SC Ordered The Completion Of Palais Royale As The Country’s Tallest Residential Building
After a long time of allegations, the Supreme Court cleared the completion of Palais Royale as the country’s tallest residential building at Worli Naka. This has come to an end after a long a year with the allegations and violations faced by it.
The Supreme Court overturned Bombay High Court order and dismissed the appeal filed by NGO Janhit Manch and cleared out the case which had been facing challenge for the excess refuge areas which were granted by BMC and a public parking lot building which adjoins the plot.
Almost about the 295 meter with a 56 floor tower standing as the tallest residential building on 28400 sq mt plot have more number of flat buyers who have already paid Rs.25-50 crore for each of the high end luxury apartments. Earlier during this year, Indiabulls auctioned the property after SRUIL failed to back loans amounting to Rs 915 crore. Honest Shelters, a little-known company from Pune, bought the tower for Rs 705 crore in a deal.
“We have examined the matter on merits, notwithstanding that we are not satisfied with the bona fides of PIL, as the litigation has a period of long history and has several rounds,” the SC said during the hearing.
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