Fwd: DRAFT COPY OF MOU & SA.

[snehal donga]

FYI

---------- Forwarded message ----------
From: imtiyaz ahmad <imtiya...@dreamzinfra.com>
Date: Fri, Jan 24, 2014 at 8:00 PM
Subject: DRAFT COPY OF MOU & SA.
To: "sneha...@gmail.com" <sneha...@gmail.com>

good evening sir,

find the attachment file of mou and sale agreement draft copy.

Thanks & Regards.

Imtiyaj Ahmad
Deputy General Manager

Dreamz Infra India Pvt. Ltd.
email ID: imtiya...@dreamzinfra.com

Ph: 9845504521

[snehal donga]

I did not find points that we discussed

1) 70% carpet area details

2) Completion date was 15 months inclusive of grace period. There should not be any extension of 3 months clause for penalty period. Am i right?

[Kailash Mishra]

Snehal,

Yes Snehal they have not clearly mentioned about the completion dates.

Also Does the bank terms and conditions looks ok?

I don't see much difference than the last MOU.

Regards

Kailash

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Kailash K Mishra

[aakash agrawal]

Not just 3 months,its 8 months grace mentioned in sale agreement..yes kailash,  even I dont  see any diff in bank norms from earlier mou..

[mukesh singh]

In case of cancellation, they will refund money within 90 days instead of 60 day. And they can also extend this period as per there will by paying 10 % interest. 

With regards
 Mukesh Kumar

[aakash agrawal]

Mukesh, this has been clarified earlier that it will vary as per old mou
but still needs to be clarified..

[snehal donga]

Hi All,

I calculated the slab payments and after i did calculation i observe that slab payment is beneficial for us.

If you take closer look we are holding around 21% till we get the possesion so its really good for us

Let me know your opinion. Below is the sample calculation done for 25Lac flat cost. Registration extra

Total Flat cost	2500000
Progress	Payment	Outstanding	Tax (8.5)
25%	625000	1875000	53125
5% Sale Agreement	93750	1781250	7968.75
5% Construction Agreement	89062.5	1692187.5	7570.313
25% plinth level	423046.9	1269140.625	35958.98
25% on  20%  of construction	317285.2	951855.4688	26969.24
25% on  20%  of construction	237963.9	713891.6016	20226.93
25% on  90%  of construction	178472.9	535418.7012	15170.2
During Registration/Possession (21%)	535418.7	0	45510.59

[Bhushan Patil]

Guys,

Following points should be changed for MOU

1. Page 7 point 9.a

First Party has agreed to refund the received amount to the

purchaser within 90 working days from the date of Termination/Cancellation. In 

case,  the refund is made after Ninetieth day, the First Party has agreed to pay the

interest at the rate of 10% per annum till the payment is cleared.

This point is incorrect. Should be modified.

2. Payment terms - 100% payment on 90% completion?

   Page 3 point 1

3. Page 5 , 6.c , everywhere refnd period is mentioned as

   90 days. It should be 60 days

4. No 70% carpet area is mentioned

5. Why 3 months grace period after May 2015?

6. Penalty period is 8 months. It should be up to flat key handover

Chandan, talk on this point with imtiaz, and get it rectified. All these are imp points

Thanks,

Bhushan

On Fri, Jan 24, 2014 at 7:55 PM, snehal donga <sneha...@gmail.com> wrote:

[aakash agrawal]

Awesome shenal..this looks good. Now I particularly feel that we should ask them for mou at least because the more we delay , that delayed date will be kept on Mon...last mou was dated nov2013..now we will get mou  dated jan2014..if we keep on pushing like this , we our self are giving ampel time to dreams as 15+grace  period will be counted based on mou date ..
Please share ur opinion on this as I might not have full clarity..thanks

[Bhushan Patil]

Guys,

 

I did not get any response on this ...

Can anybody give response on this.

 

Chandan - any upadates as of Today?

 

-B

[Bhushan Patil]

---------- Forwarded message ----------
From: Bhushan Patil <yesbh...@gmail.com>
Date: Sat, Jan 25, 2014 at 1:49 PM

[aakash agrawal]

Agreed guys..request all to please respond to the emails..

[Bhushan Patil]

Few more imp points.

Chandan and Snehal , please talk on this points and add in requiredlegal doc

 

1. MD said power back up will be given as swimming pool not giving. This is not mentioned in any doc

2. Water harvesting project point also not mentioned anywhere

 

Please add these points as soon we can bcz this is getting delayed.

 

Thanks,

Bhushan

[snehal donga]

Bhushan,

regading amentiies they will not be giving anything in written. They clearly told that.

[Bhushan Patil]

I read CA Today.

For following points we will need to take care for Ekdant

Some points I didn't get 100% but found ambiguous so I mentioned my comment as a "check"

 

1. Page 6 point 8 - check
2. Page 10, point 18 not clear. Please check whether it become any problem
3. Page no. 11, point no 24 - check
4. Page no.13, point 5 - Kitchen Platform - Not mentioned that it will be height adjustable
5. Page no.13, point 5 - Windows - only 3? Or depends on no. of bedrooms?
6. Page no.14, point 17. Common Lift of Four Passengers only? Shoud be of 6 passengers min.
7. Washroom for security
8. Page 21 . point 1 - Check
9. Page 21 . point 3 -need a change I think
10. 5 year service warranty includes what exactly is not clear from CA.
   And this last one is imp

 

Thanks,

Bhushan

[snehal donga]

Hi All,

Here is the mail confirmation from dreamz on the points raised.

Please let me know if anything more needs to be clarified. On friday, once he confirms on carpet area, we can go ahead with MOU 

Thank you

Best Regards,

Snehal

---------- Forwarded message ----------
From: imtiyaz ahmad <imtiya...@dreamzinfra.com>

Date: Wed, Jan 29, 2014 at 7:35 PM
Subject: Re: DRAFT COPY OF MOU & SA.
To: snehal donga <sneha...@gmail.com>

GOOD EVENING DEAR SIR.

After going through the MOU, i observed couple of points on which i would need clarifications. Could you please revert back for below points

1) MOU date should be 20th Jan 2014 and not 24th Jan 2014- as MD sir told we will mention date in mou 20th jan 2014.

2) Carpet area will be minimum of 70% of super-built up area. This is not mentioned in MOU.

   Please confirm in which document it will be available-- regarding this i will discuss with MD sir and our directors in which document  we can mention 70% of carpet area bcz as per my knowledge we are not mentioning in MOU. need sone time till friday i will confirm.

3) In case of cancellation, Refund time limit should be as per old MOU.- we will mention in mou as per the old mou.

4) Could you please confirm on the below points for Section 5 : DURATION / TIME SPECIFICATION

   a. Time commited during discussion with MD was 15 months inclusive of grace period and hence timeline Should be changed to 12 months + 3 months grace period- we can mention 15 month in MOU.

   b. Please confirm what will be monthly rent paid in case of further delay. Previous MOU say as per Market value but this has changed to agreement between first and second party. Please confirm how much will be paid per sft- sir we will provide the rent as per the market value of this particular area, as per how much rate will be there  after 15 month in that area.

[aakash agrawal]

I am good to go with this shenal..these are the most imp action points..thanks a lot..

[Chandan Bhattacharya]

Hi all

I had tried to contact imtiaz multiple times.He has been saying the same thing that all necesssary changes will be done and he will share a draft copy soon. I think it will be great if we visit dreamz office on saturday meet imtiaz and close loop it once for all.
Imtiaz would draft it immediately and share a sample copy of it.post that the same can be franked.
He is ok with this.

Bhushan

All relevant points have been discussed and changes would be made. Cancellation clause and refund clause of 60 or 90 days..will simply delay process here..the main concern points on completion and sq feet area etc will all be mentioned.

Regards
Chandan

[snehal donga]

Hi Chandan,

I agree that refund clause/cancellation clause changes might delay but may be a day or 2 but not more than that.

60/90 days cancellation is an important clause. If they have agreed then why not to get it mentioned. It is good to have it. 

It is not big thing for them. We just have to give them in written for each one what was the refund time period in their old MOU.

In future due to some unfortunate reason, if any of us have to withdraw due to some emergency, 90 working days(4 months) is big waiting time. 

Snehal

[aakash agrawal]

This 60/90 day was never a problem I suppose... They are very much in agreement to keep it as per old mou right from day 1...this point is important one..thanks

[Kailash Mishra]

Snehal,

This looks okay to me except the bank norms.

If everyone is ok then we should go for it on Friday itself.

Regards

Kailash 

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Kailash K Mishra

[Bhushan Patil]

Let su go to Dreamz office Today or Tomorrow?

[Bhushan Patil]

I think most of the points are covered.

But some points need to be covered in some document

1. Penalty period should be up to flat hand over

2. I hope refund interest rate is mentioned in some doc

3. Constrn Agrmnt - 5 year service warranty 

Thanks,

Bhushan

[aakash agrawal]

Bhushan let's close MOU first, one at a time to avoid complications..after closing MOU will look over sale and construction agreements...

[Bhushan Patil]

Correct, that is why I have return whichever document

Thanks,

Bhushan

[prabina mohapatra]

Hi All,

 

I am Prabina Mohapatra part of this Ekdant group staying in USA right now.

 

Currently Pooja is dealing with me for rebooking the new plan and she confirmed me that Flat no-508 has rebooked for me. The Final cancellation form of my old booking has to send.I would like to chcek with the group that ,G+5 plan would have chance to approve. We are not in position to fly ..

 

Any suggestion will appreciate..

 

Thanks,

Prabina