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Builders to lease forest land flats

Builders to lease forest land flats

Apnaloan.com Research Bureau

17 May 2008

Following the Supreme Court's decision to bar the sale of flats built on forest lands, the builders and developers have found a way out.

The developers have decided to lease the flats till the time the decision is finally resolved.

Sanghvi developers have plans to lease their flats at Sanghvi Hills on Godhbunder Road for 11 months.

Developers of the Sabri Ashiana residential complex in Chembur have approached local brokers for leasing out the flats.

Wadhwa builders are giving back the money to their investors, which were given for the 2 lakh sq ft residential complex at Thakur Complex in Kandivali.

Similarly, Bhoomi and RNA developers have also made such offers to their investors in Kandivali.

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