SC respite to builders, residents of Maradu highrises
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SC respite to builders, residents of Maradu highrises KOCHI: Bringing temporary relief to builders and nearly 350 residents of the five highrises at Maradu in Kochi slated for demolition, the Supreme Court on Monday ordered status quo for six weeks on.
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SC relief for residents of Kochi coastal apartments June 10, 2019 June 11, 2019 TFP 0 Comment New Delhi, June 10 (IANS) In a relief for home-owners, the Supreme Court on Monday stayed for six weeks the demolition of 400 flats in five posh coastal apartment complexes in Maradu area of Kochi.
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A former member of Kochi corporation’s town planning committee recollected how the department warned buyers when a builder ran into trouble over violation of CRZ norms. "This is one of the buildings mentioned in the SC order. The permits were issued when Maradu was a panchayat.
KOCHI: Bringing temporary relief to builders and nearly 350 residents of the five highrises at Maradu in Kochi slated for demolition, the Supreme Court on Monday ordered status quo for six weeks.
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With SC order to raze flats, 400 buyers in Kochi face investment meltdown. this verdict has cast a dark shadow over the residents and the builders," said K J Antony, Kochi Corporation.
The verdict has sent shock waves among the builders in Kerala as Kochi is the fulcrum of the real estate business in the state. Maradu, a panchayat till 2010, emerged as one of the most sought.
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