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viii) In the aforesaid premises the Developer and the Tenant herein are executing this Agreement for consent and confirmation of the said Letter for Development dated 12-2-2001, jointly executed between the said Owner and the developer and allowing the Developer to use and utilise the TDR FSI on the said property as per the rules and Regulations of the Municipal Corporation of Greater Mumbai and also to record and confirm the consent of the Tenant and also of providing permanent alternative accommodation by recovering construction cost from the Tenant by the Developers."

Clauses 3, 4, 10, 12 and 13 of the Appellants agreements negate the submission and read as under :-

"3. The Tenant further confirm and consent to the Developer to construct new building by providing permanent Alternative Accommodation to him/her and the Developer is entitle to recover construction cost of Rs.600/- from the Tenants occupying the Residential premises and Rs.750/- from the Tenants occupying Shops, including herein of such permanent alternative accommodation in form of new flats/shops having equal carpet area of the said existing Premises which at present in occupation of the Tenant and the Developer is entitle to demolish the said building "AMBIKA BHUVAN" and compensate themselves by constructing new residential flats/shops etc., on the said property by utilising the FSI & TDR FSI being the maximum permissible FSI available as per law and as per the Development Rights Certificates to be obtained by the Developer under D.C. Regulations No.34 of the Development Control Regulations for Greater Bombay, 1991 read with regulations for the grant of transferable development rights to owner/developer and conditions for grant of such rights as contained in Appendix VII thereto the law time being in force being as per specification to be given by the architect entirely at the Developer's cost, charges, expenses and incidentals thereto to put up construction of the residential/commercial building in the said property more particularly described in the Schedule hereunder written.

4. The Tenant confirms and consents that the Tenant is ready and willing to accept the permanent alternate accommodation in lieu of the his/her said tenanted Premises & also ready & willing to pay construction cost of Rs.600/- being as residential occupiers, per sq. ft. carpet of the said permanent Alternative Accommodation admeasuring 320 sq. ft. carpet (being equal area of the said existing Premises to the Developer as contained hereinafter.

13. The Developers have agreed as per the said agreement as well as under

this presents a self-contained Flat in proposed new building being Flat square feet carpet area being having equal carpet area of the said Old Premises being the said existing Room No.14 AND ALSO THE ADDITIONAL AREA AGREED TO PURCHASE BY THE TENANT, to be provided as per the said Agreement (FOR DEVELOPMENT) AND THIS AGREEMENT to the Tenant in lieu of his/her surrendering tenancy and Occupancy rights of the said premises and possession thereof to the Developers being as the permanent Alternate Accommodation in lieu of the said premises and in pursuant to the said Agreement. Thus under this presents the Developers have agreed to provide said Flat No. 501 on 5 floor in "A" Wing, of the new building having equal carpet area of the said Old Premises (existing Room) AS WELL AS THE SAID ADDITIONAL AREA to the Tenant and a tentative floor plan thereof is annexed herewith and hereinafter referred to as the said Flat."