In Brief
Satellite Developers Limited owned land in Mumbai reserved for recreational purposes under a Draft Development Plan. After the Municipal Corporation failed to acquire the land within the statutory ten-year period, the owner served a notice claiming the reservation had lapsed under Section 127 of the MRTP Act. Following prolonged litigation and the Corporation's continued default in compensation payments, both parties agreed to settle. The Supreme Court, exercising discretionary power under Article 142, allowed the owner to develop 60% of the land while handing over the remaining 40% as a recreation area free of cost to the Planning Authority, subject to specified conditions, thus avoiding strict application of the statutory lapsing provision.
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