Power Grid Sankalp Co-Operative Housing Society Ltd

POWER GRID SANKALP CO-OPERATIVE HOUSING SOCIETY LTD

Reg No. RGD/PWL/HSG/(TC)/2523/2011-12/2012

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Taluka: PanvelVillage: KhanavaleDist: Raigad410206

Date--21/08/2015

Minutes of the 3rd Annual General Body Meeting of “Powergrid Sankalp Co-operative Housing Society Limited” held on 08.08.2015 at Hotel Ramada, Powai, Mumbai.

Background:

As per Maharashtra Society Act and Rules, Clause 95 , the Annual General Body Meeting is to be held on or before 14th August of each year for taking stock of works, development and financial Accounting for the preceding Financial Year. As per the said Act ,14 days clear notice has to be given to all the Members which was complied. As per clause 101, the quorum was met and the Meeting started at 2000 Hrs.

1.0 Smt.Sachala Mishra,Member GPS 32, who was authorized By management Committee to conduct the proceeding, welcomed all Members and participants from their family. After this , She invited all Nine Elected Managing Committee Members to the dais one by one and introduced them to all the Members. Shri Shettiwar, GPS 4 could not attend the AGM . After the introduction section of all the Members, Chairman Shri V.K.Shrivastava, GPS 1 presented the Annual Report 2014-15 to the General Body. He read the salient features of Society and major milestones achieved during the last financial Year and activities since last AGM.

Subsequent to the presentation of Annual report, the statutory points as per clause 96 of the Maharashtra Society Act and rules were taken up one by One.

1.1 To read the minutes of the last Annual General Body meeting of the Society and the special General Body Meeting Of the Society ,if any and to note the action taken thereon.

Deliberations- MOM of last AGM was also attached in the Annual Report 2014-15 which was taken as read. Chairman informed that there was another general body meeting held at site on 26.01.2015 and the minutes of the same was already circulated to all.

1.2 To receive from the Committee , the report of the preceding co-operative years’s working , together with the statement of Account … showing the Income and Expenditure during the preceding Co-opeartive year and the balance sheet .

Deliberations- The annual report 2014-15 included statement of Account showing Income and Expenditure, Balance sheet for the preceding Year. The Annual Report was unanimously accepted by the General Body.

1.3 To Consider Audit memorandum, if received from the statutory Auditor….

Deliberations- Chairman informed that there are some minor Audit Memorandum like Closing Of AXIS Bank account and parking Deposit at least equivalent to share Capital. Chairman informed on behalf of the Managing Committee that actions on these fronts have been already initiated.

1.4 To declare the result of the Election of the Committee , if election to the Committee has taken place prior to AGM

Deliberations- Since there was no election in the Preceding period , there was no need to declare the results of election.

1.5 To appoint an Auditor, for the Statutory Audit for next Year

Deliberations- Chairman proposed the name of M/s Kislay Thakur and Associates to be continued as Society statutory Auditor for the next financial Year. The proposal was unanimously accepted by the General Body.

1.6 To consider any Other matters , specifically requiring decisions…

Deliberations- There was a decision taken during the 26th Jan 15GBM at site wherein it was decided that Society should go for the 10 Hectares (25 Acres ) land Scheme of NAINA so that the Infrastructure Development charges @ of approx. 385 per sqft which was coming to about 4 lakhs for Gold members and about 8 lakhs for “The Address” Members can be nullified. During the AGM also , all Members unanimously agreed for the above proposal and gave go ahead for the 25 Acres Scheme. In Phase 1 there will be 11.15 Acres which is already acquired and works has to be started in Priority . Parallally the acquisition on the balance contiguous land will continue. Accordingly the Ultimate Share capital of the members in Sankalp will get increased corresponding to about 1000 members.

On a specific query by a Member Mr Amitav Sinha GPS 392 regarding availability of contiguous land , Society Management committee member Shri Tarun Pandey GPS 209 informed that necessary tie –ups by Developer with Land owners for the Contiguous Land has been already done by developer by paying advances and hence First Right of refusal is with Developer. Mr Tarun Pandey GPS 209 on behalf of Society management committee and Developer himself confirmed that getting the Contiguous land will not be a hurdle.

1.7 To consider any important Communication received from the Registering Authority,the Statutory Auditor, Government, collector, Local Or any Other competent Authority.

Deliberations-- Chairman on behalf of Managing Committee informed General Body that there was NIL communication received from the Registering Authority,the Statutory Auditor, Government, collector, Local Or any Other competent Authority.

1.8 To Consider any Other matter with the permission of the Chair

Deliberations- There was NIL issue under this head.

2.0 After this, Smt Sachala Mishra , Member GPS 32 invited Chairman and Director Of M/S saffron Park, Developer to the Dias. .The Chairman Narendra Butala and Director Shri Pratyakshya Butala thanked the society and all the Members for giving a great opportunity to be get associated and affirmed that they will put their best efforts to develop one of the most modern and state of the Art Township in line with the RFP issued to them. They briefed all the Members about the present status and road map for the future immediate works. They informed that they have appointed M/S B. P. Developers, Australia as their main Architect supported by M/S khetre Associates , Architect from Navi Mumbai for local Laws .Further Director, Shri Pratyakshya congratulated Society for bringing out one of the most innovative RFP as per which a successful bidder was to acquire the land and do its conveyance in favor of the Society prior to getting any payments towards Flats. He informed that perhaps it is first of its kind in the history of Real estate Business wherein the Land has been transferred in the name of the society even before commencement of the Building Works. Subsequently he invited their Architect Team to give a detailed presentation.

3.0 Mr Khetre and his Team then gave a detailed presentation on the designing part of the layout and associated issues.

The strategic location of our Sankalp society and its surroundings indicating the presence of major other Real estate Players were shown by a pictorial presentation which clearly indicated the high importance for the location of Sankalp. He congratulated and complimented Society and all the Members for having selected such a strategic and important location which is surrounded by Scenic beauty of hills all around, is almost zero km from NH4 and is just about 17 minutes motor able distance from forthcoming Navi Mumbai International Airport. He further informed that the location is very strategic from appreciation point of view as it is most happening place .He also informed that Our society Boundary is touching another very high profile Society Godrej, panvel.

Subsequently, Mr Khetre and his Team displayed the map of Naina ( Navi Mumbai Airport Influence Notified Area) and informed all the Members that the areas surrounding proposed Airport is going to be developed by CIDCO including Our sankalp area and there will be planned road infrastructure, Connectivity through rails and metros , water supply by CIDCO , Drainage arrangement, Electricity supply by CIDCO in line with that done in Navi Mumbai . He informed that Our Sankalp Site which falls in the Khalapur section is covered under stage-I of Naina project. It was also informed by the Architect that Draft Development Plan for the 23 villages under NAINA has been brought out by NAINA Authorities and it is available on the CIDCO website.

Subsequently the first cut of layout of colony in the already acquired 11.15 Acres land indicating the approach road from NH-4 and locations of all Four types of quarters were also presented to the Members. Together with it the First Cut of layout of entire Township in the proposed 25 Acres with all the amenities like Club House, Open Grounds, Tennis courts, ,party lawn,Ampithetre, Garden chess Zone,water bodies,squash Courts,Badminton Court,Indoor Game area,Gym/Yoga Area,Children Play area, Swimming pool,Baby pool,pond,SPA Massage Zone,football court,cricket Pitch with net,Skating Ring children park,Golf Couse,Flower Garden,Fruit Garden etc were shown in detail one by one.

M/s.Arun Shrivastava, GPS 234 asked specifically whether Our sankalp site falls under NAINA jurisdiction or not. On this issue Architect alongwith Chairman sankalp Chairman informed the complete list of all 270 villages are availbale on the CIDCO NAINA website and our sankalp Society which is at Khanavale Village is in Phase 1 of the NAINA and its SL No is 251. He informed that there are TWO PHASES Viz Phase 1 and Phase 2 and sankalp is in Phase 1. In phase 1 only there is 23 villages for which PILOT Project has been presently launched by NAINA.

Subsequent to this , Architect informed that when sankalp had started ,it was being governed under MMRDA rules as per which the FSI of Gauthan Area (200 M radius from the village ) was eligible for FSI1.However there was restriction of Floors upto G+3 ( as a special case G+4) in normal schemes ( no handing over of Land to Govt).However in between Govt of Maharashtra appointed NAINA (Navi Mumbai Airport Influenced notified Area) and as per the latest regulations, the final NOC has to be accorded by NAINA, CIDCO.Under the 25 acres scheme, there is no height restrictions and hence they are designing all the Flats with G+7 and the intial works in the 11.15 Acres where first the approval will come for G+3 will be done keeping the foundation as per the design of G+7.

The entire layout ,its detailing were well appreciated by one and all and then the floor was opened for the clarifications and discussions on the issues by any member.

Shri Biren Mishra , GPS 254 while appreciating the layout suggested that some of the activities Locations like Tennis Court etc nneds to be kept at various locations so that members can approach the nearby ones instead of travelling to just One Location. Developer informed that all these Courts are of international standard dimensions ,and issue will be looked into at the appropriate time. Further Shri Biren Mishra GPS 254 suggested that seeing the present trend there will be requirements of Two parking lot per Member. Developer informed that as per the RFP One Parking is being given free along with each Flats and there is enough space for the second parking whoever desires at the Chargeable rates and assured that drawings will be got developed addressing the additional Parking’s

Shri Ramesh Chandak GPS 146 enquired whether the height of each flats can be increased from the standard heights . however architect informed that this will lead to overall height increase of the entire flat building having serious implications commercially as well as approvals etc.

Shri Mahesh Ambardekar GPS 243 wanted to see the detailed design of water ponds near Swimming pool (which is being provisioned for handling storm water from Hill side ). Similarly he wanted to see the sectional drawings of eleveation, Air Flow calculations and railings drawings. He was of the view that all these drawing calculations should be kept on the website.

Shri Tarun pandey, GPS 209 on behalf of management committee clarified that it will not be feasible to upload such minute Technical calculations on the sankalp Webpage due to limitations of data volume handling capacity of website and at the samne time assured that such detailing which are of interest of some few members can be provided transparently as and when such members approach the Society Management committee.

One of the members echoed that in the present layout the platinum flats are far off from the Amenities. Shri tarun Pandey GPS 209 on behalf of management committee assured that issue will be looked into. At this stage chairman v k shrivastava GPS1 even suggested that a member can upgrade to the higher version if they feel so.

Shri Chandra Mohan Bhagavatula GPS 306 enquired about the commencement status of Building works and asked about the completion of Flats as many Member would want it early for their stay.

Chairman shri v k shrivastava GPS 1 informed that all out effort are being made to tackle all related issues in a most strategic manner. He also informed that the time being taken for statutory clearances is half of the normal time being taken by others . He also informed that the procedures are very complex and many a times not controllable . The NOC from NAINA CIDCO is expected shortly and as on date it is targeted that the activities for civil construction of a Building can be started by end Sept 15.

Chairman also informed that all out efforts will be made so that first batch of sample Flats ( Few Nos ) will be made available by April 16 which is just few months deviation from the scheduled completion and even after the fact that approvals are now to be taken under NAINA .He informed that those members who are in dire need of the Flats for staying there may approach the Society Management and flats with basic facilities like water, electricity , security but off course without clubs and other amenities will be made available with proper occupancy certificates.

4.0 After this interaction session with Developer / Architect was Over, Smt sachala Mishra , Member, GPS 32 invited AXIS Bank Team. There was a detailed presentation by AXIS Bank and Senior officials informed that a special approval has been arranged by them for a Concessional processing fee of just Rs 2500 instead of their standard Rs 11000 for normal cases. They also informed that this notional amount of processing fee of rs 2500 is being kept as they are committed for door to door service for all Members pan India where AXIS bank exists. AXIS Bank Team informed that any Member irrespective of his present place of posting in India can make e-application .

Some of the salient features were as under.

1) Member own contribution(Margin) will be 10@% for loans upto Rs 20 lakhs , 20% for loan upto 75 lakhs and 25% for Loan above 75 lakhs.

2 )Last 12 EMIs waived Off: Customer can get upto last 12 EMIs waived off on

maintaining a Healthy repayment track during the loan tenure & minimum

seasoning of 180 months

Subsequent to the presentation, it was agreed between society Management and AXIS Bank Team that first the process of Project approval be completed.Once that is done, the “Agreement for sale” will be got registered and immediately after that the Scheme will be made available to the interested Members and final sanction letter will be processed by AXIS Bank.

The meeting ended with vote of thanks by Shri Vivek Singh, GPS 21, Secretary, Managing Committee.

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