In Brief
An elderly property owner (95 years old) granted a developer the right to develop his 2,412 sq. yard Bombay property under an agreement dated 23 June 2006. The developer was to complete construction within 24 months of obtaining a commencement certificate, but failed to do so. Over a decade later, the developer's assignee sued for specific performance of the agreement. The Supreme Court dismissed the suit, holding that an agreement merely granting development rights (not conferring title) is not specifically enforceable, especially where the developer breached time-critical obligations. The Court ordered the owner to pay Rs. 20 crores for the developer to withdraw, then referred remaining damages claims to arbitration.
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