Tarangini Re-Development

[Chandra Sekar JM]

Dear Sirs,
I'am one of the customer from phase-3, Malhar,MD# 3. I
have agreement and all receip[ts from AHL.I have not received any
communication from AHL,the asset handed over to Lancor.I met land
owner with group of phase 3 members at his T.Nagar office in chennai
during 2004-2006 when I was in chennai.Land owner has not agreed for
any settlement.I have not seen anywhere in TV or in news papers the
Tarangini asset handed over to other builders by AHL and land owner.In
that case how can I sign in your papers?.Let AHL inform me about the
hand over the project to Lancor.AHL came with other builders in the
past, land owner has not agreed to settle the issues.Now how can I
beleive?.Any how land owners ate my land cost and they are enjoying by
cheating the customers. AHL repeatedly says in his letter and mail,
already land cost paid to land owner for all the three phases, If the
land owner is a honest, he should come forward for registration of
phase 1,2 &3..Now you are all telling land owner is suffering due to
financial crisis, you think about especially 64 customers of Malhar &
Kalyani.Think about us also. only the land owner is suffering?. I
don't want cheat you and I want to be a honest and I don't want my
family, childrens and grand childrens should suffer by cheating
others.My request to every one,complete the building as per the
approved plan in phase1,2 &3. I don't have any objection on phase 4, 5
& 6. But do not think to demolish Malhar & Kalyani.

Thanks
V.N.Dhamayanthi
W/O S.R.Samiappan
Malhar, MD #3.

[Chandra Sekar JM]

Dear Shri Chandra Sekar, Tks for emailing the drafts. I am arranging
to get the
drafts seen by our advocates who are aware of our problems. Once
opinion is
obtained on the five drafts, further process can take place.

Regarding Group concept, most of the members from all categories are
not keen and firmly believe
two members from each group will not be a truly representative group
and are sceptical on this.
However an attempt can be made in this direction. Group -wise names &
email ids are given below;

Regd. Mr. Bipin Sukumaran bsuku...@gmail.com
Mr. M.Dhanasekhar dh...@willcomputers.com

Unregd: Mr. Bhaskar Singh bbschen...@yahoo.co.in
Mr. S. Govindarajan govi...@gmail.com

Kalyani: Mr. Chengal Rao chengal r...@sify.com
Malhar Mr. Samiappan srsam...@gmail.com

7th Member from TFOA:
Mr. K.R.Rajagopal
rajgopa...@gmail.com

Just now I saw missed call from Mr. Shekar, MD of Lancor. We conduct
friday pooja for Lord Ganapathy
in the Complex and I could not attend the call. It is too late to call
him now and I will call him tomorrow.
Regarding the list of members, hard copy is readily available. Since u
wanted to be emailed, it is taking time.

We are yet to receive replies to various queries raised thru email
well before the meeting held on 10th july. Members
are till in the dark about the sequence of events and and what point
of time registration of unregd flats is scheduled
to take place. We have our AGM on 21st August 2011. It would ideal for
all parties to get things sorted out
and arrive at a road map for registration before that.. General Body
approval can be sought on whatever decisions we take.
Fervently hoping positive developments takes in the coming days.

Regds. K.R.Rajagopal.



On Fri, Jul 29, 2011 at 4:53 PM, Rajagopal K.R
<rajgopa...@googlemail.com> wrote:




---------- Forwarded message ----------
From: CHANDRA SEKAR JM <jmch...@lancor.in>
Date: Fri, Jul 29, 2011 at 12:36 PM
Subject: Draft Agreements
To: rajgopa...@googlemail.com
Cc: rammoha...@yahoo.com



Dear Mr Rajagopal,



As per the discussions our Managing Director, Mr R V Shekar had with
you, we are forwarding herewith three categories of agreements
together with the Powers of Attorney in connection with the
redevelopment of the Tarangini Project. We will be uploading all the
attachments in the google group
(taranginire...@googlegroup.com) created for the redevelopment
purpose. As you are the president of the TFOA, we are forwarding the
agreements to you for your views.



We would be gratefully, if you could forward the address list of all
the allottees, so that these attachments are sent to them individually
as well.



Looking forward to your response on the subject matter.



With Warm Regards,



CHANDRA SEKAR J M
DGM - Commercial Services



LANCOR HOLDINGS LIMITED
VTN Square, 2nd Floor,
No.58, G.N.Chetty Road,
T.Nagar, Chennai - 600 017,
Tamil Nadu, India.
Mobile : 9884072935
jmch...@lancor.in

[Chandra Sekar JM]

Dear Mr Chandrasekhar


This Agreement is unacceptable and I fully reject it;


Naageshwaran

[Chandra Sekar JM]

Dear Mr.Rajagopal,

I refer to your trailing mail and would like to update you in the
matter of our interest in developing the “Tarangini” Project.

First of all I would like to tell you that we were informed by
Mr.Bhaskar Singh and Mr.Sheshan Kumar that a meeting was scheduled on
Sunday in your housing complex and our Mr.Rajaraman’s enquiry to you
in this matter was purely as a follow up. Rightly so, you had stated
that there are no secrets in these issues and we also believe the
same.

If you recollect in the Association meeting held in your premises
which we attended as invitees, we had stated that it was a pleasure to
deal with the Association although the issues that are for
consideration of the members are more from the point of view of them
being as “Owner”. It thus becomes necessary on our part to make the
proposition in a formal way to each owner while keeping the
Association informed so that the decisions that to be made are
collectively and individually facilitated.

Following the above said principles and using the address data base
given to us by the Land Owner, Mr.Sheshan Kumar and Mr.Bhaskar Singh
we had successfully managed to send a copy of the draft Agreement and
copy of Power of Attorney which they can read and be informed about
the offer given to them, to 223 owners in all 3 categories viz.,

1) buyers who have registered ownership and are in possession of their
apartments.

2) buyers who are not registered but in possession of the apartment

3) people who had booked apartments which have not been completed and
whom registration has not been done.

Informatively we have also put the above agreements in the Google
group (taranginire...@googlegroups.com) for them to refer to
in case it is necessary.

At the time of writing this mail, we acknowledge receipt of the
mailing list which you have sent to us and we will compare this with
the list which we already have and update our records accordingly.

We note that you have taken up the matter with an Advocate for
consultation which is good.

On the matter of communication with Association and Owners our stand
is that we are willing to work with the Association and also copy
information to the owners either directly or through Google group. It
is only natural that your members will also communicate with you in
all matters pertaining to the proposition which we have given to you
and if you want help from us please do not hesitate to contact us.

For your information, some of your members are writing to us and the
entire correspondence has been put in google group for public
knowledge.

In the course of this discussion and the mails received and sent we
would like to inform you that we will be completely open and will put
all the information in the google group so that no member can accuse
us or the Association for having obtained information which has not
been shared with others. Transparency of the highest order will be
maintained at all times.



To the queries you have raised in page no.2, our reply is as follows:

a) The total area of land is 8.14 acres approximately. You are
right our proposal which was circulated to all of you is for further
development of Tarangini Project on the entire 8.14 acres as reduced
by FSI that has already been consumed in respect of completed
buildings.

b) Please be informed that redevelopment of Tarangini project may
not be viable if multi story buildings are not constructed.

c) We have to keep in mind that the title of the property is
encumbered and there is a huge outstanding with ICICI and SBI.

d) Needless to mention a “consideration” has to be stated for the
transfer of land from the land owners to the allottes in any
registered document which does not foul with the provision of the
Stamp Act, Registration Act and IT act. If the documents prepared runs
in contradiction, perhaps the registration may become invalid or may
not take place at all. Hence there is a need for a “consideration” to
be stated in the Sale Deed to be prepared in the favour of allottees.
We represent the Land owner and are willing to discuss with a select
group on this issue which can be passed on to the wider body for their
views.

e) Lancor assures that the registration of Sale Deed and Power of
Attorney can be done in such a way without much inconvenience to the
Owners and allottees. We do not want to loose the goodwill of the
allottees in any arrangement.

f) With regard to termination clause in the agreement, we welcome
suggestions from the allottes/Association. We are willing to work
with any reasonable terms with the allottess. You will appreciate that
the tasks provided in the agreement sent to you cover 3 acts on the
part of Lancor which are as follows:

a) To modernize the existing building as outlined in the agreement.

b) To register the undivided share of the land in favour of the
allottees.

c) In the case of some allottes to make payment to them if they
choose this recourse.

Once the agreement is signed, our action will be immediate in respect
of (b) and (c) categories mentioned above whereas modernizing of the
building will take a period of 6 to 12 months depending upon the site
condition. Therefore default on the part of Lancor can occur on
these responsibility alone.

We think the allottes need to appreciate few of our concerns which
can have negative impact on the entire process which are as
follows:

1) In the meeting many of the allottees informed us that we should
talk to Alacrity and come to some arrangements with them. We have
contacted Alacrity. It looks like for the purpose of coming to some
workable arrangements, the intervention of the allottees may be
required soon.

We at the moment represent the Land owner through an agreement which
we will be made known to you all at the appropriate time after the
project is launched which is always the practice of Lancor ( we have
always made available all the documents at the time of project is
launched )

Lancor’s commitment to this project is huge and some estimates of
costs and investments are given below:

a) To retire the document from ICICI so that property will be free
from mortgage encumberance. ICCI has verbally communicated to Lancor
to return the documents free from encumberance.

b) Will complete the registration of unregistered owners.

c) Payment commitment to those allottes who want to exit from the
project.

d) To commit management time, enterprise and intitiative for
successful implementation of the project.



We would like to inform you that the minimum commitment / spend on the
project is around Rs.25 Crores even before the plans are submitted to
the CMDA in the 1st stage.

It would have become apparent to you that in order to realize the
sanction plan for the full development of this project, an investment
of over Rs.50 Crores would be required which Lancor is capable of
raising in today’s context.

The said Rs.50 Crores does not include in investment that are required
to be made for the construction which would be extra.

We again reiterate that it is in the best interest of the owners to
form a small committee of 6 to 10 people drawn from all groups to
understand the dynamics of this project and then communicate to wider
body so that a good decision can be made rapidly.

As commercial company Lancor cannot keep its money idle since we have
obligation to our shareholders. It is therefore only appropriate that
Allottees consent that is required is given to Lancor well before 30th
September 2011 which is the last date that Lancor would be interested
in this project.



Thanking you,

For Lancor Holdings Ltd

R.V.Shekar

Managing Director

[Chandra Sekar JM]

Dear Mr. Chandrasekhar,

I am extremely pleased to get your mail about Tarangini project.All
the details asked for are furnished below. I am not aware of the
discussion and outcome of the meeting of 10-7-2011.Plese give me
details

NAME: K .SASIDHARAN/USHASASIDHARAN.
CONTACT ADDRESS:FLAT NO.5 SRI SAI ENCLAVE,
NAVODAYA NAGAR,
4th CROSS, J P NAGAR 7th PHASE,
KOTHANUR ROAD, BANGALORE-560076.
PHONE: RES:080-26852958.MOBILE:09035025577.
email I D:sasid...@rediffmail.com

Looking forward to your mail,
Thank you,
Regards,
K.SASIHARAN.

Treat yourself at a restaurant, spa, resort and much more with Rediff
Deal ho jaye!

[Chandra Sekar JM]

We thank u for comprehensive email response of 5th August. We shall
revert to

u, after consultng our advocates, if necessary.



Regarding "consideration" for transfer of land:



We have record of date-wise & amount-wise payment of land cost to
Alacrity in respect of

208 owners of Phase I & II. Out of 208, 108 owners had their UDS
registered by late

Sri S.H.K.Ranga Rao. Consideration shown in the registered sale deeds
are the same

amounts paid by the owners to Alacrity towards land cost. Amounts were
not paid to

Mr. Ranga Rao but to Alacrity. Whatever amounts of land cost paid to
Alacrity are deemed

as paid to Mr. Ranga Rao. In fact more than 95% of the members have
not seen or

heard Mr. Ranga Rao until 2004, when the problem of Non-registration
started worrying

the members.



In which case, why follow a different yard stick and try to fleece
the unregd members

by demanding further amounts. Relevant extracts of the Regd Sale deed
are quoted below for

ready reference:



" The Sale Deed executed at Chennai on this date. . . . . . . by Sri.
S.H.K.Ranga Rao . . .

and 18 others ( hereinafter called Vendors), in favour of
Mr,. . . . . . ( hereinafter called

Vendee) .

"Whereas Vendors were considering a sale/disposal/development thereof
for better yield/investment,

when vendee offered to purchase an undivided 0.18......% share of
right /title/interest therein, for a

total consideration of Rs.. . . . . . . . and whereas accepting the
offer, vendors agreed to sell vendee

for the said consideration, the said percentage in A-Property, as
described in B- Schedule hereto,

hereinafter called B-Property.

" Vendors hereby acknowledge receipt of cheques/drafts from Vendee in
escrow and accept/admit

having received respective consideration payable to each vendor from /
out of total consideration

of Rs. . . . . ... . ., for the sale of the property.

"Vendors do hereby sell/convey/transfer/assign absolutely, from
vendors right / title / interest in A-property,

the undivided share described in B-Schedule to the Vendee.............
without any hindrance/claim from Vendors."



Therefore, Lancor and theLand owners are requested to interpret the
extant roles and laws governing Registration

to ensure jusitice and fairness to all those who hav e paid full land
cost consideration.



Thanking You,



K.R.Rajagopal

President, TFOA.

[Chandra Sekar JM]

Dear Mr Rajagopal,

I thought first it would be appropriate for me to respond privately to
the points that you have raised with regard to payments to be made by
unregistered allottees in cases where their identified apartments have
been constructed. I have later changed my mind and put this email copy
in the Google Group.

Valuations of year 1991 cannot have any bearing to what exists today.
Perhaps you have not seen that in the Income Tax Act registration of
properties below the guideline value on the date of registration will
attract the valuation at guideline value for the purpose of
computation of Capital Gains Tax. This would then mean, the seller of
the property will have to pay capital gains tax on a notional selling
price without receiving it, which nobody is going to agree.

When you are consulting your advocate, please find out (as per the
documents signed between Alacrity and Mr Ranga Rao) where it is stated
that payments made by the allottees to Alacrity are deemed to be
payments made to Mr Ranga Rao. You may be surprised by the answer he
gives you.

Infact, in your own letter you stated that 95% of the allottees have
neither heard nor seen or known about the nature of documentation
between Alacrity and Mr Ranga Rao. It is the allottees’ fault for not
going through proper due diligence that is required before making such
huge payments to any builder. Ignorance or existence or otherwise of
documents / agreements cannot be a defense. Dependence merely on
reputation is not a sound and safe practice.

If you want to understand this position, it would be better for you to
come to our office and we will explain you the situation better in
person.

Thanking you,

Yours faithfully,


R V Shekar

[Chandra Sekar JM]

Dear All,
In our email dated 5th August 2011, we had mentioned that our CEO, Mrs
Mallika Ravi had met Mr Ashok Karnad, Managing Director, Alacrity
Housing Limited.
Mr Ashok Karnad’s observations during the meeting are summarized
hereunder:
1. That Mr Ashok Karnad and Alacrity Housing Limited (AHL) are very
concerned about the welfare of their customers and he will take all
steps to protect their interest.
2. Mr Ashok Karnad informed Mrs Mallika Ravi that he is in possession
of certain documents / letters, which he is unwilling to disclose at
this moment. This questions the rights of the land owners to enter
into an agreement with Lancor. Infact, he had stated that he will only
disclose it when Lancor has substantially invested into this project.
3. That AHL is ready to start the project and Lancor is an impediment.
4. AHL can retire the documents from ICICI Bank in a matter of few
weeks.
Mrs Mallika Ravi heard these observations and thought it appropriate
to keep you all posted.
Her view which she communicated to Mr Ashok Karnad is a need for early
joint meeting between Lancor, AHL, Allottees and Land Owners sans
rhetoric.
Mrs Mallika Ravi requests all the allottees to facilitate such a joint
meeting.
Regards,

A V Rajaraman

[Ramaiah Yarlagadda]

I agree with Mrs. Dhamayanthi comments.
We used to have regular meetings in 2004 - 2006 and nothing has happened yet.

Regards,
Ramaiah Yarlagadda
MD11
9840018156