MEMORANDUM OF UNDERSTANDING

CUM
AFFIDAVIT OF ASSERTION

THIS MEMORANDUM OF UNDERSTANDING CUM AFFIDAVIT OF ASSERTION is made and executed on this
the 29th day of July, 2022, at Secunderabad, by and between:

SMT. AMBURI CHANDRAKALA W/o. Lt. Amburi Swamy, aged about 65 years, R/o. H. No: 2-1-23/H/112, Near
St. Joseph Grammer School, Indira Hills, Shamshiguda, Medchel-Malkajgiri (Dist), Hyderabad, Telangana -
500072, Aadhar No: 436504502278, Mobile No: 9989868566

(Hereinafter referred to as the “First Party”) which expression shall, unless repugnant to the context, mean
and include their heirs, executors, administrators and assigns) of the One Part.

AND

M/s. S.N. CONSTRUCTIONS, a Registered Partnership Firm, having its registered office at H.No. 5-70/4C,
Suryanagar, Old Alwal, Secunderabad, Medchal — Malkajgiri District, Telangana State, Represented by its
Partners:

1) Sri. REMARSU ASHOK KUMAR, S/o. Late R. Narsing Rao, aged about 68 years, Occ: Business,
R/o. H.No. 5-70/4C, Surya Nagar, Old Alwal, Secunderabad, Medchal-Malkajgiri District,
Telangana State., Aadhaar No. 354890848828, Mobile No. 7993941999.

2) Sri. REMARSU MANEESH S/o. R. Ashok Kumar, aged about 28 years, Occ: Business, R/o. H.No.
5-70/4C, Surya Nagar, Old Alwal, Secunderabad, Medchal-Malkajgiri District, Telangana State.,
Aadhaar No: 802149844984.

(Hereinafter referred to as the “Second Party”) which expression shall, unless repugnant to the context,
mean and include their heirs, executors, administrators and assigns of the Other Part.

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It is agreed as follows:
The recitals/ background to this agreement are incorporated into and made a part of this agreement.

WHEREAS the Party of the First Party herein is the sole and absolute Owner and peaceful possessor of
House bearing Municipal No. 2-1-23/H/112, (PTI No. 1140207372), consisting of Ground Floor,
admeasuring 111 Sq. Yards or 92.88 Sq. Mtrs., situated at Shamshiguda, Under Kukatpally GMHC Circle-
24, Kukatpally (Mandal), Medchel-Malkajgiri (Dist), Hyderabad, Telangana – 500072. Having acquired the
same under a registered Release Deed, bearing document No: 10866/ 2021, Dated: 17-12-2021,
registered at Kukatpally SRO.

WHEREAS the Party of the Second Part herein is the sole and absolute Owner and peaceful possessor of
House bearing Municipal No l No. 2-1-23/H/111, (PTIN No. 1140213472), consisting of Ground Floor,
admeasuring 111 Sq. Yards or 92.88 Sq. Mtrs., situated at Shamshiguda, Under Kukatpally GMHC Circle-
24, Kukatpally (Mandal), Medchel-Malkajgiri (Dist), Hyderabad, Telangana – 500072. Having purchased the
same under registered Sale Deed, bearing document No:10867/ 2021, Dated: 17-12-2021, registered at
Kukatpally SRO.

WHEREAS both parties came to a denouement and the First Party executed a Sale Deed in favour of Sri. R.
Maneesh, S/o. R. Ashok Kumar, bearing document No. 10867/2021, Dated:17-12-2021, registered at
Kukatpally SRO, in respect of House bearing Municipal No. 2- 1-23/H/111 (PTI No.11400213472),
admeasuring 111 Sq. Yards or 92.8 Sq. Mtrs., Situated at Shamshiguda, Kukatpally Circle, Medchal-
Malkajgiri (Dist), Telangana – 500072. Wherefore, the Second Party paid an amount of Rs. 6,75,000/-
(RUPEES SIX LAKHS SEVENTY-FIVE THOUSAND ONLY) as Good Will to the First Party.

WHEREAS both the parties mutually agreed that as the Second Party is in the field of construction,
nonetheless took the responsibility to construct a house (G+4 upper floors) for the First Party in the premises
i.e. House bearing Municipal No. 2-1-23/H/112 (PTIN No.1140207372), admeasuring 111 Sq. Yards or
92.8 Sq. Mtrs., Situated at Shamshiguda, Kukatpally, Medchal-Malkajgiri (Dist), Telangana - 500072.

And whereas the Second Party are in the field of construction of flats and residential complexes since several
years and has sufficient as such the First Party with a view to having their own houses/flats and recompense
package from the scheduled property offered by the Second Party id est to construct a residential building
in and over the scheduled property, i.e., portion of house bearing House bearing Municipal No. 2-1-
23/H/112, (PTI No. 1140207372), consisting of Ground Floor, admeasuring 111 Sq. Yards or 92.88 Sq.
Mtrs., situated at Shamshiguda, Under Kukatpally GMHC Circle-24, Kukatpally (Mandal), Medchel-Malkajgiri
(Dist), Hyderabad, Telangana – 500072. As the Second Party is in the field of construction and has sufficient
infrastructure, resources and expertise in the field of constructing residential buildings, wherefore agreed to
construct a residential building over the scheduled property. After due deliberations, discussions and
understanding among the parties, In the annex to this decision this MoU is made on the terms and conditions
agreed upon by and between the parties hereto as under;

IN CONSIDERATION OF THEIR RESPECTIVE OBLIGATIONS, COVENANTS, RIGHTS, WARRANTIES AND

REPRESENTATIONS HEREIN CONTAINED, IT IS AGREED BY AND BETWEEN THE PARTIES HERETO AS
FOLLOWS:

1) The First and Second Parties have mutually agreed to develop the above-said scheduled property
and the Second Party agreed to construct an Independent residential building on the scheduled
property on his own expenses, responsibilities within a period of 12 months from the date of
signing this agreement and the construction of the independent residential building is to be made
in accordance with the understanding. It is mutually agreed by parties hereto from the date of
expiry of 12 months stated above in the event of natural calamities, exigencies, shortage of
construction materials etc.

2) That the Second Party already prepared a comprehensive plan as per prevailing rules and
regulations of the GHMC and the other authorities, for the construction of the residential complex
and submitted the same before GHMC other authorities to obtain permissions in the name of
the First Party and the Second Party shall follow up and make payments if any to the concerned
required authorities like., GHMC, Electricity Department, Water Board (HMWS & SB) and the First
Party shall not responsible for any delay in the said process. The First Party shall not deny
signing their signatures on any of the required appropriate applications if required at the request
of the Second Party. Which Copy of Plan submitted to GHMC shall be enclosed.

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3) That the First Party hereby grants a license to the Second Party and authorizes and empowers to
develop the scheduled property and the Second Party shall have the right to demolish or remove
existing residential structure over it at their own cost.

4) That the First Party shall hand over all the authenticated/title documents available with her
including all original documents to the Second Party on the date of registration of this MoU as
mentioned above and after completion of the project the Second Party shall handover residential
building to the First Party including this MoU, the Second Party shall further undertake that they
will sign all such other papers, plans, forms, affidavits, declarations, undertakings, petitions, etc.,
which may be necessary for obtaining permissions and clearances for the constructions of the
residential complex and the Second Party shall obtain all such permissions and clearances in the
name of First Party at their cost.

5) That the First and Second Parties hereby declare state, assure and covenants with the Second
Party has got absolute right and title over the schedule property and schedule property is free
from all encumbrances, charges, mortgages court attachments and liens etc. The First Party
further assures the Second Party that there are no legal impediments for entering into this deed
with the Second Party.

6) That it is hereby agreed that any claims arising out of an accident to the workers or any other
mishaps that occurred related to the construction work at the site during the course of
construction activities, the same shall be settled by the Second Party alone and the First Party is
not in any way responsible for the same and to pay any money for settling such claims.

7) That the First Party hereby grant the license to the Second Party and authorize and empower to
develop the scheduled property into a residential building and to undertake all necessary and
incidental works in respect thereof i.e. to survey the LAND engage architects, contracts, workers,
agents and my other persons required for the purpose of the construction activities.

8) That the First Party shall handover all the authenticated all original documents to the Second
Party and after completion of the project the Second Party shall handover back to the First Party,
the Second Party further undertakes that they will sign all such other papers, plans, forms,
affidavits, declarations, undertakings, petitions etc., which may be necessary for obtaining
permissions and clearances for the constructions of the residential complex and the Second
Party shall obtain all such permissions and clearances in the name of First Party at her cost.

9) That the Second Party shall pay all the taxes, cess and demands etc, in respect of the scheduled
property up to date of the agreement after completion of the complex and handing over the
building to the First Party towards their share they shall pay the taxes to the extent of the share.

10) It is further agreed that the parties to this MoU shall be bound by all the terms and conditions
herein obtained. If any one of the parties of this agreement commits a breach of any such terms
and conditions herein then such other party or parties is entitled to the cost that may be entitled
to enforce this deed specifically or enforce such terms breach of this contract and also to claim
damages and compensation in respect of the loss sustained from the party committing a breach.

11) That the demolition charges, electricity, water connections etc., shall be borne by the Second
Party alone.

12) The Parties hereto undertake that in the event of any dispute which may arise between them
during the subsistence of this agreement or thereafter, in connection with this agreement or any
matter related hereto, the parties shall first endeavour to settle such dispute amicably, failing
which either Party to the dispute may refer the dispute to a sole arbitrator mutually appointed by
the Parties, in case of a disagreement on the appointment of a sole arbitrator, the dispute shall
be referred to a panel of three arbitrators, one of whom shall be appointed by the First Party, one
by the Second Party and the third arbitrator shall be mutually appointed by the two arbitrators
appointed by both Parties.

a) The arbitration proceeding shall be governed by the (Indian) Arbitration and Conciliation
Act, 1996, amended from time to time.

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 b) The venue of the arbitration shall be Hyderabad.
c) The proceedings of arbitration shall be in English language. The Arbitrator’s award shall
be substantiated in writing. The costs of arbitration procedure shall be borne equally by
the Parties.
d) This Agreement shall be governed by and construed in accordance with the laws of India.
e) Subject to the provisions of this clause, the courts having the jurisdiction under the
provisions of the Arbitration and Conciliation Act, 1996, to determine all matters which
the courts are entitled to determine under the Act, including, without limitation,
provisions of interim reliefs under the provisions of Section 9 of the Arbitration and
Conciliation Act, 1996 shall exclusively be in the courts of Hyderabad.

13) This Memorandum of Understanding shall remain in force unless terminated by any party by sixty
days’ written notice to the other Party. In case of termination of this Memorandum, the Parties will
ensure that implementation of ongoing projects and programmes shall not be affected by the
termination and shall be brought to completion.

This Memorandum of Understanding has been signed in Hyderabad, Telangana in 2 original copies in
English, both of them being equally authentic.

IN WITNESSES WHEREOF the parties hereto set their hands and subscribed theirsignatures unto this
indenture unto this day month and year first above mentioned:

For Party of the First Part; For Parties of the Second Part;

Signature: Signature:
Name: Smt. Amburi Chandrakala Name: Mr. Remarsu Ashok Kumar
Date: 29.07.2023 Date: 29.07.2023

Signature:
Name: Mr. Remarsu Maneesh
Date: 29.07.2023

WITNESSES:

1)

2)

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 AFFIDAVIT OF ASSERTION
We, Mr. Remarsu Ashok Kumar, S/o. Late R. Narsing Rao, aged about 68 years, Occ: Business, R/o. H.No.
5-70/4C, Surya Nagar, Old Alwal, Secunderabad, Medchal-Malkajgiri District, Telangana State., Aadhaar
No. 354890848828, Mobile No. 7993941999. And Mr. Remarsu Maneesh S/o. R. Ashok Kumar, aged
about 28 years, Occ: Business, R/o. H.No. 5-70/4C, Surya Nagar, Old Alwal, Secunderabad, Medchal-
Malkajgiri District, Telangana State., Aadhaar No: 802149844984; do hereby solemnly affirm and state
on oath as follows: Hereinafter called the deponents on solemn affirmation.

We, the deponent named above, do hereby solemnly affirm and confidently state as follows:

I. That we are partners in the M/s. S.N. CONSTRUCTIONS, a Registered Partnership Firm, having its
registered office at H.No. 5-70/4C, Suryanagar, Old Alwal, Secunderabad, Medchal — Malkajgiri
District, Telangana – 500010.

II. That we earlier entered unto MoU dated 17/04/2022, with Smt. Amburi Chandrakala for
development of Plot admeasuring 111 Sq. Yards or 92.88 Sq. Mtrs, Municipal No. 2-1-23/H/112,
(PTI No. 1140207372) shall be constructed and developed by M/s. S.N. Constructions, represented
by us, with G+4 Building with essential amenities like Borewell, Lift and Parking area (The typical
floor plane is prescribed in the Annexure – II).

III. That MoU, dated 17/04/2022 was lapsed due to the delay in execution of the residential building
construction and after amicable settlement with Smt. Amburi Chandrakala, we mutually agreed to
cancel the old MoU and thus lurch unto this new MoU cum AoA. Wherefore, assure to complete the
construction of the residential building with construction complaisance as prescribed in the
Annexure – III, in the stipulated period of time as agreed in the MoU.

IV. That par to the understanding we are determined to bear house rentals of Smt. Amburi Chandrakala
and Family Members and declared to induct 25,000/- (Rupees Twenty-Five Thousand Only) every
month to Smt. Amburi Chandrakala’s savings account till we handover the full-fledged constructed
residential building.

V. That the said assertions are free from the will and that there is no defect in the title of the deponents.

VI. That we without any remonstration proclaim that Smt. Amburi Chandrakala is the chief recipient of
the endeavors thus attained by the intercessor after signing this Affidavit of Assertion.

Deponent - 1

Mr. Remarsu Ashok Kumar

Deponent - 2

Mr. Remarsu Maneesh

Corroboration

We, the above-named deponents, do hereby authenticate on this day, the 29nd of July 2023 at Hyderabad,
Telangana. That the contents of the above affidavit are true to the best of our knowledge and belief and
nothing material fact has been concealed therefrom.

Mr. Remarsu Ashok Kumar Mr. Remarsu Maneesh

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 Annexure - I

Schedule of the Property:

ALL THAT piece and parcel landed property bearing Municipal No. 2-1-23/H/112, admeasuring 111 Sq.
Yards or 92.88 Sq. Mtrs., Situated at Shamshiguda (Village), Kukatpally (Mandal), Medchal-Malkajgiri (Dist),
Hyderabad, Telangana - 500072.; butted and bounded as follows:-

NORTH : H. No: 2-1-23/H/113

SOUTH : H. No. 2-1-23/H/111
EAST : 25’ Wide Road
WEST : Independent House

Name of the Owner :: Smt. Amburi Chandrakala

Name of the Developer :: M/s. S.N. CONSTRUCTIONS
Area :: 111 Square Yards or 92.88 Square Meters
Property Tax Identification No :: 1140207372
Village :: Shamshiguda
Mandal :: Kukatpally
Revenue Division :: Malkajgiri
GHMC House No :: 2-1-23/H/112
Survey No :: 57
Property Tax :: Cleared
Geographic Location :: 17°30'14.2"N 78°23'57.1"E

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 Annexure – II

Typical Floor Plan with 12 Columns

H.NO.:2-1-23/H/112

1 BHK AREA: 360 SFT + 30% COMM

TOTAL: 465 SFT

PROPOSED RESIDENTIAL FLATS SITUATED AT SHAMSHIGUDA,

KUKATPALLY (MDL), MEDCHEL-MALKAJGIRI (DIST),
TELANFGANA - 500072.

M/s. S N CONSTRUCTION

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 Annexure – III

Construction Complaisance

Structure : RCC framed structure

Steel : TMT Steel bars, 20 mm, 60 mm (Tata or Jindal)
Cement : Ultra Tech Cement for complete building
Sand : Karimnagar river sand for complete building
Brick : Light weight Red Brick for complete building
Flooring : Vertified Tiles 2x2 double charge
Doors : Main Doors – Indian Teak with chowkats
Bedroom Doors: Indian chowkats with flush doors
Windows : Windows UPVC with safety grills
Electrical : Concealed copper wiring of suitable finecab make with adequate light
necessary and power point with Anchor pant TA
Switches, A.C. Points provisions in Bedrooms and Hall
Kitchen : Green Marble or Black Marble platform with synch side wall tiles
Painting : Asian paint outside, Ace inside 2 coats Birla Putti
Staircase : Marble and SS railing balcony, SS railing with Un-breakable glass
Elevation : 1 side elevation with structure
Water Tank : Cement water tank top and under ground
Plumbing : Asirwad CPVC pipes with modern caps
Drainage : Sudhakar and Red pipe
Toilets : 2 western pattern toilets, 1 Indian commode pattern, with ceramic tiles
flooring and 6 feet height glazed tiles, dadoing with glazed fittings, exhaust
and glizes points in all toilets, exhausting fans for all toilets
Walls : 4 ½ Inch thick walls with cement inside, other walls 9 inch thick with cement
Parking : Parking Tiles for Ground Floor
Building Top : Cement Flooring
Ceiling : Fall ceiling Hall + 1 master Bedroom + Balcony + Car Parking
Lift : Standby generator in lift, parking, common area, stair case necessary in
paints in each flat
Gate : Modern Gate
Water Line : 2 Connections
Electric Meters : With Panel Board

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