The Andhra Pradesh High Court on Tuesday directed owners of plots and villas in the Emaar project to deposit Rs 15,000 per square yard with the AP Industrial Infrastructure Corporation before their documents are presented for registration.
The court was hearing petitions filed by the Welfare Association of Owners of Excelsior and the Owners’ Association of Boulder Hills Villas to stay a memo issued by the state government stalling the registrations of plots and Villas. Justice L. Narasimha Reddy granted the interim order.
The judge directed that the APIIC invest the amount paid by the owners in fixed deposits till the final disposal of the writ petitions. The judge ruled that the registration of the documents in favour of the petitioners shall be subjected to the outcome of the writs and proceedings pending in various courts with regard to Emaar Properties. He acknowledged that his observations may not fit into a “typical judgement”, but added saying the court cannot remain a mute spectator.