Housing Development and Infrastructure (HDIL) has settled all issues relating to the Slum Rehabilitation Agreement with GVK Power & Infrastructure’s subsidiary - Mumbai International Airport (MIAL), paving the way for its implementation.
MIAL had entered into a Slum Rehabilitation Agreement with HDIL on October 15, 2007, for implementation of a slum rehabilitation project at Chhatrapathi Shivaji International Airport. However, due to disputes between MIAL and HDIL, the agreement was terminated by MIAL on February 6, 2013. Both the parties, in their effort to put an end to the dispute, arrived at a settlement agreement, which was inked on September 8, wherein all claims and counter-claims have been withdrawn.
HDIL is a real estate development company. Its business activity comprises of construction and development of residential projects, commercial, retail and slum rehabilitation projects. It is also engaged in construction of special economic zone (SEZ).
