We note that the Company has not carried out any development or construction activities.

In
the event that the Company intends to carry out development/construction activities on the land
purchased by it, the Company would require the following approvals and permissions:

The Tamil Nadu Town and Country Planning Act, 1971

Section 34 A of the Act deals with the power of the Municipal Corporation of Chennai to
sanction a buildings plan (i) providing for the construction of more than one dwelling-house
on any one site; or (ii) providing for the construction of any building with variation in regard
to requirement of plot extent or plot coverage or open space. If the Company intends to
commence construction activities in the nature of activities provided above, a building plan
would be required to be submitted to the Municipal Corporation for its sanction.

Section 49 deals with an application to be filed for obtaining a planning permission. In

accordance with the said section, any person intending to carry out any development on any
land is required to make an application in writing to the planning authority to undertake such
development activities. Such planning permission is valid for a period of 3 years. In light of
the same, an application to obtain planning permission should be made to the planning
authority.

Tamil Nadu Regularisation of Unapproved Layouts and Plots Rules, 2017.

If development activities are intended to be carried out on unapproved plots of land i.e. sub
divided portions of land without the permission of the DTCP or the CMDA, as the case may
be, a mandatory application is required to be made for regularisation of the land. In this regard,
a lay out plan is required to be made and submitted to the CMDA or the DTCP, as the case
may be for sanction by the aforesaid authorities to ensure that the land on which the
construction activities are proposed to be carried out are not on unapproved plots of land.

Tamil Nadu District Municipalities Building Rules, 1972

In accordance with Rule 3 of the aforesaid Rules, every person, who intends to construct, a
building other than a hut, is required to submit an application to the executive authority
appointed under the Rules for the approval of the site and for permission to execute the
construction work.

Tamil Nadu Real Estate (Regulation and Development) Rules, 2017.

The aforesaid Rules will apply to all ongoing projects and future projects where the area of
land exceeds five hundred square meters or the number of apartments proposed to be developed
exceed eight inclusive of all phases. Registration of all real estate projects is made mandatory
with Tamil Nadu Real Estate Regulatory Authority (“TN-RERA”). No sale in a real estate
project can be made without registration of the project with the TN-RERA. In addition to the
registration of a project with the TN-RERA, it is inter alia mandatory for a promoter to upload
the details of the proposed project on the website of RERA, including details of registration,
types of apartments or plots booked, list of approvals taken etc. Both promoter and buyer of a
real estate project are liable to pay equal rate of interest in case of any default from either side.