Lodha Golf Course Road

Ms. Deepika, Planning Executive and Sh. Ashish Dubey, Chartered Accountant briefed about the facts of the project. Sh. Amandeep Singh (CEO), Sh. Deepanshu (GM) & Sh. Niraj Lodha (AR) are present on behalf of the promoter and Sh. Ajay Kaushik is present on behalf of the landowner (M/s Acquisitive Infradevelopers Pvt. Ltd.). The AR of the promoter company states that HSVP has allotted a land parcel measuring 1.196 acres (4,843.03 sq. m.) to M/s Acquisitive Infradevelopers Pvt. Ltd. vide Conveyance Deed No. 16177 dated 12.12.2025. Pursuant to obtaining NOC from HSVP vide Memo No. 9774 dated 31.10.2025, a JDA was executed and registered between M/s Acquisitive Infradevelopers Pvt. Ltd. (Landowner) and M/s Lodha Developers Ltd. (Developer) vide Vasika No. 16365 dated 17.12.2025, whereby the Landowner authorized the Developer to develop, market, and sell the proposed real estate project, namely “Lodha Golf Course Road,” on the aforesaid land. The AR of the promoter further states that as per the terms of the JDA, the revenue generated from the project is to be shared between the Landowner and the Developer in the ratio of 48:52, respectively and the Landowner irrevocably grants and transfers the development rights for the Project Land to the promoter. However, the Authority observes that the said JDA simultaneously provides that the agreement shall be interminable and irrevocable unless otherwise agreed between the parties in writing. In this regard, the AR of the promoter states that the promoter is in process of executing and registering an Addendum/Supplementary Agreement and the same shall be submitted in due course. In view of the above, the promoter company is directed to submit the registered Irrevocable JDA as well as GPA, and to ensure that the revenue sharing arrangement is in accordance with the provisions of the RERA Act, 2016. The promoter is further directed to submit an affidavit, signed by both parties, clearly specifying the manner in which the promoter will make the requisite disclosures and operate the relevant account in accordance with the provisions of the RERA Act, and to ensure compliance with the provisions of the RERA Act, 2016. The promoter is further directed to submit the deficit documents mentioned at S.no. 35 before the next date of hearing, The owners/directors of the landowner company shall also remain present on the next date of hearing. The matter is adjourned and to come up on 07.09.2026.

Ms. Deepika, Planning Executive and Sh. Ashish Dubey, Chartered Accountant briefed about the facts of the project. Sh. Amandeep Singh (CEO) & Sh. Niraj Lodha (AR) are present on behalf of the promoter and Sh. Rajjath Goel is present on behalf of the landowner (M/s Acquisitive Infradevelopers Pvt. Ltd.). The Authorized Representative of the Promoter states that the Addendum/Supplementary Agreement to the JDA, duly registered for the purpose of clarifying and confirming the irrevocability of the JDA, has been executed and registered, and that a copy of the same shall be submitted to the Authority today. Further, with regard to the sharing arrangement between the Landowner and the Promoter, a duly notarized affidavit executed by the Landowner and the Promoter has been submitted, undertaking compliance with the provisions of Section 4(2)(l)(D) of the Real Estate (Regulation and Development) Act, 2016. Further, the AR of the Promoter states that the approval of the fire scheme is under process and that the said approval has not yet been obtained as on date. The Authorized Representative of the Promoter undertakes to obtain and submit the said approval within six months from the date of grant of registration. In this regard, the Promoter Company has submitted a Demand Draft amounting to Rs. 25,00,000/- (Rupees Twenty-Five Lakhs only), bearing DD No. 504406 dated 21.08.2026, as a security deposit for timely compliance with the requirement of obtaining and submitting the fire scheme approval. It has also been expressly undertaken that, in the event of failure to obtain and submit the aforesaid approval within the stipulated time period, the said security amount shall be liable to be forfeited by the Authority. The Authority has taken note of the submissions made by the AR of the promoter regarding the non-availability of the approval of the fire scheme as on date. In the event of non-submission of the aforesaid approval within the prescribed time period, the said security amount shall stand forfeited by the Authority, and such failure may also attract additional regulatory action as permissible under the Real Estate (Regulation and Development) Act, 2016, and the rules and regulations made thereunder. Further, with regard to the sharing pattern, the Promoter shall ensure compliance with the provisions of Section 4(2)(l)(d) of the Real Estate (Regulation and Development) Act, 2016. The condition to the same effect shall also be incorporated in the Registration Certificate. Approved as proposed, subject to rectification of the deficiencies mentioned above. The Registration Certificate shall be issued after submission of the remaining deficiencies mentioned above, including correction in Form A-H, online DPI, and submission of the registered irrevocable JDA, along with the deficiency mentioned at S. No. 35.