Bank Account under this certificate. YASH S SHAH & ASSOCIATES CHARTERED ACCOUNTANTS Flat No 8, Bhagwat Sadan Chs, Plot No 35, Manikrao Lotlikar Road, Near Sahakari Bhandar, Matunga, Mumbai Maharashtra - 400019. Mobile No: +91 9762727545 || Email: cayashshah07@gmail.com This certificate is being issued for RERA compliance for the Partnership firm MR. ANKIT NITIN KOTHARI building name MONSOON MEADOWS and is based on the records and documents produced before me and explanations provided to me by the management of the Company. Table C Sold Inventory Sr Shop No / Carpet Unit Received Balance No Office No Area Consideration as Amount receivable in sq per agreement / mts. Letter of Allotment NIL Unsold Inventory as on 31/03/2019 Sr Apartment Carpet Area in Sq Unit Consideration as per Flat /Row No No Type Mts ASR 1 2BHK Row house no 1 85.75 2286438.00 2 2BHK Row house no 2 90.67 2417625.00 3 2BHK Row house no 3 85.75 2286438.00 4 1BHK Flat No 1 42.83 1142019.00 5 1BHK Flat No 2 42.83 1142019.00 6 1BHK Flat No 3 41.06 1094824.00 7 1BHK Flat No 4 41.06 1094824.00 8 1BHK Flat No 5 42.92 1144419.00 9 1BHK Flat No 6 41.43 1104690.00 10 1BHK Flat No 7 42.83 1142019.00 11 1BHK Flat No 8 42.83 1142019.00 12 1BHK Flat No 9 41.06 1094824.00 13 1BHK Flat No 10 41.06 1094824.00 14 1BHK Flat No 11 42.92 1144419.00 15 1BHK Flat No 12 41.43 1104690.00 16 1BHK Flat No 13 42.83 1142019.00 17 1BHK Flat No 14 42.83 1142019.00 18 1BHK Flat No 15 41.06 1094824.00 19 1BHK Flat No 16 41.06 1094824.00 20 1BHK Flat No 17 42.92 1144419.00 21 1BHK Flat No 18 41.43 1104690.00 22 1BHK Flat No 19 42.83 1142019.00 23 1BHK Flat No 20 42.83 1142019.00 24 1BHK Flat No 21 41.06 1094824.00 25 1BHK Flat No 22 41.06 1094824.00 26 1BHK Flat No 23 42.92 1144419.00 27 1BHK Flat No 24 41.43 1104690.00 TOTAL 1270.69 33881681.00 YASH S SHAH & ASSOCIATES CHARTERED ACCOUNTANTS Flat No 8, Bhagwat Sadan Chs, Plot No 35, Manikrao Lotlikar Road, Near Sahakari Bhandar, Matunga, Mumbai Maharashtra - 400019. Mobile No: +91 9762727545 || Email: cayashshah07@gmail.com TABLE D Sr Particulars Amount No 1 Estimated Balance Cost to Complete the Real Estate Project 1,66,64,943.00 (Difference of Total Estimated Project cost less Cost incurred) 2 Balance amount of receivables from sold apartments as per Table 0.00 C to this certificate (i) Balance Unsold carpet area of developer flats (to be certified by Management and to be verified by CA from the records 1270.69 Sq Mtr and books of accounts) – of Promoter (ii) Estimated amount of sales proceeds in respect of unsold apartments (calculated as per ASR multiplied to unsold area 3,38,81,681.00 as on the date of certificate, to be calculated and certified by CA) 4 Estimated receivables of ongoing project. Sum of 2 + 3 (ii) 3,38,81,681.00 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 70% lesser than 1, then 100% of the of the balance receivables of ongoing project will be deposited in designated Account Table E Designated Bank Account Details Sr No Particulars Designated Bank account details 1 Opening Balance 9003.30 2 Deposits till 31/03/2019 3500.00 3 Withdrawals till 31/03/2019 2839.97 4 Closing Balance as on 31/03/2019 9663.33 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 Account. I hereby certify that MR. ANKIT NITIN KOTHARI 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. YASH S SHAH & ASSOCIATES CHARTERED ACCOUNTANTS Flat No 8, Bhagwat Sadan Chs, Plot No 35, Manikrao Lotlikar Road, Near Sahakari Bhandar, Matunga, Mumbai Maharashtra - 400019. Mobile No: +91 9762727545 || Email: cayashshah07@gmail.com Table F Means of Finance S No Particulars Estimated* Proposed / Actual (At time of Estimated (as on Registration) (In (as on date of 31/03/2019) (In Rs.) certificate) (In Rs.) (proposed and Rs.) indicative) 1 Own Funds NA NA 7,54,805.00 2 Total Borrowed Funds NA NA 0.00 (secured) 3 Total Borrowed Funds NA NA 1,15,80,252.00 (Unsecured) 4 Customer receipts used for NA NA 0.00 the project 5 Total funds for Project NA NA 1,23,35,057.00 6 Total Estimated cost NA NA 2,90,00,000.00 (Table A) Table G Any Comments/Observations of CA 1. All the estimates of the project are taken as self- certified by the Promoter. 2. In Table C-Unsold Inventory, we have mentioned ASR value of each unit as required in the certificate as provided by the management. As per contention of the promoter shops and offices will be sold at higher rate than ready reckoner rate and the project will be in profit. 3. The details of unsold area i,e Unit No., Carpet Area and Valuation as per ready reckoner rate is taken as provided by the promoter. 4. We have relied on Form 3 issued by U B SURA & CO dated 31/07/2017 for the purpose of RERA Registration. Unique Document Identification Number (UDIN) is 24187811BKHSVJ1622 For Yash S Shah & Associates Accepted and Agreed by Chartered Accountants CA Yash S Shah Proprietor Date – 15/12/2024 Date – 15/12/2024