Dahisar housing society cancels redevelopment project
Extending relief to more than 100 home owners, an arbitrator appointed by the Bombay High Court (HC) has allowed a Dahisar housing society to cancel an eight-year-old redevelopment agreement as the developer doesn’t have the money, either to pay rent for the members’ alternate accommodation or to complete the project.
The case pertained to a development agreement signed in February 2010 between Ssakash Developers and Builders and a 113-member Dahisar housing society, Shri Upendra CHS Ltd. Late last year, the society cancelled the development agreement, following which both the developer and the society invoked the arbitration clause. In December 2017, the HC appointed advocate Vishal Kanade as the sole arbitrator. The excuse mentioned in the last HC order is about the developer claiming money from certain society members for the additional area bought by them in the redeveloped building.
The arbitrator directed the developer to hand over the property to the old members, allowing them to appoint a new developer to complete the project. The HC will hear the case later this month.