The Punjab legislators association -- Punjabi Cooperative House Building Society (PCHBS) -- had signed an agreement with the Tatas and Hash Builders Private Limited to jointly develop the 1,700-apartment project comprising 24-storey towers spread over several acres of land.
Now, Punjab legislators have unilaterally withdrawn the General Power of Attorney which was issued to the Tatas to construct the project that would have 1,700-plus high-end flats.
The Tata Housing Development Company (THDC) had acquired land for the project from the PCHBS and from Defence Services Housing Society after signing an agreement with them.
Officials of the PCHBS said Punjab legislators have terminated their agreement because they were not paid the third instalment due to them by the Tatas and Hash group.
"Hash builders were supposed to pay us the third instalment after getting the approval of the site from the municipal council," PCHBS chairman and Punjab assembly speaker Nirmal Singh Kahlon said Thursday.
"They got it in December, last year, but did not make the payment. We also sent a notice to Tatas in this regard but did not get any reply from them," he added.
"Therefore, we have decided to end the agreement and withdraw the General Power of Attorney issued to the Tatas," he added.
This fresh controversy has nothing to do with the environmental and other concerns, raised by activists, posed by the high-rise buildings of the project.
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