With this, 1,512 households stand to benefit as the court has directed Maverick Holdings to complete the project and hand over flats to beneficiaries. The verdict has brought cheer to the company too as its prayer of allowing it to use its share of land entirely for commercial development has been upheld.
“All stakeholders can celebrate. Original allottees can hope to have their homes, while it is a reprieve for the government as hurdles for one of its pet projects have been cleared. We are happy we got what we wanted,” said Uday Garudachar, MD, Garuda Group (Maverick Holdings), also BJP MLA from Chickpet.
The project spread over 15.6 acres, equally divided for EWS quarters and commercial development, is being carried out under public-private partnership with Maverick Holdings as the concessionaire. It wanted 7.2 acres for commercial development while BDA insisted on implementation of residential mixed use clause of Comprehensive Development Plan. Maverick had challenged it and the court decided in favour of the petitioner. “The project has taken wing with the verdict. We’ll study the order and do the needful,” said Rakesh Singh, principal secretary, department of urban development.
“Our priority is to complete the project within two years and give the houses to original allottees,” said Garudachar.