Home   >>    Loan   >>    Home Loan   >>     Overview
Get Home Loan Offers
A maximum of 5 providers will compete to give you the best rates (Sep 2016)
 
 
 
Yes No    
 

Preferred Banks
  •  Any 5
  •  INDIABULLS
  •  ICICI BANK
  •  HDFC
  •  AXIS BANK
  •  KOTAK BANK
  •  DHFL
  •  STAN CHART
  •  HSBC
  •  CITIBANK
  •  RELIANCE
  •  IDBI BANK

 
 
 
 
 
 

I authorize the website and its partner providers like HDFC Ltd, ICICI Bank, DHFL and other banks/NBFCs to call or SMS me in connection with my application & agree to the Privacy Policy and Terms of use

SC gives temporary to Mumbai suburban flat owners

SC gives temporary to Mumbai suburban flat owners

Apnaloan.com Research Bureau

07 Jun 2008

The Supreme Court (SC) has ordered status quo on the appeals of developers who had built apartments in about 1,000 acres in private forest lands. This could be seen as granting temporary relief to over 100,000 flat owners in suburban Mumbai.

The Brihanmumbai Municipal Corporation (BMC) had issued a stop-work notice to the developers following the issue and the builders moved to the High Court. It dismissed their petitions on March 25, following which they appealed to the Supreme Court. The Bench headed by Chief Justice K G Balakrishnan has ordered status quo till further orders.

According to estimates, more than 100,000 flat owners and approximately 75,000 persons who have invested in the under construction properties on private forest land in the Bhandup-Mulund-Thane and Borivli-Kandivli belts.

Around Rs. 25,000 crore has been invested in these areas where the construction was found to be in violation of the Forest Conservation Act as it prohibited non-forest activity on private forest land.

The issue was brought up by the Bombay Environmental Action Group in the high court. Among those builders who approached the SC are Godrej & Boyce Ltd, Nanabhai Jeejeebhoy Ltd, Athithi Builders and Nirmal Developers.

Know more about home loans on www.apnapaisa.com/loan.