17-Jan-2014

Subject: - Update

Dear Member,

Sai Krishna Niwas Welfare Society Management Wishes a very Happy New Year to you and your family. We have one more reason to celebrate this New Year, as the Ministry of Urban Development has finally approved the Land Pooling Policy on 5th of September, 2013 (copy enclosed).

This is the most important notification which allowed the private builders/societies to buy the land in designated areas for construction of flats. Land Pooling Policy comprised two categories of land holding mentioned in Table-1 & Table-2.

Table-1

Table-2

Earlier there was provision of 200% FAR on gross land with population density 250-300 per Hectare and the land was purchased for the society accordingly. However, the new notification allows the FAR on net land with population density 800-1000 person per Hectare considering a population factor 4.5 members per family.

Due to the new policy of the Government, Hence forth we need more land to comply with the new regulations and to meet the density requirement as well as built up area requirement. Keeping in line with the amendment of the norms we would be required to purchase 17% more land to accommodate the present members.

As the final approval with respect to FAR and mode of operation have been accorded by the Govt. We have associated with one of reputed architect for designing Floor area plan and elevation plan with the view of inviting suggestions from members for incorporation in the final lay out plan.

In order to comply with density and built area we need 0.18 acres more land for the members. Members are required to pay Rs. 1,55,000/- (Rupees One Lakh and Fifty Five Thouosands only) by end of Feb, 2013. As per news, DDA will issue the land surrender notice in February, 2013. Our objective is to prepare ourselves before February, 2013. Our primary focus is to accommodate all members. Members are required to pay the above demand money immediately as the land rates are still lower.