PRADEEP NANDRAJOG, J.

1. The disputes in the 3 captioned appeals relate to property bearing municipal number 14, Bazar Lane, Babar Road, New Delhi.

2. By and under a perpetual lease executed by the Governor General Council on April 04, 1939 land ad-measuring 212 sq.yards bearing municipal No. 14, Bazar Lane, Babar Road, New Delhi was demised in perpetuity in the name of late Darshan Lal Kapil, the predecessor-in-interest of the appellant in the three appeals. He constructed a building thereon and after a few years desired redevelopment thereof. On February, 1992 he entered into an Agreement with Ranjit Towers India Pvt. Ltd., impleaded as respondent No. 3 in the three appeals.

3. It is a typical collaboration arrangement. Respondent No. 3 undertook to demolish the existing construction and re-build a building thereon incurring expenses and additionally pay money to the owner of the land and in lieu thereof a share in the reconstructed building being its. In the instant case, the agreement dated February 17, 1992 required a basement, a ground floor, a first floor and a second floor to be constructed and additionally Rs. 15,00,000/- (Rupees Fifteen Lacs only) to be paid to l