Dear Esteemed Members of TSEWA,
You are aware that the General Body discussed the pros and cons of purchase of a permanent office for TSEWA vs continuing in a rented place at great length during AGM 2020. The AGM decided that it would be better to purchase a permanent Office space instead of spending a huge amount on rentals every year.
Unfortunately the donations were a trickle and a fresh appeal was made by Brig CS Vidyasagar, the then President on 23 Jan 2021 to all the Members to donate liberally for the purpose. The Core Committee also constituted a committee to identify suitable independent house or a flat closer to ESM settled areas so that the office is easily accessible. The committee reported that in view of the skyrocketing real-estate prices in Hyderabad/Secunderabad, it will not be possible to purchase land and construct or purchase an independent building without spending one crore or more. It was therefore decided to purchase a suitable flat within Rs.50:00 lakhs. After extensive search and pains taking visits to numerous old /new flats and associated problems with the residents associations, finally the Committee zeroed down to a new 1210 sft flat No.101, in Edifice Pride, just behind the College of Defence Management. The front elevation and layout plan are attached.
After hard bargaining at various levels with the builder, an all inclusive final price of Rs.52:00 lakhs was arrived at from the initial quoted price of Rs.58:00 lakhs plus taxes and Registration. The above proposal by the committee was discussed at length during the Executive/Core Committee Meeting today the 10 Jul 2021.The EC approved a total expenditure of Rs.55:00 lakhs including the furniture and furnishings.
The crux of the matter is that we have received donations of a total of Rs.10:50 lakhs only so far which is way below our requirement. The Registration charges are going up in Telangana by 200% from 01 Aug 2021 and also the real estate prices. The Managing Committee is therefore going ahead with signing an Agreement with the Builder as approved by the Executive Committee by paying Rs.10:00 lakhs advance with a mandate for completing the Registration formalities by 31 July 2021 before the Registration charges go up.
I therefore appeal to all the Members to donate generously for the cause and fulfill our dream to own a permanent address to facilitate TSEWA to serve you better and be within easy access to the Veterans and Veernaris. The Managing Committee has also decided to display a permanent board of major donors in a prominent place in the office. In view of the urgency, all Members are requested to SWIFT/NEFT their donations directly to TSEWA Account Details given below under intimation to TSEWA on e-mail ID: firstname.lastname@example.org. I would like to remind that all donations to TSEWA are 50% exempt from Income Tax under Section 80 G of IT Act 1961.
(a) Name of Beneficiary – TSEWA
(b) Name of Bank – SBI
(c) Branch – Bhaskar Rao Nagar, Secunderabad
(d) Account No. – 35088276014
(e) IFSC – SBIN0015568
A large number of TSEWA Members do not have e-Mail IDs and hence I am making a personal appeal to you to circulate this message in your own groups and amongst your friends and motivate them to contribute generously for the cause.
With warm regards,
Commodore IN (Retd)
LL: 040- 40216914