Jain Housing and Construction Ltd. has entered into a Memorandum of Understanding (MoU) with Jains Westminster Owners Welfare Association Saligramam to address the repair and renovation needs of flats in the Jains Westminster Saligramam complex. Following a recent incident of ceiling collapse in the apartment complex, the real estate firm has agreed to reimburse the expenses incurred by the association for repairs, rectification, and renovation until August 6, after verifying the documentation.
₹4.47 crore was spent by the association for repairs. The MoU outlines that if the building is deemed repairable by IIT CUBE and a government-approved agency, Jain Housing will undertake structural repairs at its own cost. However, if the building is found to be irreparable, the company will pursue redevelopment or reconstruction based on terms mutually agreed upon and approved by a special general body meeting.
Once overall repairs are completed, the firm will obtain a corrosion control report from IIT-Madras and a government-recognized agency, offering an additional 12-year lifespan to the buildings.