6th February 2009
reconciliation of escalation in the cost of acquisition by general factors of
realty sector and incidental cost in development.
of properties to form sites in the development to be called as PARAMANANDHASAGARA in HUYILALU,
in connection to the agreement between you and the Society.
We have great pleasure to let you know that we have
finally reached a stage where our principal objective of acquiring a quality
housing facility, for our members has become imminent and evident. About 90% of the legal formalities have all been completed; like all approvals
from the MUDA have been achieved and actual civil works are at different stages
of completion. You all should also be pleased to note that registration of
sites at PARAMANANDHASAGARA in favour of the members will
immediately succeed the registrations already ensuing in full-swing in favour
of the members in Anandasagara Layout.
The Developer had already promised certain kind of
quality product, but during the course of time, the Developer in the whole
scheme of their functioning and up-gradation of standards of their own working
modes, has committed themselves into much higher qualitative work at the
proposed residential layout. We are glad to inform you that this has resulted
in an output of qualitative difference in our layout, from the one developed in
other parts of the City and which now promises to be much better and far
superior to the facilities already promised and agreed to originally. We are
enumerating some of the qualitative features of our layout.
a) To ensure the quality in Civil Works
we have contracted the quality control and approvals to a renowned company
called “Tor Steel” (Civil Aid Techno Clinic Private Limited) who are the
leading quality control consultants in the area of civil works.
b) The water supplies and under-ground drainage
connections will be facilitated to each residential unit and therefore will
prevent ugly and harassing road cuttings, which we can see in all the existing
and even in new developments.
c) Similarly provisions for underground telephone and
electrical connections will be facilitated to each residential unit and
therefore will prevent ugly and harassing road cuttings, which is common in all
residential sites and layouts.
d) Please note that water supply and network of pipes in
the layout will be through HDPE pipes (High Density Polyethylene)
made from material grade PE-100 that are built in temperature
control technology.of highest quality,
instead of the regular PVC pipes.
e) Ground Level Sumps (GLS) of required numbers
along-with over-head tank (OHT) for sufficient
water storage and regular water supply in the layout
f) Footpath – on both
sides which will be laid with pavers
g) Sewerage Treatment Plant.[S T
h) There are facilities for rain water harvesting in the
layout, which will not only prevent wastage but also will conserve and will
optimally utilize water, which many layouts actually crave for. The other
purpose of adopting this rain water harvesting technology is with a
farsightedness to maintain water table
level in the layout.
i) Lighting in public areas.
j) Fully developed
parks and playgrounds, with separate walking and jogging tracks and exclusive
play area for the children.
k) Wide asphalted roads. Please note that the technology
used for laying down these wide roads, is of very high quality and is seldom
used in the internal roads of the city and is sparingly used in laying down
National Highways. The technology is called Wet Mix Macadam (WMM). Though this
technology is very expensive than the prevalent technology, but the Developer
is in a mode of delivering quality and durability, which we cannot say no to.
l) There is going to be
a International Standard’s Club House in the layout and you members will have
life-time membership in the Club House.
m) The developers will be planting plants on either side
of the road, at a distance of 60 ft. through out the layout.
The factors above have added
to the cost, but we should realize that buying a residential site is a lifetime
dream for most of us and when we invest we should know that we should and are
entitled to get the best; and therefore more often than not; we need to make
some compromises to get this best quality.
We have had several sessions
of meetings and meticulous working out of computations and have finally arrived
at a computation of Rs. 50/- per square
feet as the additional payment, to be collected from the members to meet
this bona-fide escalated cost accruing from the above factors.
We should also state that
while negotiating the above escalation the amount originally assessed, was much
higher and hard negotiations considering comfort levels of the members and also
keeping in mind that we should not face a situation, wherein the Developers
We are convinced that the cost
escalated though may not have been satisfying or pleasing the Developers
completely but surely am convinced that every money will be worth spent and we
will get a great residential layout for our members. Please be convinced of the
fact that the additional cost is well worked out and is emergently needed, for
the due and proper completion of the development.
In addition to the above we are also beseeching you to
pay the final installment of Rs. 57/- per sq ft forthwith the receipt of this
letter. The assessment of the escalation to be collected from the members was
crystallized at Rs. 50/- per sq ft; was also due to the fact that we promised
the Developers that we will ensure that the final installment of Rs. 57/- per sq ft, will be paid together, within 30 days of receipt of
this letter by the members. We hope that you all understand the urgency in
meeting this genuine demand, for the good of all.
We would therefore sincerely request you to pay a
total sum of Rs. 107/- (final installment of Rs. 57/- per sq ft plus Rs. 50/-
per sq ft as the additional cost) per square feet, within 30 days of receipt of
While explaining our request we also would like you to
understand that the residential layout that is being offered to us will be one
of the prime layouts in the City of
and the cost you are paying is totally justifiable and fair. We will just
enumerate a few qualities, which will evince to you that you will be having a residential
site in an area, which in near future will be considered as the prime layout of
Ø The layout is just
15 minutes away from Infosys and other IT companies.
Ø The layout is adjacent to the RBI, Saptagiri, Citizen,
State Government Employees and Ramakrishna Housing Building Co-operative
BASED ON THE ABOVE FACTORS WE HAVE RESOLVED TO COLLECT
AN ENHANCEMENT OF RS. 50/- PER SQUARE FEET, FROM THE MEMBERS, TO RECONCILE AND
DETERMINE THE ESCALATION IN THE COST OF OUR ACQUISITION AND DEVELOPMENT OF THE
WE ALSO STATE THAT THE ASSESSMENT IS VERY MODEST AND
WOULD JUSTIFY EVERY PIE SPENT AND ALSO WITH A PERSPECTIVE THAT FOR YOU IT WILL
NOT ONLY BE A SATISFYING EXERCISE OF HAVING SUFFICED THE NEED OF A QUALITY
RESIDENTIAL ABODE FOR OUR HARD-WORKING MEMBERS.
WE ALSO REQUEST YOU THAT YOU SHALL NOT DELAY THIS
PAYMENT OF ESCALATION OF RS. 50/- PER SQ FT WITH THE FINAL INSTALLMENT OF RS.
57/- PER SQ FT (TOTAL OF RS. 107/- PER SQ FT) AND JEOPARDIZE THE DEVELOPMENT
AND PACE OF WORK AND THEREFORE IN ALL REASONABLENESS MANDATE YOU TO PAY THE
SAID SUM WITHIN 30 DAYS OF RECEIPT OF THIS LETTER.
Karnataka Telecom Department
Co-Operative Society Ltd.,