DRAFT Minutes of meeting of Redevelopment Committee held on 15 March, 2026 at 5 PM.

Attendance:

RdC members: Mahesh Vyas (Chairman), Sunil Singh, Sunil Tyagi, Ajit Rai and Ashish Raikar.
Invitees: Pammu, Ashok Trivedi, Babuli Bhavsar, Shefali Sadhu, Atul Thorat, Sita Menon, Nikhil Bakre, Kashif Quamruddin, Nishi Verma and Amit Mishra joined as guests.

1.     Minutes of the meeting held on 22 January, 2026 was read and then approved. (Appendix A).

2.     Leave of Absence was given to Sanjay Kher; he had informed of a prior engagement because of which he was unable to attend the RdC meeting.

3.     Discussion on progress on the Development Agreement. Sunil Singh may please share his experience in his meeting with the lawyer along with Pammu and Dhargalkar. Pammu may kindly join the meeting and update RdC members on the DA and the expected timelines for the future.
Sunil Singh and Pammu briefed the meeting regarding the progress on the DA. The draft DA finalised by our lawyer in consultation with the PMC and the MC and RdC was forwarded by the Society to the developer who has informed us that he in turn has passed in on to their lawyers. We expect the developer to revert on the same during by the end of the current week.
One of the questions in the meeting was regarding the expected date by which the DA could be signed. While the current DA could reach a stage of signing in a few weeks (possibly 4-5 weeks), the final signing also depends upon the inclusion of the floor plan.
It was emphasised that the DA should include detailed specifications on the quality of the building, the apartments and the rest of the new construction. It was decided that Sunil Tyagi will study this and try and suggest appropriate inclusions in the DA.

4.     Discuss the RdC’s view on the 10 per cent Hardship Compensation being offered by the developer.
The overwhelming and strong view of the members was that we should take the 10 per cent Hardship Compensation. This will be in line with the Tender Document, it will build confidence in members that the project is progressing well and it will also build confidence in the builder that we are interested in working with him. This may also stop the negativity. There was a discussion whether we should take the money but not distribute it but it was finally decided that we should take the money and distribute it.

5.     Progress on conversion of land and other matters related to the redevelopment project.
Pammu updated the meeting regarding two topics related to the project.

a.     Land conversion. Pammu informed that the additional information sought by the Collector’s office has been provided. This should accelerate the process towards land conversion.

b.     UCO Bank. We are informed that the bank is looking out for alternate place. There has been some effort by us too towards finding an alternate location to shift the UCO Bank in the neighbourhood. Even Agami has been informed to look out for a suitable place. The bank’s officials have been receptive to the idea.

6.     Discuss the RdC’s potential role in development of the floor plan.
It was decided that the RdC and all the members present in today’s meeting will actively be involved in the development of the floor plan. It was further decided that each member present in today’s meeting will reach out to a couple of other members to involve them in the development of the floor plan. The importance of the floor plan was emphasised.

7.     Should the floor plan be a part of the DA?
Everybody believed that the floor plan must be a part of the DA but, it was also recognised that the floor plan could take a lot more time than the rest of the DA. It was therefore agreed that the broad contours of the floor plan must be a part of the DA. However, it was not clear what is “broad contours”. We need to continue discussion on this subject in subsequent meetings. It was therefore also decided that this group must meet often to discuss this and other matters related to the redevelopment project.

8.     Communication.
Nikhil Bakre made a strong case for more communication / more frequent communication on the redevelopment project. This view was echoed by several other members. It was resolved that the management communicated more and more often.

9.     Soil Testing.
The meeting was unanimously critical of the decision to withhold the permission for Soil Testing work following the potential danger in doing so. Everybody believed that the violation pointed out was too pedantic. All members were of the view the Soil Testing work should proceed and accelerate the project.

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