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Letter Released for Survey No 18 at 29-05-2019

You and others have entered into Joint Development Agreements with Arrow. At the meetings held with you, you had agreed to the following proposal made by our Director Mr Vineet Malhotra in respect of the development of the land bearing Survey No. 18 at Village Odanghi admeasuring 19568 Sq Mtrs, Taluka Pen, District Raigad under the Pradhan Mantri Aawas Yojana (PMAY) or otherwise:

  • A society will be formed consisting of members who have entered into registered Joint Development Agreement with Arrow
  • Once the Society is formed, Arrow will proceed to convey lands to the Society of which Arrow/its nominees will also be members. The area of the land to be transferred/conveyed to the Society would be equivalent to the cumulative area which is approximately 5 acres.
  • After the lands are conveyed the members of the Society will take steps to appoint Architect/contractors of development of the lands which have been conveyed to the Society.
  • It was tentatively agreed at the meeting that if the Society is unable to appoint suitable and competent contractors, Arrow will take the lead and assist the Society in appointing competent contractors to develop the lands at the rate of Rs.1500 per sq. ft. built-up area.
  • Once the Society is formed, office bearers of the Society will be appointed by the members in accordance with the provisions of the Maharashtra Cooperative Societies Act 1960. Thereafter Society will proceed to allot lands to the members according to the area mentioned in the respective Joint Development Agreements entered into with Arrow. Share Certificates will also be issued to all the members including Arrow and/or its nominees

For More Details Check the below-given letter with the name of registered persons

Download Letter