Builder delays redevpt, loses Malad project
The Bombay high court refused relief to Lashkaria Builders after the Maharashtra government cancelled approval to the developer
Mar 25, 2015
Source : The Times of India

 

MUMBAI: A builder's failure to make much progress in carrying out a mega redevelopment scheme in Malad has cost him the project. The Bombay high court refused relief to Lashkaria Builders after the Maharashtra government cancelled approval to the developer to undertake rehabilitation of over 17,000 slum-dwellers and redevelop over 5.13 lakh square metres.

A division bench of Chief Justice Mohit Shah and Justice M S Sanklecha said the developer had not been steadfast with regard to the time required for obtaining requisite consent of slum-dwellers. The developer, at the time of sanction in 2010, had claimed he would obtain consent of over 70% slum-dwellers within few weeks; he then sought 18 months, and finally told the HC that he would require another two years. The judges noted that the developer had taken the refund of Rs 52.41 crore after the state cancelled its approval.

"Without putting the deposit amount at stake, the developer has kept cluster development of the land...in limbo," the judges said.

Senior advocate Darius Khambata and assistant government pleader Milind More, who represented the state government, said the developer was not in a position to carry out the redevelopment. The Slum Rehabilitation Authority directed the builder to pay Rs 349.44 crore, the premium for the land, and the developer paid around Rs 52.42 crore as part payment. In May 2011, the state cancelled the allotment for the first time, and it was confirmed in April 2012.

The developer challenged the order, saying the state's decision was wrong, and it had the consent of 30-35% slum-dwellers.

 

Latest Realty News

Work-on-smart-cities-to-begin-soon,-500-brownfield-projects-to-take-off:-M-Venkaiah-Naidu
Mar 25, 2015
New Delhi: Urban development minister M Venkaiah Naidu said, work would begin on several smart cities very soon and by October activity would be in full swing
GDA-to-sell-corner-plot-leftovers-by-April-end
Mar 25, 2015
GHAZIABAD: The GDA has undertaken a three-stage procedure to identify, measure and dispose of leftover chunks of land adjoining corner plots that have either been encroached upon or are lying vacant
E-registry-of-property-to-bring-transparency
Mar 25, 2015
INDORE: To bring in transparency and check corruption, Madhya Pradesh government's ambitious project for online registry of property, underway in five districts
Naxals-blast-land-acquisition-bill
Mar 25, 2015
NAGPUR: The southern regional committee of Naxals, operating from Bastar region in Chhattisgarh, released a press release last week lambasting prime minister Narendra Modi and the Land Acquisition ordinance
On-SEZ-land,-a-global-smart-city
Mar 25, 2015
NEW DELHI: About 800 acres of the total land the Haryana government got back from Reliance Haryana SEZ Limited (RHSL) in February last year will be developed as a global city having all the attributes of a smart city
Draft-development-plan-has-no-room-for-low-cost-homes,-open-spaces,-say-experts
Mar 25, 2015
MUMBAI: Suggestions to create more affordable houses and open spaces have not been accommodated while preparing the city's draft development plan (DP) 2034
BMC-offers-solace-for-most-of-56,000-illegal-structures
Mar 25, 2015
MUMBAI: Most of the city's over 56,000 structures can be regularized or compounded by offering concessions or recovering additional fees
Brigade-Group-acquires-HUL-land-in-Bengaluru
Mar 25, 2015
Bengaluru: Bengaluru-based property developer Brigade Group has announced the acquisition of Brooke Bond Real Estate Pvt Ltd (BBREPL)
Slump-persists,-developers-dump-project-plans
Mar 25, 2015
BHUBANESWAR: With the housing market in the grip of a prolonged slowdown and no signs of its immediate revival, many small developers in the city are abandoning projects fearing further loss
Haryana-plans-services-data-hub-in-first-step-to-build-smart-cities
Mar 24, 2015
Gurgaon: The need for creation of 'Haryana Urban Geo-Spatial Applications Limited' (HUGSA), for preparedness in urban e-governance and development of smart cities

Latest Realty News Of State

Realty Talk's