February 14, 2026

Dear Members,

Sub: Redevelopment updates

1. Drafting of Development Agreement:

We are pleased to inform you that the Advocate, Krishna Tanna that you appointed in the Special General Body Meeting of 25 January, 2026, delivered a 104 Legal-size pages draft Development Agreement (DA) on 6 February, 2025. She had promised to work on the DA on an urgent basis because of our situation. She has lived up to this promise. The draft DA is currently being perused by members of the Managing Committee and members of the Redevelopment Committee. Views of all these members will be consolidated and streamlined and then communicated to the Advocate. Views are also likely to be discussed in meetings with the Advocate to ensure clarity on both sides. The Advocate has assured to make time even over late evening Zoom calls if necessary to ensure speed.

The DA has been shared with the PMC and his views on the same are awaited. Once the Solicitor receives the consolidated views of the MC and the RdC and also the views of the PMC, a revised DA will be prepared appropriately incorporating the inputs provided. It isplanned that the revised DA will then be shared with the Developer.

After the Developer, the PMC and the Society’s MC and RdC come to a commonunderstanding of a draft DA, we expect it to be ready to be shared with all members of the Society for their views. By that time members of the MC and RdC will also be in a position to explain the draft DA to members wherever necessary.

Several members of the MC and RdC have read the draft DA and some are in an advanced stage of reading the draft DA. The PMC has also promised to accelerate his responses to the draft DA. We aim to deliver our views to the Solicitor early next week.

This is the progress on the DA in the last 15 working days since you approved the appointment of a new Advocate. We will keep you informed of further progress.

2. Conversion of Land from Class II to Class I:

There is clear tangible progress on conversion of Land from Class II to Class I. The Developer started work on this soon after being selected in our SGM of 30 November 2025. However, the process was delayed because of the Municipal elections that were

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