Payment Schedule

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As already indicated in the paragraph hereinabove, the land cost commensurate  with the size of the flat opted, shall be payable  at  one time  and thereafter, no payment shall be called for till the development work of the site is completed in tandem  with   local  bodies   i.e. Laying   of design   &   approval by DUAC, development of project by laying of roads, power lines, sewerage lines, water lines etc. with approval & consultation of the other local bodies like the MCD, DDA, DERC etc.   This is likely to take a period of three years and therefore, after deposition of the full land cost, no further charges shall be levied/called from the members during this period.

Since the project is likely to be completed within the projected period of five (05) to six (06) years  as per the plan chalked out, the cost of construction of the flats will be calculated at the prevailing rates i.e. after completion of development related work (two years) and intimated to the members. The cost shall then be recovered in a phased manner from the members in form of monthly/quarterly/bi-yearly basis installments, which will vary from member to member based upon the type of flat he/she has chosen for construction earlier. A projected floor area plan for each type of flats  to be built issued separately to invite suggestion from all members before the finalization of final floor plan.


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