Last Man in Tower - Aravind Adiga [35]
Masterji asked in a soft voice that people move to the side, until he was close enough to read the notice pinned on the central panel.
General Offer of Redevelopment:
To Vishram Societies, A and B.
Proposal Made by Confidence Group
(Headquarters Navnirman Building, Parel, Mumbai).
Attention: Secretaries, Society A and B,
and all residents
In consideration of the proposed development of a new super-luxury residential project on the current site of the Vishram Societies A and B, the Confidence Group makes an offer to the Vishram Societies (A and B Towers) for the outright purchase of all flats in the said Societies on the following basis:
It being noted that the two Societies consist of apartments, both one-bedroom and two-bedroom, ranging in size from 450 square feet to 950 square feet, and of an average size of 790 square feet; also that the prevailing rate in Vakola is of the range of Rs 8,000 to 12,000 a square foot, which may even be lower in the case of a building of the age and condition of Vishram Society, a generous offer is made to all owners at the uniform rate of Rs 19,000 a square foot.
For instance, an owner of a flat of size 800 square foot will receive a payment of 1.52 crore (15,200,000) rupees before tax. This is opposed to a market-rate of likely 60 to 70 lakhs (6,000,000 to 7,000,000) maximum, and that too only after the residents have paid for the repair, repainting, etc. of flat and Society. Numerous other financial and tax advantages to the offer will be stated by the Managing Director of Confidence Group, Mr. Dharmen Shah, when he comes in person to your Society to address the residents.
If the residents accept this generous offer, the said sum is payable in three instalments. One instalment upon your signing the agreement, one upon the vacating of the building, and one payable within three months into the nominated bank account. In addition, eight weeks’ rent, calculated on the basis of average rental rates in the Vakola area for a decent-quality two-bedroom flat, will be paid to each family, so they can stay nearby while they search for a new home. All payments will be made by cheque. Nominated Accounts may be in any nationalized bank (likes of Corporation Bank, Punjab National Bank etc.) or recognized and reputable private bank (likes of HSBC, HDFC, Karur Vysya, etc.). Please check with Builder for list of acceptable banks.
About the Confidence Group: Our motto is: “From my family to yours.” Founded in 1978, we are one of Mumbai’s leading developers, with new projects also under development in Thane and Pune. MD of the Confidence Group, Mr. Shah, is the recipient of numerous gold medals and paper-based awards for excellence. He has been cited by the Rotary Club for his charitable contributions and philanthropic vision of humanity. A family man at heart, he avoids the high society and glamorous life and concentrates on the quality of his work and accomplishments. He is also passionate about chess and carom. You may visit his numerous projects and accomplishments via the prospectus of Confidence Group, which has been left with the Secretaries of the Societies.
Important: The last date for the acceptance of the offer is the day after Gandhi Jayanti: 3 October. (Non-negotiable.) The offer will not be extended one minute beyond this date.
BOOK TWO
MR. SHAH EXPLAINS HIS PROPOSAL
14 MAY
Yawning as he emerged from the car park of the Mirchandani Manor, Shanmugham walked out of the gate—the security guard, unsure whether this was a servant or friend of Mr. Shah, stood up without saluting—and went down wide stone steps, passing old men doing stretching exercises, until he stood on fresh, clean sand.
Versova beach. He took a deep breath of early-morning ocean breeze.