Terra Elegance Independent Residential Floor

Sh. Sumeet Engineering Officer and Sh. Ashish Dubey Chartered Accountant briefed about the facts of the project. Sh. Om Prakash Singh (Advocate) is present on behalf of the promoter. The validity of the registration of the plotted colony project wherein above floors are proposed to be constructed already stand lapsed. Further the revenue sharing with the land owners needs to be clarified in terms of section 4(2)(l)(D) of the Act of 2016. The AR of the promoter seeks three weeks’ time. The next hearing to be attended by the plot owners in person and are to be impleaded as Co-Promoters. The matter to come up on 08.07.2024.

Sh. Sumeet Engineering Officer and Sh. Ashish Dubey Chartered Accountant briefed about the facts of the project. Sh. Dishant Sanduja (Director), Sh. Om Prakash Singh (Advocate) and Sh. Anil Kumar (AR) are present on behalf of the applicant promoter. Sh. Vijay Kumar, Ms. Urmila Kumari and Ms. Gayatri Devi (Plot owners) are also present. The compliances in respect of the DDJAY plotted colony, of which the current application for registration of residential floors is a part, have already been made and the penalty amount for allowing continuation under section 7(3) has also been deposited. Further, the plot owners and applicant promoter present in person states that the 40% share of the land owners will be withdrawn only after obtaining of OC and not from 70% RERA account till project is completed. The current application is for registration of residential floors over 18 plots purchased by plot owners from Promoter (MV Buildcon Pvt Ltd) of DDJAY plotted licensed colony out of which 4 plots are in name of applicant promoter and the remaining 14 plots are in the name of family members who have assigned the rights in favor of applicant company for construction, marketing, sale and completing the project through a registered MOU & POA in favor of M/s Terra Infracon Pvt. Ltd. as developer for the project. All the land owners shall be a confirming party in the BBA as well. The building plans have been approved by DULB, Haryana.  The promoter further states that the remaining minor deficiencies will be rectified within three days and requests to grant the registration to the project. In view of the above, the authority decides to grant registration to the project and the registration certificate will be issued after submission of deficit documents. Further, a condition to the effect that the 40% share of the land owners will be withdrawn only after obtaining of OC and not from 70% RERA account till project is completed shall be incorporated in the registration certificate.