Sobha Strada

Ar. Neeraj Gautam, Associate Architectural Executive and Ms. Asha, Chartered Accountant briefed about the facts of the project. Ms. Shilpa Malik (Director), Sh. Sanjeev Kumar (Director and Sh. C.M. Batra (AR) are present on behalf of the promoter. Sh. Amit Yadav, Sh. Pramod Yadav and Sh. Vinod Yadav, are present on behalf of the landowners and state that they shall sell the units to be allocated to them in terms of the collaboration agreement after the completion certificate is obtained by the promoter and an undertaking in form of affidavit will be submitted by them in the Authority shortly. Further, they are in the process of mutually allocate the units between the parties and same shall also be submitted in the Authority. The AR of the promoter states that with respect to the amendment of land schedule annexed with the license no. 162 of 2022 pursuant to the demise of Sh. Sahib Singh, an application is made before the DTCP and the amended land schedule shall be submitted to the Authority once obtained. As far as the allocation of units between the landowners and the promoter is concerned, both the parties are in the process of amicably allocate the units amongst the parties and the list of allocated units will be submitted to the Authority shortly. Further, the promoter proposes to submit the DD/BG of Rs. 25 lakhs each as token of their security to submit the environmental clearance, fire scheme approval and service plans & estimates approval within four months of grant the registration. It is also expressly undertaken that in the event of failure to obtain and submit the aforesaid approvals within the stipulated time frames, the said security amount(s) shall be liable to be forfeited by the Authority. The AR request to grant registration to the project subject to the submission of EC, fire scheme approval and service plans & estimates approval within 4 months, road access permission within two months and mining permission before commencement of construction and above DD/BG along with remaining deficiencies before issuance of the certificate. The Authority observes that, DTCP has granted final permission for change in beneficial interest favour of M/s Sobha Developers (Pune) Ltd. and others vide order dated 21.11.2024 subject to condition that: (i)                 The new entity shall settle all the pending/outstanding issues, if any, in respect of all the existing as well as prospective allottees. (ii)               The developer company i.e. BNB Builders Private Limited shall continue to be solely responsible for compliance of provisions of the Act/Rules as well as terms and conditions of the license and the terms and conditions of LC-IV & IVB bilateral Agreements executed with Director. The Authority has taken note of the submissions made by the Authorized Representative of the promoter regarding the non-availability of the aforesaid statutory approvals as on date. In view of the submission of three Demand Drafts / Bank Guarantee, amounting to Rs. 25,00,000/- (Rupees Twenty-Five Lakhs only) each, in favour of the Authority, the promoter is directed to submit of following approvals: a.       Fire Scheme Approval: within 4 months from the date of grant of registration, b.       Service Plans and Estimates: within 4 months from the date of grant of registration; and c.        Environmental Clearance: within 4 months from the date of grant of registration. Further, the promoter shall submit the road access permission within 2 months from the date of grant of registration and mining permission before the commencement of construction. In the event of non-submission of any of the above approvals within the prescribed time frames, the corresponding security amount shall stand forfeited by the Authority, and such failure may also attract additional regulatory action as permissible under the Act of 2016, Rules and Regulations made thereunder. Approved as proposed subject to rectification of deficiencies mentioned above at S. No. 21. Also, in accordance with the permission for change in beneficial interest granted by DTCP vide order dated 21.11.2024, the new entity i.e. M/s Sobha Developers (Pune) Ltd. shall be acknowledged in the registration certificate as BIP holder and a condition with respect to settlement of all the pending/outstanding issues, if any, in respect of all the existing as well as prospective allottees by M/s Sobha Developers (Pune) Ltd. shall be incorporated in the registration certificate. The Registration Certificate shall be issued after deposition of above BG/DDs and rectification of other deficiencies as listed above at S. No. 21.