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Bombay HC Directs BMC To Pay ₹1,061.92 Crore Enhanced Compensation To Developer For Oshiwara-Ambivali Land
The Bombay High Court has directed the BMC to pay ₹1,061.92 crore in net enhanced compensation to S.N. Desai Hospitalities & Developers LLP for land acquired in Oshiwara and Ambivali. The court recalculated the valuation at ₹72,817 per square metre, rejected the civic body's jurisdiction objection and granted 12 weeks for payment, with applicable interest at 9% and 15%.
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