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SC ruling on forest land: Which realtors will gain

SC's order on freeing private forest land will provide relief to many affected residents and realty players.

January 31, 2014 / 21:10 IST
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The Supreme Court order on Thursday has freed over 6.4 lakh acres of lands for development by removing the 'private forest' tag. The SC order quashed the Bombay High Court ruling and the prior notices issued by the state government that had refrained development in the bordering areas of the Sanjay Gandhi National Park.

Also Read: SC frees pvt forest land for realty deals; Oberoi in focus

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Over five lakh residents and many real estate developers, who were linked to these lands, will benefit from the move. These areas included Ghodbunder (Thane), Dahisar, Borivali, Kandivali, Goregaon Mulund, Nahur and Mahul.

The real estate developers who will heave a sigh of relief post this order are Godrej Properties, Oberoi Realty, Runwal Group, Nirmal Lifestyles, Atithi Builders and others.