CA AJITHA THAMPAN A " Email:ajitha0810@ymail.con Address: 403, Amrita Apt, Temple View CHS, RajajiCruss Road 4, Dombivli 421204 Mobile No:9766713031 FORM -3 (See Regulation 3) CHARTERED ACCOUNTANT'SCERTIFICATE money from designated account) (To be submitted at the time of registration of project and for withdrawalof To, The Partners Shree Ashtavinayak Infra having New MahaRERA Subject : Certiticate of Financial Progress of Work of SHREE NALINIC.H.S LIMITED Registration Number PS1 700055539 being developed by M/s. Shree Ashtavinayak Infra Sir, NALINI C.HS LIMITED having New This certificate is being issued for RERA compliance for the SHREE Shree Ashtavinayak Infra and is based on the MahaRERA Registration Number PS1700055539 being developed by M/s. management. records and documents produced before me and explanations provided to me by the The said Details is as on 31st March 2024 project) Table A- Estimated Cost of Project (at the time of registration of Estimated Cost Sr. No. Particulars Registration of Project) (1) (2) Land Cost: a. Value of land as ascertained from the Annual Statement 74,24,000 of Rates (ASR). 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) d. Estimated Amounts payable to State Government/UT Administration or competent authority or any other statutory authority of the State or Central Government, towards stamp duty, transfer charges, registration fees etc;and 18,05,900 e. Estimated Land Premium payable as per annual statement of rates (ASR) for redevelopment of land owned by public authorities. Under Rehabilitation Scheme (0 Estimated constnuction cost ofrehab building including site development and infrastructure for the same as cetitied by Engineer. ()Estimated Cost towards clearance of land of all or any cncumbrances including cost of removalof legalillcgal occupants, cost for providing temporary transit accommodation or rent in lieu of Transit Acconmodation, overhcad 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, fecs, 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 92,29,900 Development Cost/ Cost of Construction of Building: Estimated Cost of Construction as certified by Enginer. 2,42,57,578 b Cost incurred on additional items not included in estimated cost( As per Engineer cortificate) C (ii) Estimated 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.), cost 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. 7,88,630 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: 2,50,46,208 Total Cost of the Project (Estimated) 3,42,76,108 Table B- Actoal Cost Incurred on the Project (44 on Date of Certifeate) Partiealars Amsunt (R) Inearrd () (2) Land Cost: Value of land as ascertained from the Annual Statement L.69,500 of Rates (ASR). 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 cost 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, towards stamp duty, transfer charges, I8,05,900 registration fecs ctc , and e. Land Premium paid for redevelopment of land owned by public authorities. Under Rehabilitation Scheme rehabilitation () Incurred Expenditure for construction cost of building Minimum of (a) & (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. (i)lncurred Expenditure towards clearance of land of all or any encumbrances including cost of removal of legal/illegal occupants, or rent cost for providing temporary transit accommodation amounts in lieu of Transit Accommodation, overhead cost, payable to slum dwellers, tenants, apartment owners or which are appropriate authority or government or concessionaire not refundable and so on. (ii)lncurred Expenditure towards ASR linked premium, fees, or any charges and security deposits or maintenance deposit, and in authorities towards amount whatsoever paid to any project of rehabilitation. borrowing (iv)Any other cost including interest incurred on the construction of rehabilitation component. done specifically for Sub Total of Land Cost 19,75,400 Development Cost/ Cost of Construction : (i) Expenditure for Construction Minimum of (a) and (b) to be Considered 22,46.15 I (a) consturction cost incurred including site development 24,00,000 and infrastructure for the same as certified by Engineers. (b) Actual Cost of construction incurred as per the books of accounts as verified by the CA 22,46,151 (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 Authority (v) Incurred Expenditure towards Interest to Financials institutions, scheduled banks, non-banking financial institution (NBFC) or money lenders on construction funding or money borrowed for construction 22,46,151 Sub-total of Development Cost: 42,21,551 3 Total Cost of the Project(Actual incurred as on date of certificate) Construction 4| Proportion of the Cost incurred on Land Cost and 12.32% Cost to the Total Estimated Cost (Table A) Account(4*Table A t 42,21,55 1l 5 Amount which can be withdrawn from the Designated 6| Less :Amount withdrawn till date of this certificate from the 26,40,590 Designated account Designated Bank 15,80,961 7 Net Amount which can be withdrawn from the Account under this certificate semat fot akaletion of Rreeivables from the Sales of the Ongoing Rel Estate Prajet sld tvetery Booked Inventory FatNo. Carpet Area Unit Consideration Received Balance (In Sq.mtrs) per agreement Amount Reeeivable /letter of Allotment (2) (3 (49) () (6 102 3347 10,40,030 16,40,030 6,00,000 103 24 77 |44 844 12,13,730 68886 105 32.19 15,77,3 10 2,62,671 13,14639 4 106 43 51 21,31,990 10,00,000 I13|990 201 45.15 22,12.350 1,97,562 20,14,788 6 202 33 47 16,40,030 2.23.020 14,17,010 7 203 24. 74 12,12,260 1,80,00| 10,32.259 205 32.19 15,77,310 10,34,500 S.42,810 305 29.88 14,64.120 2,51,144 12.12,976 10 306 43.51 21.31,990 21,31,990 TOTAL 343 1,68,01,120 38,17,784 1,29,83,336 Unsold Inventory Agreement Value considered(Ready reckoner rate for Shop Rs.67,300/-and Flats Rs.49,000-) Carpet Area Unit Consideration Sr. No. Flat No. (In Sq.mtrs) as per agreement /letter of Allotment Shop-1 8.72 5,86,856 Shop-2 11.76 7,91,448 Shop-3 13.23 8,90,379 4 Shop-4 14.7 9,89,310 GI 34.37 16,84,130 G2 33.49 16,41,010 7 G3 19.48 9,54,520 101 45.15 22,12.350 104 24.25 11,88,250 204 24.25 11,88,250 206 43.51 21,31,990 301 34.79 17,04,710 13 302 24.38 11,94,620 14 303 18.72 9,17,280 304 18.18 8,90,820 16 401 34.99 17,14,510 402 19.19 9,40,310 403 24.3 11,90,700 19 404 30.14 14,76,860 Total 477.6 2,42,88,303 Table D Comparion between Cost and Recelvables Amount (Rs) Particulars Sr.No. (3) (2) Fstimated Balance Cost to Complete the Real Estate Project 3,00,54,557 incurred) (Diferene of Total Estimated Project cost less Cost Balance amount of receivables from sold apartments as per Accountant as verified Table C of this certificate(as certified by Chartered 1.29,33,336 frum the records and books of Accounts) 477.60 Management and Sq.Mtrs 3(i) Balance Unsold area (to be certified by accounts) to be verified by CAfrom the records and books of unsold (i) Estimated amount of sales proceeds in respect of area multiplied to unsold apartments (calculated as per ASR calculated and certified 2,42,88,303 as on the date of certificate, to be by CA)as per Table C to this certificate 3,72,71,639 project. Sum of 2 + 3 (ii) 4 Estimated receivables of ongoing in Designated Account - 70% or 100% 5 Amount to be deposited of thebalance receivables 2,60,90,147 IF4 is greater than 1, then 70 % of ongoing project will be deposited in designated Account receivables of the of the balance IF4is lesser than 1,then 100% Account deposited in designated of ongoing project will be Table E Designated Bank Account Details Designated Bank Account Particulars Details Sr. No. till Date Actual Amount (From start of bank account to till date) Opening Balance 31,81,264.00 2 Deposits 26,40,589.76 Withdrawals 5,40,674.24 Closing Balance 4 project of money, as specified in the act, collected from allottees of the proportion Ihereby certify that required RERA Bank Account in Table C has been deposited in Designated unit as indicated Infra has utilized the required proportion of money, as specified in the Ihereby certify that M/s Ashtavinayak project only for land and construction of this project. act, collected from allottees for this Table F Means of Finance Sr. No. Particulars Estimated(At the time of ProposedEstimated Aetual (As on the date of the Registration) (In Rs.) (As on the date of IOwn Funds (proposed and indicative) certificate) the certificate) (In Rs.) (In Rs.) 2 Total 52,82.832 Borrowed Funds(Secured) 52,82,832 14,09,5 17 -Drawdown availed 3 Total till date Borrowed Funds(Unsccurcd) 50,00,000 50,00,000 10,05,750 4 -Drawdown availed till date Customer Reccipts used for Project S Total Funds for 2,39,93.276 2,39,93,276 6 Total Project 3,42,76,108 3,42,76,108 Estimated Cost(As per Table A) 3,42,76,108 3,42,76, 108 24,15,267 3,42,76,108 Table G Sr.No Particulars Any Comments/Observations of CA 1|In Table F,Means of Finance is provided by the Management. HAR.THAR Yours Fait sMem. No. 147827 Name: CA A s s epan Membership) No :147827 UDIN : 24147827BKEEBZ2674 Agreed and, accepted by, HIVNAI0N S1gnature of Promoter Name : Praveen Rane TH Date :