A society in Versova cancelled its development agreement with HDIL builder and announced it on the first day of 2020.

By Varun Singh

On the first day of 2020, Versova-Andheri Vinayak Cooperative Housing Society, decided to announce that they have terminated the development agreement it had got into with HDIL Developers.

The housing society located in Four Bungalows, Andheri issued a public notice on January 1, 2020. The notice issued by the advocates of the housing society states that, “We have terminated the consent given to Housing Development and Infrastructure Limited (HDIL) of our client and also terminated the redevelopment agreement.”

In 2010 HDIL and the Versova-Andheri Vinayak Cooperative Housing Society got in to a development agreement. It was meant for the redevelopment of the building with a plot size of 1332.50 sq mt.

All the ancillary documents entered between the society and HDIL also stands terminated. This terminated was vide a letter dated November 26, 2019 which was sent by the society and vid letter dated December 24, 2019 by the advocates.

The notice further states that if anyone has objections they may contact the lawyers within seven days of the notice.

HDIL builders which at one point of time was one of the biggest in the city of Mumbai landed into controversy. The connections of their directors with the PMC Bank Scam is being investigated by the authorities.

HDIL has several stuck projects and many complaining home buyers. The worth of stuck projects would be anywhere in thousands of crores.

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