A builder has filed a civil suit against real estate company Shapoorji Pallonji, claiming damages to the tune of Rs105crore for failing to redevelop property in central Mumbai within the stipulated time.
The suit has filed by Crescent Builders against the company run by Pallonji Shapoorji Mistry, the father of Tata Group chairman designate Cyrus Mistry, on the grounds that its reputation has suffered due to the delay, which has also affected its other projects adversely.
The Janata Nagar Housing Society appointed Crescent Builders to redevelop their property in Tardeo, states the petition, and a Memorandum of Understanding was signed between Crescent and contractor Shapoorji Pallonji.
The Shapoorji Pallonji Group completed the rehab buildings, which were handed over to the civic body in 2003. The BMC then issued a Commencement Certificate (CC) in January 2006.
Crescent Builders approached the BMC in 2007, seeking additional floor space index (FSI).
Crescent Builders approached the BMC in 2007, seeking additional floor space index (FSI).
In 2009, the corporation refused to grant the additional FSI, saying that the saleable building was not constructed within the stipulated period of two years from the granting of the CC. “The corporation held that the request for grant of additional FSI of 0.5 would be considered only after completion of 19 floors and issuance of a Part Occupation Certificate (OC),” the petition states.
In October and November 2009, Crescent Builders wrote letters to Shapoorji Pallonji, asking them to complete the exterior and interior work of 19 floors of the building, so that the Part OC could be obtained.
However, they did not receive any reply, following which, in 2011, Crescent Builders terminated its agreement with the Pallonji Group.
Source:www.dnaindia.com
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