1) Our building a registered society under MCS act 1960, situated at Mumbai. Is comprising of 63 members and 4 wings went for the redevelopment in the year 2010. Society entered into agreement with the developer via Development Agreement (DA) in Aug 2010.
2) In Aug 2010, individual members executed Permanent Alternate accommodation Agreement (PAAA). Its tri party agreement between Society, Developer and member.
3) Both the agreements were dully registered and stamp duty paid.
4) Due to non compliance of the DA and PAAA terms and breaches, General Body in the meeting held on 27th September, 2014, decided to terminate the DA and PAAA and power of attorney .
5) A Notice has been served informing Developer the termination of DA, PAAA and PA
6) Our lawyer is of opinion that it is clear breach of terms and a termination notice as per DA clause will suffice the purpose of terminating the developer and no need for arbitration as provided in DA.
Your expert advice needed for the following-
1) Is the said contract is null and void with the issue of termination notice?
2) Do we need any order from court to officially cancel the contract?
3) Is our society become sellable with the clear title and we can enter in to new development agreement with the new builder ?
4) What are rights of the developer in this situation?
Please provide your expert advice.
Thanking you,
Desai
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