- HC permits home owners to develop the project on their own
The Bombay High Court verdict gave much-needed relief to the RNA Palazzo customers and permitted them to develop the project on their own. The flat owners’ association has been appointed as court receiver and asked them to develop the project on their own. The decision gave relief to over 78 flat buyers. Upon grounding of the project in Kandivli in Mumbai, several have bought flats in the project. But, the project activities are not proceeding along the expected lines since 2012. Therefore, 75 flat buyers in the project formed into an association and approached the high court. Hearing both sides, the court appointed the court receiver and decided to complete the project. The builder has also consented to this.
The court appointed the flat owners’ association as the court receiver and transferred all powers like selling of the flats that remained unsold, transfer of the flats and resolving other issues and receiving payments– to it. The association has been entrusted with the task of completing the project. At least Rs 40 crore is needed to complete the balance of the 27 floors.
