Where is the Sports Infra in 'Sports City'

Sports City Scam www.infralive.com 30 Infra LIVE July 15, 2022 considered as the date of taking over of physical possession and no plea contrary to this shall be entertained. n The lessee shall plan development of SPORTS CITY by adhering to the land use percentages as mentioned in the brochure. n Composite Floor Area Ration (FAR) of 1.5 on the total gross area of the allotted land will be permissible which is fungible/ transferable in different land use components as prescribed. n The obligations of the developer with respect to the development of sports, institutional & other facilities are prescribed inAnnexure 2 of this document. n Subject to provision of Master Plan and regulation of NOIDA: l The lease shall be entitled to sub-lease the sports, other facilities and institutional activity with prior approval of NOIDA/ Lessor. l Commercial and residential area can be sub-leased without any approvals on tripartite agreement basis. l The transfer of whole plot and sub-lease of built up space be governed by the transfer policy prevailing at the time of such transfer or sub-lease of built up space. l Without obtaining the completion certificate the lessee shall have the right to sub-divide the allotted plot into suitable smaller plot as per the planning norms of the NOIDA only for the area available for residential & commercial use and to transfer the same to the interested parties, if any, with the prior approval of the NOIDAon payment of transfer charges at the rate prevailing on the date of transfer. However, the area of each of such sub-divided plot should not be less than 8,000 Sq. mtrs. l The allotment of land by NOIDA shall be on lease basis however in future it can be converted in free hold as per the terms and conditions specified by NOIDA. l Multiple renting shall be admissible to the lessee and for the sub-lessee as per prevailing policy. l The lessee shall make necessary arrangements of finances for development of SPORTSCITY to the satisfaction of NOIDA. l The lessee shall make necessary arrangements for designing, engineering, and construction of the Project in accordance with the provisions of theMaster Plan and regulations NOIDA. l The lease shall adhere to Government policies and relevant codes of BIS/IS relating to disaster management and energy conservation in land use planning and construction works. l The lessee shall obtain applicable permits/ sanctions/ approvals etc. from relevant Government agencies or local bodies or other authorities as applicable. NOIDA shall assist and facilitate the lessee to procure the sanction/ approval/ licence etc. expeditiously. l Various incentives/ concessions including waiver of stamp duty etc. shall be admissible to the lessee as per the State Govt. policy from time to time. l After the written approval of the lessor/ NOIDAAuthority the lessee can implement/ develop the project through its multiple subsidiary companies in which the allottee/ lessee company shall have minimum 90% equity share holding (such subsidiaries are exempted from stamp duty for transaction between parent company and subsidiary company under the provisions of Indian StampAct, as per State Government notification). l The lessee/ allottee who develop the project through its subsidiary company shall be entitled for sub leasing the portion of allotted/ leased land/ built-up area in favour of the subsidiary companies and the first transfer by such subsidiary company, of the said allotted/ leased land/ built-up area which is being developed or proposed to be developed by the subsidiary shall be without any transfer charges. However, for subsequent transfer/ sub-lease, transfer charges as per prevailing policy (at the time of transfer) of the lessor/ NOIDAAuthority shall be payable. l For the first transfer of land/ built-up area through sub-lease no additional charges or transfer charges shall be payable by lessee to NOIDAor anyAuthority. l The subsidiary company(ies) in whose favour sub-lease deed is permitted shall be entitled to mortgagee the portion of land which is being developed by them, as per rules of theAuthority. l Areas are tentative and can be increased or decreased at the time of handing over of possession. If any unresumed land falls within the area of offer, efforts will be made to resume it or to shift elsewhere. l The allottee/ lessee shall abide by the suggestions of State Government if any in the master plan of NOIDA. l Sub lease of land/ built-up area shall be allowed on the basis of approved layout and building plans by NOIDA.