Notice dated 01.04.2009 to prospective members of IRS fraternity in respect of Housing Project at Ulwe being undertaken by IRS (Mumbai) Housing Co-operative Society with the Developer Integrated Spaces Ltd.

1. IRS (MUMBAI) HOUSING CO-OPERATIVE SOCIETY, MUMBAI
Invitation to enroll new members
1. IRS (Mumbai) Housing Co-operative Society (Society, for short) was set up
in 2006-07 to provide affordable housing to the IRS officers in Mumbai.
Subsequently few members were taken from outside Mumbai Region. Meanwhile,
we got many queries from IRS Officers (DR) all over the Regions. We had
discussed with the Builder for accommodating some more members which he
agreed on the same terms and conditions. The Society has had an Executive
Committee. The Executive Committee of the Society has obtained various
proposals and identified freehold land in Ulwe node of Navi Mumbai for its
residential towers. The Society entered into an MOU with Shri Kanti Savla for M/s
Shah Construction Company (later incorporated as M/s Integrated Spaces Limited)
for purchasing land and constructing flats in Ulwe node. The locational advantages
of Ulwe include being in the vicinity of New Proposed International Airport, having
some of the best civic amenities provided by CIDCO, being in the vicinity of Navi
Mumbai SEZ and JNPT, being linked by a railway station next door and being
linked by the proposed trans harbor sea link between Sewree and Nhava Sheva. M/s
Integrated Spaces Limited (Developer, for short) has purchased adequate plots of
land for developing IRS Towers in Ulwe node and has also submitted building
plans as per mutual discussions. The Location of the site can be viewed from the
web page www.cidcoindia.com., www.navimumbai.com .
2. The General Body Meeting of the Society held on 26th
February, 2009,
approved the building and floor plans of its project in Sector 21 of Ulwe Node, Navi
Mumbai. Thereafter, on the auspicious day of Gudi Padwa on 27th
March 2009,
“Bhoomi Poojan” ceremony was conducted. Chief guest for the ceremony was Shri
Shaikh Naimuddin, Member (P&V), CBDT and guests of honour were Shri
P.C.Chhotaray, CCIT, Mumbai and Shri Prem Verma, CCIT (Retd.) founder
president of the Society. In the ceremony, besides the members of the Society,
members of IRS fraternity at Mumbai were also invited. The ceremony was a huge
success in terms of arrangements as well as attendance by the members of IRS
fraternity. During the course of ceremony and thereafter, the members of the
Executive Committee received several inquiries and requests about the possibility
of enrollment of new members. The matter was discussed by the Executive
Committee with the Developer who agreed to accommodate some more members as
they are hopeful of getting more land adjoining the existing plots of land. Following
the same, it was decided by the Executive Committee to enroll new members on the
following terms;
a) Members will be enrolled on payment of non-refundable fee of
Rs.15,000/- for the membership of the Society and submission of duly
filled in membership forms by 30th
April 2009.
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2. b) Members will get the flats at the same terms and conditions as the
original members except for nominal increase in membership fees from
Rs.10,000/- to Rs.15,000/-. The terms and conditions with the
Developer are specified in the MOU dated 31st
December 2007 entered
with the developer except for a small change. MOU can be viewed at
http://www.slideshare.net/sandipgarg/slideshows. The only change in
the MOU is in respect of calculation of built-up area which was to be
calculated at 130-133% of the carpet area. As per actual drawings, the
ratio of built-up area to carpet area worked out to 141%. After
negotiations with the developer and as per the decision taken in GBM
on 27.02.2009 (para 7 of the minutes), the built up area was agreed to
be calculated at 136% of the carpet area. The copy of the minutes of
GBM can be seen at the above mentioned web address. The
presentation made by the Developer in the GBM can also be viewed
there.
c) As per the plans approved and rates agreed, the flats will have
following cost structure:-
i) Three BHK with Carpet area 1005 sft.
ii) Loading for common areas and amenities is 35-36% extra of carpet
area.
iii) Floor rise cost will be in the range Rs.40-80 psf. from 7th Floor
onward and a price advantage for 1st
floor to 4th
floor will be between
Rs.40-80 pst.
iv) Rate is Rs.2500/- psf. on Built up Area.
v) Actual such as Registration fee, stamp duty etc. extra.
vi) Stilt parking charges extra and optional.
d) As per the MOU signed by the Society and the Developer,
each member should pay to the Developer an amount of Rs.6.50 lakh
after he acquire land for construction. The desirous members will have
to make payment of at least Rs. 4.00 lakhs (in addition to Rs.15,000/-)
by 30th
April, 2009 for getting membership of the Society.
e) The remaining unpaid amount will attract interest @ 12% per annum
from 1st
May 2009 onwards. The interest is levied for the late payment
so that members who have paid on time is not put in the disadvantage
position for their prompt payments.
f) Those members who make full payment of Rs. 6.50 lakhs by 30th
April
will be considered for allotment of flat and the allotment is slated for in
the first week of May2009. Those who are not able to make full
payment of Rs. 6.50 lakhs by 30th
April will be considered in
subsequent allotment(s).
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3. g) Desirous members can make payments in favour of “IRS (Mumbai)
Housing Co-operative Society” by cheques/ demand drafts payable at
Mumbai at par. Cheque/ DD along with the completed application
form may be sent to Shri. D.S.Benupani, Addl. DIT(Inv.), R.N.408,
Scindia House, Ballard Estate, Mumbai- 400038. Tel/Fax 022-
22635323.
h) The Society is discussing with the banks for loans at favorable rates. It is
expected that chosen bank will grant loan for rest of the cost of flat
provided the members fulfill eligibility requirements. Banks have also
indicated that income of the family members will be taken into
consideration for giving maximum loan to the desirous members if
they are made co-owners.
i) In conclusion, members are required to make payments of Rs.6,65,000/-
including Membership fee of Rs.15,000/-by 30th
April 2009. They are
also required to fill in the membership forms and option forms giving
options in respect of the floor, stilt parking etc. Copies of these forms
are enclosed with this letter and can also be downloaded from the
abovementioned web address.
j) Members are requested to make prompt payment so that allotment of flat
will be carried out by end of April or beginning of May’09. This
process of flat allotment will facilitate to have individual purchase
agreement of the members with the builder which is mandatory for
obtaining early group financing from Banks for which negotiation is
on.
k) You are also requested to note that there is considerable information on
Navi Mumbai, Ulwe Node on internet and you may like to apprise
yourself with the same. Please visit www.cidcoindia.com.,
www.navimumbai.com. It may be noted that the site is located at near
to New Mumbai International Airport (proposed), New Mumbai SEZ
promoted by big industrialist of Mumbai and closest to the proposed
New Trans-Harbour Line connecting Mumbai & New Mumbai.
l) Please furnish your complete address with E-mail ID, Cell No., Tel/fax
for quick communication.
Following persons can be contacted for further information/ clarifications:-
1. Shri D. S. Benupani 9819547981 benupani@hotmail.com
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4. 2. Shri Jayaram Raipura 9892711525 jraipura@yahoo.com
3. Shri Sandip Garg 9892107893 sandipgarg@gmail.com
(D. S. BENUPANI)
Secretary
Dated: 1st
April 2009
Mumbai
i) Attach : 1. Application Form
2. Option form
ii) Copy to all IRS Association Units and CCIT(CCA)for wide circulation among Members.
iii) P.S. The Society Membership is opened to all IRS Officers (DR) both serving and retired
and their immediate family members as joint owners.
MEMBERSHIP CUM OPTIONS FORM
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5. TO BE PROVIDED ALONGWITH THE NON-REFUNDABLE PAYMENT OF
RS.4,15,000/- BY MEMBERS OF THE IRS(MUMBAI) HOUSING CO-OPERATIVE
SOCIETY, MUMBAI FOR THE PROJECT AT ULWE AT NAVI MUMBAI
1. Name of the Member :
2. Civil List No.
3. Address of the Member :
4. Alternative address of the member
5. Telephone No.(Office,Residence, Cell)
Pl. provide Cell No. for easy communication
:
6. E-mail Id :
7. Cheque details: :
i) Cheque No. :
ii) Date :
iii) Issuing Bank :
8. Floor options, mention the floors which you will opt for
Floor Option Choice of floors for the option
1st
& 2nd
flr or 3rd
& 4th
flr or 5th
& 6th
flr or 7th
& 8th
flr or 9th
& 10th
flr.
Floor Option 1
Floor Option 2
Floor Option 3
9. Option for stilt parking
Cost of Stilt Parking Whether you want stilt parking at this rate?
Rs.2,00,000/-
10. I hereby confirm that I agree to the decisions taken in the General Body Meeting of
the IRS(Mumbai) Housing Society held on 16th
October, 2007 and 27.02.2009
undertake to make all payments for the acquisition of the flat on the due dates as
advised by the Executive Committee of the society. I also agree that the deposit of
Rs.15,000/- and Rs.4,00,000/- (now being made) will not be refunded to me except in
the event that the project is abandoned. In that event, I agree that proportionate
expenses incurred in connection with the project may be deducted and only the balance
amount be refunded.
(Signature)
Name :
Date : Designation :
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6. TO BE PROVIDED ALONGWITH THE NON-REFUNDABLE PAYMENT OF
RS.4,15,000/- BY MEMBERS OF THE IRS(MUMBAI) HOUSING CO-OPERATIVE
SOCIETY, MUMBAI FOR THE PROJECT AT ULWE AT NAVI MUMBAI
1. Name of the Member :
2. Civil List No.
3. Address of the Member :
4. Alternative address of the member
5. Telephone No.(Office,Residence, Cell)
Pl. provide Cell No. for easy communication
:
6. E-mail Id :
7. Cheque details: :
i) Cheque No. :
ii) Date :
iii) Issuing Bank :
8. Floor options, mention the floors which you will opt for
Floor Option Choice of floors for the option
1st
& 2nd
flr or 3rd
& 4th
flr or 5th
& 6th
flr or 7th
& 8th
flr or 9th
& 10th
flr.
Floor Option 1
Floor Option 2
Floor Option 3
9. Option for stilt parking
Cost of Stilt Parking Whether you want stilt parking at this rate?
Rs.2,00,000/-
10. I hereby confirm that I agree to the decisions taken in the General Body Meeting of
the IRS(Mumbai) Housing Society held on 16th
October, 2007 and 27.02.2009
undertake to make all payments for the acquisition of the flat on the due dates as
advised by the Executive Committee of the society. I also agree that the deposit of
Rs.15,000/- and Rs.4,00,000/- (now being made) will not be refunded to me except in
the event that the project is abandoned. In that event, I agree that proportionate
expenses incurred in connection with the project may be deducted and only the balance
amount be refunded.
(Signature)
Name :
Date : Designation :
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