20-Dec-2021 |
Proceedings Dated: 20.12.2021
Sh. S. K. Kaushik (GM), Sh. Pradeep Garg
(GM) and Sh. Dilshad Khan (AGM) were present on the behalf of the promoter.
Ar. Neeraj Gautam, Associate Architectural
Executive briefed the facts about the case.
Architectural associate brought to the
notice of the authority that Emaar India Land Limited (earlier known as Emaar
MGF Land Limited) had entered into various agreements with its group companies
namely Fluff Propbuild Pvt. Ltd. on 30.04.2013, Rudrakasha Relators Pvt. Ltd.
on 30.04.2013, Tanmay Developers Pvt. Ltd. on 15.07.2006, Grog Propbuild Pvt.
Ltd. on 29.05.2013, Gamut Propbuild Pvt. Ltd. on 20.01.2007, Gallery Propbuild
Pvt. Ltd. on 20.0120.2007, Sarvodaya Buildcon Pvt. Ltd. on 10.06.2013, Sewak
Developers Pvt. Ltd. on 14.05.2013, Hope Promoters Pvt. Ltd. on 29.05.2006,
Crock Buildwell Pvt. Ltd. on 25.05.2006 and Monga Properties Pvt. Ltd. on
14.05.2013
Further, the landowners, Emaar India
Limited and M/s Habitat Township Pvt. Ltd. later entered into another Joint
Development Agreement on 15.12.2020 authorizing M/s Habitat Township Pvt. Ltd.
to develop the affordable group housing project on the land admeasuring 9.3625
acres situated in revenue estate of village Kherki Majra, Sector 102, Gurugram,
Haryana.
As per the above said
agreement, the Developer has to pay Emaar India Limited (which is neither a
license holder not a land owner) 17% of the net sales revenue of the project,
equivalent to minimum guarantee of Rs. 68,81,43,750/-.
As per the license No. 41
of 2021 issued by DTCP in favour of M/s Rudraksha Realtors Pvt. Ltd. and 10
others in collaboration with M/s Habitat Township Pvt. Ltd., the developer M/s
Habitat Township Pvt. Ltd. is responsible for the entire development of the
project ‘Habitat 102’. It is observed by the authority that the license is
granted by the DTCP in favour of landowners in collaboration with developer on
the basis of joint development agreement signed between the landowners and the
developer. This is a peculiar case where development agreements were signed
between the landowners and M/s EMAAR India Ltd. Accordingly EMAAR becomes
collaborator/developer if license was applied by the landowners in
collaboration with EMAAR India Ltd. Rather
than applying license by the landowners through developers M/s EMAAR India Ltd.
a new joint development agreement was signed among landowners, M/s EMAAR India
Ltd. the original collaborator/developers of the landowners and a new entity by
the name M/s Habitat Township Pvt. Ltd. wherein the rights acquired by EMAAR
India Ltd. were further transferred to M/s Habitat Township Pvt. Ltd. The DTCP
has issued license in the land of landowners in collaboration with M/s Habitat
Township Pvt. Ltd. without any mention of M/s EMAAR India Ltd. despite the fact
that license has been issued on the basis of joint collaboration agreement
where EMAAR India Ltd. is also a conforming
party along with landowners. As per the joint collaboration agreement entire
consideration of the agreement is payable/paid to M/s EMAAR India Ltd.
The promoter shall submit
amended license from DTCP acknowledging M/s EMAAR India Ltd. as the co-
developer in the license no. 42 of 2021 along with M/s Habitat Township Pvt.
Ltd. within two months from the date of grant of registration.
The authority decided to grant the registration
subject to the submission of bank guarantee of Rs. 50 lakhs on account of
approved service plans and estimates, approved fire scheme and amended license
within a week. This bank guarantee shall be forfeited in case the approved fire
scheme, approved service plans and estimates and amended license are not
submitted in the authority within three months from the date of grant of
registration. |
APPROVED AND READY FOR CERTIFICATE ISSUING PROCESS |
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