Mumbai, 18th January, 2018: Serenity is possibly the only project that has some genuine property value. Remember, Serenity
project (and not just land) was mortgaged to Xander. Although
they don't have registered agreements, allottees are an integral part
of the project; without allottees, Serenity is just empty
land. Xander is stuck with allottees that come along with the land, because it can only take over the project, and not the vacant land.
Read the relevant part of Xander's public notice to fully understand this:
If Xander tries to dispossess the allotees of their rights, Bhagtani's bad reputation will rub off on it. On
the other hand, if Xander completes the project to give flats or
repayment to the allottees, it will earn great goodwill and probably decent profits also. Maharashtra
government or MCGM can be persuaded to sweeten the deal with concessions
in FSI, TDR. BJP and Sena can win over the vote-banks ahead of
the 2019 elections, and everybody, includ…