D B Realty on Tuesday said it has won a legal case regarding the title of a land owned by the company in Mumbai and will now develop a 2 million square feet office complex.
In a regulatory filing, D B Realty informed that its subsidiary Esteem Properties owns about 22,000 square meters of land at Andheri (East) in Mumbai and was subject matter of Public Interest Litigation.
“By order dated 7 May, 2010, the Hon. High Court at Mumbai had ruled against Esteem. Esteem subsequently preferred an appeal against the Hon. High Court’s Order before the Hon. Supreme Court,” the filing said.
The Supreme Court vide order dated February 28, 2022 has interalia allowed Esteem’s appeal, D B Realty said.
Pursuant to the decision of the Supreme Court, the company said that the “freehold vacant land admeasuring approx 22,000 square meters situated in commercial zone is now available to Esteem for development.”
The company intends to develop the subject land into a 2 million sq feet (leasable area) grade A office space in the next three years, the filing said.
