Suncity's Monarch Club

Ms. Nikita Mittal, Planning Executive and Ms. Asha, Chartered Accountant briefed about the facts of the project. Sh. Navneet Kumar (V.P.) and Sh. Ravi Kant Kumar (AR) are present on behalf of promoter. The Authorized Representative (A.R.) of the promoter company submits that the promoter has applied for registration of Phase-2, admeasuring 1.165 acres, and Phase-3, admeasuring 3.163 acres, comprising a total area of 4.328 acres, under Section 4 of the Real Estate (Regulation and Development) Act, 2016. It is submitted that the said phases comprise a Clubhouse and recreational area, which are non-saleable components of the project. The AR of the Promoter further submits that the Fire Scheme Approval and the approved Service Plans and Estimates in respect of the applied phases are presently under process with the competent authorities and have not yet been obtained. The AR of the Promoter undertakes to obtain and submit the Fire Scheme Approval within a period of 15 days. With regard to the approved Service Plans and Estimates, it is submitted that the requisite Bank Guarantee as required to be furnished before DTCP, Chandigarh, shall be duly furnished, and a copy thereof shall be submitted before the Authority within a period of 15 days and prior to issuance of the Registration Certificate. The AR of the promoter further submits that, in the event the aforesaid approvals are not submitted within 15 days from today and prior to issuance of the Registration Certificate, the AR of the promoter undertakes to obtain and submit Fire Scheme Approval as well as Approved Service Plans and Estimates within four months from the date of grant of Registration for which two separate Demand Drafts/Bank Guarantees amounting to ₹25,00,000/- (Rupees Twenty-Five Lakhs only) each in favour of the Authority, as security deposit towards submission of the Fire Scheme Approval and approved Service Plans and Estimates, shall be furnished before the Authority. The Authority has taken note of the submissions and undertakings made by the A.R. regarding the pending statutory approvals. In the event of failure to submit the aforesaid approvals within the prescribed time period, the corresponding security amount shall be liable to be forfeited by the Authority, without prejudice to any further regulatory action that may be taken under the provisions of the Real Estate (Regulation and Development) Act, 2016, and the rules and regulations made thereunder. Approved as proposed, subject to rectification/compliance of the deficiencies mentioned at S. No. 33. The Registration Certificate shall be issued after submission of the requisite corrections in the A-H Form, Online DPI, fire scheme approval, approved service plans and estimates along with compliance of the remaining deficiencies as mentioned at S. No. 33.