Jeevan Nagar Co-operative Housing Society Ltd.(REG.NO.BOM/HSG/812 OF 1964)

BLOCK NO.C-1/4, MITHAGAR ROAD,MULUND (E),MUMBAI 81. Ph. 25637463

Date: 11.06.2009

To,

All the members

Subject: Proposed Re-development of Land & Property of Jeevan Nagar CHS ltd.

It is nearly four months since the special general body meeting held on 01/02/2009,

gave its unanimous mandate to the managing committee to proceed ahead with the Re-

development scheme. Since then, the managing committee is continuously making

efforts to overcome the hurdles which were time consuming and required lot of detailed

work for the process of Re-development scheme. The managing committee is pleased

to give here below the steps taken so far in implementation of the scheme.

LETTER OF INTENT:-

Pursuant to the decision taken by the special general body meeting held on 1st Feb.

2009 to appoint M/s. Matoshree Infrastructure Pvt. Ltd. as the Developers for our Re-

development project, a letter of intent dated. 03/02/2009 was issued to them. The

Developers have given their confirmation vide their letter dated 05/02/2009.

OPTION FORMS:-

The option forms for the selection of a new flat area desired, from six categories was

distributed to the members. All the members have diligently responded within the

stipulated time. A few members had made some suggestions/request. Having regard to

these suggestions the Managing Committee had discussions with the Developers. We

are pleased to inform the members that most of the suggestions are being incorporated

in the layout and building plans by the Developers. The Developers have agreed to add

two more categories of flats of 600 sq. ft. (2 BHK) and 800 sq. ft. (3BHK) in their plans

for choice of members. Any member who desires to opt for 600 sq. ft. (2BHK) OR 800

sq. ft. (3BHK) flat, should submit his/her revised option in prescribed option form

available in the office, and return it duly completed to the society office not latter than

21 st June 2009, within office time i.e. 10 AM to 06.00 PM and Sunday 11.00 AM to 01.00

PM from.

This will be final opportunity for selection of new flat area. The members who do not want to revise there options submitted earlier are not required to submit any option for now since their earlier option stands.

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CONVERSION OF BIG FLATS INTO TWO FLATS :-

Some of the members had requested to examine the feasibility of their entitled area to

be converted into TWO FLATS. We have requested the Developers to make this

feasible for the existing members only. Any member can divide his/her entitled area into TWO FLATS subject to the following conditions.

1) That if the total area of two flats exceeds the entitled area the concerned member

shall have to pay for the additional carpet area at the rate of Rs.8000/- per sq. ft.

of carpet area.

2) The 50% (half) of the total additional projection area of two flats (like flower beds)

will be charged at the rate of Rs.8000/- per sq. ft. for the additional projection

area.

3) The additional cost of one no. kitchen including plumbing, electrical fittings and

additional main door and miscellaneous items will be Rs.1,75,000/- on fixed

basis.

4) The cost of stamp duty, adjudication, and registration and out of pocket expenses

for the second agreement for the additional flat will be borne by the concerned

member.

5) The member concerned shall not be entitled to additional membership. That is

TWO FLATS would remain in the name of the same member by holding the

same share certificate.

6) The members who want to revise their option for TWO FLATS are requested to

submit an application within stipulated time which will be displayed on the notice

board.

OPTION ABOUT SOCIETY’S OFFICE PREMISES:-

The Managing Committee has decided to opt for an entitled area of 540 sq. ft. for the

existing office area of 360 Sq.Fts. This would be in addition to the office premises to be

provided free of charge by the Developers. The Managing Committee shall endeavor to

make the best use of 540 sq. ft. + office area (free of charge). in the best interest of the

members. (after approval from General Body)

ALLOTMENT OF NEW FLATS :-

Having regard to methods of allotment of flats as given in the bye-law no.76 (a) the

Managing Committee has in its meeting held on 16.03.2009 unanimously decided to

recommended the method of seniority of existing members based on the members

register maintained by the society. Accordingly new flats will be allotted in the proposed

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towers on the basis of the dates of admission of the members. The list of seniority as

per the record of the society will be notified on the notice board and also will be kept in

the Society office for perusal and information of the members in due course..

The detailed scheme of the allotment procedure/rules will be placed before the General

Body for its approval.

TAXATION :-

The members have been raising queries about capital gains vis-à-vis taxation. The

taxation aspect varies from individual to individual depending upon income, sources of

income and standard deductions allowed under Income Tax rules. The Managing

Committee has decided to arrange for a workshop on taxation matter. The date, time

and place for workshop for taxation will be intimated to the members sufficiently in

advance.

Resignation of Mr. Abhijit A. Sawant (C-1/9) from the Sub-committee:

Mr. Abhijit A. Sawant has resigned as a member of the sub-committee on 16/03/2009

and the Managing Committee has accepted his resignation at its meeting held on

25/05/2009.

The Managing Committee has appointed Mr. Sanjay Nawani (B-7/8) (Associate

Members) as a member of the sub committee in place of Mr. Abhijit A. Sawant at its

meeting held on 06/06/2009, Shri. Sanjay Nawani is a qualified Civil Engineer (B.E.)

and also has successfully completed course of construction management programming.

APPOINTMENT OF PROFFESSIONALS:-

The special general body in its meeting held on 1st Feb.2009 had unanimously

authorized the managing committee to appoint professionals i.e. Advocates, Architects,

Tax Consultant for the proposed Re-development and fix their remunerations in the best

interest of the members, in terms of the resolution no.5. Initially, the Managing

Committee received four proposals/quotations each for Advocates and Architects. The

Managing Committee made a fresh attempt to adhere to procedure and called for the

proposals/ quotations giving the scope of work and stipulating the final date of

submission to the following Advocates and Architects.

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ARCHITECTS ADVOCATESM/s. Niwate & Asso.. M/s. Seelan & Associates.

Ar. Shri Vijay Turbadkar . Shri Rajeshwar M. Deshmukh.

M/s. Popat Narkhede & Asso. Shri Ajit Karandikar.

M/s. Sapre & Associates. Smt. Rekha Pendharkar & Asso.

M/s. Architectural Associates Miss. Komal Kandhaarkar

Ar. Shri Datta V.Damle

M/s. Harish Gawankar & Asso.

The Managing Committee received sealed quotations within the stipulated final date

from four Architects i.e. Sapre & Asso., M/s. Architectural Asso., Shri Datta V. Damle

and Harish Gawankar & Asso, and from four Advocates i.e. M/s. Seelan & Asso., M/s.

Karandikar & Vaidya Asso., Smt. Rekha Pendarkar & Asso. and M/s. Komal

Kandhaarkar.

The Managing Committee handed over all the quotations to the Sub- committee (Re-

dev.) for evaluation and ranking. The Sub-committee (Re-dev.) analyzed all the

quotations and had personal discussions with all the four Architects and four Advocates.

The Sub-committee (Re-dev.) submitted the detailed report dated 23rd May 2009 to the

Managing Committee giving evaluation and ranking to all the above four Architects and

four Advocates.

The Managing Committee in its meeting held on 25th May 2009 unanimously approved

the report dated 23rd May 2009 submitted by the Sub- committee (Re-dev.). The

Managing Committee selected the professionals who ranked no.1 as Architects and

no.1 as Advocate which are as follows.

ARCHITECTS:- M/s. Architectural Associates- Estd.1942

Name of the Associates.

1) Ar. Anand Pandit. (B.Arch),

2) Ar. Devendu Sawant (B.Arch.),

3) Ar. Dushyant Desai (B.Arch),

4) Ar. Abhijit Sawant (B.Arch)

It is a partnership firm and Shri A.M.Pandit is the Sr. Architect of M/s. Architectural

Associates, which is having four Architects as partners, three Architects are full time

employees, and in addition, two site Architects and two supervisors. M/s.

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Architectural Associates has given a list of 29 projects of different types along with

their quotations. It is observed that they have carried out Re-dev. Projects for

housing societies also. They have quoted their fees at 1% of the cost of construction

negotiated to not exceeding Rs.90,00,000/- including fees for structural, electrical,

plumbing and sanitary consultancies. They have assumed the cost of projects at Rs.

100 crores. They have also given their schedule of payments to be made at different

stages. In addition, they have insisted to have site office for them so that they can

keep constant supervision during the progress of work. They agreed to co-ordinate

with Ms. Komal Kandhaarkar, Adv. for preparation of Re-dev. Agreement, Power of

Attorney, Tri-partite agreements and other documents. The Managing Committee

found that M/s. Architectural Associates have adequate professional experience to

supervise the Re-dev. Project of our society. The Managing Committee also

observed that their fees include structural, electrical, plumbing and sanitary

consultancies. Therefore the entire package at 1% of construction cost not

exceeding Rs.90,00,000/- will be more beneficial to the society, and will be in the

best interest of all the members of the society. Looking to their experience, their

perceptions and their suggestions during our personal discussions as well as the

quantum of fees, the Managing Committee came to the unanimous decision that

M/s. Architectural associates are very much suitable for our Re-development

Project.

Advocate/Solicitor:-

Miss Komal Kandhaarkar- Advocate & Solicitor

Name of the firm -“The Law House”

Qualifications- LL.B, LL.M, Solicitor (England & Wales)

Name of the Associates- Advocate V.S.Khurana.

Advocate Miss. Komal Kandhaarkar explained that she has specialization in property

matters and she is currently working as Legal Advisor for housing societies. She

said that necessary approval could be obtained from the Dy. Registrar for utilization

of sinking fund by following proper procedure under Maharashtra Co.op. Societies

Act 1960. In case of any disputes between society and developers or between

members and the society or between any third party and the society, she will handle

all such matters and will charge separately depending upon merits of each case.

She suggested obtaining a declaration and Indemnity Bond in favour of the society

from the members who have raised housing loans against their flats. She is of the

opinion that the society’s representatives can participate in the joint meetings to be

held with the Advocates of the Developers. She has quoted her total fees Rs.3.25

lakhs. She has clarified that it is necessary to have the opinion and comments from

the Architects on all the plans and important drawings before finalizations of the Re-

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dev. Agreement. She has clarified that she will be available to the society for

consultations/discussions and even for important meetings of the general body. The

managing committee came to the unanimous decision that Advocate Miss. Komal

Khandaarkar is capable, knowledgeable and most efficient amongst all the four

Advocates. She has also handled arbitration cases and is found suitable as

Advocate for our Re-development Project.

PAYMENT OF PROFFESSIONAL FEES:

Thus, it is to be noted that we have to pay professional fees about Rs. One Core

(including relevant taxes) within a period of four to five years. The Managing

Committee has studied the financial condition of the society and we are glad to

mention that society can pay the professional fees as per schedule given by them

without putting additional financial burden on members; in the event of our Society

having to pay any litigation fee or such other expenses in future, we will have to raise

additional fund.

PLANNING OF BUILDINGS:-The developers M/s. Matoshree Infrastructure Pvt. Ltd. have shown PowerPoint

presentation to the managing committee members about re development of our

society. The managing committee along with subcommittee attended the

presentation on 2nd June 2009. The developer along with their architect explained us

their concept and vision about our re-development. The developer has also

incorporated our major suggestions in new planning.

It is to be noted that a draft building layout plan for your suggestion is displayed in

societies office from Dt:11/06/2009 and final building plan, lay out plan with detailing

and incorporating all amenities and municipal submission plan with detail FSI & area

calculation will be put up to the members in AGM. / Sp. GM for approval.

The developer has submitted the building layout plan comprising of three wings

containing four flats of different typologies.

The managing committee has requested the appointed architects M/s. Architectural

Associates to give overall comments to that effect.

The members are requested to go through the plans displayed in the office.

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Development Agreement & other related documents:

The development agreement, power of attorney and other related legal documents

are expected soon from the M/s. Matoshree Infrastructure Pvt. Ltd. which will be

checked and approved by our appointed professionals. All the draft documents will

be available for the members for giving their final comments (by giving sufficient

time) before placing them before the General Body for its approval.

The office bearers of the society will be available for the discussion/queries in the above matter from 12/06/2009 from to 21/06/2009 08.30 PM to 09.30 PM on working days and 11.00 AM to 01.00 PM on Sundays.

Your co-operation will be highly appreciated.

Hon. Secretary

Annexure:a) Comparative statement of advocates/solicitor.

b) Comparative statement of architects.

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