Welcome at Ideal Niketan 1

Agenda 2 SrlAgenda ItemSlide number 1Current Status3 2Resolved & Pending Issues Expenses overview6 4Challenges7 5Association formation8 6Conditions from Ideal Group9 7Impact of maintenance & non-maintenance Proposal to handle the defaulters12 9How can we help you13 10What we need from you14

Ideal Niketan - Current Status Block ABlock BBlock CBlock DTotal Type of flats1450-3BHK-28 flats BHK-07 flats BHK-07 flats BHK-14 flats BHK-07 flats BHK-07 flats BHK-07 flats BHK-14 flats BHK-07 flats Total Number of Flats Flats sold Flats NOT sold Registration complete Registration NOT done Families already moved

What are the issues which are resolved SrlItem 1Overall Completion delay 2Delay in obtaining in Completion Certificate (CC) 3Basic Amenities like water, cleaning, lighting, CCTV, Intercom, Notice Board in lobby 4Delay in completion of Community Hall, Gymnasium, Landscaping, common toilets 5Speed Breaker in driving paths 6Excessive electric billing 7No provisioning for BSNL connection 8Outsiders were parking cars inside the premises 9Sticker for residents vehicles 10Slope at entrance / exit 11Benches & Dustbins in garden 4

What are the issues still pending SrlItem 1Maintenance of Ideal Niketan beyond 30-Apr Formation of Resident Company to run the maintenance from 01-May Removal of urinal outside the front boundary 4Beautification of the outside the front boundary 5Light polls are at too far distance & lighting is not sufficient 6Neon reflectors at turning points in driving paths 7Concerns around Guard Services ( Female guard ) 8No provision for AC water drainage pipe 9Puja donations for last year to be settled 5

Overview of expenses as given by Ideal Group SrlHead of ExpensesMonthly estimates 1Facility Management & Security expenses259,150 2Power & fuel ( Common area ) - Electricity100,000 3Water Treatment expenses15,000 4Lift Maintenance35,000 5Garden Maintenance22,000 6Repair & Maintenance Expenses10,000 7Pest Control Expenses5,000 8Tank Cleaning expenses5,000 9House Keeping consumables5,000 10Maintenance Expenses of Club Services1,300 11Diesel & Fuel Expenses5,000 12DG Maintenance ( A/C MAINT )2,000 13DG AMC cost ( existing 160 KVA )1,500 14Conveyance Expenses1,000 15Carriage Expense1,000 16Printing, Stationary & Postal Expenses1,000 17Site Maintenance & Cleaning Expenses - Garbage lifting3,000 18Misc. Expenses5,000 Total 476,950 Area in Sq Ft188,160 Monthly INR 2.5 / Sq Ft 470,400 6

What are the challenges we have Challenges There are pending issue which Ideal Group has to resolve before Ideal Group moves out Almost 50% of owners have not done their registration & hence there is idea about the maintenance fee of these flats and there is NO sinking fund for these flats Collection of Maintenance charges from all those who have completed their registration but yet not moved Very less number of families which have moved into Ideal Niketan and hence we have less number of heads involved in running the day-to-day business 7

Formation of association Ideal Group is in the process of formation of company named “IDEAL NIKETAN FLAT OWNERS ASSOCIATION” on a limited liability basis instead of association and this will be completed by end of March’2016 Flat owners will be share holders Sinking fund will be share holding ( It is approx.17 Lakhs as of today ) Share holders will elect the Chairperson who will run the maintenance of premises PAN number has been obtained and bank account is being opened Service Tax registration is in-progress 8

What is that Ideal Group has offered Conditions under which Ideal Group will continue to support Ideal Group is ready to continue the do the maintenance of the property for another 6 months beyond 30-Apr-2016 Ideal Group want us to get involved in day-to-day operations and approve all the expenses/bills Ideal Group will NOT put any money from their side & would utilize the sinking fund if they do not get the required money from the maintenance fee Ideal Group are ready to pay the maintenance for 15 un-sold flats Ideal Group will chase all the un-registered flat owners to get the registration completed & get them pay the maintenance fee from 01-May-2015 until date If we want then we can re-negotiate or look for other vendors to provide the current services, in case we are able to get it done at lower cost 9

If there is a proper maintenance then.. The property will remain maintained & beautiful The maintenance cost will be less The sinking fund will not be touched This will help investors to sell or let-out their flats easily For others, you get a good value of your flat whenever you sell it 10

If there is lack of maintenance fund then.. Sinking fund will get eroded with in less than a year which has been created from the people who have completed their registration. This will also result into no funds being available for big expenses like painting or any civil work after few years With due course of time the property starts losing it’s sheen Small compromises starts happening making us penny wise pound foolish If problem become severe, we will not be able to pay the AMC for things like Lifts, DG set, Water treatment plant etc. 11

What we are proposing to do for defaulters As per the sale agreement, you will be charged to pay an interest of 2% per month ( which is 24% yearly ) in case you do not pay the maintenance on time Once the company is formed, you will be required to pay a penalty of Rs 5 per sq ft. per month further in case you are among the wilful defaulters The list of defaults will be published on the notice board During the resale of the flats, the share holding will not be transferred to the new buyer Legal notice will be sent from the company No interior work will be allowed The defaulters will not be allowed to use the basic facilities like Gym, Community Hall etc. 12

Let us know if we can be of any help ? Mutation of your flat - We are in touch with Ideal’s lawyer and he is taking INR 5,500 to get the mutation done Flats for investment - If you are willing to sell you flat, please let us know so that we can direct prospect buyers to you. The FM Office can keep the keys of your flat and show the flat to the buyers You can write us at 13

What help we need from you ? Payment of the maintenance charges preferably yearly or half-yearly We are currently proposing to collect maintenance charges from 01-May at the same rate which Rs 2.50 per sq. ft. per month. This will be the ad-hoc rate. Once we get an idea about the expenses, this rate can be decreased or increased Please come forward with your suggestion to maintain & run the property Please provide you Phone Number & Address and let us know if you have plans to shift here or not 14

EEARLIEST SETTLEMENTS OF IDEAL NIKETAN 15