92
Sr.
No.
Land Category Wise
Land
Area (In
Sq. Ft.)
% of
Total
Estimated
Developable
Area (Sq. Feet)
% of
Developable
Area
Estimated
Saleable Area
(Sq. Feet)
% of
Saleable
Area
3
Memorandum of
Understanding /
Agreements to acquire /
letters of acceptance
and / or group
companies are parties
0
0.00%
0
0.00%
(i) By Itself
0
0.00%
0
0.00%
(ii) Through Other
Entities
0
0.00%
0
0.00%
4
Joint Development
Agreement with
partners
0
0.00%
0
0.00%
(i) By Itself
0
0.00%
0
0.00%
(ii) Through Other
Entities
0
0.00%
0
0.00%
Total
64,894.72 100.00%
3,18,215
100.00%
1,41,882
100.00%
1
X’czar –Project- Our Company has acquired the said plot of land from Mr. Jethanand Lalwani, Jethanand
Lalwani (HUF), Mr. Dilip Lalwani, Mr. Haresh Lalwani, Mrs. Ganga Lalwani, Ms. Padu Lalwani, Mrs. Juhi
Motwani and Mrs. Jyoti Godhwani by entering into purchase agreement through Rodium Properties on
December 9, 2009 at an aggregate cost of Rs. 1,600 Lakhs. The seller of the Land does not have relationship
with our Company / Director / Promoter of our Company.
The land acquired by our Company for the project has a clear title and registered in the name of our Company.
The said land has been mortgaged to Indian Overseas Bank as a prime security for the project term loan
sanctioned by the Bank vide its letter dated January 1, 2011.
2
X’enus – Project - Our Company through Rodium Properties acquired the development rights of CTS No. 545
of Matunga division admeasuring 3,412.19 sq. ft. by entering into a Development agreement with Mr.
Ramniklal Joshi and Mrs. Bharati Joshi on May 15, 2009 at an aggregate cost of Rs. 40.33 Lakhs along with
three self contained flats admeasuring 1500 sq. ft. On June 8, 2009, our Company through Rodium Properties
also acquired an adjoining property bearing CTS No. 2/545 of Matunga division 5,882.53 sq. ft. from Mr.
Govind Dhamanmal Gajaria, Mr. Kaku Alias Gokaldas Dhamanlal Gajaria and Mrs. Ekta Vijay Thakur at an
aggregate cost of Rs. 263 Lakhs. The sellers of the Land do not have relationship with our Company / Director /
Promoter of our Company.
The land acquired by our Company for the project i.e. CTS No. 2/545 of Matunga division is free from all
encumbrances and has a clear title and registered in the name of our Company.
3
X’point - Project, Our Company through Rodium Properties acquired the development rights of the aforesaid
plot of land by entering into a Development agreement with the Prem Bhavna Co-operative Housing Society
Limited on May 7, 2010 at an aggregate cost of Rs. 1267.51 lakhs. The seller of the Land does not have
relationship with our Company / Director / Promoter of our Company.
No approvals are required to be taken by our Company in respect to acquisition of the said land.
93
(C) KEY INDUSTRY REGULATIONS AND POLICIES
The following description is a summary of the relevant regulations and policies as prescribed by the
Government. The information detailed in this chapter has been obtained from the various legislations that are
available in the public domain. The regulations set out below are not exhaustive, and are only intended to
provide general information to the investors and are neither designed nor intended to be a substitute for
professional legal advice. In this section, unless the context requires otherwise, any reference to Our Company
refers to Rodium Realty Limited. No action or omission should be taken or contemplated based on the contents
below without independent verification with each prospective investors’ legal advisors, and any prospective
investor who does without such independent verification and based on the contents herein below would do so at
his/her/its sole risk and without recourse to Our Company, Directors of Our Company or the Lead Manager or
any other person or entity whatsoever.
We are primarily engaged in the business of real estate development. Since our business involves the
acquisition of land and land development rights, we are governed by a number of Central and State legislation
regulating substantive and procedural aspects of the acquisition of, and transfer of land. For the purposes of
executing our projects, we may be required to obtain licenses and approvals depending upon the prevailing laws
and regulations applicable in the relevant State and/or local governing bodies such as the MHADA, Municipal
Corporation of Greater Mumbai, the Fire Department, Airport Authority of India, Maharashtra Pollution
Control Board, the Environmental Department, the City Survey Department and the Collector for the projects in
State of Maharashtra.
Additionally, our projects require, at various stages, the sanction of the concerned authorities under the relevant
Central and State legislations and local bye-laws. While the real estate development industry remains largely
unregulated, we are subject to land acquisition, town planning and social security laws. The following is an
overview of the major important laws and regulations, which are relevant to our business as a real estate
developer.
(A) Central Laws
(B) Laws Specific to Maharashtra
(C) Laws relating to Employment
(D) Regulations regarding Domestic Borrowings by Real Estate Companies
(E) Laws relating to Environment
The same are discussed in detail hereunder:
(A)
Central Laws
Transfer of Property Act, 1882 (“T.P. Act”)
The T.P. Act establishes the general principles relating to the transfer of property, including among other things,
identifying the categories of property that are capable of being transferred, the persons competent to transfer
property, the validity of restrictions and conditions imposed on the transfer and the creation of contingent and
vested interest in the property.
The T.P. Act recognizes, among others, the following forms in which an interest in an immovable property may
be transferred:
•
Sale:
the transfer of ownership in property for a price paid or promised to be paid.
•
Mortgage:
the transfer of an interest in property for the purpose of securing the payment of a loan, existing
or future debt, or performance of an engagement which gives rise to a pecuniary liability. The T.P. Act
recognizes several forms of mortgages over a property.
•
Charges:
transactions including the creation of security over property for payment of money to another
which are not classifiable as a mortgage. Charges can be created either by operation of law, e.g. decree of
the court attaching to specified immovable property, or by an act of the parties.
•
Leases:
the transfer of a right to enjoy property for consideration paid or rendered periodically or on
specified occasions.
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