Construction Industry News
DB Realty told media that it has won a lawsuit over title of land owned by the company in Mumbai and will now develop a 2 million square meter office complex in Mumbai.
DB Realty informed that its subsidiary, Esteem Properties, has approximately 22,000 sqm of land in Andheri East in Mumbai and was the subject of Public Interest Litigation (PIL).
Earlier in 2010, the Supreme Court (HC) in Mumbai had ruled against Esteem. Esteem Properties then preferred to appeal the High Court's decision to the Supreme Court (SC).
The company said the Supreme Court's February 28, 2022 vide injunction allowed Esteem's appeal, among other things.
According to the Supreme Court, the company said the freed-up land of approximately 22,000 m², located in the commercial zone, is now available to Esteem for development. According to a statement, the company plans to develop the land in question into a leasable area of 2 million square feet of Grade A office space over the next three years.
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