GRN MH018047476202223E IBARCODE CHALLAN MTR Form Number-6 111111111111101111111111111111111111111111111111 I Date 31/03/2023-13:36:181Form1D • . ··~:.·~ ·~ 1::1 1::,11, • . ~ • • Department Inspector General Of Registration Payer Details ,r-------------------------------------------------------------------,_--------------------r----------------------------------------------1 ; • Non-Judicial Stamps TAX 10 I TAN (If Any) Type of Payment Duty em Doc Voluntarily brought for adjudicatn SoS PAN No.(lf Applicable) 'i- Office Name CSK_COLLECTOR OF STAMPS KURLA Full Name Lo.~ation MUMBAI i Year 2022-2023 One Time Flat/Block No. Account Head Details Amount In Rs. I Premises/Building 0030050801 Amount of Tax 7506500.00 I Road/Street Area/Locality Town/City/District PIN Remarks (If Any) ADJ/11 00901/170/23/K Amount In 75,06,500.00 I Words I Only PUNJAB NATIONAL BANK ! Cheque-DO Details Bank CIN I Ref. No. I 0300617:202303310150815113379038 Cheque/D D No. Bank Date I RBI Date 131/03/2023-13:38:15 Not Verified with RBI Name of Bank Bank-Branch PUNJAB NATIONAL BANK f';iame of ESranch Scroll No. , Date Not Verified with Scroll D~12artment ID : . Mobile No. : 9987163786 . NOTE:· This challan Is valid ~or document to be r!'gistered In Sub Reg.istrar office only. Not yalid for unregistered d.ocument. ~ ~ ct5crco ~ faRims> WidfC'Ii!lld 'i7lRiuft W"GlctdltlU Ci'Cdl'CII& CffiiJl 3TJt. ~ Of CI>'Gictdl'Clll Ci'(:dl'(illd\ ~ ~ 'C11CIJ ~- Challan Defaced Details Sr. No. Remarks Defacement No. Defacement Date Userld Defacement Amount 1 0008820/04202223 31/03/2023-15:21:01 IGR241 7506500.00 ------- Total Defacement Amount 75,06,500.00 PJ:JrtO 111 r [ i I: .......... I GR.N No •... t11t1o t So~1-41-bt2o '1.'2...'2.3 E - Ol 3' I 03/ '2-0?-3 I ~ Ot ~ (t. No '· .. ooo B8'2o1-0 L(L.o 'L«'LC£. 3 Ot ··2t (o 3 {'Lsi\'1:8 A·V ~ . . 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DEVELOPMENT AGREEMENT . \·.~:·· . .~--· ~: ·.· .•. ~ , <" .. (:_~.: >~!f;,·r :· This DEVELOPMENT AGR.EEMENT ("Deed") is mad~·:ana en~·red into (') ~ ·... •.· -+.•. ,.,, I dayof atMumbaithis_•., M<.t.Y<.'-.. _ 202"3' ;•j; ..:~~ c BETWEEN NEHRU NAGAR ANAND CO-OPERATIVE HOUSING SOCIETY LTD., a Co- ·. / r«... ~ operative Housing Society duly registered with the provision/ ~ . . . . 41 Maharashtra Co-operative Societies .A.ct, 1960 on 20th Jun Rr,:",~'::~i··;• ··~."'l'l!~11tl~1 I ~~ il ~ ! " =·, . ..c3r~s:;;:~:t~:a·.::~~~;:~:;y ~.;:"'._ . .:.""'"":''""""-~~r.:¢t..~·-- . -m-···- of the Members of Ltd. Shares Distinctive Nos ·. / . . . ,--~ .. J/1 .-·~ . . .'f:> ,-· :' . /.t·:/ l ··.- ./ // .· C'. \\"J\; \ \ ·rv' /; . / f - --· \ ,._...,..-- ) ·v ·-· ... ---- ·- I- -- "·'!;o··./ -ARCt-HiNIA RA.'!ENJ>RA.-~~:.:..:.=:..:..:~·- ·-·-".~-- ~-~-· -·. j ·- ·--- P ~ / t( R N S \1~-> . t"\ LJ M ~y \\/ ':;;::_~ f- --• I 0 •••-••• 0 •-•.•"""C~."~- --- u •- n .Yj:·.·· ~-, ·.1. c\\.~~ j/J.-·~~y - L r ;-1 --ii ( (' ,( ~ll_:cc{ ·~LL. v ~rl{. ~/ If:!~ are the Members of the said Society and whose particulars are set out more particularly in Annexure "A" hereto, hereinafter referred to as the "M.embers" (which term shall, unless it be repugnant to the meaning or context thereof, be deemed to mean and include their heirs, successors, ~ administrators and/or ass1gneejs) of the SECOND PART; ~ tr ~- ¥:~// '-· ·0~~~ . . . ·7' ;' ·'J>1 (/ . .:./ / dS ""fbr" 3 ....• L..-...,...,.. " rr~t"NNL~ MISHAL CONSTRUCTION PRIVATE LTD., a. Private Limited Co"!lpany registered within the provision/s of the Indian Companies Act, 1956, and having their registered office at - 402, Vikas Commercial Center, Dr. Choitram Gidwani Road, Chembur, Mumbai - 400 074 (hereinafter referred to as "the Confirming Party"), (which expression shall unless repugnant to the context, be deemed to mean and include its affiliates, successors, nominees and permitted assigns) AND M/s Star Rise a Registered partnership firm (PAN No.- AECFS9458J) having present partners a) Mr. Ismail Yakub Payak (PAN No.- ___ ) rJ- and b) Mr. Naushad Ali Habib Ali Hashmi (PAN No.- AABPH3896A) having its office at Shop no.04, FF Star Heights_ Bharat Cinema Compound, New Mill ~ f&- cj Road, Kurla (W),Mumbai - 400070, hereinafter referred Developer"(which expression shall unless repugnant to the context, be to as "The fl- deemed to mean and include its affiliates, successors, nominees and ~. P_;4--e permitted assigns) of the FOURTH PART. ~ ~ l The said Society, the Members, the Confirming Party and the ~ v ~·,· Developer are hereinafter, for sake of brevity and wherever the context so ~ requires, individually referred to as ":?arty" and collectively referred to as "Parties". WHiEREAS:- A. The said Society, the Members of the said Confirming Party represent and confirm as follows: c i. Erstwhile Maharashtra Housing Board now Mah~rasht Development Authority (the said Board) was absolu possessed of large tract of land lying being and ~ih.ra~~ Nagar, Kurla (East), Mumbai - r.co 024 lnteralia including land b;arng Survey No. 229 (pt) and 267 (pt) and CTS No. 12(pt) admeasuring 720.19 sq.mtrs plus titbit area of 85.40 sq.mtrs. i.n aggregate admeasuring 805.~ sq.mtrs. of Nehru Nagar Division _at ~_, Village Kurla, Kurla (East), Mumbai - 400 024 within the registration '\, Sub-district of Kurla, Mumbai Suburban district. (Hereinafter referred to as the said land). ii. The said Board implemented a scheme, called 'EWS Income Group -. Housing Scheme' for construction, allotment and sale of residential tenements built by the said Bo.ard on lands sitLiated in Nehru Nagar ~ Area Including the said land. The said Board completed construction ;JO . ~ ~ ,~ ~~W ~- ~ ADJ/110~901/t":to _/ '3 I 8~ ~2~/K Pages ~-----------L-----------~ of various buildings thereunder in the year 1964 under the said Scheme. One such Building was Building No. 76 consisting of Ground r~-=:;:-.::;·':"1:" . ·.:.-~~·-:·::..:~.-.-·.·· --· elu~ f~ upper fioors comprising of 40 residential tenements each 1f:._'l)l~~!§'~ .-: ~dmeasurinl;J 20.22 sq.mtrs. carpet area which were to various allottees 1 \ - ---·-------- ..--.. -·:r--::~-\~,.~1967 by the said Board on the terms and conditions as S'"::S cs, . . .... ·:· !.. J~.l'?!!.:0 ~- ·cnt letters add res sed to each o; such a llottees. The I 1llc ·~\ , ,' ; ,: . :. said land nd the building No. 76 are heremafter referred to as the · ~-saro--:ra:r- 'erty and more particularly described 1n the Schedule hereunder written and· shovvn on the plc.n annexed and thereon surrounded by blue coloured boundary line. iii. The said allcttees of 40 residential tenements in Building No. 76 formed themselves into a Co-cpr~rative housing Society viz. 'Nehru Nagar Anand Co··operative Housing Society Lt':J.' (the said Society) and registered the same under The Maharashtra Co- operative Societies Act, 1960 with the Registrar of Co-operative Societies under Registration No. BOM/WL/HSG/(OH) 1827/85-86 on 20th June, 1986. iv. In the meanwhile Maharashtra Housing & Area Development Authority ''-!! .. (MHADA) came to be constituted and succeeded the said Board and all the properties including the said Property held by the said Board came 'to be held by MHAD.A.. ~ ,;:~~ ", ~,.,_, _, ,h•.·~"- ' !,., · (a~ Indel"ture of Lease dated 17th October, 2006, executed ·tt ~~ ;(~" ,;~j~;~ ~ ·"10 arashtra Housing & Area Development Authority (MHADA) s ; ~~,"" (~··f"': \~:;~~J t- ..,¥.. ority (Lessor) in favour of Nehru Nagar Anand Co-operati~~-*"'-\ • . _ , ~ ~ ~';~};. ~... ~ ~'r'~ .l: sing Society Ltd. viz. the said Society as Society (Lessee), an 1 ~--.., '!itJ•. ,_ . ,'·E:'>r~""~· ~~·~ gistered with the Office of Joint Sub-Registrar of Assurances Kurla - ' " ' ._,.._/ lilc ~ "-'~.,,_!~· tkl>\~~-~.. ~.... -.~ ....- 3 under No. BDR-13/8696/2006 on 18th October, 2006, the Lessor (i.e. MHADA) therein demised unto the Lessee i.e. the said Society, the said land more particularly described in the Sch~cl ule hereunder written for a period of 99 years commencing from pt April, 1980, at or for yearly rent and on the terms and conditions therein contained. vi. By a Sale Deed dated 17th October, 2006 executed between Maharashtra Housing & Area Development Authority (MHADA) as Vendor and Nehru Nagar Anand Co-operative Housing Society Ltd. as Purchaser, registered with the Office of Joint Sub-Registrar of Assurances Kuria - 3 under i\Jo. GDR-13/8697/2006 on 1St" October, 2006, the Vendor (i.e. fVlH.C\DA) sold and transfer-red unto the Purchaser· ~uilrling No. 76 of Nehru Nagar Layout of MHADA standing on the said land at or for the consideration and on the terms and conditions therein contained. ~ .__"\' ~--' ___" .... --- ) ~/ .. t v /~+::-··:;_.'·:- '·- ~-- _..,-..-''~- r·~ j"\J •. ·, ·,,~ ;'(\ \ ; j _j 1: '' 1 (:ii·!·~--~·. v. ~ d5~(1~ ~ :\ ce the said Building No. 76 was in a ilapidated conditi , th "ty an d"tts Mem b ers proposed re .. sa1 dsoc1e 8 ~ ~· rL,...-!J5sGilding No. 76 by demolishing the existing bu~~d constructing 1 •;J k. ~ _ thereon a new building. The Confirming Party pursuant to letter· \ ---_ dated communicated its offer to the said Society . ..-' '· ~ for redevelopment of the said Property. The said Society accordingly passed Resolution In its Special General Body Meeting of ~ the then existing members of the said Society held on ~ for accepting the said proposal of the Confirming Party and authorising the Confirming as Developers to redevelop ;:)~ the said Property. VIII. By Development Agreement dated 31st December, 2009 executed ~ between Nehru Nagar Anand Co-operative Housing Society Ltd. (the aid Society) as Society and Mishal Construction Private Limited (the (~'· ~ f1::::S=~/ onfirming Party) as Developer, registered with the Office of the ub-Registrar of Assurances Kuria-1, under No. BDR-3/4466/2010 on lOth May, 2010, the said So(:iety granted development rights unto ~ e Developer therein (the Confirming Party herein) in respect of he said land and the said then existing building No. 76 situate ~~- ~ ereon by demolishing the same and thereafter constructing a new .. .. --~ ~;\ 1\~ .,.) ) ...._,J.-~ * IJ;It· -- ix. . Anand Co-operative Housing Society Ltd. (the said Society) (~ its Managing Committee Members and Office Bearers in favour of Shri Navin M. Jain and Shri Ajit K. Jain, Directors of M/s. Mishai Construction Private Limited (the Confirming Party), registered with the Office of the Sub-Registrar of Assurances Kurla-1, under No. BDR- 3/4467/2010 on lOth May, 2010, the said Donor therein granted powers for development of the said Property unto the Donee therein. x. By a Deed of Rectification dated 17th April, 2010 executed between Nehru Nagar Anand Co-operative Housing Society Ltd. (the said Society) as Society and Mish~l Construction Private Limited (the Confirming Party) as Developer, registered with the Office of the Sub-Registrar of Assurances Kurla-1, under No. BDR-3/4473/2010 on 10th May, 2010, the parties maid certain minor rectificatlon/s in some " of the terms of the Development Agreement dated 31st December, ~~~ ~ 7;2~/' ~ 2009. . ~-"'~ :---;:- \ / ~~· ~ ADJ/11 0090 1/-{1-o I 20f2...3/K ~-- Pages ~ r j ~s- L-------·-·-·--·-L_____ I I, - - - - - - - - - - - · - - -..... ~---===••'''"c._,__.-"'~"""·'"C:-.cco:·,,-_,_,.,., ___.,.,______ xi. Vide Offer Letter dated 30th April, 201 ~ bearing No. ,...-. CO/MB/Arch/NOC/F-403/2572/2011 addressed by Chief Officer, MHADA to the said Society, the MHADA Board has allotted additional ·:;-- · ·-r -= -~~area admeasuring 672.37 sq.mtrs. beyond ·the existing built· !=' . , .,._!!"!,...,...1 up area on the terms and conditions contained therein, to be loaded on L-==::?--~~L~ building to be constructed on the said Property ~6 ~ ~ .· xii:~. Vide Llter dated 2"' August, 2016 bearing No. CO/MB/REE/NOC/F- ~-------· · ___ .. ____ ~6j)f 8/2016 addressed by Chief Officer, MHADA, Mumbai to The Executive Engineer, B.P.D/ES, MCGM, the MHADA board granted its No Objection Certificate for issuing Intimation of Approval (I.O.A.) for proposed redevelopment. of the said Property subject to the terms and conditions contained therein. xlil. Vide Intimation of Approval (IOA) for Zero FSI dated 4th May, 2019 bearing No. MH/EE/BP·Ceii/GM/MHADA-22/293/2019 issued by The Executive Engineer, B.P./Cell, MCGM addressed to M/s. Mishal Construction Pvt. Ltd., the Executive Engineer, granted approval for redevelopment of the said Property alongwith the sanctioned plans annexed thereto on the terms and conditions contained therein. ' ~;:~t~~~it~ c ;/'-~ co\J~jl..,;. .-::. ~:x:iV,?'4 --"'Vide Commencement Certificate dated 17t 11 March, 2020 bea r·ing . . ,. .,. . _,. ,. ~\_ ~ '· 'v " ~ ~~ - ' ;~·~ ·. '-..,. ((__~'' _..",,~~ ~ \ + . EE/(BP)/GM/MHADA-22/0293/2020/CC/1/New issued by ... "/,7 ~ ;t ( (!- 4,,~_· !tf_ ~~: E~. utive engineer, B.P./Cell, MCGM addressed to M/s. Misf/~(. . /J :s UJ ( ' ~. ~ , "~~ ' l ; 4' ~~_(~ e;:~-:~ };"~·c;.,S:' truction Pvt. Ltd., the Execu~ive Engineer, gra~ted permission~~~ , \. v <.~, \\ ~ \:_~.;,·· . -~_· ·:~ .,), :_: , '''-'(.;'· -~.·:~ . mencement of the construction of the new bu!ldlr1g on the satd* ....., • \ ·. #:·, ~~·r:r~;::.::~\~;;,>_ nd on the terms and conditions contained therein. ~ '~~~~~~~i)!llt! -~ -""'xv. Vide Deed of Rectification dated _ September, 2020 executed between Nehru Nagar Anand Co-operative Housing Society Ltd. (the said Society) as Society and Mishal Construction Private Limited (the Confirming Party) as Developer, notarized before the Notary Public, the parties rectified the Development Agreement dated 11th November, 2010 by incorporating the the amendments in the Development Control Regulation of Greater ~IJumbai (DCPR-2034) for development of i.~;e said Property and added certain further terms and conditions to the Development Agreement dated 11 til November, 2010; B. The said Society, the Members of the said Society and the Confirming Pa·rty represent and confirm that: ~ t v ~ / / ~) (i) the Confirming Party has obtained various permissio~,Wr\ifica~s, offer letters, no objections etc. from MHADA, MunicJp~ 1 <;oll>ora ion o ~ - . ~ ~. L 'j-3\ Greater Mumbc:r (MCGM) and other Gov - -·- ... ':.)t~~ -~ }hereafter commenced with the redevelopm nt~ f~~ said proper~~ -.751 L(-"~pprovals"). The Members of the said Society have vacated their }~:. __ .. /fiats/units in the said Buildings. The said then existing Building No. 76 has been demolished pursuant to the approvals obtained by Municipal Corporation of Greater Mumbai (MCGM) and after the vacation of the flats/units by the Members of the said Society in the ~ said then Building No. 76 and iiand:r:g over the said land and the entire said building unto the Confirming Party. The details of Approvals obtained by the Confirming Party are more particularly annexed and marked as Annexure"_"; _...., ~ (ii) The said Society and the members of the said Society (as per list ~- Annexed as Annexure - ' - - ' hereto) are entitled to the said property and/or the members of the Society alone are entitled to (----· \ (iv) No Notice/s is/are received from either local There are no easement rights created under any document or by any /' ("'_. covenant or by prescription in respect of and/or upon the said ~ ........ >" property or any part thereof. .-' (vi) There are no minors having any right, title or interest, whatsoever in ..... the said property. (vii) The said property is non-agricultural land and is situated within residential zone as per the Development Plan promulgated by MCGM. (viii) That the said Society has paid all the Assessment Bills/ Revenue/taxes, payable in respect of the said property up-to-date. (ix) The said property is demarcated and surveyed and there is no dispute as to the boundary of the said property. (x) The name of the said Society is yet to be entered in revenue I ~ collectors' records such as Property Card etc. in respect of the said ~- - .. ') (/. j/-J ::;.:..~--;!.::-::::-:/'. ~ ~!'V\~ J .:c; I ~ ._1 _,.. _ _..,. / .... ~ -- <' \\--~~" ~ • AD ;/ 1 ",_ ~ ( \ " "i .f \""'i 0 1., L,, I0"'-? !. ,,. . 1 j \ : .: '.) Q I'K ..;.-·----~L__, land. (xi) . Save and except the Development Agreement and Power of Attorney . . .. . . , :. rec;JJ:ed in clauses A (viii) and A(ix) neither the Confirming Party nor rnw··' ·: .ijS(~ ;. ~· the s.id Society nor the members of the said Society has/have . b==~~:::.==1-:=-:::-~--,=~~~ into any agreement for assignment or otherwise assigned the ment rights and redevelopment rights granted by the said ,::.:;.:.;::::;:~-:;_;;;;.:;~.::-=-..:...·=·""':.::···:t·;.:·---~~=7=1 in respect of the said property or any parts thereof in any ~-r~-._., _.....~-~,...:...::::~~::;::~:---···- whatsoever to any third party and/or created any adverse rights In respect of the development rights and redevelopment rights granted by the said Society In respect of tlie said property or any parts thereof in favour of third party; (xii) All municipal taxes, land revenue, water charges, electricity charges, ground/rent/taxes etc., payable to the State Government, and the electricity authority end any other concerned authority in re:spect of the development rights and redevelopment rights gr·anted by the said Society in respect of the said property are paid and there are no dues payable to any of the aforesaid authorities. ( xiii) There are no prohibitory orders or any attachment orders or otherwise any liabilities in respect of the said property or any part thereof; ~~-~ ~~: ~ E~ ~l.lfr-,,. .;p- qpf?. !<7 ...,.":".:_ ~,:· -~.,., ~-~~;;}·~~- f~~r:Cf'i~ :;..- her than the consent~ a~d n~ objec~ions obtained, n_o third party //~'( ,~~c -·~"~ ~~ \00.. ent and/or no obJeCtion 1s requ1red to be obtamed for th~e il~. ~ I'< , ·'"' (.;?f. •-•"1 ,~~ \_t~ "'h_~_~---· ·_. ··.:W;. •. ~-. ')''\· {,?:':··,~ _· ;._,.· p. ~ ~· -~)L'. J ' ,. I ses of completion of the transaction contemplated herein; f~ ~ ~ c ~.~?'· ~.--. ~~-v·\_~:·,:~_-._·:~: ~ ~~e no encumbrances, mortgages: lis p~ndens, liens, notices f~l \ \'( :'.:_:/_?'_ "*( "~7~~;;;-_ . . . . ~::_.:~-.'-:'.~').,_~ qu1S1t1ons or easement or outstandmgs m respect of the sal~-~ _ ·,-:.;: . .~;:;~i property or any part thereof and that the said property or any part~ thereof is 1::::~ s•JI--j?ct matter of any pending suit or attachment either before or after judgment from any court I tribunal I quasi-judicial authority; (xvi) There exist no arrangement/s with the Municipal Authority or any other body or person whereby fu!l beneficial enjoyment of the said property is restricted, terminated extinguished or curtailed or whereby any SUrf) of money had become charged or payable out of the said property. (xvii) There is no judgment, Government debt, annuity, lispendens, mortgage, writ of execution or any charge, encumbrances, bequest, trust or any deed or document affecting the title of the SEI:id Society to the said property. (x·;iii) Neither the said Society nor the Confirming Party have not received any n'..Jtice ur1cler Maharashtra Regional Town Pl.anning Act, ~/ '0;. ~ y -~ j~ \ ') . j <-.. .;::. . :.~ ,___ _ -~··' .->::_.-----<. . . e~"'.::- ~(.1 ~ ~ The Urban Land (Ceiling & Regulation) Act, tt/ie""E'f)icl4emiTCDn~rseS""?~r---t or under any other statutory enactment or r--~......,.~~-;,.;a.:.:..,~~;:.;-1 requisition on for any work to be done wi property. (xix) Th~re is no debt and or liability in respect of the said property or in respect of the income and profits thereof due to and in favour of the Government or the Municipal Authorities and all the charges of public nature, income tax, and other revenue imposts in respect of the said property have been duly discharged up to date, there is/are no proceeding/s pending for the recovery of income tax, capital gains tax or any other tax for the time being in force due from the said Society and that there is no attachment and/or penalty order under the Income Tax Act or any other Act imposed/ levied upon the sc:.id · property. The said property or any part thereof is not otherwise . --' ..... attached by or in possession or custody of any Receiver, Sheriff, c: (xx) Judicial or Revenue Court or any other Courts or any officer/s thereof. rates and taxes. (xxi) No portion of the said property is occupied for reli ~ purpose. There is no any religious idol installed in an property. •)j (xxii) v --~..) *' fullest extent that may be permissible in accordance with the Development Control Regulations for Greater Mumbal, including by C' .... ~,.~ loading permissible TDR thereon as per Development Control Regulations, 1991 (DCR) and/or Development Control Promotion and Regulations for Greater Mumbai, 2034. (xxiii) Prior to execution of this Agreement, the Society has not entered into any other Agreement or arrangement with anyone else save and except with the Confirming Party for development/redevelopment of the said property by utilising TDR nor has it received any consideration in respect thereof. (xxiv) There is no material defect in the title of the said Society in respect of the said property and the same is free from all reasonable doubts and encumbrances and is marketable and there is no covenant or condition adversely affecting its right, privilege and interest so far as the quiet and peaceful possession of the said property is concerned. ~ / (x~xv)No notice has be~:n issued to ~ncluding any notice for ~ . \' -~IJJ_ M--~- ·~ ADJI11~2_:.:!L,Ii:_~ . \ ,vt// ?._CfL5/K I ! •/ ') r' ,, . ..-- ~-'----- .... 3 : os- '. I\ 'P'"'C'C•'::' . c.. ;.J ..... ,) ____ _i ____p____ - r_, :.:.r.~~-~~~'~:J:·J~.~ :,"!t~l':e~'t'(:.""JII<'~~~f'' ~! .:·;: :~IOO:~"Tt'-;-~!1:''!~-;-~':..::, -c ·-~,.. ·~fif•;:;·.-:·':>:":"'~'!' y:,•:•::~·~··~,!'J:Itf·----110 acquisition or requisition or set-back or set , forward) under Government of Maharashtra, the City of Bombay Improvement Trust Act or under the Municipal Act or any other Local or Public body or Authority. (x~viL]he said Society, the Members of the said Society and the \,. .----(fj-.-~"'!":i;,...,:-.-..-,---.-:Co"firming Party are aware and acknowledge and agree that, relying ~ I~n the aforementioned representations and declarations the n· [ ' ~'::l ~::: .. ~· · :.~ , ~ • erty and/or the members' rights to obtain on mvnership basi ~ \\ -~ \\;.; C'.:.:~· ~) ~ flats and/or residential premises as contemplated hPreu ~ ~[: '-\'' \~. _·~:'_,_~.-~ 't··..' r;-.pl'! , ; . ·. .~~. r,.-!t-~('J~ \ ~ ·' ~ ! d/or their right, title and interest therein including by wc.y of s~~ ~ .. ~ ·-<>·.,,. ,."-·· --- ~~ ~~-" ~ransfer, lease, lien, mortgage etc. without consent of the Developer '-.,'- "uP,lfll-t: --~- '--::::=.::.:-.::~ until the Occupation Certificate from the Authorities in respect thereof and possession of such new flat/s has/have been handed over to the respective members after completion of construction as contemplated hereunder. (xxviii) On receipt of certain amount towards corpus and other amounts the existing members of the said Society handed over possession of their respective premises unto the said Confirming Party and MCGM has demolisl1ed the said then existing building No. 76 and commenced the construction of the proposed new building. Presently part of the plinth of said new building has been constructed as rer the plans sanctioned and the approvals, sanctions ana t-~ermissions from the various Authorities, in respec:t thereof. c. ( i) The Developer has also represented to the said Society that the Developer is financially sound and has necessary expertise and ~ ~ y - -~ .~::::~r~ ./ ~~v n·· . . .· '"'"' _:_--~-) ;·.'""'...,./'- I ~ / :-_~!---- ........... (f)~- 9 wherewithal to carry out work of redevelop,ent co.r~~d p.:...':f\1,;; \ within the time stipulated herein; .. (ii) The Developer has represented to tl e said Sueletv that tfie ~ . . . ..-:1!1 - · ... Developer has passed necessary resolutions for entering into these : p;.)-e_- presents and execution of all other necessary d.ocuments and writing ----·----._ __ and the Developer shall furnish copies of all such resolutions to the ~ /said Society before execution of these presents. ~ # 0 ~ The said Society, the menobers of the said Society and the <· Confirming Party have independently investigated th~ financial soundness and expertise of the Developer to execute and complete the project of that regard and thereafter the said Society had in their Extra Ordina~r:y:,__-.-_...... General. Meeting/s held on resolved to grant Re- ,fl- g.__ ~ ............- .... Development Rights in respect of the salci property to the Developer (r\ ~ ~ ~ hereunder i.e. together with right to sell the additional y ( vremises, flats, commercial premises, podium, and stilt and 0~ ~~,,.. --, ;.,.a and marked as Annexures - " " & .:___: respecti -,: ') ~ ) . of the Resolution passed by the Develope•· is hereto an "~ ../ Annexure-" "· .. . ,-' * )(i{t I I E. In pursuance of the Resolution passed by the members o ~ 'r1'?7. Society as aforesaid in favour of the Developer , the said Society has by its letters dated 08/03/2023 and respectively, unanimously confirmed appointment of the Developer i.e. M/s Star Rise. for the purpose ~~ of redevelopment of the said property by accepting the offer of the ~ ~ r . .,_~ ' Developer ·in the manner and on the terms and conditions hereinafter ~ , ' appearing. Hereto annexed and marked Annexure - " " is a copy of the said Appointment Letter dated 08/03/2023; ~· F. In view of the aforesaid circumstances the Parties hereto are desirous k:._7L of entering into this Development Agreement on the terms and conditions hereinafter appearing. NOW THIS DEED WITNESSETH THAT AND IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO THAT: 1. It is agreed and declared that the aforesaid recitals shall constitute and form a part of the operative part of this agreement as if the same were S:-'ecifically set out herein and incorporated hereinafter verbatim. <¥ _____.: '· -~ 2. The said Society, the Members of the said Society and the v· ~'\":irming Party hereb~ warrant th~ness of the statements made in ~ l j / J .~. ···.-·.. ~.,.......,,.~ ~ '/(i ,,.. - 4<•• - - ------ ~;, / v )'~ ~ /~ I v --- < ...... ....-....... ADJ/1!0C:>J1/It0 /2ffL3/K Pace~) r;----r-·-- 1Ss-=- _ _ _ .___ L _ _ _ ___, / / ··.~~~~.:;-::...'! -:-.--: ...r~-- ~ ,ff:,.... P • !& ••ntP.ut•NtrJISWt:1Mial59 '* .::':':':::::-i :·~:~:i~H:::tf!~1"1":.:-''"'....·:-:::t-~~·~-=-~:r;~!!:~~!l!m!il:l!""'.'J?I'!11"'·,.....,-----~~~ the foregoing recitals and conscientiously believe the same to be true, the Developer has agreed to enter into this agreement and to undertake various obligations hereunder on the strength of the premises contained herein. 3. In consideration of the premises aforesaid and as stated hereinafter, the said Society hereby grant and confer unto the Developer which the Confirming Part,;· hercb·..- confirms:- ~-~---ao;;:;;;~~~~:====-• ' evelopment . rJ9hts and Authority and/or Authorities and/or ~ c~....:~ L.L t Is for construction of a new building I buildings on the land -·"·~- ... ---··;:.·;m;:~:t".tt~ .... ::. · ··~· g Survey No. 229 and 267 and CTS No. 12(part) -~~~-~=~·~,..~~·--=...-r-=r·~ asuring 805.59 sq.mtrs. (alongwith tit-bit area) situated at -w:-.m "' Nehru Nagar, Kurla (East) in Greater Bombay in the Registration District and Sub-District of Mumbni, Suburban (Hereinafter referred to as the said land) pursuant to the demolition of the b~tilding No. 76 (the said Land and the said Building No. 76 are hereinafter for the sake of brevity referred. to as the said property and more particularly described in the Schedule hereunder written) and'constructing a new building/s thereon by utilizing and consuming FSI of any nature ~::::::ru::~.JWhatsoever which may be consumed used and loaded on the said 4, ~':-_ ; :_!.~ ~-"" ~Er.r., d or any portion thereof in accordance with the plans and '/.'!'(,~ .!.' 1 · I ~~. "'ations which may be sanctioned by Muoicipal Corporation Of ~l~·r~.. ~t~- ~~ ; (;; ®'b HO.~s~. ~ . .\and Area Development Authority (hereinafter referred to ~\~ ("l< _ -~.. $HAD ) and/or any concerned authorities from time to time a v .-...~,~~~~~~-..\::sub'· \..~if ...... t to the rules, regulations and bye-laws of the MCGM and all t '·~~~~ · ... _ er concerned statutory bodies and local authorities . ii. Save and except the residential flats and the car parking spaces to be handed over to the Members of the said Society, and residential flats and Comme;cial Shops to the Confirming Party grant all rights to the Developer to sell, transrer, assign, mortgage and/or charge and/or permit user on leave and license and/or cre.Jte third party rights in respect of the flats/shops/units and allul all car parking spaces to the Developer's transferee/s in the new building/s to be constrycted on the said Land or. any portions thereof and with all the appurtenances and free from all past debts dues and encumbrances. iii. Grant development rights and re-development rights in respect the said property or any portion thereof by construction of building/s thereon, under the laws applicable in respect thereof. 2. According!';'. the said Society and the Members of the said Society hereby appoints the Developer to re-develop the said property in accordance with the relevant, applicable and permissible regulations of Development Control Regulations, 1991 (OCR) and/or Development ~- ~ ~ ___ __, />S~,/'-~ J ' C. {--·: _./~ /, 1 Control Promotion and Regulations for Greater Mumbai, ·2034 including any amendments thereto in future and subject to the terms and ctditions and the consideration specified herein. \ (f){(Wi ... <:t . 3. It is agreed between the parties that the Dev lope~~aflii e ti~ to use entire FSI and to acquire and procure permi TOR and load the same on the said property, as Jjer Deyel(.;>pment CantQ;}I .. - - --' Regulations Act 1991 and/or Deveiopment Control Promotion and Regulations for Greater Mumbai, 2034 for exploitation of full FSI Le. development potential and the cost of procuring TOR, cost of redevelopment - *--' and other incidental costs shall be borne and paid by the Developer alone. " The said Society and/or the Members of the said Society shall not be called upon to contribute any part of such costs under any circumstances whatsoever. 4. (' ~ ...,....,~~~~ J I ~:j*) -;::.'!'"' them in new building/s with amenities as set out and hereto annexe ·~ Ann·exure " - " for the purpose of re-housing the said existing members of ~ the said Society on what is popularly known of "Ownership Basis". (a) The Society will deal only with the parking allotted to the society as ·op ~--:7 per MCGM norms and all the existing members of the society are free to deal with his/her right to property accordingly entitle to sell, transfer his/her Flat as per market rate . 11'~ 6. In consideration of the Society granting the re-development rights as j7~- aforesaid unto the Developer in resp~ct of the said property:- (a) the Developer shall construct for and on behalf of the said Society and all the Members of the said Society (Listed at ~~ ~ Annexure __ hereto} and/or their respective successors in title , at the cost, expenses and risk of the Developer alone, new building/s (hereinafter referred to as the new Buildings"} and -~ shall allot and grant unto each of Members (joint members be considered as one member for this purpose) as per the D.P. .... I# Remarks on the said property, one self-contained residential flat admeasuring a carpet area of 550 sq.ft. RERA carpet area each ("New Premises") as ~rules In respect thereof laid down ~ ~ (\__.. 4/1~~ ADJ/'i 1 C< ·. : 1l (1o I 2(Y2.J)K \~ -~ 85 ~-- ~~- Pages ,,.,.._lmM._,..,JIIfl'$"N!:!\Ii~;~-..,~~~;~:;;.ttr!-·-~:;.-,..:n .; .... ,_, J.rr.~~·-•<~l"n ..... -. -'""' :-• .-..--,,.. ~-•·o~r ..... -,.,. . .._ ....... ~..- ... ---~~~,.----~-- - - - - ____ -----. -----~------~~u .. ~!.-:d ..~~-··-~· ;'.;~~,:.... -~·- ..:..:::;r:::l!~"-* ' PM ··~..:~.:-.iBittlli~~~-l- -.~'t~~:-·,~- ~. ~.:·-.:c7.1~;'1.~~~tr;"~r: , IJ.···_,·_~!-lL'tllli:"~·~"!:~~---.ioi..a t m by Municipal Corporation of Greater Mumbai (MCGM), SRA and/or such other Competent Authority in the new building/s to be constructed on .the said property on what is popularly known as ~ownership basis" In lieu of their existing residential premises In L__ __ _ --r ({'5!\tvf • <\ L~ ;;., ' ·~K '(.~rr;k~1_,~Jf '\ P· I '/!!_ the documentation required for the same to be ;Jorne anq,,,pa_1c:;'M\.'-·~ _I q; '\,, ;:.;-;---~!3'rn~.J~;t.,l.@. · nfirming Party and/or their Nominee/s). . ..~~ . ., ' ·' '-•·' .':J ~\~ <~~ ·<::~~~1~::~~;~- .~~ ........"m. Upon execution hereof, the Developer shall be entitled and shall have right and license to enter upon the said property as a licensee of the said Society to enable the Developer to carry out all activities in connection with the redevelopment of the said property. Further, within an estimated period of within a period of 24 months (with a further grace period of 6 months ) from the date of further Commencement Certificate (Time being Essence) redevelop the said property as contemplated hereunder, subject to the terms anci conc'::ions of all approvals, sanctions and permissions required in law for construction of the said new building as per sanctioned plans in respect thereof unless extended in writing by the said Society and subject however to force majeure viz. war, flood, enemy action, injunction from any Court, change in policy of the MCGM or any other authorities or any prevention in law, and the Developer shall complete entire r2development work and obtain Occupation Certificate in respect of the New Premises from the Competent Authority and put the Members in possession of their newly constructed Permanent Alternate Accommodation. ~-- .,. 1'\'·\ v ~· MJ s:~- \?--"~/ ·..:. . _':;:-··.('··· j ::- f~· 7 . ; ! f' "" .-/ I -, l. ·, . 9. In the event of any and all increases in FSI in respect the said p:ro~erty or TDR Loading rights and/or any othe1 rights inc.r;~ .Qf ~he redevelopment contemplated hereunder, being · iA- le1 ... hj····· Developer alone shall be entitled to all such increa es in FW~ri ·hri ~ ; or portion thereof and the said Society, Members of the said Society and Confirming Party hereby undertake not to make any claims in relation thereto. The Developer during the project completion period mentioned in the Agreement will be entitled to all increases in FSI in respect of the said Property or TOR loading rights and/or any other rights in respect thereof would not be beyond total complete project i.e till Full Occupation certificate for the newly constructed building. 10. In the event some of the existing members of the said Society are t'l ''"•" .~ ~ t1~' t1 or. portion "' developer will give 10% discount for the same. :.I xi ·.~ 11. On execution hereof the Developer shall be entitled to do all things necessary for redevelopment of the said property for and on behalf of the said Society and/or the Members of the said Society on the said Land described in the Schedule hereto, as contemplated hereunder including but 0 not restricted to the following:- i. Applying for and approaching all Concerned Authorities Into the various departments of MCGM including the Estate Department for obtaining the necessary approvai/NOC/permission for redevelopment of the said property. ii. - Apply for and obtain an order of amalgamation in respect of the said Land. iii. Applying for and obtaining fresh sanction of plans from MCGM and/or other concerned authorities. iv. Applying for and obtaining fresh Intimation of Approval (IOA) and/or Commencement Certificate (CC), sanctioned plans in respect of ~ redevelopment contemplated hereunder including IOD/IOA/CC in respect of the said property from the MCGM and/or other concerned di J ~thorities; -~~ ~/ 5 C\\ /- '! .f- r / ~~ (rllo "'F - ~ . t~ I ~;: r ~ a. 12~)1 d _(}.;or ~ ~~~ <"y ... per the said sanctions, permissions and approvals; ~<-:\ ~( t -.J ( .... v \'i!.Xo' ,!..., '\I .. . '' II "'( ~)! ·: . .... ' 14 t i 1 1, is further agreed and confirmed by and between the Parties that ·n*.· ' ~~ ~\i.....t~ rp - ',_·. . . ··~ ~« ~ th.?'J# t any of the member/s of the said Society is/are desirous to s e " _ ''::....\~~I\..:._. >~~~ :?'~~~d -~p ose off their respective existing flats and shares of the said Society ~- · ently held by them and/or their rights in respect of the said new premises - ·- to be constructed and allotted to them in terms hereof, that the Developer and/or its nomir:eP/s shall be entitled to a first right and/or option to purchase the same. In such event the member/s will intimate the same to the Developer in writinq. The Developer shall within a period of 15 days from receipt of intimation as aforesaid, hold meeting with such member/s, discuss and decide on consideration and all other necessary terms and conditions. Further, upon terms having been agreed, the sale shall be concluded within a further period of 15 days, failing which the member/s shall be entitled to deal with and/or dispose of their existing flat and shares or new flat to be allotted in terms hereof, c:s the case may be, to ani' third party of their choice without further reference to the Developer. 13. The said Society, the Members of the said Society and the Confirming Party agree and undertake that they shall not create any third party rights in respect of the said property and shall not jo any act whereby the title to the said property of the Society may become defective. Further the said Society and/or the Me~of the said Society and/or the ~ ~< ~ _-/). ..._,-/..7 ' .•. _....-L-~-- -- . .--/--- / .... ·~' '• ..__ ,_ !. Confirming Party or any other person/s claiming _ shall not in any manner howsoever obstruct or hlnder ~a&ment of\th~ 1 - 1 said property by the Developer. 14. The Developer shall be on and from the date dt the ~~"i~~~ef¥1 JEI eo I entitled to proceed with the re-development of the said property and construction of the new building/s ·i.e. Rehabilitation Buildings and Sale B:Jildings and/or wing/s, as stated herein above and shall be entitled to do all acts, deeds, matter and things as may be necessary for re-development including the following rights and authorities. a. To issue advertisement in the newspaper and other media as may be deemed fit by the Developer announcing the redevelopment of on the said property and the sale of the additional premises, flats, shops, commercial premises, , podium and stilt car parking spaces, on the ownership basis. b. To display the sign board of the Developer on the site of the said c execution hereof. c. To enter upon and commence re-development of t by laying drainage line, water line, internal roads, pr 15. The said Society, the Members of the Si;!Jid Society and the Confirming Party agree and undertake to:- a. sign and execute all necessary forms, declarations, undertaking, affidavit, letters etc., as may be required for obtaining permission by 0 the Developer delivering the same to them and shall co-operate fully with the Developer to obtain the permissions, approvals etc. from all concerned authorities in respect of the re-development contemplated hereunder. b. sign and execute individual members' agreements for permanent alternate accommodation of each of the premises to be allotted in the new building/s and individual members irrevocable power of attorney ~ ~ in favour of the Developer and other necessary writings, papers etc. for the re-development contemplated hereunder. If Power of Attorney found misused against any development policy or any statutory provisions of law would be void. ~ C., sign and execute and/or cause to be signed and executed by all necessary partiE!S the proposed Plans and Applications and Proposals li ~---- -- . Page~---\ ~l ~~ L--------____1-- ·---- ------------·- .»10.:~-~~.~:~·. .u"l:;::-:;>;:~~~-Pm:m:.~rrr~~~--nam""''""''""'"'·,_...__ _..,,__ J Authorities for re-development of the said property including for construction of building/s and/or revised or modified Applications, for the purpose of re-qevelopment contemplated hereunder and/or to transfer the said property to the name of a society formed on --...---::::111'::::==~"~-=-~=:==-=-~=;;;m~lgamation of the said Society and/or Society/Societies to be L i ,..~..ror,ed of the occupants of the new building/s to be constructed as ~~c__c..., mplateJ hen;:under. Such applications and proposals shall be ltted with such particulars and information as may be desired by :--~- :;::- tANDeveloper. Amalgamation to be done only after Confirmation from the existing society. 16. The purchasers of the units in sale building shall become members of either or both the said Society and/or the amalgamated Society to be formed by the Members. Thereafter each such new member so inducted shall be entitled to all rights as member of amalgamated Society L be formed by the Members of and shall be liable to pay regular taxes, maintenance charges and other charges as may be payable by all members including the Members of the said Society. Amalgamation to be done only after Confirmation from the existing society. 17. The Confirming Darty has prior to execute hereof allotted certain of the said Society and said Society are entitleci to grant development rights to the Developer as contemplated herein. It is further agreed and confirmed that in the event any permission, NOC or consent for redevelopment of the sai ~~ property as contemplated hereunder is or are required from any Appropriate Authority or any charges payable to them for the purpose contemplated herein, the same shall be obtained by the Developer at its own cost, charges and expenses and. neither the said Society nor the Members of the said Society nor the Confirming Party shall be responsible to pay any such costs, charges etc. for the redevelopment of the sa!d property. However, the said Society and the Members of the said Society shall co-operate and provide all reasonable assistance in all respects with the Developer for the same. 19. The said ~od? .. ':' and the Confirming Party hereby agree and declare that all rent/outgoings until the date hereof have been regularly paid to MCGM by Members and in case demand is received in respect of such outgoings the same shall be borne and paid by the said Society and/or the %-- ~~ ~ .5 M~ ·-~>, ~~~: ~:~--~: ------~ ---·.::y ·L1 .. /') <.... __ J:-~ ..