SRIKAR_BSS we can't help you much. In addion to what's written in our ToS, I'd say that you can't expect more from a free service like FreeFlarum. While the limit is not monitored or otherwise enforced, I think that it is plausible, given that we provide free forum hosting with no charge. We can't really go higher than that, because then we'd need to allocate more resources, which would make our costs higher too and we'd start balancing between free and paid service - and we have no intentions to become a commercial entity.
While this might sound unpleasant for you (and I apologize if it does), self-hosting might really be the best option for you. However, you can use FreeFlarum for now and when you hit the limits, you are able to download your data from our website and move elsewhere