907, G Square, Near BMC Office, Jawahar Road, Ghatkopar (E), Mumbai - 400 077 M: 97736 20231 E-mail: piyushpar1988@gmail.com Form - 3 CHARTERED ACCOUNTANT'S CERTIFICATE (To be submitted at the time of Registration of Project and for withdrawal of Money from Designated Account) To, M/S SHRESHT DEVELOPERS Dombivli - 421201 Project - SHIVANAND SUDAMA CO. OP. HSG. SOCIETY. LTD. Subject: Certificate of Financial Progress of Work of Project SHIVANAND SUDAMA CO.OP. HSG. SOCIETY. LTD. having MahaRERA Registration Number P51700055865 being developed by M/S SHRESHT DEVELOPERS Sir, This certificate is being issued for RERA compliance for the SHIVANAND SUDAMA CO.OP. HSG. SOCIETY. LTD. MahaRERA Registration Number P51700055865 being developed by M/S SHRESHT DEVELOPERS 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) Estimated Cost No. Particulars (At the time of registration of project) (1) (2) (3) 1 i Land Cost Value of the land as ascetained from the Annual Statement of Rates (ASR) a - Estimated Amount of Premium payable to obtain development rights, FSI, additional FSI, fungible area, and any other incentive/concession in deficiency under DCR from b Local Authority or State Government/UT Administration or any Statutory Authority 52,00,000 c Estimated Acquisition cost of TDR (if any) Estimated Amounts payable to State Government/UT Administration or competent authority or any other statutory authority of the State or Central Government, towards d 8,15,000 stamp duty, transfer charges, registration fees etc; and Estimated Land Premium payable as per annual statement of - e 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 20,16,000 encumbrancesincluding cost of removal of legal/illegal occupants, cost forproviding temporary transit accomodation or rent in lieu of Transit Accommodation,overhead cost,amount 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 of rehabilitation. (iv) Any other cost including interest estimated on the borrowing - done specifically for construction of rehabilitation component Sub-Total of LAND COST 80,31,000 ii Development Cost/ Cost of Construction of Building : a Estimated Cost of Construction as certified by Engineer 3,93,40,000 b Cost incurred on additional items not included in estimated cost (As per engineer certificate) - 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.), absorbed c 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. - Interest payable to financial institutions, scheduled banks, nonbanking financial e institution (NBFC) or money lenders on construction funding or money borrowed for construction ; Sub-Total of Development Cost 3,93,40,000 Total cost of the Project (Estimated) 4,73,71,000 Table B- Actual Cost Incurred on the Project as on 30.06.2025 Amount(Rs.) No. Particulars Incurred (1) (2) (3) 1 Land Cost Value of the land as ascetained from the Annual Statement of Rates (ASR) a - Incured Expenditure on Premiums to obtain development rights, FSI, additional FSI, fungible area, and any other incentive/concession in deficiency under DCR from Local b Authority or State Government/UT Administration or any Statutory Authority 57,75,633 c Incurred expenditure for Acquisition of TDR (if any) - Amounts payable to State Government/UT Administration or competent authority or any other statutory authority of the State or Central Government, towards stamp duty, d transfer charges, registration fees etc; and 3,50,500 e Land Premium paid for redevelopment of land owned by public - authorities f Under Rehabilitation Scheme : (i ) Incurred expenditure for construction cost of rehabilitation 22,41,500 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 22,41,500 per the books of accounts as verified by the CA. (ii ) Incurred cost towards clearance of land of all or any encumbrancesincluding cost of removal of legal/illegal occupants, cost forproviding temporary transit accomodation or rent in lieu of Transit Accommodation,overhead cost,amount payable to slum dwellers,tenants,apartment owners or appropriate authority or government or concessionaire which are not refundable and so on. (iii ) Incurred 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 incurred on the borrowing - done specifically for construction of rehabilitation component Sub-Total of LAND COST 83,67,633 (1) (2) (3) 2 Development Cost/ Cost of Construction : (i) Expenditure for Construction. 1,84,89,800 Minimum of (a) and (b) to be considered (a) Construction cost incurred including site development and 1,84,89,800 infrastructure for the same as certified by Engineer (Rs.1,84,89,800) (b) Actual Cost of cnstruction incurred as per the books of 2,05,52,485 accounts as verified by the CA (Rs. 2,05,52,485/-) (ii) Cost incurred on additional items not included in estimated cost (As per engineer certificate) - 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 (iii) maintenance costs, consumables etc. All costs incurred to complete the construction of the entire phase of the project registered. 12,25,157 (iv) Estimated Taxes,Cess,fees,charges,premiums,interest etc. payable to any Statutory Authority. - (v) incurred expenditure towards Interest to financial institutions, scheduled banks, nonbanking financial institution (NBFC) or money lenders on construction funding or money borrowed for construction ; - Sub-Total of Development Cost: 1,97,14,957 3 Total Cost of the project (Actual incurred as on date of certificate) 2,80,82,590 4 Proportion of the Cost incurred on Land Cost and Construction Cost to 59.28% the Total Estimated Cost (Table A) 5 Amount which can be withdrawn from the Designated Account. 2,80,82,590 6 Less: Amount withdrawn till date of this certificate from the Designated 60,24,200 Account 7 Net amount which can be withdrawn from the designated Bank Account 2,20,58,390 under this certificate * 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 as on 30.06.2025 Unit Consideration as Sr. Carpet Area Balance Flat No. per Agreement Received Amount* No. (in sq.mts.) Receivables /Letter of Allotment (1) (2) (3) (4) (5) (6) 1 301 28.61 44,50,000 31,27,000 13,23,000 2 602 36.94 38,50,000 6,00,000 32,50,000 3 701 28.61 63,00,000 39,69,000 23,31,000 4 702 36.94 29,00,000 9,10,000 19,90,000 Total 131.10 1,75,00,000 86,06,000 88,94,000 * Unit consideration as per agreement/letter of allotment and amount received does not include pass through charges and indirect taxes. Unsold Inventory Ready recknor as on date of certificate premises Rs. Unit Sr. Flat Carpet Area Consideration as No. /Shop (in sq.mts.) per Ready Reckoner Rate 1 101 43.12 64,97,960 1 302 36.94 55,66,680 2 401 26.44 39,84,400 3 501 26.44 39,84,400 4 601 28.61 43,11,440 5 801 28.61 43,11,440 Total 190.16 2,86,56,320 Owners Inventory Details Sr. Flat Carpet Area No. /Shop (in sq.mts.) 1 102 21.74 2 103 46.72 3 201 32.54 4 202 25.18 5 203 53.81 6 303 46.72 7 402 39.03 8 403 46.72 9 502 39.03 10 503 46.72 11 603 46.72 12 703 46.72 Total 491.65 Table-D Comparison between Balance Cost and Receivables as on 30.06.2025 Sr. No. Particulars Amount (Rs.) (1) (2) (3) 1. Estimated Balance Cost to Complete the Real Estate Project 1,92,88,410 (Difference of Total Estimated Project cost less Cost incurred ) Balance amount of receivables from sold apartments as per Table C 2 of this certificate (as certified by Chartered Accountant as verified 88,94,000 from the records and books of Accounts) (i) Balance Unsold area (to be certified by Management and to be 3 190.16 verified by CA from the records and books of accounts) (ii) Estimated amount of sales proceeds in respect of unsold apartments (calculated as per ASR multiplied to unsold area as on 2,86,56,320 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) 3,75,50,320 5 (To Be Filled for Ongoing Projects only) 70% Amount to be deposited in Designated Account-70% or 100% 2,62,85,224 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 Table E Designated Bank Account Details S No. Perticulars Designated Bank Account Details Actual Amount till Date (From start of bank account to 30.06.2025) Opening Balance 0 Deposits Withdrawals Closing Balance - 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 FOREFRONT REALTY PVT LTD 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. Perticulars Estimated* Proposed/ Actual (At the time Estimated (As on the of registration) (As on the date date of (In Rs.) Certificat) certificate (prposed and 30.06.2025 30.06.2025 indicative) (In Rs.) (In Rs.) 1 Own Funds - - - 2 Total Borrowed Funds (Secured) - - - - Drawdown availed till date 3 Total Borrowed Funds (Unsecured) 4,73,71,000 2,73,71,000 2,28,59,954 - Drawdown availed till date 4 Customer Receipts used for Project - 2,00,00,000 86,06,000 5 Total Funds for Project 4,73,71,000 4,73,71,000 3,14,65,954 - 6 Total Estimated Cost(As per Table A) 4,73,71,000 4,73,71,000 2,80,82,590 Table G Any Comments/ Observations of CA 1 During the duration of the project of the company has sold 5 units to the lender and amount is adjusted against his outstanding loan amount as on date of agreement, hence adjusted amount not routed through Designated Bank Account Yours Faithfully For P C Parvadiya & Associates Proprietor Name : Piyush Chandulal Parvadiya Membership No: 153950 Agreed and Accepted by: UDIN: 25153950BMLWTB3889 Date : 12/12/2025 Name: Date: 12/12/2025