Imperial Estate

Ar. Neeraj Gautam, Associate Architectural Executive, briefed the facts of the case. Sh. Sunil Kumar (AR), Sh. Shrikant Kumar (Legal Head) and Sh. Puneet Satija (CA) are present on behalf of the promoter. The promoter has made requisite changes in the online DPI and the hard copy of the same is yet to be submitted. The application for the approval of service plans and estimates has been made in the concerned department and is in final stage of approval as the Bank guarantee of Rs 79,22,400/- vide bank guarantee no. 191GT01220020001 dated 22.04.2022 has been submitted to the Department of Town and Country, Planning, Haryana and the copy of the same is submitted to the Authority. It is noted that the promoter has mortgaged the project land to avail loan of Rs. 35 crores from CSL Finance Ltd. The AR of the promoter is directed to submit an undertaking that as per section 11(4)(h) of the Act of 2016, after execution of the registered agreement for sale for any apartment, plot or building, as the case may be, if any mortgage or charge is made or created then notwithstanding anything contained in any other law for the time being in force, it shall not affect the right and interest of the allottee who has taken or agreed to take such apartment, plot or building, as the case may be and the RERA account with 70% of the collections shall remain absolutely charge/ lien free and shall only be used for the project. The deficit documents along with hard copies of corrected online DPI and form REP-I be submitted in the Authority within three days. The Authority decides to grant in principle registration to the promoter subject to the submission of bank guarantee of Rs. 25 lakhs on account of approved service plans and estimates and hard bind copy of DPI in the Authority within one week. Accordingly, the BG of Rs. 25 lakhs be submitted with the Authority along with an affidavit that within 2 months service plan shall be submitted otherwise the Authority shall be free to encash the BG. The matter to come up for compliance on 16.05.2022.

Ar. Neeraj Gautam, Associate Architectural Executive, briefed the facts of the case. Sh. Sunil Kumar (AR) and Sh. Puneet Satija (CA) are present on behalf of the promoter. The promoter is required to make requisite changes in the online DPI and form REP-I (Part A-H) as per the approved service plans and estimates. The AR of the promoter has submitted an undertaking that as per section 11(4)(h) of the Act of 2016, after execution of the registered agreement for sale for any apartment, plot or building, as the case may be, if any mortgage or charge is made or created then notwithstanding anything contained in any other law for the time being in force, it shall not affect the right and interest of the allottee who has taken or agreed to take such apartment, plot or building, as the case may be and the RERA account with 70% of the collections shall remain absolutely charge/ lien free and shall only be used for the project. In the hearing dated 09.05.2022, the promoter was directed to submit a bank guarantee of Rs. 25 lakhs on account of approved service plans and estimates, however, the promoter has obtained the final approval for the same and a copy of service plan and estimate approval letter is submitted through the e-mail to the concerned architectural executive. The hard copy of the same be submitted with the Authority. The Authority decides to grant registration subject to the submission of hard copies of corrected online DPI and REP-I (Part A-H) in the Authority within one week from the date of grant of registration.